2019 Posts And Recaps

Wow, I can’t believe another year has passed.

As I’ve gotten older, time moves a lot quicker.

2019 has been a great year financially speaking, especially in the US. The S&P 500 returned 31.5% including dividends.

All the major US stock indices reached record highs in 2019 including the Dow Jones, Nasdaq, and the aforementioned S&P 500

The fixed income market went up nicely as well as evidenced by the 9% increase in the Bloomberg Barclays US Aggregate Bond Index.

Other asset classes also had a nice year including real estate, gold and even Bitcoin.

Hopefully, we can have another great year in 2020.

One Year Since The Launch Of SportofMoney.com

It has also been a year since the launch of SportofMoney.com in earnest.

I tried once, back in 2016, to start a personal finance blog. I’ve always had a passion about personal finance and figure I can share my experience and perspective with a wider audience.

Well, it didn’t quite work out that well in 2016. I spent a couple of months publishing 7 posts. Then I got distracted with life and other priorities.

But at the start of 2019, I decided to give this whole blog thing another go. I felt the time was right for me to try to be more consistent on producing more posts.

There were a few reasons for giving it another go at the start of 2019:

First, after a few more years of raising asset prices, my financial situation was in a better spot at the start of 2019 than back in 2016. I didn’t need to hustle as much on earning money and can pursue other interests such as writing for this blog.

Second, the Wall Street talking heads rang the alarm about an impending recession. I wanted to get in front of this by starting a successful business. My hope is one day this blog will be a great value to many people and, in return, I can generate revenue from it.

Lastly, I wanted to challenge myself more in order to grow in my areas of weakness. I have always struggled with writing. Working on this blog should give me a creative outlet to work on improving my writing.

Overall, it was a great year for this blog. There was a month and a half when I took a little break from this blog.

But ultimately, I came back. I told myself I would give this blog at least a good honest 2 year try back at the start of 2019.

Now that year 1 is done, I am more determined than ever to continue to produce great content for you.

Let’s Have Financial Success Together!

I grew up financially poor.

But now, through a number of factors, I am knocking on the door of financial independence after 20 years of work.

I’m no super human.

I realized that if I can do it, then everyone and anyone can achieve financial success as well.

That’s why I started this blog to begin with.

I started this blog to help turn my readers’ financial life into a healthier one.

It wasn’t easy for me to achieve financial independence and I want to do as much as possible to provide resources for my readers to be able to achieve financial independence (or secondarily, wealth creation) themselves.

Over the past year, I’ve posted a few general topics which I believe should serve as a good blueprint for anyone traveling along their own financial independence journey and wealth creation path.

Here Are The 2019 Posts And Recap

Real Estate Investments

I’ve said it many times before and I’ll say it again: I am a big fan of real estate investments.

I own a number of rental properties which provide me with a steady stream of cash flow. That’s why I believe Real Estate Should Be A Cornerstone Of Your Investment Portfolio.

Contrary to popular belief, you don’t need a lot of money to start. Although, needless to say, having a lot of money to start helps tremendously.

I know of How One Person Built A Real Estate Empire With Little Money To Start.

There are many great benefits to owning real estate, especially residential rental properties.

One such benefit is the ability to acquire real estate for less than market value. Here are 5 Ways To Acquire Real Estate For Less Than Market Value.

Another benefit of owning real estate is the tax advantages.

You can have a tax free exchange by trading one rental real estate property for another. There is long term capital gain treatment for real estate held for longer than a year.

Most importantly to me, there is depreciation I can claim on the property. Depreciation is a tax accounting item and doesn’t involve a cash outlay. But yet, I can claim it as a tax deduction on my tax return.

Depreciation allowed me to have a $400,000 gross rental income with no income taxes paid.

Rental properties also provide a steady stream of cash flow. The key is to  Maximize Rent.

Or lower your expenses by following one of the 10 Ways to Lower Your Monthly Mortgage Payments.

Another benefit to real estate is the ability to use leverage. One Way Warren Buffett Got Rich Is Using Other People’s Money And How You Can Apply It To Your Financial Situation As Well In Purchasing Real Estate.

But real estate isn’t all gravy with no costs. There are indeed some Hidden Expenses To Owning Real Estate.

Financial Independence

Financial independence is the Holy Grail on the personal finance path.

I’ve been fortunate enough to get close to financial independence. I hope to get there by the end of this new year if things work out well for me.

But financial independence isn’t the end game. I’ve asked myself What To Do After Achieving Financial Independence?

While I’ve worked hard to get to this point, I don’t believe in all work and no play. I have to reward myself for this 2 decade journey.

So I thought to myself “What Is A Nice Gift To Celebrate Achieving Financial Independence (FI)?”

But I am still too young to retire early even after achieving financial independence given there are a lot of unforeseen future financial risks.

Therefore, I am not a big fan of the FIRE (Financial Independence/Retire Early) movement.

Even if you are fortunate enough to hit financial independence at a young age, I would argue Don’t FIRE Too Early Given The Risks – And There Is A Best Time To FIRE In Life.

I prefer to have more control over my location and time instead of just retiring early.

That is why I prefer the Work LITE (Location Independence/Time Enjoyment) model instead.  So why don’t you continue to work,  Don’t FIRE, And Join The Work LITE Movement Instead!

Millionaires

It makes sense if you want to have a very healthy financial life to emulate people who are very successful in this area.

We should look at the millionaires and billionaires out there and try to learn from them regarding their financial decisions.

That is why I believe people should Not Pick On Millionaires and Billionaires – They Are People Too.

There are reasons why the rich get richer and it isn’t because of evil scheming. I’ve listed The 9 Reasons Why The Rich Keep Getting Richer.

But in some high cost locations, money doesn’t travel very far.

As ridiculous as it may seem, a million dollar income might not get very far in some cities.

Unsurprisingly, New York City is one such place. Here’s What You Need To Be Upper Middle Class And Upper Class In NYC & It’s A Lot.

A million dollar income might afford a good life but nothing outrageous.

A Million Dollar Income ($1,000,000) – A Detailed Analysis Of The Household Budget Part 1 of 2

A Million Dollar Income ($1,000,000) – A Detailed Analysis Of The Household Budget Part 2 of 2

Be Grateful To Be In America

I grew up financially poor but I am close to achieving financial independence in the span of 20 working years.

Maybe ironic to you, I attribute my later financial success to How Growing Up Poor Can Be A Great Benefit In Helping Build My Financial Wealth Later In Life.

There are a number of things that worked out well for me. And being in America, the land of opportunities, is certainly one important one.

Anything can be achieved if you are willing to work hard and smart for it, including accumulating wealth.

I truly believe that Anyone Can Be Wealthy In America – Are You?

But the great thing about being in America is that even if you are just “average” as an America, you are still part of the global elite. How Rich Are Americans On A Global Scale? Very Rich!

For my fellow Americans out there, be grateful for being in this great country. You have truly want the financial lottery and are in a country where billions of people would love to have the opportunity to be.

Earn, Save and Invest While Young

The greatest wonder in the financial world is compound return. Quite simply, money turns into more money. But the key component here is time.

The more time you provide, the more explosive the money growth.

That is why starting at a young age is a huge advantage. No one is too young and that is the reason why I am Teaching My Kids To Be Millionaires.

Earning early, saving early and investing early is one of the key reasons why I was able to Become  A 401(k) Millionaire In My 30s.

Being financially successful boils down to math at the end of the day. That is why people have been successful in saving a lot with this Easy Math Trick To Crush Retirement Goals And Why People Have The Wrong View About It

There are many tough lessons for young people to learn but that is why it is important to provide some Financial Tough Love And A Dose Of Reality.

Not to mention they need to understand that A Small Actions Can Lead To A Big Financial Impact.

For instance, college with the exorbitant costs shouldn’t be all fun and games. College Should Only Be A Financial Decision – Don’t Get Crippled Under Student Debt For Nothing.

By living at home for 3 years right after college sets you up way ahead of the game financially. Doing This One Thing During Your First 3 Years After Work Can Lead To Millions In The Future.

There are many other Keys To Long Term Financial Success Starting In Your 20s for our younger adults to understand in order to do well financially.

Also, as you grow older and want to share your life with someone else, it is good to be on the same page with your significant other. There are Pros And Cons On Sharing Your Finances With Your Significant Other .

But ultimately, the pros outweigh the cons.

There can be misconceptions about how lifestyle inflation can destroy your chances of saving any money. That cannot be further from the truth.

In my mind, Lifestyle Inflation Encourages Savings, Not Spending.

If the urge to spend suddenly comes over you, follow these Guidelines To Use When Buying An Expensive Item.

Hopefully, you were successful this past year in earning more, saving more, and investing more!

General Observation Posts

The below posts are some additional random musings and observations for your indulgence.

Be Offensive Minded to Win

Assess Your Situation to Make Smart Moves

Don’t Be Afraid – Take the First Step

Are You Struggling To Achieve Your Financial Goals? Here Are Ways To Stack Success In Your Favor!

9 Investing Lessons From Tiger Woods’ Comeback Win At The Masters

Business Lessons From Game of Thrones

Sports And Personal Finance Have Many Things In Common

Have a Healthy, Happy, and Prosperous New Year!

SoM @ SportofMoney.com

Many people work hard to better their physical and mental health. What about their financial health?

I started this blog back in 2019 to help people better their financial health as well.

My financial journey began with tens of thousands in student loan debt. Over the span of 20 years, I am close to achieving financial independence.

I truly believe anyone can get to strong financial health. Hopefully, this blog can help you on your financial journey to greater wealth and financial independence.

You can read more about me here.

Thank you for visiting. Come again soon!