Denali Northern Expenditure

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Don't be a retirement newsletter poster child

Don’t be a Retirement Newsletter Poster Child

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On July 27, 2016

In Personal Finance

Periodically, the company that runs the retirement funds at Mr. T’s employer sends out a retirement newsletter. This is the standard single-fold document that tells you to save more money, think about your future, and think about your taxes.

Here’s the Problem:

I read this newsletter religiously (mail about saving more money!? Yes!). It’s terrible. One of my earliest posts rewrote one of Mr. T’s newsletter scenarios because I think someone should jazz this stuff up!

This past newsletter threw in some more horrible stories. I’m changing the names (so I don’t offend the real fictional dummies), but everything else is the same. I’m not making this up!:

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We're early retirement frauds

Retiring Early? We’re Early Retirement Frauds

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On July 25, 2016

In About the Banks

While we were off traveling, our dear friends over at Our Next Life issued a challenge. You see, the early retirement community is full of “Commandments” (as Our Next Life so hilariously outlined in their original post). This challenge called for a celebration of differences. A manifesto of what we’re doing differently. After I read it, I was immediately THRILLED about the opportunity to come clean. You see, Northern Expenditure is a fraud. I’m not sure why anyone reads us at all. We’re on the path to early retirement, but we’re doing everything wrong differently.

Why We’re Early Retirement Frauds:

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First 100,000

Saving The First $100,000. The Hardest?

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On July 20, 2016

In Plan Updates

The First $100,000

In our May update, we mentioned the possibility of breaking $100,000 in June. It seemed surreal, but definitely possible. Cheers to Amber Tree Leaves for this comment:

Would it not be great to reach 100K while enjoying a holiday. I hope you reach that milestone

This comment blew my mind.

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Save Money on a Legal Will

Save Money on Your Legal Will

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On June 22, 2016

In Personal Finance

Mr. T and I finished the whole estate-planning process just before leaving on our grand adventure (follow us on Twitter for trip updates!). On Monday, we outlined considerations for making a will. Today we’re going to talk about how to save money on making one. This is expensive stuff we’re talking about! And today we’re going to cover how to save money on a legal will. I’m not an attorney, so obviously don’t take this as legal advice. This is just my observations based on my experiences and research on the matter. Mr. T and I used a lawyer to draft up our legal wills, powers of attorney, and advanced health directives (a total of 6 documents). The legal fees? $1,895! Yikes! That’s more than it cost for all of our plane tickets for the trip we’re on! Here are 5 ways to do it for less:

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Drafting a Will

Decisions to Make Before Drafting a Will

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On June 20, 2016

In The Ride

Our three-week trip away from our children forced Mr. T and I to finally kick into gear and make a legal will (you know, because planes falling out of the sky are actually a thing these days!). We always knew we needed one, but it seemed so daunting! Well, guys, we did it. It is done. And now I’m here to help you through doing the same thing. Obviously, I’m no lawyer or financial advisor, so don’t go around thinking this is legal or financial advice. I’m just here to help you with the first step: thinking through most of the things you’ll need to consider before drafting your own will.

Two months ago, Mr. T and I said: “We leave in a month. We need a basic will, an advanced health directive, and a legal power of attorney. Where do we start?” This, my friends, is the list of where you should start. Today, we will take you through the large list of decisions that need to be made before you’re even ready to start the documents! Ready? Here we go:

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Relativity - Minneapolis Cherry Spoonbridge

Financial Relativity (Your Experience is Not Mine)

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On May 23, 2016

In Personal Finance

What is Relativity?

In physics, the basic definition of relativity is that physical phenomena are highly dependent upon the position (motion, etc) of the observer.

I was in Minneapolis recently for work. It was a super windy day with 40-50 mph gusts. It was the worst airplane landing I had ever experienced with the plane violently rocking back and forth and up and down right up until touchdown. The wind made the trunk lid slam into my head as I was putting my luggage in the trunk. I headed to Trader Joe’s to buy my imports. As I was checking out, the lady said: “Isn’t it a lovely day? Every day is a lovely day when you don’t live in Duluth!” Hilarious, right? Except I sort of didn’t get it because I’ve never been to Duluth. I’m assuming this is similar to us (in Anchorage) saying in the middle of winter: “At least it’s not Fairbanks!” (which is probably lost on YOU, dear reader!).

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Its not a marathon

Financial Independence is Not a Marathon

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On May 18, 2016

In The Ride

What’s with “It’s a Marathon, Not a Sprint”?

Everyone uses the phrase: “It’s a marathon, not a sprint” as inspiration for anything that’s hard. I’ve also heard it used for the path to financial independence a number of times. Look! Here’s the first listed google image of the phrase:

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A Simpler Life

A Simpler Life

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On May 11, 2016

In Plan Updates

Since the beginning of the year, Mr. T and I have been focusing on simplifying. 2015 was a year of crazy home improvements as we checked off all the items on the Alaska Energy Rebate Program. Every free evening was spent in the crawlspace or garage painting, insulating, piping, etc. (I should emphasize that I was somewhat involved after the kids were in bed, but most of this was done by Mr. T.) We were spending lots of money (most of which we got back as a rebate), plotting our next move, and under a strict deadline to finish all the things on the list. When we finally finished it all last December, we were tired. We didn’t want to plan anything specific for 2016 because we just wanted to calm down.

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money and death

Breaking Research: Live Rich or Die Young

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On April 13, 2016

In Research Highlights

You’ve probably already seen the news about this study, but as a behavioral economics researcher by day and a personal finance blogger by night, I can’t ignore it here. Published on Monday in the Journal of the American Medical Association was the paper titled The Association Between Income and Life Expectancy in the United States, 2001-2014. First off, let me address the large scale of this study. It’s amazing. I mean, how does one go about getting “tax records for every individual [with a social security number] for every year from 1999 through 2014”?! That’s crazy! The sample size: 1, 408, 287, 218 person-year observations – no that’s not a typo! They also looked at specific geographic areas and if someone moved after 63, they counted their area as the place they were living at age 61 while working (they’ve seemingly thought of everything!). So let’s get to the findings:

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How Parents and Significant Others Impact Student Finances

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On April 6, 2016

In Research Highlights

On Monday, we discussed how people are sometimes dumb with money and love, but it’s not all bad news. Today, we highlight research that shows love can positively influence our finances. The first study, published in December 2015, followed 693 University of Arizona students. The (mostly white, female) students were extensively surveyed toward the beginning of college (ages 18-21) and then again toward the end (ages 21-24). The 693 study participants were all included because they reported being in a serious, committed relationship at the second survey. The study was trying to figure out the impact parents and romantic partners have on the financial behaviors and attitudes of college students.

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