Denali Northern Expenditure

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Making the Most of Missed Opportunities

Roth IRA Challenge: Making the Most of Missed Opportunities

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On December 2, 2016

In Roth IRA Challenge

I can’t express how excited I am to have Ms. Our Next Life on the blog today. She blogs over at Our Next Life and has one of the best, most grounded, reassuring perspectives on the journey to early retirement out there! Seriously, if you’re not already a fan of Our Next Life, it’s time to figure out what all the buzz is about! Go! On top of that, though we’ve never actually met in person (yet!), she’s one of my real friends and I’m delighted to feature her and a bit of her journey here today…

Before we dive in, I just have to share with you guys that Maggie is one of our very favorite humans in PF blogland. She will never tell you herself how awesome she is, but it’s true. I’m especially grateful for her friendship and support since our blogs were both baby blogs – and, of course, all the Clueless GIFs. So needless to say, I’m thrilled to be here.

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Process is part of the product

The Process is PART of the Product

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On August 31, 2016

In Personal Finance

There is a constant battle between the process and the product in early retirement talk. Mr. T and I lean toward a calmer, more comfortable process leading to a delayed product of early retirement. Others choose to give up a lot more than we do in the process for a sooner product.

Balance is important. If you ruin your health, happiness, or relationships along the way, you’ll find yourself retired early and alone and sick. But you are the only one that can determine what that balance looks like for you.

It’s important to take another factor into consideration as well: Pride – The good kind. The kind where you roll up your sleeves, grab a cup of lemonade and just sit and stare thinking nothing but “I did that!” It’s a great feeling, right?

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Status quo coin flip

Status Quo Bias and the Coin Flip

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On August 15, 2016

In Research Highlights

I have had the same haircut forever (a simple, A-line bob if you really wanted to know). When I go to cut my hair, I think: “I’m going to do something different!” but then I go do the exact same thing. This is an example of status quo bias. We like things to be the same and any deviation from that point is considered a loss. What if I hate my hair? What if the guy who is running against the incumbent is going to be worse than that guy? What if I quit my job and regret it? It’s easier to stay the same. 

Flashback 12 years ago: I’m on a study abroad in London and the Vidal Sassoon Salon is offering free haircuts if you’re willing to get anything. YES! This is my chance to be crazy! I walk in. Every single person has crazy hair. My own guy has a tight Afro with ringlets hanging off of it like a disco ball. It was amazing. I wonder what I’ll get!

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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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Northern Expressions

Northern Expressions: Advice is NOT Permission

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On June 10, 2016

In Northern Expressions

You don't need anyone to give you permission to pursue a dream

Happy Friday! Today, Mr. T and I are in London. Tomorrow, we get to see the new play, Harry Potter and the Cursed Child (I’m really, really excited!). Also tomorrow, we get to witness the grand parade that is the Trooping of the Colour (in honor of the Queen’s 90th this year!). I hope your summer is going well. Today’s quote from Chris Guillebeau is one of my favorites from the $100 Startup. It’s so inspiring! If you want to do it, DO IT! Follow your dream. Make it happen. Tell the naysayers to get lost and go and live your dream! Have a great weekend, friends!

Love, Maggie

Financial Ethics

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On November 18, 2015

In Goodness

Money is an interesting thing. While it is an amazing tool to help you reach your dreams, it is also the root of suicide, homicide, divorce, and family divisions. If you want to bring out the absolute worst in people, buy them a winning lottery ticket. It turns out winning the lottery is a horrible thing for most people. Money makes us crazy. 

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Want to Save More? Plan for Regret.

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On October 5, 2015

In Research Highlights

No one likes to feel regret. (“What? Maggie, I think you’ve sufficiently covered regret. You’ve covered both common life regrets and common business regrets and used research to tell us how to experience less regret.”) But sometimes, regret can be good. No, I’m not saying you have to experience regret. You just have to PLAN to experience regret? (“huh?”) Let me explain…

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Common Business Regrets

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On August 21, 2015

In Research Highlights

After looking the research about regret and the biggest life regrets, I thought we covered it. (“WHAT?! More regret? Get over it Maggie!”) But then I came across an article published in 2012 the Harvard Business Review blog network about the top five career regrets. Since we’re still mid-career and this is still primarily a personal finance blog, I had to talk about it. (Last in the series of regret, I promise.) So, what do 30 professionals say are their biggest career regrets? I’ll tell you (along with additions as to how I think Mr. T and are doing on these potential regrets):

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frugality sucks frugal

Top 5 Life Regrets of the Dying

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On August 17, 2015

In Research Highlights

Attending my grandfather’s funeral last week prompted me to delve into the research about regret. And as I researched, I realized regret is a big topic. Everyone experiences regret and no one wants to. So, I decided to keep the theme going. I started to wonder what Grandpa would have said if I had asked him his biggest regrets. I wrote most of this post on the airplane ride home from the funeral. When I returned, I found that Financial Samurai had covered this exact same thing. I recommend his post. In the Top Five Regrets of the Dying, Bronnie Ware shares her experiences as an Australian hospice nurse. As she spent time with all of these patients in the last 12 weeks of their lives, she shared their end-of-life thoughts, epiphanies, and regrets. The top five regrets she said people experienced before death were:

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