Hey everyone. Thanks for checking out the second Best of Money post. If you missed the last volume you can find it here in The Best in Money. The Best in Money weekly series is curated by Grant from Millennial Money and Drew from Guy on FIRE. We all know how Mondays can be a drag, so we will do our best to post The Best in Money every week. So check back every Monday for your fill of the best posts, podcasts, and videos we can find about money. Without further ado here’s this week’s best.
Best Money Posts
1. Five Side Hustles I had Before Side Hustles Were Called Side Hustles by The Wealth Hound
The Wealth Hound is a complete hustler and entrepreneur at heart. We all know that side hustling is the way to make extra money so you can invest. But The Wealth Hound (cool blog name BTW), had some really interesting side hustles growing up as well. His stories about side hustling are also super entertaining and he provides 10 great side hustles that most anyone can start today. Check it out and start hustling.
2. Here’s How Long It Has Historically Taken to Save $1 Million by Zach from Four Pillar Freedom
Many say the first $1 million is the hardest. I (Drew) believe that it’s actually the first $100k. Did you know it takes longer to go from $0 to $100k than it does to go from $600k to $1 million? Zach from Four Pillar Freedom, who’s a great blogger, put together an awesome article on how long it historically takes to save $1 million. Consistently saving and investing will do amazing things for your finances. Anyone can become a millionaire with enough time. Keep saving and investing.
3. Why Houses Are A Scam by FIRECracker from Millennial Revolution
So you think real estate is a great investment? Well maybe not. Kristy and Bryce from Millennial Revolution are good friends and great bloggers. They retired at age 31 to travel the world and are Canada’s youngest documented retirees. This wasn’t by luck either. While living in one of the most expensive real estate markets in Canada, FIRECracker passed on the real estate FOMO (fear of missing out). Her friends were buying expensive homes they could barely afford; she focused on building a portfolio that would pay her to travel the world. The couple prefers this to owning a house that would constantly cost them money. Definitely an interesting contrarian viewpoint on real estate.
4. Hierarchy of Financial Needs by Brandon from the Mad FIentist
I (Grant) have been reading Brandon’s blog since 2014 and I’m a big fan. Drew also loves it too. If you want to go really deep into the math (and soul) of early retirement you should definitely check out Brandon’s writing at The Mad Fientist. Brandon retired early at the age of 34. In this brilliant post, he takes a deep dive into the psychology of happiness and living a fulfilling life. After achieving financial independence, he came to the realization that money actually doesn’t matter. His psychological approach to money, happiness, and fulfillment is fascinating; I couldn’t stop reading. Definitely, a post to check out.
5. You can retire early without adopting Mr. Money Mustache’s extreme frugality by Chris Mamula
You don’t have to be super hardcore and super frugal to retire early. I (Grant) really dug Chris’s perspective that you can follow the principals of FIRE without going super extreme. Financial freedom really is a personal journey and no matter what other bloggers or writers or podcasters tell you to do, you need to find a way to integrate the ideas into a balanced way into your own life. Just making one small change in your financial life can make a massive difference.
Best Money Podcast Episode
This week’s best money podcast episode comes from J and Gwen at The Fire Drill Podcast with their guest Kristie Wolfe talking about how she built her tiny house empire. This is a really inspiring episode and definitely worth a listen. I (Grant) also have the opportunity to be on the Fire Drill Podcast if you want to check out the episode here.
Best Money Video
We’ve all heard the phrase “Life is the journey, enjoy the ride.” But what if life really isn’t a journey? Check out this amazing video of one of my favorite philosopher’s Alan Watts dishing for 5 minutes on money and life. While this was recorded over 50 years ago, it’s as resonate as ever (and the animations are sweet). This is one of the coolest YouTube videos about money I’ve seen recently.
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See you next Monday! Have a good week.