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THE VANILLA NEWSLETTER
Expand Your Knowledge Base
Deep dives on money, investing, personal finance, & wealth-building.
Passive Income: How Much You Need Invested To Make $200 Per Day
How much money do you need to live off your investments? I bet most people would be at least a little curious about this. I'll explain exactly how much you need and how to reach that goal. I've been really interested in this topic since I learned about the Financial Independence Retire Early (FIRE) community in my early 20s. This group is known for obsessively tracking your spending, making smart investments, and growing their wealth until it covers all their daily costs. When I first heard about this, I was hooked. For the past 5 years or so, I've focused on living off my investments, keeping my expenses low, and letting my savings grow. Having investments like this lets you choose to do whatever you want, as long as it's legal. The first step is to figure out how much money you need and then plan how to get there. So, let's dive into how much you need to live off your investments and what steps you can start taking now.
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Optimal Order For Investing Your Money
According to a study by the Federal Reserve, if you have at least $400 saved to cover an unexpected emergency, you’re already financially better off than one third of Americans. It’s well known that most people do a poor job of managing their finances and there are seemingly few people that are responsible with their money. Having a good relationship with money doesn’t necessarily mean being ultra-wealthy or earning a high income, either. It just means that you are making financially sound choices, not making reckless decisions on a regular basis and are comfortable with your income and expenses.
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16 Things The Rich Do That The Poor Don't
Have you ever wondered how some people get really rich while others struggle to get by? Do you think there's a secret to getting rich that you don't know about? In this article, I'll share 16 things that rich people do that poor people don't. These things often make the difference between having lots of money and having a hard time with money.
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9 Truths About Money That Banks Don’t Want You To Know
Almost 100 years ago, Henry Ford said it was good that most Americans didn't understand how banks work because if they did, there would be a revolution. Even though a lot of time has passed, this idea still seems true today as it was in the 1930s. This doesn't mean banks are bad; they give us important services and help keep our money safe. No one wants to hide their money under a mattress or bury it in the backyard. Okay, maybe some might… But, the truth is, banks make a lot of money, often at the expense of their customers. Banks do things in complicated ways, so some of their tricks stay hidden from the public. No matter if you're borrowing money, spending it, or saving it, banks find ways to make money from you. The sad thing is, you often don't realize how they're doing it. The many ways banks earn money is one reason why bank stocks are popular with investors.
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The Little Book of Common Sense Investing (by John C. Bogle)
Written by Vanguard founder John Bogle, "The Little Book of Common Sense Investing" talks about why investing in index funds is better than investing in actively managed mutual funds. Published in 2007, it gives timeless advice on how to get your fair share of stock market returns without betting on high returns that come with actively managed funds, which often have high fees. Bogle's main idea is to own a wide variety of the nation's publicly traded companies at very low costs. This way, you can get most of the returns these companies make through dividends and growth. Bogle says that trying to beat the market is a losing game. So, why are index funds better than actively managed mutual funds, and why did Bogle focus his career on them?
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Why Net Worth EXPLODES After $100K (And How to Get There ASAP)
Charlie Munger, the famous billionaire investor, and former vice chairman of Berkshire Hathaway, said that earning the first $100,000 is the hardest part of getting rich. Many people who have made lots of money agree with him. People also say the same thing about earning the first million dollars. After you reach $100,000, getting to $200,000, $300,000, and more becomes much easier. Once you make your first million, earning the second million is that much faster. This idea can help people who are working hard to get richer but feel like it's taking too long. It shows that patience and slow progress are important.
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How To Live Frugally and Achieve Financial Independence
Even though the idea is easy, being financially independent often seems very hard for most people. Why does it feel like you have to work for 40 years and only enjoy life when you're 65? I don't think it has to be that way.
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Financial Education | The 4 Rules Of Being Financially Literate
Financial education means having the skills and knowledge to make smart choices with your money. It’s also called “financial literacy” and is very important for getting ahead in life. If you want to improve your personal and financial life, you might be aiming for financial freedom and independence. This means not having to rely on family, a job, or a company you don’t like for money. Another important idea is “financial confidence.” Unlike financial freedom, which depends on how much money you have, financial confidence is about believing in your ability to make money. Many people think money is scarce and hard to earn, but that’s not true. There’s plenty of money out there, but you need the right skills and knowledge to get it. Think of money like a game with rules. If you follow the rules, you can take control of your financial life.
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The 4-Hour Workweek (by Tim Ferriss)
The subtitle of the book says, "Escape 9-5, live anywhere, and join the new rich." It sounds too good to be true and maybe like a scam, but is it possible? Yes, it is. How do I know? Because I've researched and studied numerous success stories of people who have done it. So, yes, it's possible. But can most people do it? No, they can't. Some people think this means the book is bad or a scam. Think about it this way: If you spill coffee on your favorite shirt in the morning and then your car won't start, can you still be happy? Sure, but most people can't. But that doesn't mean books like Viktor Frankl's Man's Search for Meaning or Stephen Covey's The 7 Habits of Highly Effective People are bad or scams.
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On Investing & Personal Finance
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