Monthly Archives: February 2016

What I’m Reading – Daily Links Feb 17

I’ve been super busy with school lately & mid-terms have hit hard and fast this week. Luckily, I am done for a little while and by this time next week, I will be hanging out on a beach in Maui!

Since, there is an almost endless amount of information floating around in the internet, I am going to start a new feature where I provide a glimpse of some of my favorite reads around the cyber galaxy. For now, it probably won’t be weekly and I am going to try to steer clear of the personal financial blogosphere that I think most of us follow regularly. And come to think of it, it’s more of like a mix of articles, infographics, and youtube videos. Because I don’t know about you, but I love charts and I waste WAY too much time looking at mostly dumb and sometimes interesting youtube videos.

What I’m Reading – February 17, 2016 Edition:

  • A couples weeks ago, a friend on Facebook shared an article from Ricky Yean, a tech-start-up co-founder and silicon valley entrepreneur. He writes about why so few successful start-up founders grew up poor and how it boils down to something he calls, “mindset inequality.” Really great read and worth your time.
  • Go watch this Ted Talk from Adam Carroll on what happens when he played Monopoly with $10,000 REAL DOLLARS with his kids. Great piece on personal finance and teaching financial management to young ones.
  • I’m a huge sucker for anything that has to do with millennials and personal finance in the same sentence. PWC did a study on millennials & our supposed struggle with personal financial literacy. I always question the breadth and depth of these types of studies, but they are believable based on some of the comments around personal finance I have heard from friends in their 20’s. Interesting stuff.
  • If you’ve never ventured around Harvard Business Review, their site has some great stuff. I found an interesting perspective from Ray Sheen, who wrote about his daughters, “When our two daughters finished their high school studies, my wife and I made them a deal: we would pay for college, but first they each had to run their own business for at least a year.” Read more about it here.
  • Neat infographic on which home-renovation projects have the biggest ROI. It’s a story for another day, but we recently had about half our home’s floors redone and so I thought it was interesting.

-TFG

My 2016 Goals – January Update

January is over and that new year’s resolution feeling has fully worn off by now. Are you changing your habits or did you make empty promises to yourself that you haven’t kept?

Let’s see the progress on my 2016 goals below:

Become a Morning Person

I’m embarrassed to say, but as a grown-ass man I click the snooze button WAY too much. I am still working on getting into my routine that will get me up and productive earlier in the day. The last week or so I have tried to move my alarm to a place where I can’t reach it in bed and I think this has started to help, but still a lot of work to do here to break old habits.

Run 365 366 Miles this Year

I realized that 2016 is a leap year so February 29 is gracing us with her presence this year. In the spirit of keeping with the average of 1 mile per day I’ve upped my number to 366 miles.

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All in all, not a bad way to start out the year on the exercise side of things. January included a total of 10 runs for 33.8 miles total at sub 8:50 average pace. I don’t particularly love running on the treadmill but intervals are good to do from time to time. It also helps me understand my natural pace and try to push/change my natural pace.

Run 2 10Ks & Run my first half-marathon

I’ve started to zero in on my dates for my first 10K (end of March) and half-marathon (mid-April). I have no doubts of running 6.1 miles right now in the shape that I’m in, but still have to work on the mental aspect of running 13.1 miles. So plenty of work left to do here in the coming weeks and months before the half.

50 First Dates

Success in the first month of the year! Highlights include an evening staying in to discuss 2016 financial goals, finally catching Star Wars 7, our too often trips to Costco & the grocery stores, and shopping for some clothes for an upcoming trip to Hawaii –
BE JEALOUS! 😉

Make at least $7,500 profit from side hustle-y things

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Relatively slow start out of the gates here for January. On the eBay side of things, I listed so heavily in Q4 of last year, I’ve had a bit of a hangover. I’ve gotten a decent amount of inventory to Amazon these last few weeks. The biggest thing I am interested to see is what my margins look like once I get my FBA Amazon action really moving. Historically, I have averaged 45-50% margins on eBay. I highly doubt I will hold that high of a margin on Amazon. But it’s also much easier to send things to Amazon in bulk than to list on eBay individually. The other category is mainly some LA Laker’s tickets that I snagged up for Kobe’s retirement tour and re-sold. More to come on that later.

Read at least 12 Books (yes, from start – finish)

About half way through Smart Couples Finish Rich  and currently listening to The Power of Habit on audiobook. I’ll give my thoughts on each when I am through with them.

Increase Net Worth by 35% (About $65K)

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As we all know, it was a rough month for equities across the globe. Just remember that sometimes volatility is good for us over the long term. I expect 2016 to be a bumpy road with plenty of ups & downs in the market. I still expect to max out my HSA, pay down my mortgage, save in pre and post tax retirement accounts. Nothing to see here.

 

-TFG