The key to achieving financial independence is passive income. In fact, financial independence is defined by passive income. Passive income is money you don’t have to work for. It is usually derived from some form of work you have done previously, work that continues to produce income over time without any additional effort on your [...]
Some time ago, Rosa and I adjusted our budget, our forecasts, and the management of our money to account for a minimum interest rate of 3% on 5-year certificates of deposit for an extended period of time. Over the last three years of zero interest rate policy (ZIRP) by the Federal Reserve, interest rates for [...]
According to a recent study by two former Census Bureau economists, the median annual income for Americans, adjusted for inflation, shrunk by 6.7% between June 2009 when the recession officially ended and June 2011. They calculated the median annual income in June 2011 to be $49,909. The nation has not experienced an inflation adjusted, median [...]
