Barrett's 2 Cents

I am a CERTIFIED FINANCIAL PLANNER™ professional. I write personal financial advice for baby boomers without kids. Some people say I help simplify their finances. Other people say I help them enjoy more life experiences. Read on and decide for yourself.

How to Spend More of Your Nest Egg

Sarah takes very little money out of her nest egg, so I’m concerned that her financial plan is at risk of failing. Wait, what, you ask? How can a plan be unsuccessful because a person is spending too little? Once a person has achieved financial freedom, it’s common. Here’s how.

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Planning to Make Work Optional

I am 45 now, and I love what I do, where I work, and the city I live in.  Yet, I still want to know when I’ll have the freedom to stop working. However, the nest egg target that I keep in my head isn’t synced up to that point in time. It’s my WOFI number, and it arrives much sooner. Here’s what it is and why it relaxes me a lot more than knowing how much I need to save in order to retire.

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But My Tenants Are So Nice

You love your tenants. They always pay their rent on time, rarely complain, and they are super nice. Now for the bad news – that’s probably why you’re undercharging.

In the spirit of disclosure, I own no rental properties so I can’t speak from personal experiences, only those of my clients who rent out single family homes. The common theme – none of them have a system for raising rents based on inflation or comparable listings (comps). When I ask why, they usually share that they’d feel bad doing so because the tenants are so nice.

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My Credit Cards Are Better Than Yours

I’ve finally found my perfect match. I now have 3 credit cards that provide me with an average reward of around 3% cash back because of how I use them. And I no longer have any fear of missing out, or unused cards sitting in a drawer gathering dust. If you buy things, eat, and travel at least a couple of times per year, perhaps these three cards should be in your wallet as well.     Continue reading

Getting Stealthy at 63

We start driving at 16, become adults and vote at 18, and can drink once we turn 21. When we’re older, the “milestone” ages become a bit less exciting and more about money. Most of us will tap into our retirement accounts at 59 ½, enroll in Medicare at 65, and start collecting our social security checks at age 67 or 70.  But no one ever talks about age 63. Well, I’m going to.  Continue reading

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