Wednesday, January 31, 2018

A Free Way to File Your Taxes This Year! (Federal + State)

tax guy

I know I know, taxes – ugh.

But I might have something for you that could save you hundreds of dollars this tax season, both in filing fees, as well as getting back the maximum refunds owed to you.

It’s a tool called MyFreeTaxes.com, and despite its somewhat spammy name I guarantee it’s legit ;)

Not only do I have a good friend who recently switched careers to work for its parent organization, but its parent organization is none other than mega charity United Way! I.e. the largest privately-funded charity in the entire world! (#TrueFact). MyFreeTaxes is one of their initiatives in fighting for “the financial stability of every person in our community,” and they’ve already helped close to 1 million people since launching in 2009, saving them $180+ million in fees in the process.

They also happen to be the only free, national, online tax filing product offered by a nonprofit, and is powered by H&R Block’s premium software making it even more robust and easy to file.

See – legit!

it's legit gif

But of course, there is a catch, however it’s a good one whichever way you look at it ;)

In order to qualify to use MyFreeTaxes, your total household income must not exceed $66,000 for the 2017 year, whether that’s W-2 income, freelance income, investment income, or a combination of all three. So if that’s you, great! Keep reading to learn more! And if not, great too! Congrats on making more than 70% of your fellow citizens!

But whether you qualify or not, I hope you’ll help me spread around the word so everyone else in our communities can learn about this great option too. Even a tweet or Facebook share can help, as we ALL know someone who makes less than $66k a year! And it covers *individuals* too, not just families, so it really does affect a ton of people.

Please help me share this around today!

Here are more details, and benefits, of the MyFreeTaxes program:

  • The average filing savings is about $200 using MyFreeTaxes
  • Most filers complete their taxes in under an hour
  • It’s powered by industry leader, H&R Block, which guarantees that tax returns are 100% accurate and uses the highest standards to safeguard taxpayer information
  • The software screens for refund and credit eligibility such as the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC), to ensure filers receive their maximum tax refund
  • It’s easy to use; just upload a picture of your W-2 and MyFreeTaxes will automatically fill in your info
  • Filers can call, email or use the chat box to get assistance from IRS-certified professionals in real time (available from January 29th through April 30th, 2018 from 10:00 a.m. to 10:00 p.m. EST Monday through Friday, and between Noon and 9 p.m. EST on Saturdays)
  • Users can file federal taxes, and up to three state returns for free
  • There are specialized forms for self-employed filers
  • And they offer support in both English and Spanish

They also have an option for filing taxes in person, for those who prefer that instead. They’re called “Volunteer Income Tax Assistance” sites (VITAs), and the locations and other info can be found at MyFreeTaxes.com or by calling 1-855-My-TX-Help.

my free taxes banner

So yeah! A killer option for those who qualify! Please helps us get the word out as it can literally help millions of people in our country! 

Here’s the link again for anyone who wants to take advantage of this –> MyFreeTaxes.com

They’ve already saved people over $1 billion in refunds over the past 8 years, and they need our help in continuing it until we finally reach financial stability for all those around us. Which let’s be honest – is going to take a very long time :( So be thankful if you’re in the top 30% here who don’t qualify! What a luxury to be able to shoot for an early retirement!

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This post was in partnership with United Way and MyFreeTaxes.com, which as you now by know I’m a huge fan of ;) It’s programs like these which is exactly what we need to be doing more of in our space, and I’m proud to be a part of supporting the mission.

Via Finance http://www.rssmix.com/

Tuesday, January 30, 2018

5 Mistakes Business Owners Make When Hiring Maui Accounting Services

Every business can benefit from Maui accounting services. Whether you’ve just started your venture, or if you’re already running a successful small company, the services of a CPA in Maui are not only important, but also necessary. When it comes to paying taxes and dealing with the IRS, it’s important to keep in mind that …

Article Source Here: 5 Mistakes Business Owners Make When Hiring Maui Accounting Services

from James & Associates, CPAs, Inc. – Feed http://cpamaui.com/maui-accounting-services/

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Monday, January 29, 2018

Is Extreme Couponing Dead?

scary shopping cart

Remember when Extreme Couponing was all the rage? And everyone was talking about it and/or trying it, even people who normally hate talking about money? ;)

A reader recently unloaded a whole bunch of (pretty hilarious) thoughts on it which we’ll get to in a bit, but a quick search of my own E.C. postings definitely points to the fad no longer being a fad anymore… (Though of course regular couponing will always be in, as it’s just plain smart!)

Here are all the articles we’ve published on extreme couponing:

It all came full circle, haha… And my friend Debbie here seems to be over it too.

Here are some comments mashed together from her, which can pretty much be summed up with this line here – “coupons were almost a narcotic to me.”

Sounds about right :)

Extreme couponing was a real problem when we moved. Hauling 96 packages of toilet paper, 72 tubes of toothpaste, 66 sticks of deodorant, 84 rolls of paper towels, 69 bottles of body wash/shampoo, 57 bars of soap, 48 bottles of dish detergent was exhausting, not to mention countless cans of veggies, soups, tomato sauce, peanut butter, jelly, and boxes of everything from cookies to mac & cheese. We have enough toothbrushes to last into the next century.

The list goes on & on but the real killer was 46 heavy containers of laundry detergent. What a pain in the ankle (and every other bone it took to move all these treasures…cough cough).

And yes, I had already donated a ton of my stockpile! This is when I FINALLY realized this obsession had gone off the deep end. God forbid I missed a sale or a coupon expired at one of the 10 stores I shopped – I’d cry in my pillow all night, LOL. Okay it wasn’t quite that bad but man, this was a drain on my time & emotions running from store to store & hoping to get there before they ran out of stock on a good sale item (I always fell for the fine print in an ad “while supplies last” = run to store immediately).

I remember once a month Harris Teeter had “Super Double Coupons”. They doubled any coupon up to $2 (so a $2 coupon would double to $4). They were the only store in the area to do this. Lines of people added to my anxiety “forcing” me to get up at 4AM to arrive at the store at 4:20AM to beat the competition on the first day of Super Doubles. Store policy though? No check out before 7AM during Super Doubles.

Like an idiot, I shopped the store 2 hours & stood on line over 1/2 hour until they opened the cash registers at 7AM. Some sale items were out of stock by 7AM on the first day! And they almost never restocked during the sale (I knew this as I’d go back to the store 2-3 times during Super Doubles after I printed out more coupons or if my mother snail mailed me more coupons) so this added to my frenzy.

Coupons were almost a narcotic to me. Today I’m proud to say I’ve attended Super Double coupons only twice since we moved & it was purely by accident that I walked into the store for something else I needed. It’s nice living off this stockpile, but I now only clip coupons for things needed in the immediate future & only go to 2 grocery stores within 2 miles of each other. I stock up on sale items we use, with or without a coupon & no more big stockpiles.

I no longer HUNGER for this FEEDING frenzy, LOL. No more extreme anything for me except regret for letting myself get caught up in this crap. What good is having 50 jars of peanut butter if they all expire next week?

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PS: I also used to wait in the parking lot for drug stores to open at 7AM, especially on Sundays, when traffic was low & the sales started. Everyone knew me by my first name since I was a regular customer. Since we moved & I broke the coupon addiction, no one knows me in any store now, LOL.

PPS: I found myself emailing companies often too, asking for more coupons and pretending to be a brand new customer wanting to try out their products. It worked every time. Presto, more coupons emailed or snail mailed to me. Lordy lordy, what a trap I allowed myself to fall into…

Oh Debbie :) But rest assured, I guarantee you’re not alone here. I bet if we polled everyone reading this right now, at least 10% would admit to extreme couponing in some fashion or another! I would have too if I weren’t so lazy! Haha…

But it really was such craze… I remember reading Predictably Irrational over the summer by Dan Ariely (a fantastic book, btw), and a big part of it was how everyone goes gaga for “FREE” anything as if it were in our genes and we couldn’t control it, haha… But then if the cost changed from $0.00 to $0.10 or even $0.01, the excitement dropped sharply! Even though we’re talking about literal pennies!

it's for free

We are a crazy race, let me tell you… And I fully admit to falling for this “FREE” trick over the years too. (“A Free t-shirt? And all I have to do is sign up for your $200/year credit card??? GIVE ME THREE PLEASE!!” Ugh…)

But it is what it is, and Debbie left us with a few helpful tips from her experiences. Which she aptly labeled as “The best advice in the world.”

  1. Stay out of stores! See less, buy less, spend less!
  2. Shop at only 1-2 grocery stores & use their sale inserts
  3. Clip a few coupons only for items you truly use/need.
  4. Put the rest in the recycle bin.

And then also added, “If you truly want to save $$, set up a budget, say $75 a week. Then take this $75 CASH to the grocery store & you won’t/can’t spend more. It worked for us years ago when we were saving for a house, long before the coupon crazies took over my sanity!” Hah!

So what do you think? Is extreme couponing over, or is it just living underground more hiding from its rap? Did you ever get into it, or are currently into it? Tell us all your stories!!

I’m pro saving money, but def. not into spending gobs of time and/or stressing about it… Although out of all the addictions to have, there could be worse things to snort! ;)

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// Scary shopping cart pic by schizoform

Via Finance http://www.rssmix.com/

Friday, January 26, 2018

Questions To Ask a Certified Tax Preparer in Maui

Are you looking to find a certified tax preparer in Maui? Before you go ahead and hire someone right off the bat, consider digging into few details first. There are many factors that come into consideration when hiring a certified tax preparer in Maui. But just like you would research any other type of service, …

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Desire Paths: The Unconventional Way to Live Your life

desire paths

[Hey guys! It’s been a little while since we ran a guest post here, but been getting quite a few really good ones lately so thought we’d bring them back on Fridays for a bit… You know, give you a little break from my antics and let some other brains shine for the day ;) So please enjoy one of my favorites from the batch, brought to you by I Dream of FIRE who had me nodding the entire time here… Good stuff to think about over the weekend!]

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Near my house there are two well-worn dirt paths through the grass.

The first cuts just a dozen feet from one sidewalk to another, and the second travels down a small slope to meet up with an asphalt park trail below.

I live in a master planned community, where the roads, trails and sidewalks are meticulously designed and maintained to direct travelers along a predetermined route.

Yet the people who take those dirt paths have a different idea.

desire paths map

Anywhere you walk, you can almost always find these bare dirt paths leading away from the pavement. They may be a few feet long or hundreds of feet, but enough people have taken this same unofficial route that it has become an obvious option – the proverbial road less traveled.

We often just call these shortcuts – and indeed Wikipedia suggests they are often “the shortest or most easily navigated route between an origin and destination” – but they have an official name in the urban planning lexicon: Desire paths.

Desire paths are not created by design; rather, they are the natural result of people who look around and see a better way to get where they’re going. Over time, as these trailblazers prove this new route’s success, the path becomes visible even to those who wouldn’t naturally think to take it. Now they can see there is another way, and they can choose to follow it or stick with the more conventional path.

Clearing The Way

I heard about desire paths on the 99% Invisible podcast and was immediately smitten with the name and concept. The phenomenon originates in urban planning, but it also crosses into technology. Twitter’s hashtags and @ mentions were not functions created by Twitter’s developers, but rather conventions it adopted after seeing how its users were communicating with one another.

It’s also a perfect metaphor for the FIRE movement.

What we’re seeing now with the proliferation of personal finance blogs and podcasts that have a financial independence and early retirement theme is a digital desire path. Enough trailblazers have proven there’s a faster way to get where they are going – a shortcut to retirement – and we can choose whether to break from the expected path and follow their lead.

Is that the right choice for everyone, however? Of course not.

But there are some who spy that developing shortcut and think, “I’ve got better things to do with my time than take twice as long to get where we’re all going.”

The Pioneers, The Early Settlements, And The Railroad

Perhaps the most famous desire path in the U.S. is the Oregon Trail. From 1840-1880, nearly 400,000 people loaded up wagons and headed west to a brave new world.

“As the Oregon Trail evolved, thousands of wagons wore ruts into the ground that acted as an ad-hoc road for the settlers who followed. But they didn’t follow a single solid path. Rather, wagon wheels left ruts across the country as pioneers found various shortcuts and easier routes along the way.” –  Smithsonian Magazine

There were desire paths sprouting from desire paths – just as there are many paths to early financial independence! (By the way, do you know where The Oregon Trail officially began? Independence, Mo. How’s that for an FI tie-in?)

So obvious was the success of The Oregon Trail, along with other similar trails, that it became a more permanent path that future travelers would take as riders on the Transcontinental Railroad.

The history of the financial independence/early retirement movement is very similar. As Early Retirement Dude writes in his brilliant “The History of the FI/ER Movement (2.0)“:

“It hasn’t been that long since anyone who was pursuing it was operating in a near-total vacuum: one where you had to collect and assemble your plan’s components without much, if any, outside help… You’re living in a perfect storm: a moment in history when circumstances have never been more favorable for achieving financial independence and early retirement.”

He talks about the early pioneers whose footsteps today’s FI seekers walk in. People like Amy Dacyczyn, Vicki Robin, Joe Dominguez, Jacob Lund Fisker, and those posting on early-retirement.org. Their contributions in the form of “The Tightwad Gazette,” “Your Money or Your Life” and Early Retirement Extreme were the original waypoints along the trail where travelers could stop to rest and commiserate. They inspired others to keep going.

There’s No Stopping an Ingenious Mind With a Deep Desire

Later travelers of The Oregon Trail created alternate routes from the original path to shorten the trail or to get around obstacles. These “cut-offs” would themselves become established options for those who came behind them.

In the FIRE community, people like The Mad Fientist guide people in tax optimization and Roth conversion ladders – laying out cut-offs for financial obstacles others just accept as part of the journey.

Many of the voices in the personal finance community are software engineers and entrepreneurs – people whose nature is to create something from nothing. Such was the constitution of the pioneer stock, who were undeterred by what was because they saw what could be.

The FIRE writers, bloggers, podcasters, and forum members are the equivalent of the Transcontinental Railroad. They offer a proven, relatively safe, way to reach an endpoint at a speed once thought impossible. Big names like Mr. Money Mustache help spread the word and get curious people thinking about what such a trip might be like. His “The Shockingly Simple Math Behind Early Retirement” article is essentially a railway fare board, showing people the price of a ticket to freedom and a life they currently only dream about.

But, of course, there are many vehicles and routes to financial independence. Not every path suits every person or every situation.

Which Brings Us Back to Desire Paths

We may share many of the same predictable, paved roads along the way. But each of us has a chance to pick up our head, look around, and decide which way we’ll go. For some, that rock-solid sidewalk with its well-defined edges and overhead lighting is soothing and secure.

For others, the allure of a well-worn path and a little adventure is a chance too hard to pass up. And then there are still those who envision an entirely new way to their dream destination, whose desire to create one may someday inspire others to follow.

This passage from Robert Frost perhaps says it best:

“I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I –
I took the one less traveled by,
And that has made all the difference.”

desire path mountain range

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I Dream of FIRE is written by a late 30’s married father of two college-age stepsons and a 5-year-old daughter. With one foot in each end of parenthood, he explores the financial realities and challenges of seeking financial independence with kids at either end of the spectrum. Some of his popular posts include The Highly Effective Money Management Matrix, Coming to Terms With All The Debt I Never Thought We Had, and Don’t Compare Your Middle to Someone Else’s Beginning.

[Desire path up top via Duncan Rawlinson / Others by the author and Google Maps]

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Wednesday, January 24, 2018

Is It Time For a “Depth” Year?

depth year

Guys, you HAVE to read this post by my friend David Cain – it’s so good!! And EXACTLY the stuff we need to be thinking about as we go along our journeys here:

Go Deeper, Not Wider

I don’t often get sucked into articles like this, but wow…. such a great piece on perspective and inspiring change in our lives – or rather, FOCUS in our lives and not changing with every opportunity we get! I imagine it’s a great way to slow down time a helluva lot too.

Here’s the gist of it:

“I keep imagining a tradition I’d like to invent. After you’re established in your career, and you have some neat stuff in your house, you take a whole year in which you don’t start anything new or acquire any new possessions you don’t need. No new hobbies, equipment, games, or books are allowed during this year. Instead, you have to find the value in what you already own or what you’ve already started.”

YES!!!! Appreciating what we have RIGHT NOW and not constantly bringing in more and more “stuff” or jobs or projects or anything else distracting us from just “being” and growing.

What if we did stop and enjoy everything we already have in our lives? What if we didn’t start something new or continue adding in extras all round us just because it’s what we’re used to? How would that make us feel as we go to bed every night? How would that change our finances or dreams?

Such a good thing to stop and marinate on today, and not unlike our own Triad of Hustling concept, and why I ended up FIRE’ing myself from Rockstar Finance the other month…

In fact, had I read this post beforehand I would have saved myself a solid 6 months of struggling and trying to figure stuff out! Haha… Particularly on the whole “starting a new project” thing. You’ll never meet an entrepreneur who’s not chasing a new product or feature or anything else that pops into our brains because EVERY IDEA OF OURS IS AMAZING!! Which of course is the opposite of true, but we’re so addicted to the thrill of the “new” that we end up spreading ourselves way too thin instead of just doing the one thing we should have been doing from the start: focusing.

The same goes with everything we bring into our houses too. How many books are on your bookshelf right now just waiting to be read?? How many new pairs of shoes or shirts or purses are in your closet that you couldn’t live without, yet there they still are with their tags on and all? What if we started consuming everything we owned vs continually bringing home more? I bet it would feel pretty refreshing on top of all the future savings. It would also give you an opportunity to finally part with all those things that are no longer important to you and taking up beloved mental and physical space!

So yeah – highly recommend the post, and really David’s entire blog for that matter: Raptitude.com. He writes about this stuff much more eloquently than me ;) It’s like having your own personal genius in your pockets, where every couple of weeks it pops up to make sure you’re living a more purposeful, and joyful, life, haha… It’s great. And he’s got handfuls of nuggets piled up from over the years too!

I’ll leave you with one more passage that really brings home the article:

“It’s wonderful to have the freedom to continually widen our interests. But like many luxuries, it has an insidious downside. Ever-branching possibilities make it harder for us to explore any given one deeply, because there’s always more “newness” to turn to when the old new thing has reached a difficult or boring part…

We need to find a way to put up our own limits. When we give ourselves fewer places to dig, we go deeper, and what we uncover is more rare and valuable than the usual stuff near the surface.”

I think it might be time for all of us to consider a Depth Year and see what we’ve been missing… Or if that’s too overwhelming, maybe a Depth Month and going from there? Hell – if you can get through the next 5 days without buying or doing something new it might be a win! Haha…

And you know what, that’s exactly where I’m going to start myself :) For the next 5 days – including over the weekend – I promise to not pick up another book or coin or anything else “extra” in my life, and only consume (and appreciate) that which I already own. Which will be quite challenging because I’m ALL ABOUT BOOKS right now and can’t get enough! (And even libraries will be off limits!)

But you can’t enjoy what you have if you’re always picking up more, right? More  more, in this case. Appreciation = more. And we’ve all got a $hit ton to be appreciative of.

Think it over today, and let me know if you’re joining… There’s no way it could hurt!

Via Finance http://www.rssmix.com/

Tuesday, January 23, 2018

What Is Bookkeeping and Why Is It Important For Businesses in Maui

Not many can tell exactly what is bookkeeping and why is it important for small or large businesses in Maui. Often times, we hear terms such as bookkeeping, tax preparation or accounting, but have no clue as to what they mean or what’s the difference between them. As a company owner or even you’re self-employed, …

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Monday, January 22, 2018

An Interview with Matt Cutts: Can the Government grow a Money Mustache?

One day last week, the icy grip of a winter storm broke and the skies of Colorado returned to their normal state of deep blue with bright sunshine. So I decided to head out for a hike on the warm red rock trails just outside of Boulder.

Taking a break on a big rock at the summit of the mountain, I pulled out a snack and a tiny glass-encased computer from my backpack. I unlocked it with my fingerprint and casually learned a few things, shared a few ideas, and conducted a few thousand dollars of business before the bag of carrots was done, then snapped a twelve-megapixel image or two before pressing the lock button and tossing the phone back into my pocket.

I took a brief moment to marvel at the efficiency of this whole situation, and how much wealth it brings to people like you and me who are privileged and clever enough to get set it up in our lives.

Efficiency reduces waste and multiplies your productivity, and even a small helping of it is enough to tilt you into a lifetime of financial surplus. Yet it is so rare that most people in the richest countries spend most of their lives in debt.

This contrast was illustrated dramatically as I descended from that Millionaire’s Rock and returned to reality. I needed to renew my driver’s license, so I stopped at the Department of Motor Vehicles only to find a two-hour lineup of people, waiting to speak to an understaffed roster of tired employees, manually entering information that was already duplicated on countless other government servers, into their own antique computers. And this was obviously not a new problem: I could see signs that a construction project was underway – the waiting room was being doubled in size to allow more people to sit and wait.

THIS”, I thought, “is why so many people hate the government. Here we are spending taxpayer money on more drywall and willingly wasting my time, instead of figuring out the root of the problem, which is that I should have been able to renew my driver’s license with a smartphone app, at least any time after the year 2010.”

And I have similar stories about paying my city utility bills, applying for building permits, handling payroll taxes, and legally immigrating to this country in the first place. We need these public services, but we’d all be much wealthier if they worked more efficiently.

Why does this happen? Why is almost everything from Silicon Valley shiny and efficient, and almost everything from Washington DC (or the local government office) crusty and outdated?

In a word: Humans. When we work in big groups, we grow less efficient. When our groups have been around too long, we get even worse. When the management structure is too messed up, nobody is willing to take risks.
And most importantly of all, the most effective workers know all of this, so they avoid seeking jobs where they’ll be stuck in a crusty work environment.

In other words, truly talented tech workers rarely apply for government work, reinforcing a circle of inefficient services for citizens, and a low public opinion of government efficiency. Is there a way to fix this?

Enter Matt Cutts and the US Digital Service

Matt Cutts arrives in central DC, after a midwinter morning’s bike commute to work.

Luckily, this self-reinforcing problem was not lost on the world, and some people have been trying to crack it.

Imagine, for example, if we could take one of the core developers of the Google search engine (one of the most efficient pieces of software in the world’s history), and get him to leave the lucrative tech industry to help the ailing public sector?

Matt Cutts is famous enough in the software world that he has his own family of followers known as ‘cutlets’. The Wall Street Journal stated in 2009 that ‘Cutts is to search results as Alan Greenspan is to interest rates’. And some of his efforts leading the Webspam and SafeSearch teams are the reason you can get useful Google search results instead of the monetized junk that is always trying to game the system and collect your clicks.

Then, imagine you could pull in a bunch of other top-tier developers and designers, empower them in Washington, and put them to work solving some of the nastiest efficiency problems?

It would be a tough job, but it would also be some of the biggest bang for the buck you could ever achieve, because all the fruit is juicy and hanging very low from the trees.

In Silicon Valley, you might compete to shave a dollar off the cost of app-powered flower delivery for a few thousand high-income families. In the federal government, you can change the lives of hundreds of millions of people whose lives are affected by government services.

Veterans applying for medical help, people applying for visas, businesses trying to win contracts or comply with regulations. Doctors trying to finish Medicare paperwork so they can spend more time with patients. And the Department of Defense gaining better security, to avoid having their information (or their nuclear launch codes) pickpocketed by hackers from more nimble organizations.

So, this has actually started happening.

In 2014, a critical mass of tech-savvy people in the White House were able to form something called the US Digital Service and begin looking for talent. In 2016, they found a willing recruit in Matt Cutts, which is around the same time I met him*

After kicking around the idea for a few years as I watched some of the progress via his Twitter account, we finally decided to do this interview. So let’s get into it!

Matt Cutts and the US Digital Service

MMM: How did the idea of the US Digital Service get started? Was it directly from Obama’s staff contacting you, or someone from the tech industry looking East?

MC: The US Digital Service got its start from a pretty big disaster: when the healthcare.gov website failed back in 2013. Regardless of whether you’re conservative or liberal, it’s pretty wild to see a signature presidential initiative at risk because the enrollment website didn’t work well. Todd Park, who was the CTO of America — how cool of a job title is that — recruited a small cadre of tech folks to help the website hobble over the finish line. Within a few months after that success, the government stood up the Digital Service to help on other technology projects throughout the government.

MMM: When I hear the word “Digital Service”, it has some echoes of both Secret Service and the military, like you sign up to be one of The Troops. Do you see parallels (and major differences) between enlisting for military?

MC: Absolutely. One parallel is the Digital Service asks people for a limited tour of duty. Most people end up staying for over a year but less than two years. We also try to set the expectation that like all jobs, some days are harder than others and can be really challenging. The idea is that we promise to find high-impact projects that will benefit others when you bring your expertise to government.

That can mean working in stressful situations where things aren’t going well. Your readers know how important it is to stretch ourselves to learn in new situations though, and how meaningful it can be to align our mission in life with our beliefs**. And of course, one huge difference is that no one in the Digital Service is put in harm’s way like the military or Secret Service.

So the work is demanding, but it’s nowhere near as hard as the military. We’re still sitting indoors while talking to people or tapping on keyboards.

MMM: How do the pay, benefits and work environment compare between USDS and private industry? What about living expenses in the area. Any perks or career advantages you perceive to working there?

MC: It’s a misconception that you have to take a huge pay cut. USDS can pay up to the maximum government “General Schedule” salary, depending on previous experience and salary. That can mean around $160,000/year. We ask people to move to Washington, DC, which is an expensive place to live, but it also has great public transit. You really don’t need a car in DC and it’s possible to live close to where you work.

I usually ride my bike to work and get a free workout each day. I will note that when working for government, you don’t always get to use all the latest cloud-based productivity tools that you can access in a startup, but that depends on which agency you’re working with.

MMM: What major things has the Digital Service accomplished so far? Do you have an estimate for how many people are affected and how many dollars (and hours) have been saved, versus the amount spent on the program?

MC: Oh man, I could talk about the work we’ve done for a long time. Sometimes it’s bringing time-tested industry best practices into the government. Take bug bounties, for example. The idea of offering money to researchers who find security holes has been used since 1995 on Netscape. But the Federal government had never done a bug bounty before. Our team at the Pentagon has run 7-8 bug bounties with great results: the government is more protected, and bug bounties can be cheaper than other ways of finding security holes.

Here are a few additional accomplishments:

These are just a few projects we’ve done. If you want more nitty gritty details, check out our multiple reports to Congress. Or if anyone wants to apply to the US Digital Service, we’d be more than happy to talk about projects in more depth.

With a modest budget, we’ve helped tens of millions of people across the US. A pretty conservative estimate is hundreds of millions of dollars saved. Plenty of labor hours have been saved, too. When a computer can check that all the documents for an application are attached and complete, for example, that saves manual checking, not to mention time (and postage) mailing paper back and forth.

MMM: When working on complex software projects in a big company, I found the hardest part was often the beginning – after you have a foundation you can work off the same pattern, your reputation grows and your progress grows exponentially. Do you see this happening in your work so far?

MC: It really varies based on the situation. When there’s a crisis, we can move quickly. Other times, an agency does need to see that you’re committed over time. Lots of people in the government show up promising to help and then don’t deliver. So we start off small, building trust and credibility.

One example was veterans’ disability claims. The people judging those claims had to download dozens of documents one at a time. So we built a “download all” button for them. It wasn’t hard technologically, but it solved an actual problem. It showed that we were listening to their issues and were serious about helping. From there, we were able to build up a relationship with partners and stakeholders. In fact, we just passed 100,000 Veterans whose appeals happened a little better or faster because of tools that we built.

MMM: From the outside, I have imagined that many of the government’s priorities turned over after the 2016 election – Have you noticed a change from the inside, or do you feel your work remains prioritized and valued?

MC: Practically everybody agrees that we need government services to be more modern. Did you know that the government runs some technology systems that are over 50 years old? This still amazes me. Improving technology is one of the few ways where a service can get better and still cost less. Our work is nonpartisan, and we still get to work on important projects that matter to the public.

Earlier this week I got to have breakfast with members of Congress from both sides of the aisle, and it’s remarkable how much common ground there is on improving technology so the government works better for people.

MMM: There’s another group called Code for America that has a similar-sounding mission to the layperson. Could you explain the difference between CfA and USDS?

MC: Code for America is a great group of folks! They’re a non-profit that works primarily with state and local governments to improve their technology. The US Digital Service is a part of the Federal government, so we tackle programs at a national level. It turns out that the civic tech space is pretty small in some ways, so it’s still possible to get to know a lot of people who have an outsized impact on technology in government. Code for America is one of the organizations that got me interested in civic technology in the first place.

MMM: Has financial independence played a role in your willingness to do this job?

MC: No one needs to be financial independent to work for the USDS–we pay solid salaries–but my previous career as a software engineer did give me the freedom to work on what I want. But you’ve made the point over and over that financial independence doesn’t automatically mean that you stop working–it means that you work on what you want to work on. At the US Digital Service, I get to work with amazing people who are tackling projects that really matter.

MMM: Should readers of this interview apply to the USDS? If we wanted to filter to exactly the right candidates, how would we do it?

MC: Yes, they should apply! We’re always looking for mid-career software engineers, site reliability engineers, product managers, and designers–people who have accumulated some real-world experience and maybe a few scars. If you can stand up a major web service, for example, that’s a plus. We also look for folks with emotional intelligence and the ability to tell the truth in hard situations. You may need to sit down with a cabinet secretary and break the news that their new product isn’t ready to launch yet.

MMM: How else can they support you?

MC: If your readers are not ready to apply themselves, maybe they know a good software engineer and will encourage them to apply? Also feel free to share this interview with them or elsewhere on social media. :) It’s important to know that there’s a third path open to technologists now besides academia and industry. And it’s possible to find jobs that are meaningful even if they can also be hard. Keep looking until you find one that’s right for you. Lastly, you can follow USDS on Twitter and on Medium.

MMM: Thanks for your time Matt, and thanks for taking the time to help out in the world. This article is part of an ongoing series of “Interviews with Interesting Mustachians”, and there are quite a few in the queue for this year. To a prosperous 2018!

And if you have questions for Matt and the USDS team, feel free to write them up in the comments. I’ll invite them to participate in the discussion.

 

* I first heard about Matt when he sent me a random PayPal donation in 2015. It was a shock:in a long-ago article in the very early days of this blog, I had put a donation box in an article with a comment like “Hey, you can keep reading for free, but if you insist on sending me money, here’s the way to do it.” He shocked me by sending $100.00, so I looked up his biography and sent him a thank-you email. Later, he enticed me into attending an underground conference called “Foo Camp,” which involved spending a weekend camping out with 200 young Silicon Valley tech titans and giving impromptu talks to each other. I gave a talk on Mustachianism, and answered questions from a guy at dinner about index fund investing. Later, someone pointed out that it was sci-fi legend Hugh Howey, and both my son and I have since gone on to read most of his books.

** Matt and I did this interview by collaborating in a Google(of course) Doc, which means he was able to add his own links. So, all the links within are by him. I noticed that some of them, like this one, link to old MMM articles. I was impressed by his deep and historic knowledge of Mustachianism. ;-)

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The Hybrid Budgeting / Zombie System

zombie budgeting

Alright guys, I think we found our happy medium with the cashless society debate ;)

A guy I met at FinCon last year chimed into our convo here, and he officially wins the award for being the most creative, haha… But also super USEFUL too! Because not only does this take the pros of both sides of the equation (cash vs digital), but also solves a slew of those budgeting problems we listed out on Friday too.

Here’s his idea, in response to me wooing people with points if they can convince me cashless is good ;) Let me know what you think:

Hey J. I will take you up on triple point offer! Actually, I’m going to want 1.5x in brownie points as I’m going to convert you to a hybrid system.

Here it is:

#1. Put your “Regular” expenses on autopay from one bank account. “Regular” = fixed expenses (including savings) in accounting terms.

#2. Deposit enough, but only enough, in that account to cover the Regular expenses that come due until your next paycheck. For most people this will amount to 40-70% of their monthly spending. Consider every dollar deposited to this account spent the moment it is deposited.

#3. Withdraw the remainder of your pay in cash.

#4. Divide the cash up into your “Irregular” expenses in the amounts you would like to spend on each in a perfect month.

#5. Doll out the cash as needed. If you run out of cash in one category, you can decide which area of your spending life needs to take the hit to subsidize the shortfall in that area. (This makes you decide if the overspending is a necessity, was bad planning requiring an adjustment, or just crappy willpower on your part)

#6. Repeat for next paycheck

Here is why this works so well based on the semi-doomsday scenario you wrote about.

  • No electricity to transfer funds for a payment that is due? Not to worry, the bank or vendor can’t tell you haven’t paid because their system is down too!
  • Even if they could tell you haven’t paid, they can’t come get your stuff because they can’t look up where you live, because that too is in some e-database somewhere
  • The utilities can’t shut off your power because it is already off due to the zombies

So there you sit with your little pouch full of cash from which you can buy groceries and toilet paper. Pretty nice. And who knows, since you are one of the few shoppers with cash, the grocery store may be open to huge discounts on their perishables and frozen foods! So enjoy your flame grilled steak and lobster tonight that you bought for less than the mac & cheese was going for.

Upon official notification, I’ll shoot you my brownie point bank account number so you can send my winnings electronically.

Cordially,
Mitchell Walker

Not too bad, sir! One foot in the digital landscape, and one in the cash-is-king other – milking the pros of both, while not screwing yourself by going “all in” on either.

I can dig it… Another perk is that if your cards/accounts get hacked, they only have access to a portion of your money too (which may or may not be there by the time they get in), and if the government is on your tail, they’ll also only have a portion to go on! Leaving you to your own sneaky lifestyle and improprieties! Boom!

So your points are on the way, Mr. Walker, and I salute you for your creativeness.

Although, I must say – I kinda feel like you cheated, as I just stalked your website and saw that this is the same system you’ve been peddling to all your friends and family too! For years now!

And you know what? I ABSOLUTELY LOVE IT :) Not only did you figure out a set up that really works for you and your money, but you then took it step further and decided to share it with the rest of the world too. Thanks for paying it forward!

And in fact, I take back all your brownie points, and in exchange give you something much better: FREE PUBLICITY. Let’s turn this into the “Mitchell” show today and spread around all your goodies – what say you? (I take that as a yes since I can’t hear you… let’s do this!)

>> Introducing, The PouchPlan System! <<

Tired of always being stressed out about money? Worried about the apocalypse and all those empty bank accounts of yours? Worry no more – there’s a budget for that! Introducing, The PouchPlan Budgeting System by Mitchell Walker!

The PouchPlan combines the best of the envelope budgeting system with the advantages of today’s electronic payment abilities, [resulting] in a safer, more reliable, and less active participation requirement for users… It’s core is a naturally intuitive based spreadsheet that has you split your expenses into those which are regular in amount and frequency and those expenses that are not…

The spreadsheet automatically calculates your bank deposits, cash needs, and the timing of both, not just your budgeted amount. Once set up, you are on autopilot. It requires about 5 minutes per paycheck to keep you exactly on target with your plan.

So not only is The PouchPlan a fully-integrated system, but it’s wrapped around a customized SPREADSHEET too! And it’s all yours, free of charge! –> Full Feature PouchPlan Spreadsheet

But that’s not all! Take this spreadsheet, and then throw in a copy of Mitchell’s corresponding book for only $14.95! (Or $3.95 for the ebook) Great for all ages! (But really just adults): The PouchPlan Budget: The Simple Way to Find Hidden Money, Improve Your Life, and Build Wealth

But wait, order now, and get this complimentery Tedx Talk too! An 11 minute value, absolutely yours and guaranteed to hype you up:

So what are you waiting for?? Pick up that mouse and order now! There’s only *unlimited* copies, so act fast!

// End Infomercial

(Did I say it was going to be an infomercial? I guess you get what you pay for… ;))

*******

Haha… But seriously, if “budgeting better” is at the top of your New Year’s list, check out his system and see if it helps. It really does sound good, despite my antics here!

Big thanks to Mitchell for being a good sport about it all today, and reminding me yet again why I love blogging for a living ;) I can’t believe this is a real job!

‘Till next time…

*******
No budgets were harmed in the making of this promotion.

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Friday, January 19, 2018

Do I Need CPA in Maui

Do I need a CPA in Maui? If you own a large business or if you are a trustee or a fiduciary for trust and estates, you clearly need to rely on a team of skilled accountants to assist you with your tax returns. But if you’re an individual or a very small business owner, …

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A List of Popular Money Problems & Side Hustles!

ugh coffee mug

So I just spent two hours tracking allllll the entries that came in from our journal giveaway the other week (winners announced in a second), and thought you’d enjoy seeing some of the comments :)

If only to help you feel better that YOU ARE NOT ALONE with this $$$ stuff!

We’ve all got our problems!

Here are the tallies of everyone’s biggest trouble areas who entered – check it out:

money problem areas

Problems problems, everywhere! And as you can see – FOOD gives us all the most beef. Coming in at both first and third place, and even beating out the granddaddy of all problems – BUDGETING.

And I’ll admit it – our grocery bills aren’t the hottest either. How people eat for under $1.00 a meal is still beyond me, even though we’ve covered it over and over again here on this site! I think I’ve just resigned myself to accepting it and moving on to other areas, haha… Is that bad?

Next on the list you’ll also see TRACKING EXPENSES and DISCRETIONARY/MINDLESS SPENDING, followed by IMPULSE SHOPPING and then ENTERTAINMENT/SOCIALIZING with friends.

But my favorite was what came next: GETTING SPOUSES TO COOPERATE with your budgeting/finances! This guy here had me rolling!!

“What’s the one area of my budget I struggle with the most? My wife. $30K over budget for 2017. The budget category is “wife” because she has no idea on what the money was spent on.”

I don’t even know what to say! Other than of course that it’s not funny, and I probably shouldn’t be poking fun at it ;) But again – this is life!!! And there’s always something for us to be working on regardless of how good or not we’re doing with our money!

So please don’t let this stuff bring you guys down – it’s normal. And we’re all here to learn and get better over time like the good humans that we are.

If it helps, one of the BEST things my wife and I did when we first combined our own money was to set up or own “do whatever you please” accounts that allowed us to spend as freely as we’d like – without feeling bad or annoyed about what the other person would say ;) We capped it at $100/mo, but it was enough to relieve some pressure and can really be set at whatever you want. The trick is putting that *cap* on it though, so you know exactly how much you’re working with to not only budget better all around, but also to better reign in all your discretionary splurging as well. And believe me, when you know you’re not allowed to take out any extra money until the next month, you learn quick! (And it also helps both parties feel more in control too, regardless of who the main manager of the finances is)

So yeah, take it for what it’s worth!

Here were some other notes people sent in too that I found interesting and/or was nodding my head in agreement with the entire time:

“I have a hard time with “sales” for things I don’t need *at the moment* but can use/need later. It’s almost like hoarding…”

**********

“My problem area with budgeting tends to migrate… I’ll notice I’m spending too much in one area (e.g eating out) so I’ll do an awesome job of reducing my spending in that category, but then I nearly always blow out somewhere else; like I’ll buy lots of books, or drive around and do lots of different days walks with my dog and wreck the petrol budget. I’m improving, but I don’t quite have my savings rate where I would like it to be!”

**********

“I struggle with impulse buying and sticking to my budget. It is horrible. I literally need someone going around with a cane to smack me anytime I buy or even look at something that isn’t on the budget. I see something and I decide that I must have it. Only to realize that I probably don’t need it and in the part of the world where I am, we don’t do returns 😭. Even when I know I should not, I still go ahead and buy. I need serious help. Lol.”

**********

“Ok J. Money, here’s my deal. My issue is not lattes and brown bagging lunches. I think most budgeted followers step over those penny’s to save dollars. For me it’s those multi hundred purchases. The Roomba, the high quality skin care, clothes to look good at the dinner party in upper middle class suburbia/hip family neighborhood x, new hobby (photography, watercolor, books!). This is the stuff that fills my soul or makes my life easier… sometimes temporarily and sometimes longer (which is why I keep doing it). Leave me the lattes and help me purge my $39.95 (five at a time) book purchasing habit! I want to read ’em all but you know I only ever get to like 1.5 of them. I need to split the wheat from the chaff and get wiser about those hundred something purchases that seem to show up every month.”

**********

“The area of my budget that I struggle with the most is balancing fun with goals. I have my emergency savings and retirement accounts set up and am working towards paying off student loan debt (about $60k). I struggle with putting large amounts of money towards the debt while still making sure I spend a reasonable amount of money towards fun activities so my life isn’t totally boring!”

**********

“I teach mindfulness as a psychologist and life coach, and have a beautiful day planner that I use on a regular basis (for my regular business and side hustle) because I’m very old-school and am not into digital things. Friends tease me that I only use my smartphone for phone calls! Due to this, I have struggled with the most with creating a detailed budget, which would involve first entering daily transactions to track my money, because even with the amazing programs out there (Mint, Personal Capital, etc.), I can’t seem to make myself get online to do it. I already know I would use a budget planner as I use my other planner daily, and did not even know budget planners existed until I saw this post, so thanks for sharing the info!”

 

Now to The Sea of Side Hustles!

So the above was all in response to trying to win our Mindful Budgeting Planner we were giving out, but then we had a 2nd giveaway too, all around a new Side Hustling Journal recently launched.

We asked people what gigs they were considering and/or already working on, and the results there were as varied as they were interesting as well! Check out the list below – maybe it’ll spur an idea for you too?

side hustle list ideas

The beehives, video cookbooks, and electric bike ideas were my favorites :) Outside of blogging of course (which should really be more about passion than making money, as there are plenty of better/faster ways to make $$$ than blogging! Although it is fun, not gonna lie!)

Here are some snippets passed over which goes into more details on some of them:

“I want to purchase several beehives and start a small business making homemade beauty products and honey. As well as offering sponsorships to the community to aid in the care of a hive so everyone can do their part to protect the environment and the honeybees.” – Emmie

**********

“I get a lot of compliments on my hair and questions on how I grew my hair long and strong. So my side hustle is providing a healthy hair journey (from shampoo/ conditioning to flat iron techniques) with same expected results of long and strong hair.” – Pam

**********

“My plan is to start an adventure guiding business so that I can help share all the of the cool things I’ve found in this country (and eventually the world) with others (potentially kids?) to really show them what natural wonders our world has to offer.. whether right in their backyard, or across the globe!” – Justin

**********

“I’m in the very early stages of Video Cookbooks focusing on alcoholic desserts. (I.e. jello shots, pudding shots, fudge and cakes.” – Jennifer

**********

“I started a custom furniture business a couple years ago, and am changing course in that this year to focus on portable furniture and accessories to get people bringing their hobbies outside with their friends and family.” – Dan

**********

“I have a fantastic idea for a pet product. It is actually a food product that I’ve already had tested at my local animal shelter with homeless dogs & cats. I cannot quite figure out what is holding me back from pounding the pavement…” – Laurel

(Here’s our own list of 70+ hustles we’ve featured over the years (and more in-depth) as well… There is always *something* you can do to channel your passion/skills! People need a LOT of help with things that you can do in your sleep!)

Onto The Winners of Our Two Planners…

planner giveaway

Alright, so totally didn’t mean to tease y’all the entire time, haha… There was just SO MUCH GOOD STUFF in y’alls entries and they had to be shared! :)

But here we go – the winners of the two journals are… bum bum bum….

Congrats! If you didn’t win, PLEASE don’t let this stop you from still going after all your dreams and financial goals!! Spend the $30 or $40 picking up these journals if you think it’ll kick your ass in gear, otherwise just COMMIT to yourselves that you’ll make it happen on your own – and then go do it!

Gotta keep trying out angles until you find the one that works… But it all starts with “trying!”

See ya back after the weekend :)

(And hide all those wallets from the food/clothes/sales/amazons/husbands!)

**********
Big thanks again to Cait and Ryan for offering up these items for us to pass out! And for Nathan Dumlao for the killer mug shot, haha… DADDY WANT.

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Wednesday, January 17, 2018

How Do CPA Bookkeeping Services in Maui Help a Small Business Grow

Did you know Maui CPA bookkeeping services can really help a small company grow? Starting a small business is a big step for a young entrepreneur. And although you might think accounting services are expensive, it’s wise to hire a CPA bookkeeping professional to help with your finances. Working with an expert means budgeting for …

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Is a Cashless Society Really That Good??

$500 bill

Read an interesting passage in a coin magazine recently, and it was talking about all the pitfalls of a cashless society, and how we need to be aware (and prepared) if things continue to go down that path.

It’s not very shocking, considering our whole coin collecting hobby RELIES on the physical form, haha… (“Oooh look how nice and shiny that digital coin is from 1787!” – said no collector ever), however, the points the article brought up were certainly things to marinate on.

Particularly this:

No matter how much money may be in your account, it can be impossible to reach it.

Freaky. The internet is a Godsend for all of us, however being completely dependent can cause a world of hurt too. Because in the event of an emergency, whether natural or man-made, we’re all F’d if the electricity goes out! No power = no cash, food, water, candy, communication, Pokémon, and on and on…

According to the article (and, well, technology), the following three things must *always* be connected at the same time in order for digital currency to work:

  1. Electricity must be available at all times
  2. Communication needs to be open between all network components at all times
  3. The network has to be secure at all times

And we all know just how frail that last one can be… My pet rock is more secure than some big institutions out there! And I even let him outside at all hours of the night by himself! (Okay, couldn’t come up with a good analogy here, so just roll with it and smile and nod, haha…)

So what do you do to combat this? Well, according to economist and research scientist, Jay L. Zagorsky, you bring back $500 bills again of course! Those beautiful little specimens that roamed free in this great nation of ours over a half century ago!

Why? “Higher denominations are preferable for the sake of compactness and efficiency”, particularly during disasters. Or you know, zombie attacks. (I literally have $500 cash in my safe just for this (disasters, not zombie attacks), and coincidentally also a $500 bill because they are bad ass! And also worth much more than face value…)

But he’s got a point. Everyone accepts cash, and unless someone robs you, it’s just as easy to store and hold onto than a credit card or crypto wallet, whatever that means.

And as much as I adore me some technology – particularly the internet so I can type these fine words out to you guys – I’m very much still a fan of keeping cold hard cash around. Not only do I enjoy holding and seeing and feeling it (sometimes even smelling it! ‘Cuz it smells so good!), but it also helps me to be more conscious of my spending as well. It’s much harder for me to take out stacks of cash to pay for something than it is to swipe a credit or even a debit card. I become hyperaware and more mindful of everything I do.

And this very much goes for automating other areas of my life and finances too. Great for efficiency, not so much for control. And if you don’t make a habit of checking in on these things every now and then, you’re liable to find yourself in a tricky position.

So really the key with all of this is to just *balance* the two areas of these merging worlds as best you can, and always do your best to be as *aware* as possible. Neither option has completely overruled the other yet, but it’s safe to say which road we’re headed down…

That is, unless, our economist friend pulls off the upset of the year here, making every collector’s wet dreams a reality, haha… But odds are my credit card will be hacked* 13 times before that happens.

So cash still rules everything around me, C.R.E.A.M!, get the money – dolla dolla bills y’all…

(5 points if you can tell me real quick who sang that? And triple the points if you can convince me to join these cashless societies ;))

———
*Best tip I can ever give on hackery stuff: spend 5 minutes and list out where all your credit cards are connected to right now! The Amazons, Paypals, Netlflixes – everything you can think of. Then when your card does get compromised (and we all know it will), you’ll already have a list prepared of all the places you need to go in and update later. Making the whole process slightly less annoying, but also forcing you to re-evaluate all those services in case you can shed any, giving yourself the gift of savings as well. It doesn’t protect you entirely from the whole ordeal sucking, but you will be thankful that your past self hooked you up like that… And I should know, I had to do it TWICE last year! And this helped!

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Monday, January 15, 2018

Reasons to Hire Maui County Tax Services

Hiring a professional to help you understand Maui county taxes is a good idea. If you have one or more properties, or even if you have a commercial property of your own, it’s important to understand when and how much taxes you’re supposed to pay. A Maui county tax that is assessed on real estate …

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The Legacy, and Money, of Dr. Martin Luther King [And The “Freedom Budget” For All Americans]

martin luther king jr mug shot

“There is nothing in all the world greater than freedom. It is worth paying for; it is worth losing a job for; it is worth going to jail for. I would rather be a free pauper than a rich slave. I would rather die in abject poverty with my convictions than live in inordinate riches with the lack of self respect.” – Martin Luther King, Jr

I was originally going to blog about how money is only temporary, but then I looked at the calendar and realized it’s Martin Luther King day. So instead, like a true nerd, I decided to find out if the good doctor was as amazing with his finances as he was fighting for social equality ;)

And the short answer is, yes and no. Yes he could have kept all his earnings to himself and better secured his family’s finances, however his #1 mission in life as we all know was not to grow his personal wealth or retire early (was that even a “thing” back then?), but to advance our civil rights. Which of course he succeeded magnificently.

True to his words above, he left this world with much more conviction than money:

MLK Jr. died not only without financial assets, but without a will. Despite his widely known premonitions concerning his own early demise… King died intestate. Although his wife Coretta had admonished him for years to set some funds aside for the higher education of their four children, King left his family with no appreciable benefits from his five books, hundreds of speaking engagements, his ministry, and of most concern to his wife, the $54,600 he earned as recipient of the Nobel Peace Prize. While Mrs. King thought some of the award money should be invested for the children’s sake, her husband donated the funds to the movement.

That $54,600 he was awarded in 1964, btw, is equal to about $416,000 in today’s dollars. Plenty enough to secure your kids’ future for a while. (Interesting side note, legendary singer Harry Belafonte ended up raising money to ensure that King’s children were supported through childhood and educated. This article over at Salon.com goes into a bunch of things most people don’t know about M.L.K. if you’re interested in reading more.)

So yes, he was good at prioritizing where his money went, it just didn’t go into his own pockets :) His daughter Bernice King, however, rings in at a fair $1.5 million according to CelebrityNetWorth.com (don’t click that unless you REALLY want to be sucked into famous peoples’ money – it’s addicting!)

What Dr. King was able to do really makes you wonder about your own legacy, doesn’t it? What we will all leave behind in terms of making a positive impact on society? Do we want to be known for being awesome at our money or being awesome at something much farther reaching?

I suspect days like today are set up to inspire and remind us of the power of dreaming big on top of giving thanks to a tireless leader. Did you now there’s actually only two other people in American history that have a national holiday in their honor? George Washington and Christopher Columbus.

And then there’s the “Freedom Budget!”

During my search for answers, I also came across another item you might find fascinating – something called The Freedom Budget that M.L.K approved of. It was put out in 1966 by the A. Philip Randolph Institute, and was a “practical, step-by-step plan for wiping out poverty in America during the next 10 years.” Dr. King believed it would get people closer to financial independence.

freedom budget book

There were 7 areas outlined to achieve this “freedom from want”:

  1. To provide full employment for all who are willing and able to work, including those who need education or training to make them willing and able.
  2. To assure decent and adequate wages to all who work.
  3. To assure a decent living standard to those who cannot or should not work.
  4. To wipe out slum ghettos and provide decent homes for all Americans.
  5. To provide decent medical care and adequate educational opportunities to all Americans, at a cost they can afford.
  6. To purify our air and water and develop our transportation and natural resources on a scale suitable to our growing needs.
  7. To unite sustained full employment with sustained full production and high economic growth.

How would this be done? By “budget[ing] a fraction of the $200 increase [per person] in Federal tax revenues to provide jobs for all who can work and adequate income of other types for those who cannot.”

This was Dr. King’s financial dream for us, but 50 years later we’re still far from it…

[You can read the entire Freedom Budget here (84 pages), or the summary of it here (24 pages). I also happened across an interesting sermon King wrote on how people worship money as if it were a god. You can find that here if you’d like to see (3 pages): The False God of Money]

So, two things to consider as you go about your day today:

  1. Really think about the legacy you’re currently leaving behind (or not leaving behind?)
  2. Make sure you have a will ;) It wouldn’t be a bad idea to use this holiday as a reminder to check up on it every year going forward as well, fwiw.

And that’s Martin Luther King on money! I’ll leave you with one last passage spoken by him just two months before his assassination… It’s amazing how well he lived his mission.

I’d like somebody to mention that day that Martin Luther King Jr. tried to give his life serving others. I’d like for somebody to say that day that Martin Luther King Jr. tried to love somebody.

I want you to say that day that I tried to be right on the war question. I want you to be able to say that day that I did try to feed the hungry. I want you to be able to say that day that I did try in my life to clothe those who were naked. I want you to say on that day that I did try in my life to visit those who were in prison. And I want you to say that I tried to love and serve humanity.

Yes, if you want to say that I was a drum major. Say that I was a drum major for justice. Say that I was a drum major for peace. I was a drum major for righteousness. And all of the other shallow things will not matter. I won’t have any money to leave behind. I won’t have the fine and luxurious things of life to leave behind. But I just want to leave a committed life behind.

Happy Martin Luther King Jr. Day.

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EDITOR’S NOTE: This post was first published on MLK Day in 2015. But I just stumbled across it and was blown away (by him, not my writing! Haha…) and thought it was worth re-publishing again. I hope you find it just as inspiring :)

Via Finance http://www.rssmix.com/

Friday, January 12, 2018

Do Individuals Need Accounting and Tax Preparation Services

Do individuals really need accounting and tax preparation services? Although keeping books as an individual is not a specific law requirement, not doing so could be a disadvantage. Some individuals prefer preparing taxes on their own. But keeping track of all your financial records can be a daunting task. If you’re wondering whether or not …

See More Here: Do Individuals Need Accounting and Tax Preparation Services

from James & Associates, CPAs, Inc. – Feed http://cpamaui.com/accounting-and-tax-preparation/

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Science Has Finally Proven It: Budgets Are Sexy!

sexy money

Taking a break from all the heart pouring lately, and moving on to some financial sexiness today… With special attention on the latter ;)

Check out this clip I was emailed from Sam over at Honeyfi (who you might remember from our FinTech competition and apps review the other month). The truth finally comes out!!

We just conducted a survey of 500 committed couples, and I thought you’d be particularly interested in the results. Among other things, we found that couples who regularly track and discuss a household budget are (i) 50% more likely to report being “extremely happy” in their relationship, and (ii) over 33% more likely to report having a great sex life. In other words, science has finally proven what you’ve known for a long time: budgets truly are sexy.

Thank you, thank you – *takes a bow*. But we can do better, folks. 33% is a great start, but I want to see us at 100% budgeting and having even greater sex!!! And then greater budgeting with greater-er-er sex, all at the same time! Haha… Wait, that doesn’t work…

But it is better than this other stat I recently came across, from Varo Money:

“35% of people say they would rather vomit than make a spreadsheet of their finances”

Come on!! No way that’s true… #FAKENEWS #FAKENEWS #FAKENEWS

The only thing you should be vomiting is all of your expenses to make room for those scrumptious savings! Mmm mmm….. Nothing tastes better than a hearty early retirement cake! And this blog here gots all the fixin’s for it – heyo!!

Okay, I’ll stop haha…. might have had one too many espressos this morning ;)

But true fact: Budgets are sexy. And also, apparently kangaroos…

sexy kangaroo pose

(This was trending on Twitter yesterday, haha… “A surprised tourist was stopped from using a public toilet in a national park near Perth because a kangaroo was striking a pose in the entrance.”)

Here are more random, yet slightly nauseating and entertaining,
financial stats

I’ve been collecting them for quite a while now… Feel free to bring them up at all the Spreadsheet Parties tonight:

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“The average American racked up $998 of post-holiday credit card debt.” (survey)

Ugh… but wait for it…

“…which will take the average respondent 10.28 months to repay (!!!)”

If anything is vomit-worthy, it’s that. Because guess what’s coming around again in another 10.28 months??? Oh that’s right – HELLO HOLIDAYS!!! Thus becoming the never-ending circle of debtness! Ho Ho, NO.

“Over 50% of men and women said they would feel successful if they employed a housekeeper” (study)

I don’t even know how to respond to this one, haha… I mean, yeah – I guess if I had enough money to hire a housekeeper (or chauffeur, door man, professional driver, chef, bat cave, island) I’d feel pretty successful too. But any idiot can pay for that and still be on the brink of bankruptcy. Success how you spend your money. Success = how you SAVE it.

“74% of parents assist their adult children in paying for their living expenses including rent, cellphone bill, utilities and transportation.” (poll)

I’m shaking my head on this one too, but Lord knows I’ll probably be doing the same for my kids when that dreaded age comes along, haha… You always want to help your kids out, but how do you do it so they learn and don’t need you anymore later in life? What’s the best way to teach them?? I’m really asking – these are not rhetorical questions, haha… I don’t want to lose any of my street cred here! ;)

“27% plan to opt out of home ownership in the next 5-10 years, an 8% increase from 2016” (link)

Now that stat I can get down with! Not because I’m against home ownership in any way, but because it means people aren’t as afraid to do what’s in their best interest anymore for themselves! Because spoiler alert – owning a home is not for everyone. In fact, I’d be leery at any stat that was hovering around the 100% mark of what people were doing to be honest… Unless of course it was around budgeting and/or spreadsheet parties ;)

“Doctors make way more than we think. They are perceived to make $125,000/year, however they actually make $200,000/year.”

Nice! Go docs! I guess that’s why y’all are popping up all over the early retirement scene lately, eh? Checkin’ to see that everyone’s treating their money with as much respect as their patients? To make sure they’re all nice and financially healthy? That everyone’s wallets have a pulse? (One more, one more – That they all have emergency funds???? #NailedIt!)

“46% of married Americans die nearly broke, according to a recent study by the National Bureau of Economic Research” (GoBankingRates.com)

Damn. Though I don’t know why “married” had to be included in there? Shouldn’t that make the odds better that you wouldn’t die broke? Still, no bueno. Although, you wouldn’t be that different from many of our founding fathers back in the day… Both Thomas Jefferson and George Washington ended up dying deeply in debt! But at least they enjoyed their lifestyles going out at the end ;)

(I’m actually reading a pretty interesting book on G. Washington right now, and how one of his biggest expenses was entertaining the parade of guests that would stop by his home over his retirement years to pay their respects. Something he had a hard time turning down (also out of respect), but only added to his financial problems. This seemed to be the case for many notable figures in history which is kinda interesting… Do you think you’d be able to turn down all your adoring fans and colleagues?)

“D.C. metro area named worst city for earning six figures & still being broke” (link)

Yup, it’s bonkers out here… $500,000 will literally get you a door if you’re lucky, haha… No less an entire home with your own roof and bathroom! We pay $2,200 for a tiny 1,100 sq ft rambler, and that’s still 30 mins outside of the city… Two hours 30 minutes in rush hour.

“More than half (55%) of Americans think it is acceptable to purchase an engagement ring from a pawn shop.” (Ebates.com)

Hey – traditions gotta start somewhere? :) I’d personally prefer a family heirloom or handmade ring of some nature for anyone out there considering proposing to me anytime soon, however as the financially conscious guy I am, a pawn shop would certainly also do the trick. But only if it doesn’t come with a sad or creepy story as to why it’s there… I’m not about to score a bargain off of someone else’s loss. And I’m damn sure not playing around with any ghosts!

“32.6% have used Venmo to pay for drugs (marijuana, cocaine, adderall, etc.)” (poll)

I thought that was what Bitcoin was for? ;)

“21% of millennial respondents have used Venmo for betting or gambling.”

Oh wait, THAT’S what Bitcoin is for, bah-dum-ching… Although I’ll admit it – for the first time in 5 years I’m actually starting to get a little interested in it. Is that bad? Mainly just for experimental/learning purposes, but not a week goes by when someone doesn’t ask me my thoughts on it. And I’m getting tired of always responding with “I don’t know, go ask Mr. Money Mustache.” Haha…  (Okay, I don’t actually do that, but his recent post I just linked to on it was pretty good…)

I’ll leave you with one more, just in case you were wondering…

pigeon inflation

Happy weekend everyone!

And to save you the look-up: “Homing pigeons can cost anywhere from approximately $50 up to several hundred dollars, depending on the pedigree and breeder. Keep in mind that in addition to the cost of the pigeons, you must also pay the cost of shipping.”

Via Finance http://www.rssmix.com/