Millionaire Librarian
A Middle Class Path to Early Retirement
Category: Uncategorized
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There are several mental models of money that help us understand concepts that might not be immediately apparent. One popular and particularly insightful model is the “money snowball.” When you first build a snowball, you pack the snow with your hands. It is cold, uncomfortable, and you are doing the majority of the work. However,…
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Personal finance is simple: it is income minus expenses, then investing the difference. You can either grow your income or minimize your expenses; honestly, it is best to do a little of both. The librarian profession isn’t the highest-paying career. We generally earn a similar amount to, or a little less than, teachers—despite requiring a…
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I recently came across a scenario on social media that shocked me because of the sheer amount of bad information being shared regarding retirement and children. The individual in question had $1.5 million in invested assets and annual expenses between $50,000 and $60,000. They owned a $350,000 home with a $300,000 mortgage, but they were…
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I invested roughly 50% of my income for about 15 years, and during that time, I actually welcomed recessions. Working a stable government job provided a sense of security; when the stock market fell, I saw it as an opportunity to buy stocks “on sale.” I vividly remember the sharp COVID-19 downturn, during which I…
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We just returned from 10 days in the Galapagos and a full 20 days with my in-laws, who first visited us in Cuenca and then went with us to the islands. Traveling was fun but exhausting. We had to spend two days traveling to and from the Galapagos; we had to fly from Guayaquil, and…
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Family makeup: Two near 40 year olds with a three year old toddler. We moved to Ecuador around 6 months ago. We recently moved into a new house. This covers our day to day living. Larger one time expenses have been removed like purchasing beds and other large household goods. Expenses: Food and Many Household…
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Something common among older generations is that they take little risk with their portfolios. Many people prefer the safety of CDs because they have worked hard for their money and do not want to risk it on investments that can drop dramatically. The problem with “safe” investments is that they lose money annually to inflation,…
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Every week we take two trips to the local mercado, or market, to buy fruits and vegetables. If we go early in the morning, we usually get breakfast there consisting of slow-roasted pig, or hornado, which costs around $3 a plate. After that, we get a pound of strawberries, a pound of cherries, a giant…
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My wife and I get a lot of questions about the residency process in Ecuador and how we chose this country. When choosing a country to move to, you need to research which countries will take you. Are you a digital nomad, or do you have a needed skillset? That may qualify you for one…
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We have a visit to the states planned next December mainly for my nephew’s wedding. However, today my wife asked if with all the political turmoil if we still wanted to return and she asked what would have to happen to not return? I know that most of the political violence in the US is…
Millionaire Librarian 