If you’re reading this, you’ve stumbled onto one of the fastest growing personal finance blogs on the internet. Welcome!
I apologize, I should introduce myself. I’m the Money Wizard, and I started this site at the age of 25, shortly after I came to the shocking realization that I had managed to save $100,000.
A little over a year later, I reached $150,000 as a 26 year old. Then, $200,000 at 27. You can check out the most up to date number on my net worth page, where I publish updates every single month detailing all the nitty gritty details of my saving and investing.
No inheritances, no windfalls. Just lots of saving, basic investment, and a desk job in the finance industry (which is far less glamorous than it sounds) that places my salary barely above the median household income here in the U.S. of A.
And now my wizardly ways will be shared with you. We will be demystifying the magic behind personal finance. We will be using everything I know from a degree in finance and economics, my current job in the finance sector, and the real life experiences that allowed me to reach a net worthof $100,000 $150,000 $300,000+ faster than you can say, “You’re lying, liar.”
I am not lying, and I promise to show that accumulating wealth is no magic secret.
I am certainly not an investing genius. Nor are there any “get rich quick” schemes on this site. My goal here is to remove the mystique surrounding money… To turn off the fog machine, pull back the curtain, and flip on the lights in the room.
There is an entire industry which thrives on making finances seem complex and complicated. My goal is to share a common sense approach to personal finance. By making money a little less magical, I truly believe anyone can implement my not-so-revolutionary ideas to improve their finances.
Since I’ve started sharing my strategies through this site, I’ve been:
- Interviewed by Forbes.
- Featured on the front page of Business Insider next to Donald Trump.
- Written forover 2 million readers of Grow Magazine.
- Featured next to million dollar Shark Tank entrepreneurs in four different CNBC stories.
- Publishedon the front page of Yahoo.com.
Pretty crazy, and slightly terrifying, for a 20-something just trying to help people with money!
Some FAQs:
How much do you make?
I’ve worked as a banker and financial analyst,earning between $50,000-$80,000.
*Update for 2020: I got promoted.
Where do you live?
I now live in waaay up north in the Twin Cities of Minnesota, but I grew up in Texas and lived in Denver for my first two years out of college.
What’s your goal?
I save over 60% of mytake home pay and am shooting for at least a $750,000 portfolio.
My goal is early retirement by age 37. Plan B is to keep working untilI’m 40 (the horror!) and plan C is to retire a decade sooner than the “normal” retirement age, at around 50.
So far I’m ahead of schedule on my age 37 goal.
- Related Reading: My new life plan to “retire” at 35 and still hit $4 million in net worth
Do you live like a hobo?
Most people assume I must live like a hobo, but I actually rent a pretty nice downtown apartment that is probably way too big for me and the girlfriend.
- Related Reading:You Don’t Have to be Homeless to Retire Early
I think home ownership is mostly overrated,and the decision to rent has saved me a ton of money. But I might buy a house one day. *Update Fall 2017: I sort of bought a house.
What’s your investment strategy?
I agree with Warren Buffett, who believes index funds are the best investment strategy for pretty much everyone. Check out my recommendations page forother, well… recommendations.
- Related Reading:Should You Trade Individual Stocks?
- Related Reading: 3 Fund Portfolio: The Lazy Investing Strategy that Crushes the Pros
My investment strategy is best summed up as:
- Max out my work’s traditional 401K
- Max out my Roth IRA
- Invest any leftover into Vanguard’s Total Stock Market Index Fund.
- Related Reading:The Easy 401K Strategy to Kill Your Tax Bill and Retire a Multi-Millionaire
- Related Reading:How to Choose a Vanguard Index Fund
*Update 2018: After just 5 years of this strategy, I might be set for life. So, I’m weighing my options.
You know you won’t be able to touch those retirement accounts until you’re old and gray, right?
Not entirely true. I could access my 401K and IRA before age 59.5 through what’s called a Roth IRA conversion ladder. I’d live off the taxable brokerage accounts while I wait the IRS required 5 years.
Do you have a life?
I am an avid skier in the winter and leisurely bicycler in the summer. I enjoy a good beer, a tasty meal, and traveling the country. You can see amateur iPhone photography of those adventures in the monthly Net Worth Updates.
Are you done talking about yourself yet?
Thankfully, yes. So let’s talk about you.
If you made it this far down the page, you must be intrigued. Maybe you’re wondering how you too can start savings tons of cash, invest like a pro, and ultimately, reach financial freedom decades before what’s commonly considered possible?
Well, then you should check out The Best of MyMoneyWizard.com already! It’s a neatly organized collection of my most popular posts, so you can go from Money Muggle to Money Wizard in one page.
And if you want to follow along the journey, sign up for the once-a-weekish newsletter. You’ll get all new posts delivered right to your inbox, an ebook, and maybe even some spreadsheets and giveaways.
See you around!
