I’m a money Alchemist!

I’m a money Alchemist!

Unicorns, the Lock Ness Monster, Dragons, all are mythical creatures.  They exist in fantasy and the imagination of many, yet at one time their legend was so strong that many would have insisted they were real.  A different kind of fantasy was practiced throughout history, as alchemists attempted to combine various materials and substances in order to create gold.  Unfortunately for the alchemists, none were successful.  Then as today, if you wanted more gold, you needed to go and find it hidden within the earth.  No combination of materials, heat…

What is a dividend? How does it contribute to an IRA?

What is a dividend?  How does it contribute to an IRA?

I’d like to answer two questions I received after writing NO Limit IRA accounts – Here’s How.  In the article, I discussed how I’m using dividends to increase the amount I’m able to contribute annually towards my IRA accounts.  Currently, my wife and I are limited to $11,000 combined, but when dividends are included, I’m currently able to contribute over $14,000.  So, what is a dividend, and how am I using it to increase my contribution limits? A dividend is paid by some companies to anyone who owns shares in…

$1,500 Lost!

$1,500 Lost!

Creating content for Gentleman of Leisure has motivated me to keep better records, evaluate my savings, and monitor my investment progress.  I have recorded my dividend income for the past few years, which has proved to be revealing and motivating, as I’m able to watch these numbers grow each year. My real estate portfolio has been a bit of a financial wild west.  I have a separate bank account for my real estate LLC, and I’ve basically just checked to make sure the account has enough money to pay the…

No Limit IRA accounts – Here’s How

No Limit IRA accounts – Here’s How

Each year the federal government sets limits determining the amount of money that can be contributed to an IRA account, this past year the limit was $5,500.  If you are married, you and your spouse could each have an account raising your family limit to $11,000. This number is still smaller then I would prefer, so I developed a method for contributing more. What? That’s impossible you say, and technically you would be correct. I didn’t open a 3rd account, but I did find a way to raise my contribution…

Marriage and Money

Marriage and Money

Whenever I needed cash, I just wrote myself a check, took it to the bank and cashed it.  I was in my mid 20’s and had never owned a debit card.  I addressed envelops, licked stamps, and wrote checks to pay my bills.  The year was not 1955, but rather 2009. My then girlfriend, now wife thought I was dimwitted. I didn’t own a computer, which is a prerequisite for online banking, thus my hands were tied (I hadn’t considered buying a computer).  I had a system that worked for…

The Power of Small Numbers

The Power of Small Numbers

Earlier tonight, I had a thought while I was in the shower, don’t worry, this thought had nothing to do with soap, or scrubbing. The thought centered on work and income; I was amazed to realize I’ve earned roughly $42,000 coaching soccer.  I have coached soccer for the past 12 years, earning around $2,000 the first year and about $4,500 this past season.  A little mental math gave me the surprisingly large total. Really?  Coaching? I’ve deposited in the bank $42,000 from coaching, amazingly that is about 8,000 more then…

An Opportunity to Fly for Free

An Opportunity to Fly for Free

My wife and I were recently invited to a wedding in Chicago that will necessitate purchasing some airplane tickets. I now have an opportunity to learn first hand about credit card bonus miles, oh, and enjoy the wedding also.  I am looking to fly out of a relatively small regional airport to increase the ease of travel and to eliminate the bumper to bumper drive that Philadelphia or Baltimore requires. At this point it appears 40,000 or so miles would do the trick. Happily, the United Mileage Plus Explorer card…

Free Car Inspection

Free Car Inspection

I don’t condone or recommend what is written, its just something that brought me personal pleasure for a few years. I have been participating in a little project to gain a free years car inspection.  As far as I know, this project is my own idea, how good the idea is, remains debatable.  Here in PA, we must get our vehicle inspected annually which I find annoying and expensive. Nearly every year, I drop off the car, and wait for the phone to ring. “Yes, hello, its Greasy Wrench calling,…

Would you work for 60$ per hour?

Would you work for 60$ per hour?

If you wouldn’t jump at that offer, you must already have a money tree, which has afforded you Gentleman of Leisure status, and a future free from wants and needs. I don’t possess those things and yet I shrugged off this offer for quite some time. The offer I’m talking about is called electric choice.  In Pennsylvania we can choose our electric supplier, and this has created price competition, along with the need to shop for electricity if you want the best rate.  I dislike shopping, so I avoided playing…

Frugality: Cell Phone Madnes

Frugality: Cell Phone Madnes

79$ for one line…67$ with an employee discount…91.17$ for one line…240$ for 3 lines…120$ for 2 lines…500$ for 7 lines…160$ for 2 lines…and so on. This appeared on my Facebook feed recently in response to the following questions. “How much are you spending per month on your cell plans?” To say I was flabbergasted would be an understatement! I would use a tin can with a string before paying those prices. For the important conversations or for those rare occasions when I didn’t have enough string, I would sit down…