Personal Finance Club was created to help individuals with their financial education.
What we believe.
- Financial education improves lives.
- Financial education should be taught in schools.
- Live below your means.
- Invest early and often.
- Avoid debt.
- Buy and hold.
- Invest in index funds.
- Minimize fees.
- Be cautious of misaligned incentives.
- Don’t mix investing and insurance.
- Simple is better than complex.
- Do the right thing.
Who started this?
How did I do that?
I spent my entire working career from the age of 22 to 34 starting and growing a small internet startup called RentLinx. During that time I was always the lowest paid employee and never took home more than $36,000 per year. On that salary, at the age of 34 I had grown my net worth (not counting the value of the business) to over $100,000. Not retirement territory of course, but not bad on $36K/year living in San Diego and well on my way to millionaire status by (traditional) retirement age.
OK, then what?
Well, then I sold my company for enough to retire on (if I live frugally at least). I spent the next two years working for the company that bought my company, then parted on very good terms. I’ll probably start another company soon, but in the year after I quit my job I spent two months in Italy coaching beach volleyball, two months in Australia backpacking around and spent most my time learning what to do with all this money.
So what’s the deal with this site?
Since I had my windfall I’ve spent the last few years reading investing books, articles, studies, podcasts and anything else I could find. Throughout all of these great resources the same themes have emerged over and over. It turns out that investing well is pretty easy, but not simple because there’s a multi-billion dollar industry that exists based on people making bad investment decisions. So this site is here to give an unbiased, simple information on how to win with money and become a multi-millionaire! This site doesn’t make money and has nothing to sell.
Below is a partial list of some of the resources I’ve used to build this site. I don’t believe in everything from every source below, but the themes among them ring true. Here they are, along with a one sentence recap of each.
- The Little Book of Common Sense Investing – Buy and hold index funds
- Bogleheads Investment Philosophy – Buy and hold index funds
- The Millionaire Next Door – Live below your means
- Rich Dad Poor Dad – Don’t be a slave to your job that makes someone else rich
- A Beginner’s Guide to Investing – Invest early and often, don’t try to beat the market
- Dave Ramsey – Get and stay out of debt
- The Personal Finance subreddit – Pragmatic spending and investing tips
- The fi/re movement – Live way below your means, invest like crazy, retire early
- The Trinity Study – You can withdrawal 4% of your net worth annually and never go broke
- I Will Teach You To Be Rich – Game the banks
- The Essays of Warren Buffet – Ignore the hype and volatility of the stock market