Today is the 19th edition of our periodic guest post series called 10 Questions and a Pizza Place. (The 1500′s are pizza fanatics.) We have a list of 17 questions we pose to fellow financial bloggers, and they are free to pick and choose 10 or answer all 17. Let us know if you would like to be featured in a future edition of 10 Questions.
Today’s 10 Questions features Charles from Getting a Rich Life. Charles hails from Hawaii, one of my favorite places on earth. He went from growing up in government housing to investing in real estate in one of the most expensive places on earth. Most impressive.
Tell me about your blog and why it’s great.
I’m a blogger from Hawaii and I blog at Gettingarichlife.com. Despite living in one of the most expensive states in the country I have been able to accumulate an above average net worth. I don’t give frugal or budgeting tips, my blog is about wealth building ideas. I will share with my readers my wealth building journey and hopefully help them make some money.
What is the worst financial mistake you made?
At my first job I had a mini-van as a company vehicle. At the time I was looking to buy a condo, instead I bought a BMW. I went from no car payment to $600+ a month expense. When I moved away I looked up the value of the condo, it had appreciated by $250,000.
What would you do if you inherited $1,000,000 (after taxes) today?
With $1 million dollars I would buy two triplexes in Portland at $150,000 a piece in down payment. I would finance the rest. I would invest $500,000 in stocks and the remaining in intermediate corporate and emerging markets bonds.
What is the best financial move you have made?
Best financial move was marrying someone who has the same aspirations as I do. Another is buying my first property and leveraging it to buy others.
What’s your favorite tip for saving money?
Buy investments and get a good accountant. A great investment will produce income and lower your tax burden. A good accountant will find you ways to save thousands, which is worth more than save a few dollars here and there.
What is your favorite pizza place?
Round Table Pizza in Kailua. Great crust and flavorful.
If you could go back in time and give yourself one piece of advice, what would it be (don’t say ‘buy Microsoft,’ everyone says that)?
Save and invest immediately. Let time work for you and not against you.
What is your favorite movie?
Favorite movie is Forrest Gump
What advice would you give to a 24 year old, just out of college?
Advice to a 24 year old. Invest in yourself and build you career. Work your ass off before life responsibilities get in your way. Don’t get into bad debt. Pay off all the bad debt you have.
What are your favorite personal finance websites?
Thanks Charles! Be sure to check out Getting a Rich Life on Twitter as well!
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