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10 Questions with Make Smarter Decisions

November 19, 2016 by Mr. 1500 Days 8 Comments

This is the 70th edition of our guest post series called 10 Questions. It also will be one of the last. Everything must come to an end and 10 Questions will say ‘”Good bye!” at the end of 2016. If you’ve already sent me your answers or told me that you’re going to be doing so, don’t worry; I’m still going to publish you.

This week is something a little different. Still money-ish but today’s featured blog is about the science behind making smarter decisions, how to analyze a problem to come up with the best solution. Making smarter decisions isn’t just learning from your mistakes – it’s creating a better decision making process to avoid some of those mistakes.

MSD also offers Decision Coaching for those large life decisions that can really change your life.

Without further ado, here is MSD!

Make Smarter Decisions

What post are you most proud of and why?
The post that has been shared more than any other on my site is about coffee! It was really fun to write and it was the first time I focused on entertainment and adding in some “education” and not the reverse.

My most commented on post is a reflection on some of my teenage decisions that helped shape my life.

Many of my other posts are pretty educational and focused on specific decision-making topics including real estate, rental properties, careers, employment, and education.

Do you enjoy writing?
I took a long time off of writing almost anything after my dissertation. It’s basically paying tuition to write a book that you then have to defend to others. I love being able to write in a more conversational tone and through stories on the blog though! And that’s what I enjoy about reading other PF blogs like yours too. Finally, no APA formatting…

1500 Days is about early retirement. Do you have early retirement dreams? At what age do you think you will retire?
The crazy thing is that my brother got me started reading FI/ER blogs years ago, but I never really realized where I was in the process. As a teacher, the norm was to just keep going to school until you reached the magical retirement age. Last year, my brother finally convinced me that we were “there” and in June I turned down my full-time job to “downshift” into an early retirement at the age of 49. So I didn’t really dream – I just kind of woke up I guess!

When you are 90 and look back on your life, what do you hope you have accomplished?
I have lived a wonderful life so far and I never take that for granted. I hope that I can focus on giving back more in retirement. At 90 – I hope I will still be positively affecting the lives of as many people as I can, in as many ways as I can.

How do you handle people with different views on money, ie spendy people?
I try not to judge other people for the decisions they make and I never really talk much about money, financial independence, or politics. If someone asks, I will share my philosophy and tell them a few key phrases to search to learn more. I think most people think it is some kind of “scheme” though. We definitely spend more time (and laughs) with friends who share our beliefs about spending.

Did your parents teach you about money as a kid? How so?
My parents definitely taught us about money – and more importantly, showed us the work ethic that it takes to be successful. They worked blue-collar jobs and managed five apartment houses while we grew up. We had everything we needed and some of the things we wanted. Just not everything. And that was the most important lesson of all.

What is your favorite style of beer – and what is your favorite beer in that style?
Is the lightest color draft beer available a style? But I do go for the new “fruit” beers too. It makes it feel a little healthier you know. And anything with a fun name like – Frog Hollow Pale Ale or my husband’s favorite – Naked Dove Berry Naked Beer.

What do you do for exercise?
My husband and I walk a lot now and kayak too. I have also run two marathons in the last ten years (Chicago and the Marine Corps) and I swam year round through college. I even coached high school swimming with Olympic swimmer Ryan Lochte’s mom when he was little!

So what the hell is the 4% rule and SWR and why are they are all these PF blogs so focused on that?
When I first started reading PF blogs I spent a lot of time just learning. All of the acronyms and rules felt like some kind of advanced math class (and I was good at math!) One thing that was very confusing was the lack of discussion of pensions. I will get a pension in five years and my husband gets one now. The 4% rule and safe withdrawal rates take on a whole new meaning with a pension! I just wish I understood that sooner!

Thank you so much for speaking with us today. Keep up with MSD on her blog or on Twitter.

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Filed Under: 10 Questions Tagged With: 10 Questions, Make Smarter Decisions, retire early

Reader Interactions

Comments

  1. Mrs. BITA says

    November 19, 2016 at 8:55 am

    It was nice to get to know you a little better. How nice to ‘wake up’ to financial independence one day. And your pension, like every pension I have ever met, makes me all kinds of shades of green.

    Reply
  2. Vicki says

    November 19, 2016 at 10:07 am

    Thanks Mrs. BITA 🙂 We knew we were doing well – but the mindset is the “golden handcuffs” of waiting til 55 for sure. If we had to follow the 4% rule – we’d be working a LONG time!

    Reply
  3. Jon @ Be Net Worthy says

    November 20, 2016 at 8:23 am

    Great interview Vicki! And as Mrs. BITA mentioned above, it must’ve been nice to all of the sudden realize that, “Hey, I can retire now!” No long, drawn-out, anticipation!
    Jon @ Be Net Worthy recently posted…Buying a Small Business: ClosingMy Profile

    Reply
    • Vicki says

      November 24, 2016 at 7:10 pm

      That’s true Jon! The pension and adding it in to the net worth calculations makes it somewhat confusing. Add a couple of kids and college in to the mix and it can make you doubt a lot! 😉

      Reply
  4. Mustard Seed Money says

    November 20, 2016 at 5:46 pm

    What an awesome feeling knowing that you woke up and were financially independent. That must have been one aha moment. Thanks for sharing and I look forward to reading some more of your articles.
    Mustard Seed Money recently posted…Can You Save Money on a Low Income?My Profile

    Reply
    • Vicki says

      November 24, 2016 at 7:12 pm

      I think my brother would say it was much longer than a “moment” for sure! He coached me along the way – and even with years of reading PF blogs, I had doubts (and there are days I still do!) But they are much fewer and farther in between now!

      Reply
  5. Bill @ Wealth Well Done says

    November 24, 2016 at 6:22 pm

    Cool Vickie. I knew your blog name was @makesmarterdecisions, but I just thought it was another personal finance blog. I didn’t know you are sort of a niche in the PI world, where you focus on examining, understanding, and teaching us about the decisions we are making. It’s cool, because decisions are ultimately what leads us to the life we want. I am trying to create my own niche for Wealth Well Done. At WealthWD we’re pursuing purpose and spiritual wealth; and monetary wealth and a fun life just happens to come as a by product of pursuing what we’re really after: a life of simplicity and purpose. Thanks for informing me more about your blog. I’ll be stopping by soon.

    Reply
    • Vicki says

      November 24, 2016 at 7:15 pm

      Sure thing Bill! Many of our decisions tie back to money – buying real estate, changing jobs, choosing a college, even medical decisions. So I’m “rooted” in the PF world even though I have a somewhat different track than many. And because of our pensions, our net worth and investments don’t “look” all that impressive at all. Love your focus – simplicity and purpose – makes so much sense!

      Reply

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Freedom!

My goal was to build a portfolio of $1,000,000 by February of 2017; 1500 days from the birth of this blog (January 1, 2013). And hey look, I’ve since retired!

Investments only (primary home excluded)
1/1/13 (The Start): $586,043
1/1/14 (1 Yr Later): $869,635
1/1/15 (2 Yrs Later): $987,351
1/1/16 (3 Yrs Later): $1,057,961
1/1/17 (4 Yrs Later): $1,257,128
1/1/18 (5 Yrs Later): $1,527,701
1/1/19 (6 Yrs Later): $1,549,440
1/1/20 (7 Yrs Later): $2,035,040*
1/1/21 (8 Yrs Later): $3,379,746**
1/1/22 (9 Yrs Later): $4,762,642
1/1/23 (10 Yrs Later): $3,112,821

2023: Investments only
1/1: $3,112,821

Overall
2023 investment gains: $0
Investment gains since 1/1/2013: $2,526,778
Net worth***: $3,342,821

* The big jump between 2019 and 2020 was partly because we bought another home, but kept the previous (much more expensive) one as a rental. We have since sold it.

** Tesla.

*** Includes our primary home equity in addition to our investment portfolio.

Finally, we still have about $290,000 in mortgage debt (which I love!). No regrets about the debts!

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