Our Simple Financial Management Plan

Einstein said there are five ascending levels of intellect:

  • Smart
  • Intelligent
  • Brilliant
  • genius
  • and simple.

Our Simple Financial Management Plan--www.thethreeyearexperiment.com

So many times, we think that complicated strategies are inherently better. But have you seen Einstein’s theory of general relativity? The one where he challenges all conventional notions of matter moving in space and time? That puppy is simple. Continue reading “Our Simple Financial Management Plan”

The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part II

Does getting out of debt, saving more, or building net worth seem hopeless? Fear not. You can make lots of mistakes, start late, and still create financial independence.

boy swimming never give up--www.thethreeyearexperiment.com
Never give up!

Part I of this post details the beginning of Mr. ThreeYear’s and my financial story. Continue reading “The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part II”

The i401K: Your Best Friend as An Independent Contractor

The i401k (also known as the Individual 401K or Solo 401K) is the 401K plan for Independent Contractors. Just as a traditional 401K offers myriad benefits for employees like tax deferred retirement savings and the benefit of lowering your tax bill, the i401K plan was set up to offer the same benefits for independent contractors.

desk area--www.thethreeyearexperiment.com
Where the independent contractory-stuff happens

Tax Savings for Independent Contractors

Since I’m an independent contractor, the i401K allows me to contribute up to $54,000* a year, tax free, for retirement. Continue reading “The i401K: Your Best Friend as An Independent Contractor”