Adkins Financial | Wealth Building

Financial Planner. Blogger. Money Enthusiast. Vegan.

[Adkins Financial | Wealth Building @AdkinsFinancial]

Are your personal finances a mess? Here’s where you start. https://t.co/Ut4bWb00R9

[Adkins Financial | Wealth Building @AdkinsFinancial]

Also, the net worth you build by owning a house is useless unless you want to go into debt or sell your house.

[Adkins Financial | Wealth Building @AdkinsFinancial]

"Stop wasting money, build equity!" is the biggest lie in personal finance. Renting is roughly a break-even when you run out all of the math. Repairs, closing costs, insurance, taxes, interest, upgrades, utilities, ... It adds up.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@ipickuppennies @Done_by_Forty 30k a year is double minimum wage. How many made $15k or less while working 40 hours per week at 1 job? Not many.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@FirePlains I wouldn't do it solely as an investment, though. It's been my life goal to own a restaurant since I was 15.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@FirePlains When you sleep doesn't really matter as much as how long. Just don't oversleep and you still get the same 16 hours of productivity.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@carreirafi Also, dividends are not interest. Separate concepts.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@carreirafi It just doesn’t work mathematically, either. Not that I’m opposed to monthly investing out of cash flow, but it doesn’t beat lump sum investing. It’s just an odd concept that occurs naturally and people act like it’s some genius scheme.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@carreirafi Stocks do not pay interest, they grow in value. Any "compounding" growth is arbitrary.

DCA is just mentally exhausting and doesn't net a larger return. If you have money to invest, invest it. Time in the market beats timing the market.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@carreirafi I'd argue that neither is important. Interest-bearing accounts are horrible wealth builders, rarely keeping up with inflation and dollar-cost averaging is just nonsense. Lump-sum investing beats DCA over time, every time.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@ContrarianSaver That's only $3.20 each. I'd say the average is between $2.75 and $3, so not too bad.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@moneylifewax 2, but 1 is a person I work with and don't actually know her name. So... define know.

[Adkins Financial | Wealth Building @AdkinsFinancial]

“So, I did a thing,” is millennial for, “I bought something a can’t afford.”

[Adkins Financial | Wealth Building @AdkinsFinancial]

@ContrarianSaver Okay. What's it about then? As an employer, I actually prefer an applicant that got the same degree for less money. It shows they understand the basic concept of ROI.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@AndyFrisella 75 Hard question, does the 45-minute outdoor workout have to be consecutive? Like, my Aldi is a perfect 23-minute walk from my house, can I walk there, shop, and carry my groceries back home?

[Adkins Financial | Wealth Building @AdkinsFinancial]

@thewealthdad People that care about hairlines need more important things to care about.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@PlanOnfire @twindadmoney $6,000 on all sinking funds. Not just cars. $200 per month for a family cellular plan and internet for the house is reasonable. $1,000 would be for a whole family. This is based on household expenses, not individual.

[Adkins Financial | Wealth Building @AdkinsFinancial]

@twindadmoney We have very different definitions of major success. 30 years of no fun and no raises sounds pretty miserable.