Live 4 Financial Freedom

Pensions aren’t as common as they were back when my Dad was working at International Harvester. They made Farm Equipment there in Rock Island, IL. They had a Union there which my Dad was a Shop Steward for the Union. They also had a Pension and Health Care for life for Mom and Dad. Pretty good deal. I am going by what he told me I never read all the details of it.

In todays world it seems like fewer and fewer companies offer a Pension plan. Companies that don’t have Pension plans normally have a 401K plan, even most small companies offer one. We teach our boys that if their company offers a pension, they need to find a way to work there long enough to qualify for it. Of course, if they just started there and it is a dead-end job then maybe it isn’t worth for them sticking it out. If the business would go out of business then that is out of their control also.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

Darlene already has a lot of years in with her current company towards her Pension plan with them. It would be good for her to stick with them till she qualifies for the Pension. She is able to even work just 20 to 30 hours a week average and still get credit towards the Pension.

Her Pension contract is a revised contract from earlier years so it isn’t as good but it could still help us out at retirement time. We project it could be around $6,000 per year income for life. Possibly starting for her at age 65.

A lot of the guys I golfed with are retired from Pension plans also but they are in their 70’s and 80’s. I have worked for several different companies over my career and none of them offered a Pension plan. So, I am glad Darlene is able to at least get a Pension at her job.

Darlene also has money invested in her 401K plan to help supplement the Pension money. Plus, we have other investments and Passive Income Streams. For more details listen to the whole Podcast.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Many people I have talked to said one of the things they worry about is running out of money during their retirement years. I have those worries also myself. The more studies that I read about and people I talk to that withdrew 4% of their retirement funds and it worked out for them gives me a calming feeling.

No one has that magical crystal ball to know what the future may bring us. Especially with our Health. We could get sick and run up a ton of medical bills. One lady I know was put in a Nursing Home and she needed a lot of Medical attention. Before she passed a way, they spent over $1,000,000 of their own money on her care. So, it can go fast as times if we get sick in our older years.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

Darlene is good for me because she doesn’t worry about hardly anything. She is not worried about us running out of money in our Retirement years. She said we will be fine no matter what. I am a numbers person and want to put percentages in our favor. I don’t want to run out of money in our Retirement years.

For me to feel really comfortable I would want to be at a 3% withdraw rate at retirement time. I have friends that have taken out 3% and some up to 7% and they are still doing fine. It for sure depends on each person’s situations.

We printed off studies from different people to show our boys the chance of their money lasting at different withdraw rates. Of course, it depends if they have the money invested in Stocks, Bonds or sitting in cash. Plus, what mixture they have from 100 Stocks or 50% Stocks and 50% Bonds, etc.

My perfect world would be to never do a withdraw from our Retirement funds and just live off our Dividend Stocks and other forms of Passive income. But not every one has multiple forms of Passive Income. Listen to the whole Podcast show for all the details.

. If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Who are people trying to impress with expensive Apple Cell Phones and having Cable TV with all the Streaming Channels? If people are in debt or not even half ways towards their Financial Freedom goals, do they need these two items? What lessons are they teaching their kids if they have kids?

We made this a rule for our kids to help them reach their Financial Freedom goals and not get sucked into society making it seem like you need these items to look successful. Being successful isn’t being broke, living paycheck to paycheck or living with debt.

Success can be many things to many people but in the terms of reaching Financial Freedom having debt or living paycheck to paycheck isn’t success. It is opportunity to change, to take action towards your goals.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

We showed our boys what some others have paid for Cable TV, Cell Phones and Cell Phone Service. We ask them is it worth the extra cost versus living in a debt free house and possibly retiring early?

Cable TV - Listen to the whole Podcast Episode for all the details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

We teach our boys that if they don’t take care of their health now, they could be paying for it in the future. Choices and Consequences from their actions now. It can affect their Financial Freedom plans they may have.

Registerednursing.org said over age 65 cumulative health spending in United States in 2016 dollars is $169,740 or lifetime spending under different growth rates in 2016 in 2016 dollars is $414,328. Think with inflation and depending on the boys ages what it could run them by the time they want to retire. We feel they should take action now to try to reduce their possible costs.

As always, I am not giving you any Medical or Financial Advice and you should seek advice from your Medical Doctor or Professional Advisors to see what is best for your situation before starting any exercise program. See my Disclaimer at MillsWay.com. This is for entertainment only.

We aren’t any medical doctors but we believe and teach our boys to work on creating Healthier habits in their life from things like their Diet, Fitness and things to avoid. We aren’t perfect by our examples but we are trying every day to be better examples for our boys. Seth has been our star eater lately. Logan is another story, maybe the Navy will get his eating habits better. LOL

Remember again to see your Medical Doctor before changing any of your eating habits to starting any fitness programs. Let’s dive into these three areas and start with a Healthy Diet and what we feel could help our boys with and others; Listen the whole Podcast for all the details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Sources and Resources from Podcast (Available in Show Notes)

1. Medical Care Costs at https://www.registerednursing.org/healthcare-costs-by-age/

We get phone calls, emails and texts daily at our house of people trying to get our information or to scam us. Everything from someone in England that died and left us 8.5 million dollars to call this number right away or the IRS will be taking you to court.

It has gotten worse since the Internet I feel. Now there is so much information that people can find out about other people on Social Media accounts and other websites.

Even with Credit Cards you can get scammed. In our town people have hooked up Skimmers on Gas Pump’s Credit Card Machine. I have heard of Scanners that someone can walk by you can scan your card. This is why I have my Cards in Protective Cases to try to help block that from happening.

We have a friend of ours that was shopping on the East Coast at a name brand store and the person who waited on her took her information from her ID and Credit Card and then went and took out other Credit Cards in her name. They eventually caught the lady who did it but our friend had to fly out to the East coast for the court case and testify. She lost not only time from her life, stress of the whole deal but also traveling costs.

It can be a nightmare for anyone who gets scammed. I know every time someone has used our credit card number fraudulent it bugs me a ton. We want our boys to be safe as they can in the future.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

With our Credit Cards our companies we have accounts with have been really good for investigating fraudulent charges. I once had someone send me a Money Order for a purchase, it seemed fake so I took it to our bank and they said it was. They took down the information and then did the investigation. We never lost any money any time so far that we have been scammed. Listen to the whole Podcast show for all the details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Sources and Resources from Podcast (Available in Show Notes)

1. Common Scams Information at https://www.usa.gov/common-scams-frauds

Darlene and myself have many different checking accounts from Personal Accounts to Business Accounts. We teach our boys to have separate personal checking accounts if they are married or in a relationship. Also, we suggest they set up one checking account for each of the following; Home Bills, Debt Payments, investing to other accounts if needed.

Darlene and myself don’t need a Debt Payment account since we are debt free but a lot of people may need it. We also don’t need the other ones because our system works for us. A lot of people need those extra accounts to make sure they keep on track.

Some people even set up accounts for large upcoming expenses. For instance, a Wedding Checking Account. Where they each put money into the account for the wedding and then either one can write checks from that account to pay for wedding expenses. Once the money is gone, they are done spending. Hopefully they have been agreeing on what to buy and how much to spend. If not, they could have some pre-marriage fights. LOL

Darlene and myself have known other people that have separate personal checking accounts and one Home Expense account that each person puts money into the account each month. The people we know has been doing if for many, many years and are happy with it.

Other people we have told that we have separate checking accounts think it is wrong and seem offended by us doing it that way. I am sorry they get upset but it works for us and we believe in it. That is why we teach out boys to do the same.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

With having separate personal checking accounts, we each can spend our own money and not worry about getting it approved or feeling guilty buying something. For instance, if Darlene wants to buy a new golf club for $99, she can do it and not feel guilty about it or ask me for the money. She has the money in her account and can spend it on what she wants. Listen to Podcast for more Details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Whether you are married, in a committed relationship to being single we teach our boys to agree with their significant other or if single than a friend or relative before a large purchase.

This is really important if you are married or in a committed relationship and living together with plans to get married someday. You need to be able to both agree on large purchases and I you don’t then keep talking it out till you both agree. Communication is so important in any relationship and not always easy to do.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

Why you may ask, it is because if you don’t discuss it with your spouse or others than it could create a lot of frictions or future fights in your relationship.

Being single basically you only have to be accountable to yourself for your own finances of course but it is still good to talk it out with another person.

Sometimes we get caught up with emotions when wanting to buy stuff or someone talks us into it. But if we would talk out every large purchase maybe we would decide that we didn’t need it.

Maybe we realize when talking with someone else that it is a want and not a need. Maybe we would realize we would be better off not buying it and investing that money towards our Financial Freedom. Listen to the whole Podcast for all the details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

Communication is so important in any relationship. When we have our monthly review meetings with our Spouse or significant other one it can be a stressful time when money is involved. Seems hard for some couples to be able to openly discuss money and finances.

That is why I suggest to people if they have problems communicating with their spouse then maybe have a third person at their monthly and yearly review meetings.

It is so important that both people in the relationship are on the same page when it comes to finances and working towards Financial Freedom.

I am sure you can tell early on by their tone of voice or lack or talking to what mood they are in when you are reviewing your numbers. Not all communication is speech though. A look or a certain way they hold their body can communicate volumes also.

Communication is the key to our existence, and this higher ability to communicate is what separates us from other animals in the world. While other animals have rudimentary communication skills, our skills are evolved to the point in which there are many different languages spoken, written, seen, and drawn. Not all communication is speech or writing. Listen to the whole Podcast for all the details.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway #communication #relationships

This is something I look forward to do each month and at the end of the year. I know I may sound weird but I like to work with numbers and analyze how we did for the month or year.

Darlene and myself have recaps of years past and then I have my recaps back from in the 1980’s. Yes, I am an old timer to some. LOL It is fun to look back at how low the numbers were on our Profit and Loss recaps back in the 1980’s and 1990’s.

We do Profit and Loss recaps each month and each year. I will call them P&L’s for the rest of the show to save me some typing. LOL

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

We do P&L’s for our Personal Income and Expenses each month and also for our Business ventures each month. For us it is our Monthly and Yearly report card on how we are doing. If we are winning or losing. Also, where we need to improve.

We compare a lot of different categories each month and year along with our P&L forms like how each of our Investments are doing and our total Net Worth.

Back years ago, when we had that nasty thing called “Debt” I used to do monthly and yearly recaps on that also. Thank goodness we haven’t had that for along time and plan on never being in debt again.

Each month the totals can range widely depending on when a big bill comes in. So, we list the big bills that are due at the top of each column on the recap to remind us. For more details listen to the whole Podcast show.

If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway

To know if you are winning or losing you need to keep score. Just like in golf. You need to count all your strokes to know what your score was for the round and if you hit your goal or not. Also, you can see what areas that you need to improve in your golf game. Like I track not only my score per hole, but also how many fairways I hit, how many greens I hit and how many putts I made during the round also.

That is why Darlene and myself track all of our Expenses and Income daily. We need to be able to see if we are winning or losing against our budget and goals towards Financial Freedom.

As always, I am not giving you any Financial Advice and you should seek advice from your Professional Advisors to see what is best for your situation. See my Disclaimer at MillsWay.com. This is for entertainment only.

We track expenses maybe old school for some people but for us it adds something to the power of tracking by writing it down on our forms we have made up daily. When we write it and see it then helps us control our spending the rest of the month.

Our monthly expense forms that we write our expenses down on is pretty basic and we make subcategories in some of the columns. Some of the main columns are; Listen to the whole Podcast Episode for all the details.

. If you would like to be a guest on my Podcast drop me an email at [email protected] or Text me at 480-389-6224

Support me at Anchor.fm/Live4, Patreon.com/Millsway or Paypal.me/Millsway

Thanks, and Have a great night.  Please Support or Follow me at https://www.patreon.com/millsway  for access to all my blogs.

Click here for some Side Income and Part-time Business Ideas

Millsway.com and Live4.Club

Personal Capital - Manage your money now. Smart way to track and manage your financial life. Award-winning financial tools and more.

#financial freedom #financial independence #FIRE #Hustle #Live4 #podcast #millsway