The First Post – Hello World
Welcome to Finance for the Family!
My name is Jake. I’m in my early 40’s and live in a suburb located in the Northeast part of the United States with my wife and four children ages 9, 7, 3, and 1. My wife and I both have steady, high-income jobs in the healthcare field. Mrs. Financeforthefamily is a practicing physician and I am a pharmacist working in the corporate setting.
As a family, we’ve accomplished many financial goals. Although we have a mortgage on our primary home, we have the ability to pay it off right now. We keep it because the interest rate is so low. We’ve also set aside a significant amount for our children’s education, developed a legacy giving plan, and have tripled our net worth over the past 6 years.
I’ve been an avid reader of personal finance blogs for years. I’ve been inspired by many of them including ESI Money, White Coat Investor, Making Sense of Sense, Financial Samurai, Budgets Are Sexy, & Mr. Money Mustache.
I started this blog to document our progress and hope to get help from the community. Here are some other reasons:
Reason 1: To help other large families
My observations of most personal finance blogs are that some are geared towards extreme frugality. Other blogs are geared towards certain professions. Other blogs are for 20 somethings, others are for DINKs (dual-income no kids), others have a focus on debt. We are a couple in our 40’s with steady jobs and 4 children. Our only debt is our mortgage. We have no desire to live in an RV or live a minimalist lifestyle, not that there’s anything wrong with that. We just don’t envision our lives that way so we thought our blog can fill a gap in helping families improve their financial health.
Reason 2: To help myself
I know a little about personal finance, but there’s so much more to learn! I’m hoping this blog will open up conversations on different approaches to personal finance. I’m also hoping that this blog will someday generate some income…at least enough for a nice steak dinner, but hopefully enough to retire on!
Reason 3: To help my family
I want to raise financially savvy children (in addition to other goals). I’m hoping that as my children grow, I can teach them how to think about money so that they don’t make the same mistakes I made. I’m also hoping that they grow an interest in personal finance and may want to write a blog post or two.
This blog is for you if:
- You’re married and have a large family
- You plan to pay for your child’s education
- You want to teach your kids to be financially savvy
- You want to partner with your spouse to manage finances
- You don’t have a huge debt burden
- You have relatively high incomes
- Are you looking for investment alternatives over and above passive, low-cost, index investing
- You want to build multiple streams of income
- You’re interested in real-estate crowdfunding, angel investing, and peer to peer lending
- You’re interested in tax minimization or tax avoidance strategies
- You’re intersted in entrepreneurship
- You want to build your career
- You want to create a family legacy of giving
Join our journey
If you like what you see, please subscribe below so you don’t miss any posts! I’m hoping to publish twice a week. I’ll be posting most of the content, but Mrs. Financeforthefamily may post content as well.