David Barber and Lindsey Harrison Barber are financially independent but have no plans to retire early. Lindsey Harrison Barber
Lindsey and David Barber save 75 to 80 percent of their income for retirement and their son’s future.
Even though they have enough to retire early, the millennial couple wants to continue working.
They said they worked too many long days to simply sell their companies and retire.
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.
Lindsey Harrison Barber, 34, and her husband David Barber, 35, are financially independent. You have enough money to retire early. But none of them have any intention of slowing down.
Lindsey is the owner of a marketing agency and David is the owner of an insurance agency. Together they generate eight-figure sales. They set aside a six-figure sum each year for retirement and their son. They save about 75 to 80 percent of their income, according to financial documents obtained by Business Insider.
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No retirement, but lots of flexibility and freedom
Although they have the means to retire and travel, both say retirement would be at odds with everything they have worked toward for the past decade. “We’re very conscious of the flexibility that we have and so there’s really no reason for us to retire because we can enjoy the life that we created through the hard work that we did ten, 15 years ago invested, created,” said Lindsey.
They make time for a personal trainer, eat lunch together and spend time with their son between work hours. You’re not working toward a bigger house. Instead, they say they see little reason to rush into the next big thing if they’re happy with what they have.
“I almost feel like we live like we’re retired to a certain extent because we have the flexibility and the freedom, but at the end of the day we’re not; we’re still working,” Lindsey said.
Many Americans are working toward becoming financially independent. This is often defined as the point at which you have enough money to cover all living expenses without having to go back to work. Some are part of the FIRE movement — stands for “financial independence, retire early” or “financial independence, early retirement”. Others are refraining from early retirement, whether to continue building generational wealth or to move into a less stressful role that still gives them something to do.
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Growing agencies and wealth
David grew up lower middle class. His father was a manager at a retail store and his mother stayed home to care for the children. The family moved to North Carolina, Texas, Kentucky and Ohio because of his father’s work. His father eventually moved into the insurance industry and raised his children with the philosophy of thrift.
David says he has been working since he was 16, starting at a grocery store working 25 to 30 hours a week during high school. During his studies, he acquired his insurance driver’s license so that he could work part-time. He financed his studies with a small contribution from his parents and is debt-free.
Lindsey, who grew up middle class, said her mother, who worked for a nonprofit for drug addicts, was her role model for working hard and making a difference. Her father traveled a lot for work and eventually opened a lawn mowing business on the side.
During her studies she completed internships in marketing and PR agencies. Immediately after graduating, she got a job in communications. She used her contacts to open her own full-service marketing agency in 2014.
They used to work up to 90 hours a week
Lindsey said that even though she was making good money on the leadership team at her previous company, she wanted to take a big risk. She started with one client who paid her $1,400 per month and slowly grew her client base. Ultimately, she went from just social media marketing to a full-service agency within the first five months.
Lindsey said her goal was to achieve stability as quickly as possible so she could help her husband get started with his new insurance agency. Sometimes they stayed up until three in the morning to work. Since becoming financially independent, both have a better work-life balance.
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“I wanted him to be able to work without feeling like I was in the way, and vice versa,” she says. “We had a really good balance when we started our businesses, which now gives us the flexibility to spend more time with our son and not necessarily go out at eight in the morning and work 90 hours.”
Although he didn’t make much money in his first few years, he was able to grow his customer base through word of mouth and referrals. Today his agency employs eight people.
“There were a lot of 70, 80, 90 hour weeks in which we toiled because the agency was founded from scratch. “It was zero dollars when we started and we’ve built it to the size it is now in the 11 years since it opened,” says David.
Achieving financial independence
At the beginning of their journey to financial independence, Lindsey and David lived far below their means. They spent only what was necessary and invested in their businesses. Both knew that they wanted to have a solid nest egg by the time they turned 30 so that they could theoretically retire or take on less responsibility at work.
The couple bought a home in 2016 and recently bought an eight-bedroom beach house in North Carolina, which they operate as a short-term rental. David says they were lucky that they bought their homes at the right time, as both homes have almost doubled in value, although they attribute their luck in part to how quickly they decided to buy the home.
Despite the success of their businesses, both said their philosophy on saving hasn’t changed much. They said they don’t even think about retiring until their mid-40s, even if they are financially independent. Even then, they still want to work in consulting or financial advice.
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With coupons in the supermarket
Aside from their home and beachfront rental property, they have no other debt and have low mortgage rates on both. “Buying property has enabled us to be where we are now, but I think we were very strategic in the early years by keeping our heads down and being very conscious with the money says Lindsey.
Even though they are financially independent, the two still stick to some of their savings strategies, like using coupons to save on coffee and groceries. Lindsey says she still finds herself buying a $30 handbag when she doesn’t need it.
“We often see people on the internet showing off their stuff and talking about how much money they make and giving these arbitrary numbers and it makes us laugh because we could do that too, but we just don’t,” says Lindsey.
However, they still spend money on large purchases that have personal meaning to them, such as: B. an “astronomical sum” for the North Carolina State Final Four game. They try not to compromise on quality when purchasing food and invest in their long-term health.
“It’s just interesting how we go in somewhere and clip coupons, but when there’s something that could be a life experience, we don’t even think twice about it,” she said.
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The ADII clarifies the terms of the VAT exemption on the importation of capital goods
This note, referring to circular n°6522/210 of the ADII and circular note n°735 of the Directorate General of Taxes (DGI), underlines that the Finance Law (LF) 2024 has subordinated the benefit of the exemption from VAT on the importation of investment goods, provided for by articles 123-22°, 133-23°, 123-24° and 123-25° of the General Tax Code, the obligation to the production by the taxable persons of sufficient guarantees in accordance with the legislative and regulatory texts in force.
“Thus, to benefit from the VAT exemption on the importation of capital goods, the importer must provide two essential documents, namely a commitment to register the imported capital goods in a fixed asset account likely to give rise to the right to the deduction provided for in article 101 of the CGI, as well as a document justifying the constitution of the aforementioned guarantees”, indicates the ADII.
The importer must contact the DGI in order to provide the necessary guarantees, following which and after examination and validation, the DGI establishes a certificate of deposit of sufficient guarantees which is transmitted to the ADII, reports the same source.
And to add that in the event of absence of the document justifying the constitution of the guarantees, and pending its delivery by the competent services of the DGI, the importer can request the deposit of the amount equivalent to the VAT.
Furthermore, it should be noted that while waiting for the automation of its computer exchange between the ADII and the DGI, the certificate of deposit of sufficient guarantees issued by the DGI must be produced by the importer in support of its import declaration.
The ADII clarifies the terms of the VAT exemption on the importation of capital goods
Which 30 branded hotels are up for auction?
– 2024-04-26 19:41:51
Not one – not two…but thirty hotels are expected to change hands by spring, as April and May hold “tourist” electronic hammers.
Some bigger and some smaller are the hotels that cross the threshold of electronic auctions. The electronic hammer will strike for some hotel unit from Orestiada, the Ionian Islands, the North Aegean, Delphi, Nafplio, the Cyclades. In short, the hotel auction house extends from one end of Greece to the other.
With the electronic auction board listing amounts from 108,000 euros – which is also the lowest price for a hotel unit in Katerini – to 300,000,000 euros.
Of course, the hotels that stand out as their prices are dizzying are the two hotels of the Mantonanakis group with a first offer price of the dizzying amount of 300 million euros. These are the historic Elounda Beach Hotel & Villas and Elounda Bay Palace. The two hotels reappeared on the online platform after the cancellation of the previous auction on March 6 by the Court of First Instance of Athens as it was then judged that there had been two significant omissions in the formal procedure prescribed by law. The hasty Eurobank of course came back and announced a new auction for May 15th.
According to a relevant post on the e-auction, the hotel units “ELOUDA BEACH” and “ELOUDA BAY” present a functional unit and form a single hotel complex and are put up for public forced auction with a first bid price of 300,000,000.00 euros
Eurobank urgently appears as the representative of the bond lenders of the joint bond loan of 300 million euros issued by ILIOS S.A. from 22.03.2007. of the Mantonanakis family.
Data
Based on available data, the Elounda Beach Hotel & Villas is a 5* luxury hotel, originally built between 1968 and 1971 with several renovations since then. In the appraisal assignment order from the auctioneer, it is stated that the ELOUDA BEACH hotel has a building surface of a total area of 15,982.32 m2, swimming pools with an area of 3,010.64 m2 and fields/sports facilities with an area of 1,467 m2.
However, in the appraisal report, the appraiser’s reservation is expressed as to whether these surfaces correspond to the real state of the hotel today, as differences are found in aerial photographs as 16 years have passed since the measurement. According to the published financial statements of the year 2020, the hotel has 249 rooms, while the Hotel Chamber of Greece shows a capacity of 263 rooms.
The seaside hotel Elounda Bay is located on the north-east coast of Crete and beyond accommodation services it offers a number of additional benefits. Elounda Bay Palace, based on the available data, is a 5-star luxury, with a time of original construction between 1968 with several renovations carried out since then, as stated in the relevant appraisal report. According to the published financial statements of the year 2020, the hotel has 266 rooms, while the Hotel Chamber of Greece shows a capacity of 252 rooms.
Bra de fer with the State
However, the Mantantonaki group is also in open war with the Greek government over the Grand Resost Lagonissi hotel.
The dispute over the property in Lagonisi between the businessman Mantonanakis and the Greek State dates back to 1999, when the Cretan businessman entered into a lease agreement with the EOT for an area of 326 acres in Lagonisi, lasting 77 years, with the obligation to implement investments of 263.9 million .euros, all of which would remain for the benefit of EOT and the Greek State after the end of the concession. Nevertheless, the contract was amended in 2003, between ETAD and Attikos Helios, and the company’s plans were not completed.
The Mantonanaki group maintains that it has been vindicated by final decisions of the competent Courts and in fact has been awarded in its favor and against the subsidiary company of the Superfund, ETAD SA, an amount of more than 750 million euros.
Elounda Beach and Papandreou
Elounda and Elounda Beach had become the permanent place where Andreas Papapandreou combined the terpnon after the utilitarian and where political processes took place between long dives and fish eating.
First time in 1989
The unique layout, the decoration of the spaces, the exclusive facilities and the unique location of “Elounda Beach” made it a pole of attraction for prominent people from all over the world, among the rich and famous guests of the luxury hotel were many princes, famous artists, well-known businessmen, state leaders and Greek politicians, as well as the founder of PASOK. In 1989, while the heavy shadow of the Koskotas scandal loomed over the country and he had gone through a painful adventure with his health, Andreas Papandreou changed his hotel accommodation in Elounda choosing “Elounda Beach” by Kostas Mantonanakis to have a luxurious vacation with Dimitra Liani
In fact, on the first day of his stay at the iconic hotel together with many members of his staff, such as George Katsifaras and Antonis Livanis, the managers welcomed him to the sounds of his favorite song at the time, performed by the singer Martha, which sang to him privately in Athens. The movement of the hoteliers moved the then prime minister and since then it has been repeated every year.
Source OT
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Which 30 branded hotels are up for auction? – 2024-04-26 19:41:51