Here’s something I’ve never done before: decided in advance what I’m going to read in a year. I might end up hating this structure and abandoning it two months in, or it might be the most satisfying thing I’ve ever tried – we shall see!
For each month of 2020, I’ve chosen a fiction or memoir and a non-fiction read. (I hope to read more, but two books a month is typical for me and a pace I’m confident I can keep up with!) You’ll also see that I placed a few books specifically to coincide with the 2020 reading plans of friends or other bloggers I enjoy, just for fun.
This is certainly not a book club in the traditional sense, but you are more than welcome to join me for any of these picks throughout the year, if you like! Even if you don’t, you might see them pop up in posts in the months to come :) I’m hoping to share a few brief thoughts on Instagram along the way, too, as well as in my monthly goal posts.
Many of these picks line up with my 2020 goals, which I’ve finalized and am planning to share on Monday! Without further ado…
January: The Ruthless Elimination of Hurry | Val’s favorite book of 2019, and hopefully a great set-up for my year as a whole. Long Bright River | A brand-new book (releasing on January 7th!) by one of my literary-agent-brother-in-law’s authors. I got an early copy and have already finished it – it is FANTASTIC!
May: The Secrets of Happy Families | This has been on my TBR list for awhile, and when it popped up on Janssen’s plan I knew this was the year. Save Me the Plums | I’ve read two other Ruth Reichl books and loved them both. Can’t wait to dig into this one about her time at Gourmet.
November: Time to Parent | Can’t remember where I read about this one but reading the description got me excited all over again Make Something Good Today | I’ve always had a soft spot for Erin and Ben since Southern Weddings launched them onto HGTV (true story!). I’ve been wanting to read their memoir since it came out.
December: The Geometry of Wealth | Generosity and contentment seem like perfect topics going into the holidays The Nazi Officer’s Wife | One of the most-starred book on this list to finish the year
I’d love to hear: do you plan your reading in advance? Have you read any of these books? Would you like to read any alongside me in 2020? Let’s chat!
Two and a half years ago, I shared with you our plan for paying off our mortgage early. In that post, I walked you through our journey up until that point, from simply making extra payments each month to investing the extra payment in a brokerage account. Over the last year there’s been a new plot twist (as I alluded to in this post!), and I’m happy to pull back the curtain today!
Let’s look at a timeline, shall we?
Spring 2013: We buy our house! We pull together a 13% down payment. Fall 2014: After paying off our car loans, we use about half of what we had been paying to make an extra mortgage payment each month (directly to the bank), and the other half to build up a fund for our next car purchase. Fall 2015: Car fund complete, we shift the amount we’d been paying toward our mortgage, too. Instead of paying down our mortgage directly, though, we begin transferring the extra monthly amount into a brokerage account and invest it in a mutual fund.*
The main critique of paying off a mortgage early is that it doesn’t make sense to pay off a low interest rate mortgage when you could be earning higher rates of return by investing. We still planned to pay ours off early, but ALSO wanted to take advantage of compounding interest by investing the extra payment instead of applying it directly to the mortgage. We were comfortable with the extra risk that exposed us to (and the extra willpower it required of us!).
When we saved enough to pay off our mortgage, we would pay it in one lump sum. Hooray, right!?
My husband, though. He’s always thinking. And last year, he came to me with a suggestion: what if, instead of simply saving the amount we needed to pay off our mortgage and then handing it over to the bank in one huge sum, we saved a little longer – maybe two or three years, maybe less, maybe more (depending on the market’s performance). If we could wait just a few years longer, then we would have amassed a large enough amount of money that, carefully invested, the returns themselves would be large enough to cover our monthly mortgage payment, meaning our mortgage would no longer need to be a part of our household budget.
It would be as if we had paid off our mortgage, and yet, we’d also be realizing these other benefits:
1. We would not lose the mortgage interest tax deduction (less of an issue under current tax law).
2. By the miracle of compound interest, in 23 years, when we make the actual final payment, our calculations project we should still have anywhere from 50% to 150% of the money we started with (!!!).
3. That large remaining lump sum could then be used to pay for kiddo college tuition, a rental property, a fabulous vacation, some really extravagant generosity, or – most likely – all of the above.
A mostly unrelated but highly adorable photo of Shep and our home
When John first presented this plan, I was not particularly enthused – all I heard was “a few more years of saving” and no “we’re debt freeeeee!!!” scream. (Because technically we wouldn’t be, and it would be weird to scream “we have XXX in our bank account!!!”)
But John’s desire was to make the most of our years of sacrifice, because we both desire to be good stewards of our money. This sounds harsh, but to work so hard to save so much and then sink it directly into a illiquid asset like a home instead of allowing it to continue to grow seemed like a squandering of possibility. If we could steadfastly reach this goal at a relatively young age, it would behoove us to continue that momentum instead of slamming on the brakes by sinking it into our home.
Okay – I was on board. And maybe you’re nodding alongside me right now. This all sounds good, right?!
Here’s the HUGE X factor – with this iteration of the plan, like the last one, we are vastly more exposed to the market than we would be if we were making payments directly to the bank each month. As I talked about in this post, by making those payments directly, it’s like getting a guaranteed 4% (or whatever your mortgage interest rate is) return – nothing thrilling, but respectable for zero risk. Our approach requires accepting that the money we’re socking away could actually lose value – and that’s why we don’t know exactly how long it will take us to reach our goal.
Worth mentioning at this juncture: if you like the idea of trying something like this, I would highly recommend working with a financial advisor (and one who understands what you’re trying to do). Of course, it’s possible to make investment decisions on your own, but I don’t want to give you the impression that it’s just little Miss Creative Director over here knowing all the things and that you should be able to do the same. John IS a financial advisor, and if he weren’t, we would definitely be seeking expertise on decisions of such magnitude.
A final word of caution, the same one I gave in my last mortgage post: I would only consider doing our “next level” system if you have a long track record of steely willpower with your money. It is so tempting to just take a little here or there as you watch that fund grow and other needs come up. If you’re nervous you’d be tempted or don’t want to stomach the risk, just apply the extra payments straight to your mortgage – done and done. Also a fantastic option.
I want to end by saying I realize this post is Marvelous Money 301. It’s a more advanced topic than I usually touch on, and perhaps it feels wildly out of reach for you right now. I get that. I share this not to brag (!!!) or make you feel defeated (hopefully you know that!), but to stretch your imagination of what’s possible, and perhaps plant in you an idea that you’d never heard of before.
My next MM post (series!) is going to be squarely back at the 101 level, and it’s the most-requested topic that I’ve yet to touch on: investing 101! I can think of few topics that are simultaneously as intimidating and as powerful. I’m excited to dig in :)
*Earlier this year, as an experiment, we shifted our money from mutual funds into a managed account. We’ll talk about this more in the forthcoming investment series!
A final reminder: I am not a financial professional, and nothing I say here should be construed as investment advice! I’m just one gal sharing her story :)
UPDATE: Winners have been chosen! Congratulations to Madi, Rachel, Katie, Clara, Connie, Whitley, Elise, Katie, Virginia, and Ashley. All have been emailed :)
Friends, this is my Oprah moment! If you’re not going to host an amazing giveaway on your ten-year anniversary, when are you?! To celebrate each of you, I’m giving away ten prizes, keyed to ten of my favorite Em for Marvelous topics. Without further ado, here are the prizes, given in honor of our shared passion for…
FINANCIAL FREEDOM | A year’s subscription to You Need a Budget. Though I’ve never used YNAB personally since I have my own crazy system, it comes highly recommended, I love their philosophy, and I know it will be an amazing catalyst for some lucky person.
ADVENTURE | A $50 Airbnb gift card. Some of our most amazing experiences have been launched from the front doors of strangers’ homes – I can’t wait to see where this will take you!
KIDDOS | An Emily Ley baby book, in your choice of mint or blush. This is the memory keeper I use for both June and Shep, and unsurprisingly, it is perfect in its simplicity.
MARRIAGE | A copy of The Meaning of Marriage, probably the best book on relationships I’ve read.
GOALS | A set of 2019 PowerSheets when they debut in October, in your choice of cover (!). Since I started using them, nothing has helped me make progress on my goals more.
CELEBRATIONS | A copy of How to Celebrate Everything, by far the best book I’ve read on creating traditions and cultivating a rich family life in the most doable, joyful, real-person way.
GENEROSITY | I will give $500 to the charity of your choice, in your honor, provided it is an accredited 501c3 public charity. We are blessed to be a blessing.
Very special thanks to Cultivate What Matters, One Love Organics, and Emily Ley for helping me throw this giveaway!
TO ENTER:
Since I’m just over here doing this for fun, I don’t have any hoops for you to jump through, but I am going to make you work a bit, ha! To spice things up, I’d love for you to leave a comment answering four questions as your entry:
1. The best book you’ve read recently:
2. The Hogwarts house you’d be sorted into:
3. The coolest place you’ve traveled in the United States:
4. A low- or no-cost item on your bucket list*:
*Examples from mine include hosting a chocolate chip cookie taste-off, taking June to play BINGO, setting up an ice cream sundae bar for our family just because, and hiking a Western NC bald :)
As a bonus, tell me which prize you’d most like to win! I will randomly choose and email ten winners next Thursday, October 4. Can’t wait to read your answers, and good luck!!
UPDATE: Winners have been chosen! Congratulations to Madi, Rachel, Katie, Clara, Connie, Whitley, Elise, Katie, Virginia, and Ashley. All have been emailed :)
I feel like it’s trendy right now for people to say that they don’t read or like parenting books… but I unashamedly love them! I think if you don’t like them, you might not be reading the right ones :) Just because I finish a book doesn’t mean I agree with everything in it, but I find it valuable to have my parenting ideas challenged, encouraged, and refined through exposure to other perspectives.
If you’re looking for the good kind of parenting book, I have a few suggestions! In alphabetical order…
All Joy and No Fun | You guys are probably sick of hearing about this book, ha! I think the author and I have a similar desire to confront conventional wisdom and some of the “sacred cows” of parenting, and to examine them in a way that empowers parents to chart their own course. The author is also great writer, and the way she weaves together family narratives and hard data will keep you engaged!
Bringing Up Bebe | I will admit that before I read this book I did not have high hopes – it seemed like a kind of “pop parenting” book that might not jive with my style or offer any interesting insight. Boy, was I wrong. Beyond offering a fascinating glimpse into another culture and being (again) very well-written, there were tons of actionable ideas I plucked from Pamela and tucked into my own parenting toolkit.
The Fringe Hours | This book isn’t for just parents — it’s for anyone who struggles with finding time for herself — but I think it’s earned a spot on this list for obvious reasons. Jessica and I are kindred spirits: we both think people should stop saying they’re busy, we like calendars with lots of white space, and we don’t feel guilty about doing things we love. If you like EFM but struggle with these things, you will probably like her book. I wrote about it here, too.
How To Celebrate Everything | For me, one of the most magical parts of being a parent is creating magic for my children. (The secret here — and the beauty — is that kids are so ready to see the magic in everything!) This is by far the best book I’ve read on creating traditions and cultivating a rich family life in the most doable, joyful, real-person way. One of my favorite gifts for new parents!
Last Child in the Woods | This book took awhile for me to get through, but I loved the reminder of how vital our children’s connection to nature is. This is something I already believe in passionately, but I welcomed the reminder to dig in and make this happen despite all the factors that conspire against it! If you dream of your kids growing up in nature but have concerns about how to make that happen, this book is for you.
The Lifegiving Home | Judging by the sheer number of quotes I saved from this book in my “good words” folder, it’s a slam-dunk inclusion on this list. With four grown children, Sally has actually created the home so many of us desire – one filled with love, joy, meaning, and purpose, that launches children who are confident, kind, full of integrity, and in love with God.
Nurture Shock | This book was fascinating!! In addition to having eyeopening research, I loved the specific and actionable suggestions for all sorts of topics, from encouraging early vocabulary to fostering sibling relationships, cultivating executive function in preschoolers, and arguing with a teen :) This reminded me of Freakonomics or one of Malcolm Gladwell’s books.
The Opposite of Spoiled | I don’t expect John and I will find it difficult to talk about personal finance and generosity with our kids (it is, after all, one of our favorite topics!), but, being extremely practical and action-oriented, this book gave me some new tools for our kit. I took it out of the library, but imagine I’d like to re-read it when our kids are different ages!
Parenting with Love and Logic | If I had to pick one book that most closely aligned with my overall parenting and “discipline” philosophy, it would probably be this one. I love the author’s focus on teaching children responsibility through logical consequences, resulting in kids who are confident and motivated and parents who maintain healthy control, simply. I have recommended this one to SO many people since I’ve read it.
Simplicity Parenting | I found that I already agreed with and intrinsically knew the premise of this book — “the power of less” to raise calmer, happier, and more secure kids — but it was still a worthwhile read. I skimmed a lot of this book (it’s a little repetitive), but was happy for the reminder and encouragement! If you find yourself fighting the temptation to do and be more, more, more as a parent, this could be a great read for you!
The Tech-Wise Family | This easy-to-read but impactful book had me exclaiming “yes!” and reading passages to John all the way through! (In fact, since it’s short and digestible, it’s a great one to encourage your husband to read if you want to start a more open parenting dialogue!) Even as someone who already identifies as fairly anti-technology in terms of parenting, this book expanded my horizons and gave me so many great points to consider.
To Kill a Mockingbird | Yes, my favorite book of all time is partly my favorite because of all the parenting wisdom it imparts! If I had to choose one fictional character to model my parenting after, it would be Atticus. I find a new nugget every time I re-read it.
I would love to hear a favorite parenting book of yours in the comments!!
P.S. I am working on a follow-up post to this one that shares bite-size favorite takeaways from some of these books – look for it in the next few weeks! :)
