Key Takeaways:
- Financial Samurai is a personal finance blog started by Sam Dogen in 2009.
- Sam stresses the importance of focusing on passive income, being gritty, and embracing criticism.
- He recommends tools such as Fundrise, New Retirement, Personal Capital, and Policygenius.
Keep hearing the name Financial Samurai and want to know who he is?
We got you.
We’ll review who he is, how he positively impacted the FIRE community, recommended tools, and more.
Let’s check it out.
Who Is Financial Samurai?
A lot of people know him by Financial Samurai; his real name is Sam Dogen. He’s retired from investment banking and now makes a living by writing articles on his blog, creating podcast episodes, and some private investments.
Dogen spent 13 years working at Goldman Sachs and Credit Suisse. In 2012, he “retired” at age 34 with a yearly passive income of around $80,000. A year after retiring, he became bored with inactivity and decided to return to work.
Since 2009, Dogen has written 2500 personal finance articles on Financial Samurai. In 1999, he completed his undergraduate degree in Economics and Mandarin from The College of William & Mary. Then in 2006, he got his MBA from UC Berkeley. In 2022, he published a book called Buy This, Not That, which became a Wall Street Journal best-seller.
Dogen has made $200,000 a year of passive gross income since 2017 but still wakes up excited every day to see what the world offers.
What Books Did Financial Samurai Publish?
How To Engineer Your Layoff
How To Engineer Your Layoff is one of the books that Financial Samurai published. This book teaches you how to negotiate a severance package without burning bridges. This course will also give you important employment knowledge that most employees don’t know about.
In this excellent guide, you’ll learn:
- How to negotiate the best severance package by developing the most beneficial relationships within your company
- How to negotiate a separation agreement
- How to successfully negotiate a severance package when you have another job offer in hand
- Before you even sign a job offer, find out how to negotiate a severance package in case things don’t work out
- Helpful information on your employment rights
- The benefits of negotiating a separation agreement
- And more!
Buy This, Not That: How to Spend Your Way to Wealth and Freedom
Sam’s second book, “Buy This, Not That: How to Spend Your Way to Wealth and Freedom“ is ideal if you’re searching for a book that’ll take the uncertainty out of financial planning. It covers what to buy and how much to spend. Ensure every dollar goes toward growing wealth and living your life on your terms.
Here’s what you’ll learn:
- The Financial Samurai’s 70/30 rule for making the best financial decisions
- What’s the difference between “good debt” and “bad debt,” as well as how to pay down or invest to earn more money
- Find out which tried-and-tested methods for earning passive income fit your goals and risk tolerance.
- What all you need to know about buying real estate
- Guidelines for spending money on everyday purchases like coffee and the occasional car
With this book as your guide, you’ll have all the samurai wisdom you need to take control of your personal finances and build the life you want.
Advice From Financial Samurai
Focus On Building Passive Income Streams
Focusing on building a passive income is crucial if you want more control over your time and life. With passive income, you’ll have money coming in even when you’re not working a full-time job, so you can spend more time doing the things you love.
One great way to build passive income is through real estate investing. With real estate, you can make money even when you’re not actively working on it. For example, you can simply buy a property and rent it out; the money will come in every month without you having to do much of anything.
Of course, there are other ways to build passive income as well. For example, you can invest in stocks, bonds, and other investments that will pay you even when you’re not actively working on them. Whatever method you choose, the important thing is to focus on building a passive income so you can have more control over your time and life and eventually achieve financial freedom or early retirement.
Be Gritty
I am full on board with this message from financial samurai. If you can demonstrate a long-term dedication to one thing, especially for ten years, you will be more likely to succeed. This advice is invaluable for anyone who feels like they are struggling or about to give up. Many individuals give up far too quickly, but if you can be tenacious and endure the difficult times, you will triumph!
Embrace Criticism
It can hurt sometimes, but it’s also essential for growth. If you’re not getting criticized, you’re probably not doing anything important. Samurai income doesn’t come without making some noise.
For example, if you’ve had a successful marriage for 20 years and give advice to others, you might get criticized by those who are unhappy in their relationships. The key is to listen to criticism, learn from it, and then move on.
The samurai way is always to be growing and learning. So don’t be afraid of criticism; embrace it as a tool for growth. It’s the only way to get better.
Recommended Tools and Resources
New Retirement
The New Retirement planning tool allows you to achieve the retirement of your dreams with tons of features, including:
- Having your finances all in one spot can simplify your life: Their easy-to-use interface makes it simple to input your data and get started planning for retirement. You can be on your way to a stress-free retirement with just a few clicks.
- Brainstorm new opportunities: As you build your strategy and incorporate new data, they highlight possibilities, optimizations, and other concerns you should be aware of.
- Be decisive and act on your decisions: Investigate what-if situations from life occurrences and other adjustments and how they will impact your retirement plan. After that, take action and make the changes needed to stay on course.
- Stay the course: Check in on your progress as you make financial decisions and put your strategy into action to see how you’re doing.
Personal Capital
Personal Capital is a fantastic tool I highly recommend for anyone looking to get their financial life in order. It is a free online platform that aggregates all your financial information in one place so you can see where you stand financially. You can also use Personal Capital to set and track financial goals, create a budget, and invest smarter.
Thousands of people have used Personal Capital to take control of their financial lives, and I am sure you will find it helpful too!
Policygenius
Policygenius is a website that helps people find and compare insurance policies. They have various policies to choose from, making it easy to compare different options.
From pet, home, auto, disability, and life insurance, to more specialized coverage like flood or identity theft protection, Policygenius can help you find the right policy for your needs. And because they work with various insurance companies, you can be sure to get the best possible rate.
Fundrise
Fundrise is an online investment platform that allows you to invest in real estate crowdfunding projects. It’s a great way to get started in real estate investing, and it’s a great way to diversify your investment portfolio.
For those who want to dabble in real estate without the headache of getting tenants or a property manager, Fundrise is a great option. You no longer have to deal with the hassles of traditional real estate investing.
You can also start with as little as $10, which is excellent for those new to investing. Or with a limited budget.
Here are some of the things you can do with Fundrise:
- Invest in commercial properties
- Diversify your investment portfolio
- Access exclusive investments not available to the general public
- Get started with as little as $10 or as high as $100,000
If you’re looking for a hassle-free way to invest in real estate, Fundrise is a great option.
FAQ
How much is Financial Samurai worth?
The founder of Financial Samurai makes over $300,000 in annual income. So it is safe to assume he has a net worth of over $1,000,000.
Where does Sam Dogen live?
Financial Samurai lives in San Francisco, CA. His long-time hobby is tennis, and he has taught his tennis skills at high school to win several state championships.
Did Sam Dogen go to grad school?
Sam Dogen has an MBA from UC Berkley.
Does Financial Samurai have kids?
Yes, Financial Samurai has a young son and daughter. Thanks to stock market success and passive investment income Sam has been able to quit his day job making big bucks at corporate America, live life on his own terms, be a stay-at-home parent, and enjoy the good times with his 2 young kids.
Is there a Financial Samurai newsletter?
Yes, there is. You can sign up for the Financial Samurai newsletter to receive the latest articles and best ways and get exclusive tips and updates on topics such as: The global financial crisis, fed funds rate, capital gains, bond yields, credit cards, inflation data, best passive income investments, health insurance, federal government actions, short-term treasury bills, side hustle earning potential, severance pay strategies, and more.
Summary
Financial Samurai is a personal finance expert with over a decade of experience in the industry. He’s the author of two books and advises achieving financial independence through smart investing and disciplined saving. We hope you enjoyed this crash course in Financial Samurai and his valuable insights into personal finance. Follow his advice, save regularly, invest for the long term, and be patient – you could be well on your way to achieving your financial goals!
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What Financial Samurai advice will you follow? Share with us in the comments below!
Hello! I'm Charles. 1st gen millionaire, real estate investor, health enthusiast, and military veteran. In the last 17 years, I have managed billions of dollars of resources for the Department of Defense. Created financial management plans that enabled fellow service members to get out of thousands of dollars in debt and tailored wellness plans that helped people reverse and eliminate high-blood pressure, pre-diabetes, and obesity. Learn more about me here.