About Me – Cash Lab

My Personal Finance Blog

Hello and welcome to my financial world!  I created this personal finance blog in order to help me improve my finances, keep track of my progress, and to help readers improve their finances along the way.  I also have a passion for helping others when it comes to marriage and finances which I like to share.

I’ve always known that I would like to retire early but I never had a clear path on how to do this.  Retire early to me means to quit my job and not have to rely on a paycheck.  I don’t ever plan to stop working as I have other areas of interest which I’d like to work towards.

I am happy to say that we have made strides to retire early!  My wife and I now only work 24 hours per week each at our jobs instead of 40 hours per week.  We have already reduced our time at work by 40% which is huge!  This has allowed us to spend more time as a family and to pursue other passions.  Although we have reduced our hours at work and income, we have not reduced our lifestyle.

What’s in a Name?

I like to hear how people arrived at their personal finance blog names.  I’ve created many websites and the hardest part to starting a new website is to come up with a name.  The name I chose for this blog, Mad Cash Lab, is actually two phrases combined.

Mad Cash

The definition of mad money or mad cash is: “a small sum of money carried or kept in reserve for minor expenses, emergencies, or impulse purchases.”

Mad cash is also slang for having lots of money.  “That dude has mad cash!”

The goal at first is to create small passive income streams which can cover everyday living expenses.

For example, we have a rental property which covers the cost of purchasing and maintaining two cars.  If I stopped working today, then we have a stream of income that covers transportation expenses.

Now I have to multiply my streams of income to cover other expenses such as food, utilities, real estate taxes, etc.  Once this is achieved then I can retire early.

Cash Lab

I originally just wanted to use the word “cash lab” as my site however it was already taken.  I thought it flowed well and would work great for a personal finance blog.

In a lab you are producing something by trying different formulas.  I like to produce CASH through multiple streams of income.

My formulas currently are real estate, dividend income and monetizing this blog.

When Will I Retire Early

I want to be rich and wealthy so that makes retiring early a little more trickier.  I would like to be able to accomplish this by the year 2020.

There are certain milestones I need to cross in order to quit my job:

  • Move into our “forever” home.
    • This will cost between $500,000 – $600,000 in the area we live.
  • Have no personal debt.
    • Business debt is ok as long as the business sustains itself and makes a profit.
    • I would like to have 2 high end rental properties fully paid off however.
  • Replace my current salary with passive income.
    • That include gross income and health benefits which are paid for me.

Keep In Touch!

I love reading comments from my readers!  Please feel free to share your thoughts on any of my posts.  I will be sure to visit your blog as well to learn more about you!

Stay in touch with social media and I will be sure to do the same:

MadCashLab on Facebook

@MadCashLab on Twitter

4 thoughts on “About Me – Cash Lab

  • September 26, 2016 at 12:22 am
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    Hey cash lab, I came across your blog from twitter, you may have seen me my page is named Wise Money (just made it yesterday). I could relate to a lot of what you were talking about throughout this post. I too have motivation to become financially successful (not in the sense of being filthy rich), but to live a life wear money doesn’t control me.

    I recently quit a job making very good money, which some said I was crazy for doing. (I’m 26). Even though the money was good, I created some financial barriers and had bad spending habits. Right now I’m in the process of selling my first home and moving to Florida with my fiance for a more simple lifestyle. Selling the house is what will allow me to pay off all of my debt to start a fresh clean slate somewhere, and luckily I have been able to save and invest some money in the stock market (also helping with the move)

    Anyways, just wanted to share with you a little bit of my background and my goals.

    Best Regards,
    Timothy Carter

    Email: tjcaffiliate@gmail.com
    My Finance Blog: https://www.wisemoney.net

    Reply
    • September 26, 2016 at 8:48 am
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      Hi Timothy,

      That’s great you can start with a fresh slate at the age of 26. Even better that you are aware of past spending habits and are willing to change those. Once everything is settled, you are in a great position to create the lifestyle you want! I wish you the best in your debt payoff, a simple lifestyle with your fiance, and move to Florida. I’ll check on your website from time to time to see how everything is going. Thanks for getting in touch and I am honored that you added me to your blog roll.

      To Your Success!
      Cash Lab

      Reply
  • February 3, 2017 at 5:47 am
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    Love the name, I really want to clear all my debts/loans and retire early! Let’s do this! 🙂

    Reply
    • February 22, 2017 at 4:48 am
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      Knocking out debt is the single best thing you can do to become financially free!

      Reply

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