I like this guy, Brett Platt for two reasons: 1) his first and last name both end with a double ‘t’ and 2) he offered some rock-solid investing wisdom to readers of Kiplinger’s Personal Finance.

The article, “Ordinary investors, Extraordinary Results” highlighted six people that have done really, really well investing. They’re not billionaires, but they’ve done really well. I thought it was a pretty cool idea to feature some average Joes.

The first person featured is Brett. Kiplinger’s focused at first on his strategy, his returns, how big his nest egg is, what he focuses on, etc. It was all great reading. But the part that stuck out to me was Brett’s advice at the end:

First, cut back on luxuries so you’ll have more to invest. Next, bounce stock ideas off tough critics…Finally, make time at home to research stocks by throwing out your TV.

I liked the first part about living within your means because he didn’t just end there. He didn’t say, “live within your means because it’s the right thing to do” or “live within your means because you really don’t need all that extra stuff.” He said live within your means so you’ll have more to invest. There’s purpose behind that principle, and I like that.

I attract (and continue to try and do this even more) people to this website who are interested in learning how to budget effectively. I’ve written before about how budgeting is really your foundation to financial health. But what Brett’s short comment so aptly points out is that the budget is only the foundation.

You still need to build something.

So when you’re effectively living within your means, budgeting, telling your dollars what to do, maximizing the power of your hard-earned dollars, you need to be doing it for a reason. One reason should be investing. While the article highlights mainly stock market investing, there was one person featured who made a lot of their money in real estate. There are diverse ways to invest your money. Thomas Stanley in The Millionaire Mind makes the point that a lot of millionaires invest in what they know a lot about already. Are you a retailer? Then you’re probably a darn good investment analyst for retail stocks. Are you a realtor? Then why the heck are you not buying properties that are bargains? Your network and information is so valuable! Are you a stay-at-home Mom? What stores do you frequent and why? What products do you and your friends purchase and why? Do you patronize some businesses that have a lot of potential?

Live within your means and invest in what you know.

On to the second point. Brett tells beginning investors to throw away their TV. Been there. Done that. Never looking back.

When my wife and I first married we didn’t own a TV. We also lived in a basement apartment where the kitchen and living room were combined, and our bedroom was–small. Our rent was dirt cheap though and we were able to save money as a result. I’m sure we looked pretty destitute to some. We didn’t have a couch for the first little while either.

Some people from our church anonymously dropped off a TV, VCR, and some VHS movies one night. We were surprised by the generosity of these anonymous givers.

We kept the TV for a while and enjoyed watching BYU football during football season (though their season wasn’t much to brag about). We got used to the TV. I’d flip it on to see what was on. We’d watch programs now and again. I noticed I began watching more of it actually. I probably got up to about an hour a day. One Saturday was the straw that broke the camel’s back. I decided I’d watch The Abyss, which is a great movie, but when the network takes an already long movie and inserts tons of commercials into it, it lasts four hours. I sat in front of the TV for four hours on a beautiful Saturday!

Later that night we decided the TV had to go. We sold it to a guy and grabbed some Chinese food with the proceeds.

That was several years ago and we haven’t looked back since. I know it may appear that I’m getting off-topic a bit, but bear with me.

When we knew our first baby was on the way, I began stressing about money quite a bit. Keep in mind, we’d been using YNAB since Day One of our marriage and as a result, had saved a good amount of money. I was still stressed though. I was working a part-time job while going to school and Julie had been the breadwinner, working full-time. We both really wanted her to be able to stay home and be a mom when the baby came, so I knew her income was completely out of the question.

For several weeks I would crunch numbers different ways, trying to figure out if we could live off of savings, avoid borrowing money, and still have me working just part-time. I started throwing in variables like me working 30 hours per week instead of 20 and it wasn’t looking so bad.

Well, when you don’t have a TV around, I think you have more time to be productive. Shortly before the baby came, I decided to look into selling YNAB to make some extra money. Friends had expressed an interest in it, and I thought it might fly (for the record Julie didn’t think anyone would every buy it, boy was she wrong!).

I had more spare time than the next guy because I didn’t watch TV. Really. People watch way more TV than they think they do. That time adds up.

As a result of having that extra time I was able to learn 1) how to code macros in Excel, 2) write web pages, 3) code rudimentary PHP, 4) a bit about how search enginges work, 5) more about writing, 6) online marketing, 7) customer service, etc. The list goes on. The most satisfying thing about the whole ordeal is that I’ve been able to meet a whole bunch of new people, strike up new friendships and business relationships, and help a lot of people budget.

I’ll also be the first to tell you that I possess no extraordinary skills whatsoever. I’m your very average Joe, working toward being a Jack-of-all-trades apparently.

No, not having a TV was not the sole reason the website came into being, but I can’t just write it off either. I talk to my peers every day who are still in school, starting their first real job, etc. and they all express the same lamenting wish for more time. A quick way to give yourself more time is to sell your TV and grab some Chinese takeout.

While Brett meant to use the saved time for stock research, I see it as much more far-reaching than that. Look for places where you truly waste time and try and eliminate those from your life. Fill the wasted hours with something meaningful and productive. You just never know what will come of it.

Today the United States celebrates its day of independence. My thoughts naturally turn toward the great people that fought for this country’s freedom. We have so, so much to be thankful for.

I’ve often wondered what it would be like to have lived back during the time of the American Revolution. You can be certain that not everyone living in the colonies wanted to be free from British rule. I’m sure some were perfectly content living under the reign of the King. Others couldn’t bear it, couldn’t live with it, and eventually even gave their lives for it.

Two hundred plus years ago there were divisions among the American people regarding their declaration of independence. Was it the right move? Had they done the right thing? Those men that signed the Declaration were putting not just their livelihoods on the line, but their very lives. They believed that what they were doing was worth it.

The revolutionaries obviously faced fierce opposition from the British. But what about the opposition they faced on their very own turf? What about those people who were not just lukewarm toward the revolution, but were downright opposed to it? I personally think those were likely the most trying of situations for the revolutionaries - to have opposition from the inside.

Still, because they wanted it so badly, they fought for it - and eventually they got it. Independence. The work didn’t finish. The worrying didn’t finish. The Articles of Confederation didn’t make it. The Constituional Convention almost didn’t take place. Ratification was a stretch. But they made it.

I was sitting in the library of the University today doing some studying. My mind wandered away from the procedures required of a CPA when issuing a compilation report (it’s quite easy to let the mind wander from such things) and I just sat there thinking about all of the great people of this world that have done so many unbelievable things while staring opposition straight in the face. They had an enviable fire burning inside them that ignited them to act.

They took A C T I O N and accomplished amazing things.

Some were inspiring as they overcame what seemed to be insurmountable obstacles. Others had the ability to lead men to higher ground. In a way, great people show you how to gain independence over certain aspects of your life, whether it be spiritual, emotional, physical, and yes, even financial.

The greatest question to ask yourself (and ask it often) though:

“What will I do?”

From what will you gain your Independence this year? I find July 4th to be a great time to look back at the previous six months and assess where you have been, what you have accomplished, and where possible improvements need to be made. Standing in the middle of the year, you can then do an about-face and look toward what will come, what you will accomplish, what you will overcome, and where you will gain a little bit more freedom.

Freedom comes from continual empowerment. This empowerment is a product of consequence. Consequences are children of our actions. What actions will you take during the next six months that will empower you more than ever before? From what will you gain your independence? Even when the right choice is made, there is still opposition. I suppose nobody will today stand and say that the revolutionaries made an ill-advised decision. Of course not. But was there still opposition to their decision? Absolutely.

As you begin making the right decision about certain aspects of your life, you too will face opposition. That does not mean you should stop. That does not mean the decision wasn’t right. If anything, it seems that good choices are followed by tough situations. Keep a steady hand and a hopeful heart that the areas of your life where you’re focusing will improve. You must take action to change.

You must take action.

Happy Independence Day.