Bryan C. Fleming

I came across SVB’s (Silicon Valley Blogger) blog the Digerati Life around the first of the year.  I like her perspective on life in Silicon Valley.  She writes about working for Start Ups and what it’s like being in the middle of the Internet’s hottest movers and shakers.  It’s certainly a fast-paced high stakes game out there.

SVB offers financial tips and advice that I think are worthwhile for anyone and her writing style is fun to read.   I was very excited when she accepted my offer to interview her for the readers of the Million Dollar Savings Club.

Here’s the Interview… Enjoy!

   1.  What made you decide to write about Personal Finances?

I got into blogging because it was my initial intention to track the progress of my family’s home businesses and company startup.  However, after 3 months, I found that I was more interested in blogging about personal finance, which I feel very comfortable with and which happens to be one of my true interests.  As I read further into how to develop a better blog, I learned that writing what you know about and what you enjoy writing about were key.  Therefore, I decided to merge my personal finance and business interests into my blog, and ultimately it has become heavier weighted in personal finance.  It doesn’t mean I won’t be discussing our business on occasion.  I am crossing my fingers that in the future, I will be able to write about how our business is impacting our personal finances as well.  That should be interesting!  Of course, the main reason for doing this is that I’ve always wanted to help educate, entertain and inspire others by telling my story or by just discussing topics that have had an effect on me.
 

   2. What was your biggest Money Managing mistake?

Alas, when my emotions get in the way of things, I’ve made some horrible mistakes.  Just last year, my spouse and I had massive arguments over when to redeem some company options.  We had a 3 month window to sell off the options following my spouse’s departure from his corporate job.  When the stock “crashed” at the start of that time frame, we sold off EVERYTHING, fearing that the sky was falling. This cost us a huge chunk of money: basically much of the profit we had built up over the years in this position.  Even with 16 years of investing experience, we’ve still made mistakes.  Here’s what we should have done instead:

Diversify from our concentrated positions in stock options as they become vested.  We should have followed a divestment schedule in a mechanical fashion and placed proceeds into index ETFs or funds. We should have better prepared for the event of leaving employment recognizing that a forced redemption would be in the horizon.  By planning better, we would have avoided being backed into a corner with a dying stock.    

   3. How long have you been saving money?

Around 16 years.
 

   4. How much money did you accumulate before you stepped back and said “Wow.  This is powerful stuff”?

When I made the first $100,000.  I was amazed at how it was so easy for money to add up when you’re in a strong bull market. I’d see my statement totals ratchet up while I did nothing.  Painless and amazing.

   5. What the biggest thing you’ve given up in order to save more money?

How about this: My pride (or is it vanity?) and in a sense, privacy.  I decided that function was more important than appearance.  That translated into making the following choices:  I gave up nice clothes and any vanity materials. I saved by not paying a premium.  I was not wanting of anything since I had a job that paid decently, but instead of buying an expensive car for example, I bought the most economical car that was available with only the basic features.  I totally practiced living within my means  while prioritizing saving over fun, enjoyment and aesthetics.  As a single person, I also managed to save more money by entering into some deals with family members: for instance, negotiating rent and other expenses to stay in a common household. 

   6. What advice can you give to the readers of Million Dollar Savings Club who are just getting started?

Read, study, get and stay inspired. Never finance anything (except your house or if need be, your education).  Put savings on auto-pilot and wisely invest what you save.  What I didn’t skimp on were books, magazines and periodicals on personal finance.  I spent money on my education in this area since I didn’t learn this in school or while growing up.  I picked up my first personal finance book at the age of 20.  I read a lot to educate myself but also to feel inspired by others’ stories.  It helped me to keep disciplined and to keep my saving and investing plans a priority. Today, you can get a lot of the information for free so keep learning, be willing to take action on what you’ve learned and stay the course.  You will hit your dreams in time!
 

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