Much has been said about inflation hurting society. As people’s buying power decreases, life gets more costly. Heck, the Fed seems hell-bent on causing another recession to contain inflation. However, as I look at the historical price changes of some of our most important consumer goods and services, I can’t help but think combatting inflation Read More... The post Combatting Inflation Is Straightforward...
Taxes are most likely our largest ongoing liability. Therefore, we should understand the latest tax brackets for 2023. I go through this exercise every year. Based on a thorough understanding of the 2023 tax brackets, we can then logically come up with the most tax-efficient, best income to earn to live our best lives. The Read More... The post 2023 Tax Brackets: The...
Recently, I can’t help but shovel more money into Treasury bonds. With 3-month-to-1-year Treasury bonds yielding 5%+, I feel like the guaranteed return is too high to pass up. But the more Treasury bonds I buy, the more I wonder whether I will regret the decision a year from now. Perhaps you are starting to Read More... The post Why You Won’t Regret...
As someone who is planning to buy a new car by 2025, I’m having second thoughts. With the average new car price at almost $50,000, it seems like only the rich can buy new cars today! Think about it. If you follow my 1/10th rule for car buying, you need to earn $500,000 to buy Read More... The post Only The Rich (Or...
Money is great. Money provides freedom. But you will always regret sacrificing love for money. When you get older, you will realize how true this statement really is if you haven’t found someone. Life is simply not as fun if you don’t have someone to share it with. Further, finding “the one” might also want Read More... The post You Will Always Regret...
I have a love-hate relationship with owning real estate because something always comes up. The more physical rental properties you own, the more problems you will have as a landlord. In June 2022, I decided to rent out a fully remodeled single-family home I had purchased in 2019. We had originally planned to live in Read More... The post How Landlords Can Create...
Although it’s a bummer to hear about more layoffs, I also feel a lot of hope and excitement for those who have lost their jobs for two reasons. First, there is the benefit of getting a severance package. Imagine getting a severance package worth six months of salary and then finding a new job two Read More... The post How One Man Negotiated...
Do you need more incentive to generate passive income in order to give yourself more freedom? Then look no further than the below two charts. They show the 2023 capital gains tax rates by income for both short-term and long-term. The short-term capital gains tax rate is equivalent to your federal marginal income tax rate. Read More... The post Short-Term And Long-Term Capital...
After writing about building passive income since 2009, people still seem to be confused about the difference between active income and passive income! Let me finally put this confusion to rest because I don’t want people to get tricked into thinking earning passive income is easy. It is not! It took me from 1999 – Read More... The post The Difference Between Active...
As more people look to retire early (<60), more people are looking for shortcuts in order to reach early retirement quicker. Some hate their jobs so much they are willing to retire early and live in poverty! Instead of retiring early to live in poverty or near poverty, wouldn’t it be better to find a Read More... The post The Amount Of Money...
