Income taxes can hinder wealth creation. Fortunately, for Americans seeking to save on taxes, there are nine states without income tax where we can choose to reside. These states are listed below in alphabetical order: Ideally, you'll secure a fantastic job and find your soulmate in one of these nine income tax-free states. As your […]
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Understanding the fundamentals of personal finance is pivotal for kids to successfully launch into the world of adulting. Money skills are necessary to navigate effectively through everything from life's humdrum day-to-day tasks to its elaborate complexities. Yet what surprises me is that most schools are still not required to teach financial literacy to students. Due […]
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On August 7, 2023, I received an email from Amy X. Wang, the assistant editor at the New York Times Magazine, inquiring about the modern-day FIRE movement and its Fat FIRE offshoot. Amy is a self-proclaimed FIRE enthusiast herself who has worked side hustles to make extra money and used rewards points to save. As […]
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One of my ongoing challenges as a writer is explaining financial concepts in an easy-to-understand manner. With a background in business school and 13 years at Goldman Sachs and Credit Suisse, financial concepts come naturally to me. Despite writing over 2,500 personal finance articles since 2009 on Financial Samurai, however, some concepts still get misunderstood […]
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In October 2023, my passive income took a significant $150,000 hit, representing a decrease of 39%, following the purchase of a new house. It was funded by proceeds from selling public stocks and bonds. The decision to buy the house with cash was agonizing, as we didn't need a nicer home. It also meant we […]
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Understanding how home prices fluctuate over time is one of the most intriguing insights gleaned from my post on the reasons behind property bidding wars. Understanding how prices change over time will empower you to make more informed purchases in the future. I contend that timing the housing market is comparatively simpler than timing the […]
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Well folks, as anticipated, bidding wars are back with a vengeance, at least here in San Francisco. If I were a real estate agent, I would never encourage my clients to engage in a bidding war. Winning such a war often leads to what's known as the “winner's curse.” This term signifies paying a price […]
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