How To Get Hired If You Are Overqualified Or Don’t Need The Money

Overqualified For A Job, Occupy Wall StreetConvincing your spouse to allow you to go on a trip with friends to Vegas is easy compared to convincing an employer to hire you if you’re overqualified, too old, or don’t need the money. Finding any type of work is like dating. The older you get, unfortunately, the harder it seems to find a match.

But just like dating, finding that perfect someone is often hilarious, frustrating, expensive, and sometimes painful. Let me share with you a short story about one company I met with a while ago where I failed to find a connection.

Clarifying The $250,000 / $500,000 Tax-Free Home Sale Profit Rule

Tax Free Profits For Homeowners

Who doesn’t love free money?

The Financial Samurai community rocks. There’s just so much collective knowledge from each of you that ensures the content published here (posts and comments) is as accurate and helpful as possible. As the conductor of the site, it’s my job to highlight as much good as possible.

In the post, Buy Real Estate For Capital Appreciation, Rental Income, or Lifestyle, I responded to one reader by mentioning potentially moving back into his rental for two years in order to take advantage of the $250,000 in tax free profits for a single person, or $500,000 in tax free profits for a married couple if he/they then sell within five years of moving back in.

Here’s a great response from reader, Yetisaurus,

Can Anyone Be An Accredited Investor? The Government Can’t Tell

Accredited Investor Equal AccessOne of the questions I asked in my accredited investor post is whether the current definition of accredited investor is fair or not. 61% of you voted that the Securities And Exchange Commission (SEC) should not dictate who can and cannot invest in private offerings. Only 31% of you said the definition is currently fair, while the other 8% voted the SEC should raise the income and net worth limits.

As expected, some people shared their frustration in the comments section.

Invest In Real Estate For Capital Appreciation, Rental Income, Or Lifestyle?

Park View PropertyDespite real estate ranking second to last in my Passive Income Rankings, don’t worry real estate fans, real estate still is my favorite asset class to build wealth.

One of the reasons why I love real estate is because of the utility it provides. I don’t buy real estate for rental income or capital appreciation. I buy real estate for improving my lifestyle first. If the property so happens to appreciate in value while I enjoy the place over the years, fantastic. If not, it doesn’t matter because I’ve derived tremendous satisfaction from all the property brings: location, view, amenities, and memories. Capital appreciation is just a bonus.

Money earned is best spent on improving your lifestyle. It may be fiscally prudent to hoard as much cash as possible for a rainy day. You might grow your wealth faster by buying multiple rental properties while you rent a piece of crap place to save money. But I find that to be a waste. There has to be a better balance when it comes to spending money. If you can spend money on an asset class that provides a better lifestyle and a chance for capital appreciation and rental income, you’re hitting triples and home runs!

How Low Interest Rates Increase The Value Of Income Producing Assets

Multiple Streams Of IncomeThere was surprisingly little debate regarding my passive income investment rankings. Figuring out the five factor scores for each of the seven investments took about 10 hours to produce, so perhaps I was thorough enough to address all the points. Everybody agreed that dividend investing is one of the best ways to generate passive income. The two main investments that had the most discussion were Real Estate and Creating Your Own Product.

The pushback on real estate investing is that it feels too much like work. When you’re trying to find the perfect tenant and keep up with property taxes, real estate can feel like a bear. Meanwhile, nobody disagreed with Creating Your Own Product as being a top passive income generating asset. However, I just didn’t get the sense that anybody really got motivated to start creating something.

In this short post, I want to demonstrate via some charts and logical reasoning the power of purchasing rental property and creating a product.

Ranking The Best Passive Income Investments

Passive Income Streams Allows You To Be Free

In order to relax, you must first work very, very hard!

After about the 30th day in a row of working 12+ hour days and eating rubber chicken dinners at the free cafeteria down at 85 Broad Street, I decided I had enough. There was no way I could last for more than five years working in a pressure cooker environment like Wall Street. I became obsessed with generating passive income starting in 1999.

We’ve discussed how to get started building passive income for financial freedom in a previous post. Now I’d like to rank the various passive income streams based on risk, return, and feasibility. The rankings are somewhat subjective, but they are born from my own real life experiences attempting to generate multiple types of passive income sources over the past 16 years.

The passive income journey is a long one. But thanks to innovation and technology, the ability to generate meaningful passive income is accelerating!

At What Cost Is Net Worth Diversification Worth It?

Net Worth DiversificationThe following is a guest post from Chris, a fella I met while stranded in Frankfurt, en route home from my business trip to Switzerland and Mallorca to do more research on the happiest countries in the world. Chris has a dilemma and could use the community’s help! – Sam

It was early evening when the airplane broke so the airline had to put up all of the passengers in a local hotel – to make matters challenging we were unable to get our checked luggage and had to survive on the contents of our carry-on bags. Upon entering the lobby I quickly noted that the hotel check-in line was 17 passengers deep so I decided to “wait” in the hotel bar (which was oddly empty) while my fellow, disgruntled travelers begged for rooms. Another fellow passenger noted the length of the queue and opted for the bar seat right next to me.

My bar partner and I got to drinking, laughing, and chatting about possibly catching a cab into town to procure clean under-garments – I don’t recall how long we sat at the bar, the check-in line was non-existent by the time we got room keys, my decision-making was “gin and tonic clouded” and I was happy that I chose to spend the time making a new friend instead of wasting time in a check-in line. My bar partner was Sam, he told me about his FS journey and I’ve been a regular visitor to the FS site since.