The Economist put out an interesting chart highlighting how long it takes the median household income to earn one million dollars before tax. Have a look. Given the median US household income is roughly $68,000 in 2021, it will take roughly 14.7 years for the typical household to earn $1 million gross. That’s pretty good […]
How Long Will The Average Person Take To Earn $1 Million Around The World? Read More »
Instead of being so honorable and making money all by yourself, maybe you should get your parents to buy you everything as an adult. Life would be much easier this way. If I could do it all over again, I’m not sure I would have scrimped and sacrificed so much in order to come up with a $120,000 down payment
How To Get Your Parents To Buy You Everything As An Adult Read More »
Are you trying to decide between a 30-year fixed rate mortgage loan or an adjustable rate mortgage (ARM)? My opinion is that a 30-year fixed mortgage loan is a suboptimal mortgage that will cost you extra money. For most homeowners, getting a 7/1 ARM or 10/1 ARM is the better way to go. You will
30-Year Fixed Mortgage Loan Or An Adjustable Rate Mortgage (ARM)? Read More »
My estate planning lawyer said something interesting before I decided to hire her. “People who aren’t rich might need estate planning more than rich people because they might not be able to afford to pay probate fees in the case of an untimely death.“ Leave it to the US court system to make the distribution
Three Things I Learned From My Estate Planning Lawyer Everyone Should Do Read More »
Can you imagine scraping by on $500,000 a year? Well, believe it. Thousands of households living in expensive cities are running on this never-ending treadmill. It’s only when you can lock down expenses, save and invest aggressively, will you ever escape the rat race. They’ve got big mortgages, private school tuition to pay, and fancy
Scraping By On $500,000 A Year: Why It’s So Hard To Escape The Rat Race Read More »
The following is a guest post from a 25-year-old Financial Samurai reader who lives in Washington, DC, makes $55,000 a year and maxes out his 401(k). He believes maxing out your 401(k) is a choice on an average income. For those of you who feel like you can’t max out your 401(k), maybe this post
Maxing Out Your 401(k) Is A Choice On An Average Income: $55K In DC Read More »
The yield curve is a curve on a graph in which the yield of fixed-interest securities is plotted against the length of time they have to run to maturity. A yield curve is almost always upward sloping, a sign that the economy is functioning properly. To best understand the yield curve, put yourself in the
Understanding The Yield Curve: A Prescient Economic Predictor Read More »
Now that you’ve played defense and wisely refinanced your mortgage, it’s time to play offense and look for real estate purchase opportunities. This post will discuss the top states to buy real estate in 2022 and beyond. Real estate affordability is up because mortgage rates down. But mortgage rates are now creeping back up. The
Top States To Buy Real Estate In The New Decade Read More »
Great advice is priceless. It can change your mindset and open up many new opportunities. Back in 2001, the economy was imploding much like it was in 2008-2009. I was worried about losing my job and asked my mentor for advice. He told me something so important. My mentor gave me the best career advice. It has
The Best Career Advice From A Mentor Read More »
I dodged a bullet, Matrix style, and I didn’t even realize it until the coronavirus hit. The coronavirus pandemic has caused mortgage rates to drop as investors seek the safety of bonds. This post will highlight how to get the best mortgage rate. Had I not refinanced my primary residence mortgage before I bought a
For The Best Mortgage Rate, Refinance Before These Three Life Events Read More »
