FICA stands for Federal Insurance Contributions Act and consists of a Social Security tax and a Medicare tax. Social Security tax is 6.2% and Medicare tax is 1.45% for a combined FICA tax rate of 7.65%. FICA tax is very important for everyone to understand because so often we only think about federal tax rates […]
Maximum Taxable Income Amount For Social Security Tax (FICA) Read More »
There was a refinance BOOM in 2020 and 2021 because mortgage rates plummeted to all-time lows. Well-qualified borrowers are getting much lower rates than headline averages. Just be aware of a mortgage refinancing miscalculation that can prove to be costly: the lender taking forever. Let me tell you one of my favorite jokes. Elizabeth, Donald,
Beware Of A Mortgage Refinance Miscalculation That Could Be Costly Read More »
I only have two credit cards. A personal cash back rewards credit card and my Chase Ink Business Cash credit card. Any more cash back credit cards and my wallet starts getting too fat. When the wallet gets too fat, it’s hard to sit and type Financial Samurai articles. Then my world would start crumbling
The Best Type Of Credit Card To Own Is A Cash Back Credit Card Read More »
In 2020, I failed at early retirement and I want to share why. For background, I retired in 2012 at the age of 34 after working in investment banking at Goldman Sachs and Credit Suisse for 13 years. I also helped kickstart the modern-day FIRE movement in 2009, when I started writing about achieving financial
Why I Failed At Early Retirement: A Love Story Read More »
The Setting Every Community Up For Retirement (SECURE) Act recently passed and it will go into effect for all Americans in 2020. There is now the SECURE Act 2.0 for retirees to consider This article goes through the retirement benefit changes for the original SECURE Act. The goal of the SECURE Act is to make
How The SECURE Act Changes Your Retirement Planning Read More »
My theme for 2019 was: live the good life. This is my Financial Samurai 2019 review. After a raging bull market since 2009, I’ve started to get more comfortable spending more on a better life rather than always trying to save and invest as much as possible. 2018 was a bad year for the stock market.
Financial Samurai 2019 Year In Review: One Of The Best Read More »
Don’t fight inflation. It will beat you with a stick. Ride inflation by investing so you can beat it instead. Investing is the key to long term wealth. Inflation acts as a tailwind for your investment growth. I’m afraid there are a lot of anti-real estate people out there who are missing a crucial economic paradox that will
The Inflation Interest Rate Paradox: Why You Must Continuously Invest Read More »
SoFi life insurance is a relatively new player in the life insurance marketplace. With the coronavirus pandemic, the desire for affordable life insurance has really blown up. If you want an affordable term life insurance policy, I recommend getting free real quotes from PolicyGenius. PolicyGenius is my favorite life insurance market place that helps you
SoFi Life Insurance Review: No Medical Checkup For Qualifying Individuals Read More »
Merry Christmas and Happy Holidays Everybody! 2019 was a prolific year for Financial Samurai. There were over 200 posts and even more pages published. Blogging is like fishing in a big ocean. You’ve got to be patient. Most of the time you’ll catch nothing. But every once in a while, you’ll catch a big fish
The Best Financial Samurai Articles Of 2019 Read More »
If you want to reduce your stress, it’s good to adopt the “everything is rational” mantra. Once you believe that everything is rational, you’ll stop getting so frustrated and angry at things. You’ll also stop being so jealous of other people’s success. There’s a lot of messed up things in the world such as war,
Everything Is Rational – The Answer To All Things Irrational Read More »
