As someone who wants to buy a new car this year, given my car is 10 years old, I’m having second thoughts. With the average new car price at ~$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 […]
Only The Rich (Or Fools) Can Afford To Buy New Cars Today Read More »
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 to a second family. We had originally
How Landlords Can Create Teachable Moments For Their Kids Read More »
Although it’s a bummer to hear about more layoffs as the economy slows, 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
How One Man Negotiated A $40 Million Mass Severance Package Read More »
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 2024 and 2025 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
Short-Term And Long-Term Capital Gains Tax Rates By Income Read More »
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! In order to generate passive income,
The Difference Between Active Income And Passive Income Read More »
As more people look to retire early, 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 different
The Amount Of Money Needed To Retire Early And Live In Poverty Read More »
Early retirement / FIRE is becoming obsolete and that’s a good thing! No longer do you have to grind as hard and save as much to quit your job ASAP and retire early. Today, you can find many better ways to earn a living, no matter your education level or current occupation. As a result,
Why Early Retirement / FIRE Is Becoming Obsolete Read More »
A 529 plan is one of the best generational wealth transfer vehicles. Instead of just giving our kids or grandchildren money, it’s way better to give them the gift of education. This way, the kids will learn how to fish instead of just be given a fish. Thanks to the SECURE Act 2.0, we will
Rolling Over Leftover 529 Funds Into A Roth IRA: Who Really Benefits? Read More »
I’ve finally discovered the best reason to retire early. A longer steady-state period of happiness. It has taken me 10 years of fake retirement to come up with this epiphany because I had to experience the process myself. In the past, I’ve written that early retirement isn’t all sunshine and rainbows. I went through plenty
The Best Reason To Retire Early: Years Of Greater Happiness Read More »
F you money. FU money. F*ck you money. It’s all the same. F You Money is having enough money to tell others to F Off without fearing financial repercussions. I’m sure some of you have dreamt of telling your annoying micromanager to F Off. But you can’t because you still want that raise and promotion.
Once You Have F You Money, It’s Hard To Tell Others To F Off! Read More »
