It occurred to me while writing my bestselling personal finance book, Buy This Not That, that a good percentage of you are HENRYs. A HENRY is a “high earner, not yet rich” consumer who is on the path to financial freedom. HENRYs mostly earn six-figure incomes who also save and invest aggressively. However, HENRYs often […]
Are You A HENRY? High Earners, Not Rich Yet Read More »
For the longest time, I’ve wondered whether Social Security is a dependable source of income for traditional retirees. As someone still over 22 years away from being able to collect, it’s hard to believe in the system given it is already underfunded by ~22%. Therefore, when the Social Security Administration announced the cost of living
Social Security Cost Of Living Adjustments: Keeping Up With Inflation Read More »
To contribute to a Roth IRA in 2023, single tax filers must have a modified adjusted gross income (MAGI) of $153,000 or less, up from $144,000 in 2022. If you make $138,000 or less, you can contribute the full maximum to a Roth IRA. However, if married and filing jointly, your joint MAGI must be under
A Roth IRA Conversion Is Probably A Waste Of Time And Money For Most Read More »
There’s a saying that goes something like this: To feel rich, take whatever you earn and triple it. Once you get there, triple it again. In other words, due to hedonic adaptation, it’s impossible to ever permanently feel rich! We all know that making a top 1% income or top 0.1% income means you are
When Do You Finally Feel Rich? It’s Not Always About The Money Read More »
The right asset-to-liability ratio is important if you want to retire comfortably or achieve financial independence. If your ratio is too low, you may stress too much about your finances because you have too much debt. If your ratio is too high, you might not be taking enough advantage of enough cheap debt to get
The Right Asset-To-Liability Ratio To Retire Comfortably Read More »
Given our primary residence is likely one of our largest assets, buying responsibly is prudent. At the same time, living a better lifestyle by owning a nicer home as we get wealthier is also something many people desire. Therefore, let’s try and figure out what our appropriate primary residence value should be as a percentage
Primary Residence Value As A Percentage Of Net Worth Guide Read More »
Today’s guest post is from Jim at Route To Retire, an early retiree. His family of three decided to leverage international geoarbitrage to start a brand new life in Panama. Jim is living a life that I eventually want to try once both our kids are old enough to remember their adventures (5+). If you’ve
Leverage International Geoarbitrage To Live A Better Life For Less Read More »
Imagine retiring by age 40. You may have to prepare for a 50-year retirement! Traditionally, the average American retires by age 65 and prepares for a 20-25-year retirement. However, with the median life expectancy increasing and more people desiring to retire earlier, we must plan for even more unknowns. Further, return assumptions for stocks, bonds,
Preparing For A 50-Year Retirement With Vanguard’s New Return Assumptions Read More »
Although I’m a DIY investor and encourage people to figure out how to invest themselves, there’s absolutely a place for hiring a financial advisor or investment manager. Back in 2015, I did some consulting for a startup called Motif Investing down in San Mateo. I remember talking with a person in marketing about what she
Strong Reasons For Hiring A Financial Advisor Or Investment Manager Read More »
The best way to achieve financial freedom is to make more money. You can only save so much on a capped income. And one of the best ways to make more money is to side hustle! No longer should we just rely on a day job to thrive. I’ve put together a list of the
20 Best Side Hustle Ideas To Make Extra Money Read More »
