The 401k maximum employee contribution is $22,500 for 2023 and will likely go up by $500 a year every couple of years. Given the median household income is roughly $75,000, a household has to contribute 30% of their gross income to contribute the maximum. That’s not easy to do, which is why I want to share […]
Strategies For Contributing The Maximum To Your 401k Each Year Read More »
The majority of us are middle class, defined as neither rich nor poor. Seriously, that’s the official definition of middle class, because depending on who you talk to and where they live, you’ll get different answers. A $50,000 household income for a family of four is absolutely middle class in Des Moines, Iowa. However, in
What’s A Middle-Class Income? Bet You Don’t Know! Read More »
Are you miserable at work? If so, you’re probably wondering when is the right time to quit your job and do something new. The pandemic has encourage more people to quit their jobs and do something they really want to do with their one and only lives. I always imagine a baby panda dies in
When Is The Right Time To Quit My Job And Do Something New? Read More »
Over the years, many readers have asked, “What does it take to become a Financial Samurai? Do you have a set of core principles to follow?” I resisted putting anything formal together because to do so felt a little bit arrogant and presumptuous. But after 15+ years of running Financial Samurai and having over 1,000
Way Of The Financial Samurai: Core Principles For Achieving Financial Independence Read More »
Affirmative action based on income instead of race might be something for all of us to consider. There are poor White and Asian people in America as well. In the fight for racial justice, we should consider all races. Why Affirmative Action Matters Jamestown, Virginia was the first permanent English settlement established in 1607. Their
How About Affirmative Action Based On Income Instead Of Race? Read More »
According to the Federal Reserve’s Survey of Consumer Finances, the average US household net worth is a whopping $692,100! And that’s based on data from 2016, when the stock market and real estate markets were much lower. Thanks to a bull market in stocks, real estate, Bitcoin, and other risk assets, the average house net
The Average Household Net Worth In America Is Huge! Read More »
Can you imagine having a 529 child millionaire? With the cost of education continuing to skyrocket, creating a 529 child millionaire might be a necessity for parents with children under five nowadays. By the time kids go to college in 15-18 years, it may very well cost $1 million for all four years! With regular
The Making Of A 529 Child Millionaire: A Necessity Due To Soaring Tuition Read More »
There have been a number of data points recently that have caught me off guard. Apparently, there are people in this world who actually work 40 hours a week or less and complain why they can’t get ahead! I understand the complaining if you are a student, have a disability, doing heavy manual labor, or
Joining startups will likely make you poorer, not richer. Let me explain as someone who has lived in the startup capital of the world, San Francisco, since 2001. I have literally met thousands of people who have joined startups and less than 10% of them got rich. I’m talking a top 1% net worth. Several
Joining Startups Will Probably Make You Poorer Rather Than Richer Read More »
2020 may have been the hardest year of my life. I was the sole income-earning parent with two young children to feed. Here’s how to survive the pressure as a sole income-earning parent. Much has been written about offering more support and empathy for the stay at home parent who gives up his or her
How To Survive The Pressure As A Sole Income-Earning Parent Read More »
