In 2023, the most significant shift in my financial landscape was the acquisition of a new vehicle, a decision that significantly impacted my savings. Ongoing supply chain disruptions from the pandemic had tightened vehicle inventory and inflated prices. The price gap between the used model and the new model I desired was minimal, leading me…
A good friend recently told me that when his father passed away, he had no will or a trust in place. As a result, for the past two years, my friend’s deceased father’s assets, including his properties, have been in the probate court system – across multiple states. The financial cost of attorney and court…
The best financial move I made in 2022 was transitioning to a much higher paying job at another company. This fueled a savings rate of 48% (not including retirement contributions). However, the Fed’s 2022 interest rake hikes to fight inflation did not bode well for my net worth on paper. My net worth decreased vs.…
Monthly cashflow, tax incentives, and owning a hard asset are some reasons why rental property has always been one of my top financial priorities. I’ve collected rent from tenants who were also my roommates. I’ve also rented-out single-family property while living out-of-state. However, given personal preference to reside in the San Francisco Bay area, I…
Due to the uncertainty surrounding the COVID-19 pandemic, a drop in oil prices, and fears of a recession, the early months of 2020 were a roller coaster for the stock market. But as Dave Ramsey says, you only get hurt on a roller coaster if you jump off half-way through the ride. I remained on…
Healthcare is expensive. In The Lifetime Medical Spending of Retirees report, economists noted that households incur an average cost of $122,000 in medical costs between the age of 70 and death. Most of this money is paid out of pocket, with the exception of low-income folks covered by Medicaid. One way to plan for expensive…
It’s valuable to approach investing holistically. Growing money is important, but so is growing in the areas of the spiritual, physical, educational, and recreational. The purpose of this post is to focus on fun memberships that enable couples/ friends/ families to enjoy time together while paying a flat membership fee. Other benefits include physical activity,…
Having tangible assets in my portfolio that are both practically useful (IE housing) and profitable investments (IE monthly cashflow) is what intrigues me about rental real estate. Through my post-college years, I lived in situations where my fellow roommates and I paid our landlord rent every month. I found this monthly arrangement smooth and simple,…
“Don’t wait to buy real estate, buy real estate and wait.” – T. Harv Eker I’ve lived in the expensive real estate markets of northern and southern California for most of my life. When I relocated to Denver, CO for work, I was able to purchase a home due to prices being affordable – virtually…
Before investing anything, getting out of consumer debt, saving-up a fully-funded emergency fund, and contributing 15% into retirement are the most prudent steps to take to financially thrive. After that, there’s freedom to deploy extra money in a variety of ways depending on your preferences and goals. Whether it’s a meager raise at work or…
“Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t… pays it.” – Albert Einstein This magical wonder of compound interest that amazed Einstein is available to millions of people today. Unfortunately, Americans are better spenders than they are savers. According to Fidelity, those aged 60-69 contribute…