Because YOLO is much better with FIRE
As a personal finance enthusiast, I’ve seen countless investors make one fundamental mistake: they put too many of their eggs in one basket. I get it. It’s intoxicating to believe you’ve found the one winning stock, the one hot sector, or the…
You may want to give a jump-start to your child’s credit history and financial health. One good way to help them out is by adding them as an authorized user on your credit card. This, generally is a two edge sword, giving…
We have discussed at length about Roth IRA and about the conversion of traditional IRA to Roth IRA. There are several benefits of conversion and in a low tax atmosphere, it becomes an interesting proposition for many. When you convert a 401(k)…
There are several ways of becoming a Millionaire. Some are easier and some are more difficult. The intent of this article is to identify what it really takes to become a Millionaire. There are several assumptions make in this article while trying…
A common concern for single-income earners is whether achieving FIRE is a feasible option for them or not. It definitely adds to the challenge a bit more but coming from a single-earner family myself, I can vouch that it is possible and…
I have spoken about Roth IRA before and its benefits. It is an amazing offering that allows one to park money for tax-free growth but doesn’t truly lock it away. The withdrawal of income is a handy safety net that allows access…
Different credit cards pull from different credit bureaus. In the age of information theft, it is better to block your credit profile at all three bureaus but in case you need to apply for a card, which one to unblock. Below is…
We have heard about Backdoor Roth and it is now a popular strategy. Even I have spoken about it as well as Mega Backdoor Roth before but there is one aspect that stumps most people interested in backdoor Roth approach and sometimes even makes the…
There is a strategy, not as common as backdoor Roth but allows in some cases up to 36,000 to be saved in Roth IRA in a year.
The IRS announced the contribution and income limits for the 2020 calendar year. For 2020, these limits are: Contribution Limits Unchanged The total amount you can contribute to either a Roth IRA or a Traditional IRA remains unchanged at $6,000. People 50 and…