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…
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…
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…
A Roth backdoor entry is a bypass to get around income limits to participate in Roth IRA. The other key aspect of this backdoor is that there are no conversion limits so you can convert any amount as long as it is…
I started my career in the US in an offshore based system integrator where a majority of the people working were on H1-B visas. The six years, that I worked there, I use to wonder why most of the expats in the…
Many HSA advocates recommend funding an HSA before an IRA. There are several reasons to recommend this strategy but is this a rule of thumb applicable to all? Let’s evaluate An HSA offers triple tax breaks. Money goes in rax-free, grows tax-deferred and withdrawals…