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Category: Advanced Investing

Hustle in your 20s to be financially independent in under 10 years

Hustle in your 20s to be financially independent in under 10 years

Sometimes it seems impossible to reach financial independence. That kind of thinking is wrong — you can easily do it in less than 10 years. You’re awake for 16 hours a day, 112 hours a week. What do you do with your time? Throwing around some numbers, it’s around an hour a day to eat, an hour at the gym 5 times a week to stay healthy and active, an hour a day for your commute, 8 hours a week…

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Tax Loss Harvesting for newer investors

Tax Loss Harvesting for newer investors

Every year, the IRS allows for $3,000 of tax losses on securities. Any losses higher than $3,000 are rolled into later years. But why would one want to have losses on their securities? We’re here to make money right? Well, some brilliant person many years ago realized that you could artificially have tax losses by buying and selling correlated pools of securities (ETFs, indexes, mutual funds). I’m 25, and plan on being FI/RE by 35. As a conservative assumption, I’ll…

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The average American can save $200k in management fees easily

The average American can save $200k in management fees easily

Have you ever looked at the management fees of your investments? For most people who glance at their statement, a fee of 1 percent doesn’t seem like much. It’s only 1 percent right? It’s going to cost you if you want to retire in less than 10 years, or any number of years. Get your financial future set up with these five other easy actions. Take a look at the VTSAX, the Vanguard Total Stock Market Index Fund, which has…

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Senate Tax Bill: How much will FIFO cost you?

Senate Tax Bill: How much will FIFO cost you?

There’s a portion of the new Senate Tax Bill that is terrible for retail investors, that most might not understand. It has to do with accounting methods applied to the selling of financial instruments. To start, cost basis is the purchase price for the security. You need to pay gains on your security when you sell it. If the purchase price for your security is different over time, you should always pick the highest price you paid for a security…

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Birds of a feather, let’s reach Financial Independence together!

Birds of a feather, let’s reach Financial Independence together!

I remember the first time learning about Financial Independence, Retire Early (FIRE). My SO had just casually dropped that he wanted to retire in 10 years. “Say what?”, I said, as I looked back at him. Turns out he had just convinced his SO to FIRE. FIRE – Financial Independence, Retire Early No one had ever said anything like that to me in my life. Everyone just worked until 65. They worked hard, and they accumulated wealth, but there wasn’t…

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