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Top 8 Posts of 2017

Top 8 Posts of 2017

Though this blog is a baby bird still in its nest, I still want to celebrate the wins this blog has had over the past year! So here’s a list of the top 8 posts of 2017 :). Enjoy! 1. Hustle In Your 20s To Be Financially Independent In Under 10 Years I did the math behind how much faster you could retire if you took up a side hustle. There’s a limit to how much you can save on…

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8 Tips for Creating Your Own Financial Luck

8 Tips for Creating Your Own Financial Luck

1. Know the Market Price There are a ton of people who go out to yard sales, thrift stores, and estate sales and buy things for incredibly cheap prices, and turn around and sell it on eBay, Amazon, etc. When most people hear their story, they say things like,”Oh, they must be incredibly lucky! That kind of thing never happens to me!” First of all, this is a defeatist attitude. Second of all, the reason they can do this is…

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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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Senate Tax Bill: How much will FIFO cost you?

Senate Tax Bill: How much will FIFO cost you?

*UPDATE: The bill passed without the FIFO restriction, but the article is still useful in understanding different tax implications for accounting. 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…

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