Bear markets can be a nightmare for investors, and can be an incredible opportunity to build your wealth. As long as you have the right mindset, you can make an incredible amount of money during the next bear market. Bear markets occur when stock prices go down by 20% over at least 2 months. Imagine your net worth dropping by 20% tomorrow, and you can see why investors worry … [Read more...] about How to Make Money During the Next Bear Market
What is a Mega Backdoor Roth?
Shielding your income from taxes is a top priority as you make more money. Taxes are one of the largest wealth destroyers you'll face, and a mega backdoor Roth will help you shield more money tax-free. Mega backdoor Roths allow you to save as much as $37k every year tax-free, so you can imagine how much this adds up over several years. Below is a breakdown of the … [Read more...] about What is a Mega Backdoor Roth?
The Benefits of a High Cost of Living
My San Francisco rent always shocks my family in Wisconsin. Why would I live there, when I could afford a $600k house in Wisconsin for the same monthly payments? Do the benefits of a high cost of living city outweigh the cons by that much? After living in San Francisco and three other high cost of living cities for the past 10+ years, I can emphatically say that the benefits … [Read more...] about The Benefits of a High Cost of Living
How Much Income Does the Top 1 Percent Make?
As much as we hear about economic inequality and how much the top 1 percent makes in income, Americans are well off compared to the rest of the world. We rank 6th in the world with a median household income of roughly $44k, while the median household worldwide is $9.7k. Warren Buffett claims he won the ovarian lottery by being born in the United States, the country has … [Read more...] about How Much Income Does the Top 1 Percent Make?
How Marie Kondo Can Improve Your Finances
Marie Kondo has blown up thanks to showing off her KonMari method in the new Netflix show Tidying Up With Marie Kondo. The organizing consultant is traveling from home to home to help people tidy their lives. While Marie Kondo is focusing on homes, you can easily apply her methods to your finances as well. Applying the KonMari method will save you money by buying less stuff, … [Read more...] about How Marie Kondo Can Improve Your Finances