The purpose of this document is to explain and document my personal investing philosophy for the good times and bad. Further, I want to provide a benchmark and context for measuring my current investment choices and ensure my personal finance behavior is aligned with my stated goals. Investing Goals: Primary Goal – To build wealth …
On Friday, March 27, 2020, President Trump signed the coronavirus relief bill. The goal was to provide some relief and aid to certain impacted industries and American citizens who have been impacted by the economic shuttering caused by COVID-19. As part of the aid package, the plan calls for a one-time direct payment of $1,200 …
5 Smart Ways to Spend Your $1,200 Coronavirus Stimulus Check Read More »
If you have a qualified High-Deductible Healthcare Plan (HDHP), Health Savings Accounts (HSAs) are wonderful tools to save for future medical costs. With a HSA, your contributions are pre-tax (or tax deductible). Essentially, you won’t owe federal taxes on the income you contribute to the account. Further, you have the ability to invest your balance …
Should I Invest the Balance in my Health Savings Account (HSA) in 2020? Read More »
With the S&P 500 closing at record highs on January 2, 2020, my investment portfolio finally entered into six-figure territory! Achieving a $100,000 portfolio will by no means support my lifestyle. In fact, I’m still a long ways from achieving my first “mini-goal” of a million dollars and longer-term plans for financial independence. However, accumulating …
Achieving a $100,000 Investment Portfolio in 2020 at Age 27 Read More »
Americans have a special affinity for our vehicles. As crazy as it sounds, nearly 2/3 of Americans “love” the the time they spend in their car according to a Cars.com survey. Many of us listen to podcasts or audiobooks on our daily commutes. Alternatively, some of us just enjoy the solitude, peace, and quietness. In …
The accounting profession is often seen as the “red-headed stepchild” of the financial services world. Unlike the world of “high finance,” accountants tend to be much more conservative by their nature, in their work, and their lifestyles. Even though CPAs earn a respectable salary (median income of $120,000+), CPAs generally do not flaunt their wealth …
Can You Get Rich in Accounting as a CPA in 2023? Read More »
I’ve been saving for my emergency fund for quite awhile. While I have accumulated a fairly sizable portfolio for my age, the majority of my net worth is locked up in retirement accounts and other investments. Theoretically, I could tap my brokerage accounts in the event of an emergency. However, I decided it was time …
Opening a Wealthfront High-Yield Savings Account for My Emergency Fund in 2020 Read More »
An emergency fund represents cash reserves that help you cover inevitable but unanticipated expenses when “life happens.” Perhaps, your company decides to downsize and you lose your job. Maybe, you or your spouse fall ill and needs extended medical attention. Unfortunately, most Americans live paycheck to paycheck. In fact, nearly 26% of Americans do not …
Emergency Fund: The Basics of a Rainy Day Fund in 2023 Read More »
Unless you are familiar with the fitness world, “cutting,” “maintaining,” and “bulking” may not be part of your normal vocabulary. While fitness and finance may seem unrelated, there’s more similarities than you may initially think. Both physical fitness and personal finances come in waves. At times, you may find maintaining your workout regiment and diet …
Financial Fitness: Cutting, Maintaining, and Bulking Read More »
As CPAs, we understand that most of us think differently about money and finances. Perhaps, our schooling and daily work gives us a different perspective about the power of compounding interest. Maybe, our natural inclination that led us to the accounting profession leads us to be conservative in our lives. Often, accountants look to “game …
