When your primary financial goal is to retire early and become financially independent, sometimes it feels like you can only do so much. If you’re already maxing out your IRA and 401(k) every year, you might assume that you are left with only taxable accounts to invest your cash in. So let’s
One central question remains in the FI community for those who seek to retire early: How will I pay for healthcare? The triple tax benefits of an HSA are your answer. The fate of the US healthcare system is always up in the air. It’s not clear what the future
Utilizing an HSA (Health Savings Account) is a smart strategy to add to your overall nest egg. If that made your head spin while also totally exciting you, read on. We will discuss Health Savings Accounts to get you familiar with these FI-friendly accounts, and how to best utilize this
Most people have some experience investing through an IRA or 401k. They may even trade stocks in their spare time. It’s easy to assume that for the most part, managing one investment is much the same as any other. But a Health Savings Account (HSA) is a different animal. While
I used to attend “Broke University” where most of my financial decisions were short-sighted, based on what I could afford today and ultimately resulted in a poorer me. I couldn’t see past what I needed right now. It was survival mode always and I often borrowed from Peter to pay
Savings Rate is the most important factor to determine how long it’ll take you to reach financial independence. The higher your savings rate, the faster your path to Financial Independence. Find out everything you need to know about savings rate, and how to calculate your personal savings rate. This is
Financial Tracking Spreadsheets In early January I wrote that we all should do an annual financial audit to have a sense of where we are with our personal finances, both in terms of net worth (assets & liabilities) and your income statement (income & expenses). However, at that time I
Negotiating Your Salary One of the most pleasant surprises from our run of 500+ ChooseFI podcast episodes is how many people have listened to Episode 147 with Tori Dunlap and Episode 211 with Financial Mechanic and taken action to negotiate their salaries to great success. I try to include as many of
First of all, we want to apologize to our friends outside the United States. The cash optimization, debt demolition, and investment automation strategies discussed in this article work only within the USA. With that out of the way, let’s get to what you will get out of this article. We’re going to take
Four Day Work Week I was fascinated by this Twitter thread from Bolt CEO Ryan Breslow announcing that: “Bolt is now the first tech unicorn to permanently switch to a 4 day work week Our 3 month experiment proved every core thesis: Heightened 1/ Productivity2/ Engagement3/ Wellness” Breslow’s thread is worth a 3-minute
Help to Cut Down on Distractions Last week I included a Twitter thread (I’m on Twitter and would love for you to interact with me there) on how to get better at email. It focused mostly on keyboard shortcuts and processing emails quicker which is really helpful info, but I’d suggest two
2022 Limitations for 401k, IRA & HSA This week I came across an article from CNBC describing how the IRS increased the 401k contribution limits for 2022 plus one from Kiplinger’s on the 2022 HSA limits. While I suggest looking at both of them in more depth (especially if you’re 50 and older
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