Investments to Keep Out of Your Taxable Accounts Have you ever considered which types of investments you should hold in your taxable brokerage accounts vs. retirement accounts like your 401k, Roth and Traditional IRAs, etc.? The key is if you’re going to have certain investments in your overall portfolio, you want to hold them in …
Don’t Pay Fees to Buy Vanguard Mutual Funds at Other Brokerages I see many people in our community get obsessed with only buying “VTSAX” (Vanguard’s Total Stock Market Index Fund) because they’ve heard so much about it in the FI Community. This is a wonderful fund if you’re investing through Vanguard because Vanguard charges you …
Continue reading “January 16, 2024: Don’t Pay Mutual Fund Fees, Apps to Replace Mint, Being Present”
How Each State Taxes Retirees This article from Kiplinger, “Taxes in Retirement: How All 50 States Tax Retirees,” is a quick way to determine how your state (or future retirement destination) taxes income for retirees, including: · Income Tax on Taxable Income · Social Security · …
Net Worth Calculation for 2023 I think it’s important to track your net worth on at least a yearly basis (I track mine quarterly) and there’s no better time to start than right now at the start of the new year (Happy New Year!). Really simply: You can use a free app like Empower (formerly …
Year End Wins (Part 2) I received so many incredible ‘year end wins’ emails that I felt compelled to feature as many as possible these last two newsletters of the year. For some more year end inspiration, check out ChooseFI podcast Episode 468 ‘Year End Wins 2023’ that came out last week with 10+voicemails (and …
Continue reading “December 26, 2023: Year End Wins (Part 2)”
Year End Wins 2023 I was blown away by the quality and quantity of FI wins the community sent in this year, and to go along with ChooseFI podcast Episode 468 ‘Year End Wins 2023’ that dropped yesterday with nearly a dozen voicemails, I’m turning these last two newsletters of 2023 over to the community …
Continue reading “December 19, 2023: Year End Wins 2023 (Part 1)”
Pay in Full for a Discount Saw this great post from Cody Garrett in the Facebook group: “Are you paying for your auto insurance annually, semi-annually, or monthly? I just reviewed an auto policy that provides a 9% discount if paid annually rather than monthly. I’d take that guaranteed return!” It takes under 5 minutes …
Tribute to Charlie Munger Charlie Munger is the person I’ve quoted the most in this newsletter over the years, as his wisdom can help you live a “richer” life in every way. Charlie passed away last week at the age of 99, and in tribute to Charlie, I’m planning to read his book Poor Charlie’s Almanack again …
Travel Rewards Sweet Spot Examples Travel Rewards is one of our “Pillars of FI” as we think it is an easy way to take 1-2 nearly free vacations each year by using your smart credit card habits and opening targeted credit cards (here’s my Top 10 List that I keep constantly updated). Earning the points …
Donor Advised Funds, ChooseFI AI and Jonathan Returns Alan wrote in: “Could you discuss donor advised funds at some point? I am trying to figure out if something like this makes sense as a part of my overall FI plan. I would like philanthropy to be integrated into my strategy, but am wondering if the …
Continue reading “November 21, 2023: Donor Advised Funds, Amazon Savings, Essential FI Math”
Dave Ramsey’s 8% Withdrawal Rate is NOT Okay ChooseFI is a ‘positive vibes’ kind of place, but there are rare occasions where I see dangerous advice put out into the world by personal finance celebrities that needs to be responded to. This is one of those times: Dave Ramsey’s delusional rant recently in response to …
2024 Updated IRS Retirement Contribution Limits The IRS just released updated contribution account limits for 2024: Free Tool to Track Your Finances The Path to FI is all about action, and the very first action I recommend is: Write down all your assets and liabilities to get your net worth and all your income and …
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