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Showing posts from December, 2020

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What a Joe Biden Presidency Means for Your Student Loans

on December 08, 2020

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Shopping for a Car: Lease, New, or Used?

If you've ever shopped for a car, you've probably debated how to find the best deal, and how to make sure you're getting the most car for your money. How does the math work out? What's the best use of your money when looking for a vehicle? Is it more cost effective to lease and have a lower monthly payment, buy a new car that will last for many years, or look for something used to avoid the instant depreciation from driving a new car off the lot? I'll dig into each option below with some examples to help explain the best use of your money. Let's take a look at an example for a 2020 Ford Escape SE 4 wheel drive (4WD). My wife and I have been debating getting a larger vehicle so we can haul more stuff around so that's why I chose an SUV for the example, but the principle is the same across all vehicles. I'll assume a timeline of 6 years for the total cost. That will amount to 2 leases, 5 years of new car payments, and 3 years of used car payments with bot

Why a Financial Planner Isn't for Me

For my friends who are financial planners and financial advisors, this is not meant to be a critique of you or your profession. I often still contemplate working towards my own CFP certification . This article is simply my expression of why I've always felt a disconnect from the standard advice of most financial planners and how I've realized that my goals are different than the vast majority seeking financial help. When looking at a financial planner, let's first start with a basic understanding of what a financial planner actually does. Generally, financial planners help clients understand their current financial situation, and help them navigate and differentiate the various investment options that can help them on their path to their financial goals. There are a several setups that financial planners generally use and they are compensated based on a few different structures: commissions, fee-based/hourly, assets under management. Commissions : The financial advisor rec

Billionaire Hedge Fund Manager, Stanley Druckenmiller Long Bitcoin

Many investors have speculated that bitcoin may develop into a "Gold 2.0," and have touted it's strengths as a long-term store of value, but there are also many billionaires and academics who don't see bitcoin as having any value. The truth has yet to play out, but in a recent conversation on CNBC, Stanley Druckenmiller, billionaire hedge fund manager and prior critic of bitcoin, stated that bitcoin could be an asset class and that he actually owns a small amount himself. And it certainly didn't go unnoticed. The significance of the worlds greatest and most respected money manager - Stan Druckenmiller saying just now that he is long bitcoin can not be overstated. That has removed every obstacle for any hedge fund or endowment to invest... #Bitcoin — Raoul Pal (@RaoulGMI) November 9, 2020 Billionaire Stan Druckenmiller casually mentions on CNBC that he has warmed up to #Bitcoin and now owns it. — Preston Pysh (@PrestonPysh) November 9, 2020 Bitcoin Bulls

Review of First Year as A Landlord

When managed correctly, owning a rental property can be a great source of secondary income. But there are tons of options when looking for areas to invest in, and owning property isn't completely passive, so I need to make sure that I'm actually getting a good return on my money. When looking at long-term investments, a year is really a short time period, but I have a good set of data, and a decent idea of the actual expenses for this property, so I can better project the income and expenses going forward. Through my first year as a landlord, I've lost both of my original tenants, found new tenants who were willing to pay $100 more each month in rent, fixed and replaced various appliances, and built a small cash reserve for future repairs and updates. In order to purchase my first rental property, a duplex, I needed just shy of $48,000. After 12 months, my total expenses are $19,226 and my total gross income is $24,659 which leaves me with a net profit of $5,433. Alone, t

Debt is Bad, Right? So Why Do I Have Almost $1 Million of it?

If debt is supposed to be so bad, why do I have almost $1 million in debt at 30 years old? How is someone as young as myself even able to amass that much debt? In this article, I'm going to walk through exactly how I amassed such a large amount of debt, and why I so comfortable with it. In fact, I'm not even afraid to leverage even more debt, if the right opportunity arises. As long as I continue progressing towards my goals , that's really all that matters. Here's a breakdown of all of my debt: $305,000 Student loan debt $275,000 Personal Home $207,000 Investment Property #1 $130,000 Investment Property #2 $13,000 0% Interest Credit Card From Wedding That comes out to $930,000 in total debt. If you include my wife's $180,000 in debt, then we're well over the million dollar mark as a couple. So why did I knowingly take out almost $1 million dollars in debt? Isn't debt supposed to be bad? How come I'm not more worried about this? The

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I am not a lawyer, financial adviser, or accountant. All content is purely for entertainment only.