By far one of the questions I get asked the most when it comes to retirement is: Should I do Roth (Post-tax) or Traditional (Pre-tax)? If you are going to be in the same tax bracket now vs when you retire, then it doesn't make any difference to do Pre-tax (traditional) or post-tax (roth). The difference matters if your tax bracket will change. The goal is to pay the least amount of taxes, so you want pay those taxes on your accounts when you are in the lowest tax bracket possible.... If you make less money now then what you project you will in retirement, do Roth and pay the taxes now. If you make more money now then what you project you will in retirement, do traditional and defer to paying the taxes later.
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In a world where everyone is giving their "predictions" about what the market will do, keep this in mind: Over time if you blindly "forecasted" the market is going to go up every year by it's historic average, you're accuracy would be better than the annual forecast of the top 20 market strategist from large Wall Street banks.
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"Don't risk what you don't have for something you don't need" - Psychology of Money by Morgan Housel
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Keep nothing except things that have meaning and purpose
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The things that scare you are the things that will change your life
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Productivity- At any given moment you are doing what you most want to be doing.
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Career satisfaction is often dependent on how much autonomy you have on the job. Look for the freedom to make decisions and move in directions that interest you, without too much control from the top.
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Happiness is your responsibility.
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If you don't know what you want to do with your time on earth you're not going to do much at all.
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"No matter how much money you make, your percentage habits will stay the same" - 101 Essays That Will Change The Way You Think. If you spend too much and save too little that will not change with increase of income. Build better spending and saving habits now.
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This channel is all about financial education. Answering common financial questions and solving financial problems. I do real calculations of what it takes to be financially successful and explain it as best I can.
We all have dreams and goals. The best way to achieve them is to learn everything you can about where you want to go and how to get there. I hope this channel can provide that for you.
29 July 2020