Don’t Miss Out, You’ll Regret It (Part 7)

Key Points

  • Housing, education, and healthcare costs continue to rise year after year.
  • The rise in these three categories of spending have outpaced other categories for many decades.
  • If this trend were to continue unabated, almost all household income will eventually end up going into these three buckets alone.
  • This path is unsustainable on many levels. Yet, for now there are government programs out there that can help soften the blow. Not ideal, but better than nothing.

Continue reading “Don’t Miss Out, You’ll Regret It (Part 7)”

Don’t Miss Out, You’ll Regret It (Part 5)

Key Points

  • The best way to grow wealth is to never pay any taxes.
  • The simplest way to accomplish this is to take advantage of tax-advantaged investment accounts.
  • The most common such accounts offered by the U.S. Government are the individual retirement accounts or IRAs.
  • There are two flavors. The Traditional IRA is funded with pre-tax contributions, but earnings are taxed at an individual’s marginal tax rate at retirement.
  • The Roth IRA is funded with post-tax contributions, and the earnings are not taxed at all at retirement.    Continue reading “Don’t Miss Out, You’ll Regret It (Part 5)”