Achieve Financial Freedom. Faster.
Are you looking to sell stocks that have gone up in value but are afraid of the capital gains tax hit? There are ways to reduce your capital gains tax liability if you plan accordingly. Some approaches even allow you to avoid capital gains tax altogether. Each situation is different and the best approach is … Read more
Why do the rich get richer? The first million is the hardest as the old cliché goes. It’s a cliché because there is truth to it. Based on my own experience, I found this to be true. For me, the first million was the hardest. It was easier to make the second million than the … Read more
Note: This post is part 2 of a 2 part post examining the household budget of a family of 4 making $1 million a year. Given the level of detail I want to provide on their household expenditures, I’ve decided to break the post into 2 parts. This post contains discretionary and miscellaneous spending. Part … Read more
Are you interested in how a household with a $1,000,000 income spends its money? I put together a hypothetical budget for a household making $1,000,000 a year and how that amount might be spent. This is based partially on my own household budget with certain modifications to incorporate other high income families I know. Even … Read more
You don’t have to just take my word. As a native New Yorker, I believe New York City is the greatest city in the world. New York City topped the list of Kearney’s 2021 Global Cities Report. It’s been in the top spot for 5 years running. Therefore, it didn’t take much for my … Read more
When I started my professional career over 20 years ago, hitting the 6-figure income per year level was a goal of many. People would say to themselves “I’ve made it if I can get a job that pays over $100,000 annually”. While that is still the goal for some, the 6-figure mark isn’t what it … Read more
Achieving financial freedom isn’t an easy path. Only a select few can make it. 63% of Americans are living paycheck to paycheck according to a recent LendingClub report. Higher-income earners, those making more than $200,000, aren’t immune to living paycheck to paycheck as well. 28% of such higher-income earners live paycheck to paycheck. It isn’t … Read more
As a New York City parent, there are a few great debates I’ve had with my wife. First to come to mind: should we stay in New York City or move to the suburb? We opted to stay in Manhattan. Moving to the suburb was never a truly serious consideration – although we still debate … Read more
The United States of America is known as the land of opportunity. I believe anyone can do financially well in America. And Americans have done very well financially when compared to the rest of the globe. Americans dominate any global rich lists out there. Additionally, Americans are at the tip top of the wealth pyramid. … Read more
I work in the financial services industry. I was chatting with some junior associates one day about building a financial nest egg for the future and I mentioned that I have some crypto and NFT investments. This conversation happened in early 2021 before the crypto market crashed this year. One of the junior associates mentioned … Read more