Here’s Journal Club 09-15-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!
- A tax-deferred account is one that you contribute with your pre-tax money, which grows in a tax-protected manner, and you owe taxes at the time of withdrawal. On that note, The White Coat Investor explains three types of investment accounts and emphasizes the importance of understanding tax-deferred accounts and how they could impact your retirement planning in the article – How to Think About a Tax-Deferred Account.
- Starting investing early in your career is crucial to attaining financial independence. It’s a no-brainer. Per the Banker on FIRE, in addition to investing early, growing your income, increasing your rate of savings, and investing in tax-efficient vehicles are equally essential for ensuring a smooth journey to financial freedom. And the author reminds us to steer clear of any investment ideas that seem to offer quick returns to build a secure financial future in the post – Running Late.
- The decision to rent or sell your existing home is a combination of financial calculations, risk tolerance, personal preference, and the hands-on responsibilities of being a landlord. Per the author of A Wealth of Common Sense, neither is a right or wrong answer. Both renting to build equity and selling to invest in the stock market have pros and cons. And the author discusses both scenarios in the article – The Pros & Cons of Owning a Rental Property.
- Attaining financial freedom through the FIRE movement is fundamental for achieving overall freedom. Would you agree? According to the author of Five Year FIRE Escape, money freedom allows us to pursue our desired lifestyle without being limited by financial constraints and offers greater autonomy and choice in life. And the author shares more about it in the post – You need FIRE to have FREEDOM. Prove Me Wrong.
Read any interesting articles? We’d love it if you could please take a moment to share them in the comments below!
Thank you for reading and sharing,
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.