Achieve Financial Freedom. Faster.
One of my financial goals this year is to grow my net worth. Come to think of it, growing my net worth has been part of my annual financial goals since day 1. The moment I graduated from college, all I wanted to do was to be able to have enough so that I can … Read more
I have a passion for personal finance. And I enjoy watching NFL football games immensely. It’s great when I can write about both football and personal finance in the same post. There is a reason why I named this blog Sport of Money. I believe personal finance and sports have many things in common. To … Read more
Managing a family with 3 school age kids, a full-time professional job, 25+ rental units, an investment portfolio made up of mutual funds, stocks, private equity investments and fixed income, and enough time to watch NFL games leave very little time for reflection about my personal financial past. But for all you great readers out … Read more
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
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
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
How much does it take to be middle class, upper middle class, and upper class in New York City? I think it is largely dependent on who you ask. We all know that New York City is a very expensive city. NYC is over twice as expensive to live in when compared to the national … Read more
Ever since I started work, I’ve been obsessed with achieving financial freedom. Because of this obsession, I constantly run different scenarios using retirement calculators to assess where I stand. Fortunately for me, my retirement calculation result has been very favorable despite the very challenging stock and crypto markets. I consider myself financially free if I … Read more