Category: Personal Finance
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How to Get Out of the Rat Race: A Doctor’s Guide
How to Get Out of the Rat Race: A Doctor’s Guide Escaping the rat race often feels like a distant dream. But it’s more attainable than you might think. I’d never heard of the term “rat race” before until a few years of practicing dentistry. It’s a way of life where you’re caught in a…
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Lease vs Buy: Tax Benefits for Your New Car
Lease vs Buy: Tax Benefits for Your New Car When considering the financial impact of getting that new car for your business/practice, you may find yourself weighing the benefits of leasing versus buying. The choice can have significant tax implications that require careful examination before you make a decision. If you listen to Dave Ramsey,…
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Marshawn Lynch’s Wealth Secrets: Turning NFL Advice Into Financial Gain
Marshawn Lynch’s Wealth Secrets: Turning NFL Advice Into Financial Gain Despite earning high incomes during their careers, up to 78% (ouch) experience financial distress or bankruptcy within two years of leaving the league. Contributing factors include the average career length of roughly 3.3 years, extravagant spending habits, lack of financial education, poor investment decisions, and…
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Steps To Achieve Financial Freedom: A How-To Guide
Steps To Achieve Financial Freedom: A How-To Guide Financial freedom means having the ability to make choices without being held back by financial constraints. It involves understanding and managing your income, expenses, debts, and investments to achieve a level of financial stability where you can focus on other aspects of your life (like having fun!).…
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ChatGPT’s Ultimate Guide to Dominating Your 2024 Goals
ChatGPT’s Ultimate Guide to Dominating Your 2024 Goals Are you ready for 2024? Let me ask you a question. How many times have you witnessed people setting ambitious New Year’s resolutions only to see them dissolve quickly? All the time, right? Well, this year, I’ve decided to transform my approach to goal setting using ChatGPT’s…
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The Stock Market Mirage: Why Waiting Decades Won’t Make You Rich
The Stock Market Mirage: Why Waiting Decades Won’t Make You Rich In a world where financial advice is as common as unsolicited opinions on the weather, one piece of advice has been repeated so often it’s almost NEVER questioned: invest in the stock market, wait a few decades, and you’ll be rich. At least that…
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Financial Freedom vs Financial Independence: Key Differences
Financial Freedom vs Financial Independence: Key Differences Have you ever wondered about the difference between financial freedom and financial independence? These terms often get tossed around in personal finance discussions but aren’t the same. Financial independence (FI) is all about reaching a point where your passive income – money you earn without actively working for…
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How To Invest 100k For Passive Income: Proven Strategies
How to Invest 100K for Passive Income: Proven Strategies Investing $100,000 into smart investments can create a steady source of passive income. This means you can earn money without constantly working on it, giving you more free time. The aim is to grow your money safely to get regular income without constantly checking on it.…
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How To Get A Money Mindset For Financial Freedom
How To Get A Money Mindset For Financial Freedom Picture two friends with identical salaries. One travels, saves, and invests, while the other is always on the brink of a financial crisis. What sets them apart in their financial journeys? The answer often lies not in the numbers but in our beliefs and attitudes towards…
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Understanding Differences: Earned vs Passive vs Investment Income
Understanding Differences: Earned vs Passive vs Investment Income In the world of personal finance, understanding the different types of income is essential for developing a comprehensive financial strategy. Three primary types of income exist: earned income (active income) passive income investment income Each type of income offers distinct opportunities and challenges as individuals work to…
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What Does Shaq Own? From Five Guys to Reebok, A 2023 Review
What Does Shaq Own? From Five Guys to Reebok, A 2023 Review I’ve been a Shaquille O’Neal (Shaq) fan ever since watching him play basketball at LSU. Being from Louisiana, it was fun watching them have a good team besides football. The Orlando Magic drafted him in the 1992 NBA draft, and he quickly became…
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Health Savings Accounts: What Are the Pros and Cons of HSAs?
Health Savings Accounts: What Are the Pros and Cons of HSAs? The Health Savings Account (HSA) is often praised as an excellent solution for managing medical costs and boosting retirement savings, thanks to its significant tax advantages. When investing, you get triple tax benefits: 1) HSA contributions are made with pre-tax dollars, 2) medical expenses…
