FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE! The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE? Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHICH STATES ARE BEST FOR RETIREMENT? Are you wondering which states are best for retirement? As a retiree since 2012 let me share the best states for retirement based on taxes, weather, and lifestyle. My method for calculating the best states for retirement are objective and intuitive. In retirement, you want to live in a place that has reasonable taxes. Every day, you'd love to go outside and enjoy nature. Further, you'd love to IS FIVE MILLION DOLLARS ENOUGH TO RETIRE COMFORTABLY OR EARLY? Are you wondering is five million dollars enough to retire comfortably? Five million dollars is a lot of money. But depending on where you live, when you retire, and how many dependents you have, five million dollars may not be enough to retire comfortably. Today, $3 million is the new $1 million, largely due to inflation. Therefore, five million dollars is more like having $1.7 million back WHAT HAPPENED TO TIGER MOM AMY CHUA'S KIDS? Back in 2011, Amy Chua, Yale law professor and mother of two grade school children, penned an incredibly fascinating article entitled, “Why Chinese Mothers Are Superior” on the WSJ. Professor Chua was a first generation American who went to Harvard undergrad and then to Harvard Law School. As a tenured professor teaching at one of the most prestigious law schools in the world, I feel for CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties HOW DO MILLIONAIRES AND BILLIONAIRES AVOID ESTATE TAXES? Ever wonder how multi-millionaires and billionaires avoid paying estate taxes when they die? After all, the current estate tax exemption threshold is only $11.58 million per person in 2020 and every dollar passed down after that is taxed at a 40% rate. The secret to how America's wealthiest households create dynasties and pay less estate taxes than they should is through the Grantor Retained HOW DOES A DEATH OR SUICIDE AFFECT A PROPERTY'S PRICE Unfortunately, a death or suicide usually has a negative affect on a property's price. Let's review how much of a negative impact a death on premises may have. Buying A Property Prudently Buying a property is a very emotional experience. In this current competitive environment where inventory is low and demand is strong, it's often a good idea to write a letter to help ingratiate yourself to HOW MUCH SHOULD I HAVE IN MY 401K AT 60 FOR RETIREMENT? Congratulations for reaching 60! You can now withdraw from your 401k penalty free if you wish. And if you aren't 60 yet, then hang in there. This post will answer your question: How much should I have in my 401k at age 60. The goal is for you to live a good retirement life and not have to worry about money. The above average 60 year old should have at least $800,000 in their 401k if they've

FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE! The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE? Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHICH STATES ARE BEST FOR RETIREMENT? Are you wondering which states are best for retirement? As a retiree since 2012 let me share the best states for retirement based on taxes, weather, and lifestyle. My method for calculating the best states for retirement are objective and intuitive. In retirement, you want to live in a place that has reasonable taxes. Every day, you'd love to go outside and enjoy nature. Further, you'd love to IS FIVE MILLION DOLLARS ENOUGH TO RETIRE COMFORTABLY OR EARLY? Are you wondering is five million dollars enough to retire comfortably? Five million dollars is a lot of money. But depending on where you live, when you retire, and how many dependents you have, five million dollars may not be enough to retire comfortably. Today, $3 million is the new $1 million, largely due to inflation. Therefore, five million dollars is more like having $1.7 million back WHAT HAPPENED TO TIGER MOM AMY CHUA'S KIDS? Back in 2011, Amy Chua, Yale law professor and mother of two grade school children, penned an incredibly fascinating article entitled, “Why Chinese Mothers Are Superior” on the WSJ. Professor Chua was a first generation American who went to Harvard undergrad and then to Harvard Law School. As a tenured professor teaching at one of the most prestigious law schools in the world, I feel for CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties HOW DO MILLIONAIRES AND BILLIONAIRES AVOID ESTATE TAXES? Ever wonder how multi-millionaires and billionaires avoid paying estate taxes when they die? After all, the current estate tax exemption threshold is only $11.58 million per person in 2020 and every dollar passed down after that is taxed at a 40% rate. The secret to how America's wealthiest households create dynasties and pay less estate taxes than they should is through the Grantor Retained HOW DOES A DEATH OR SUICIDE AFFECT A PROPERTY'S PRICE Unfortunately, a death or suicide usually has a negative affect on a property's price. Let's review how much of a negative impact a death on premises may have. Buying A Property Prudently Buying a property is a very emotional experience. In this current competitive environment where inventory is low and demand is strong, it's often a good idea to write a letter to help ingratiate yourself to HOW MUCH SHOULD I HAVE IN MY 401K AT 60 FOR RETIREMENT? Congratulations for reaching 60! You can now withdraw from your 401k penalty free if you wish. And if you aren't 60 yet, then hang in there. This post will answer your question: How much should I have in my 401k at age 60. The goal is for you to live a good retirement life and not have to worry about money. The above average 60 year old should have at least $800,000 in their 401k if they've A 15-YEAR MORTGAGE IS PROBABLY BEST, BUT IT HAS ONE BIG Out of all the mortgages out there, a 15-year mortgage will likely save you the most amount of interest. 15-year mortgage rates are almost always lower than 30-year fixed mortgage rates. Further, because the mortgage fully amortizes across a 15-year duration, you will likely pay off your mortgage sooner than if you had a 30-year amortizing mortgage. Ever since I purchased my first property in REFLECTIONS ON MAKING MONEY ONLINE SINCE 2009 Financial Samurai has technically been making money online since it started in July 2009. I think the site made $3 the second month the site was live. Whoo-hoo! Although I didn't focus on making money online, the site began to generate revenue anyway. Do something you love and the money will follow right? By the time 2012 rolled around, I figured with the combination of my investment income BILL GATES IS BUYING UP FARMLAND: 5 REASONS TO INVEST AS WELL Bill Gates has taken on many roles over the course of his career: affable tech nerd, aloof billionaire, tennis player, visionary philanthropist. Recently, he and soon-to-be-ex wife Melinda Gates added a new title to that list: largest owners of US farmland. One way to get rich is to observe what rich people do with their money. Therefore, I think you'll enjoy this look into why Bill Gates is MANAGE SUBSCRIPTIONS PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE NET WORTH FOR A 50 YEAR OLD IN AMERICA In 2021, the average net worth for a 50 year old in America is around $150,000. But the average net worth for an above average 50 year old is around around $1,250,000. The above average 50 year is someone who works hard, savings at least 20% of their money each year, invests, and cares about their personal finances. The above average 50 year old is a subscriber of free personal finance STUDENT HOUSING AS A REAL ESTATE INVESTMENT: WHAT YOU NEED Student housing as a real estate investment is one of the most attractive investments before the 2020 coronavirus pandemic. Once there is a vaccine, and schools open back up, student housing will once again be a very popular commercial real estate investment. In the past, college students would simply live on campus. Sometimes they'd live at home to save money and commute. HOW DO MILLIONAIRES AND BILLIONAIRES AVOID ESTATE TAXES? Ever wonder how multi-millionaires and billionaires avoid paying estate taxes when they die? After all, the current estate tax exemption threshold is only $11.58 million per person in 2020 and every dollar passed down after that is taxed at a 40% rate. The secret to how America's wealthiest households create dynasties and pay less estate taxes than they should is through the Grantor Retained REAL ESTATE CROWDFUNDING OR REITS? WHICH IS A BETTER WAY Real estate crowdfunding or REITs? This is a question many savvy real estate investors are considering post pandemic. With interest rates so low, the demand for real estate has gone way up. It also takes a lot more capital to generate the same amount of risk-adjusted income. Why should an investor invest in a real estate crowdfunding platform like CrowdStreet or Fundrise instead of a Real THE HEALTH BENEFITS OF EARLY RETIREMENT ARE PRICELESS There are many benefits of early retirement. Full control of your time is often the most cited benefit. However, the health benefits of early retirement are priceless. Without our health, we have nothing. Our goal should be to retire while we are healthy! Mance Rayder, The King Beyond The Wall once said, “The freedom to make my own mistakes is all I ever wanted.” After leaving Corporate WHY DO DOG OWNERS LET THEIR DOGS BARK SO MUCH? I personally cannot stand dogs who bark non-stop. Those small dogs with the incessant high-pitched yelping sounds are the worst. As someone who works from home four days a week as a writer, having a dog bark all day really ruins my concentration. The dogs barking also make me wonder whether they are OK. But when the dogs continue to bark after 6 pm, I start wondering whether the owner is OK.

FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE!CANADIAN HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD INCOME IN ONTARIOCANADIAN AVERAGE HOUSEHOLD INCOME2020 HOUSEHOLD NET WORTHFEDERAL RESERVE HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD ASSETS The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE?PAYING CASH FOR HEALTH SERVICESPAYING CASH FOR MEDICAL SERVICES Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHERE TO FIND THE BEST REAL ESTATE SYNDICATION DEALS Real estate is one of the best asset classes to build long term wealth. Unlike stocks, real estate just doesn't go *poof* in one violent downturn. Finding a great real estate syndication deal takes time, but they are out there thanks to new online real estate crowdfunding platforms. Real estate is a physical asset that generates

cash flow (rents).

SUZE ORMAN IS RIGHT: YOU NEED $5 MILLION OR MORE TO RETIRE Suze Orman is right. In order to retire early, you need at least $5 million in investable assets. With interest rates so low, it taks a lot more capital to generate the same amount of risk-adjusted income. Before the coronavirus pandemic, there was maximum Fear Of Missing Out (FOMO) with the Financial Independence Retire Early (FIRE) movement. CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

CAN YOU RETIRE COMFORTABLY ON ONLY TWO MILLION DOLLARS? Are wondering if you can retire comfortably on only two million dollars? It's possible, but it's becoming more difficult due to the collapse in interest rates. It takes a lot more capital to generate the same amount of risk-adjusted income. In my opinion $3 million is the new $1 million due to inflation. Therefore, two million dollars is like having only $500,000. ALEXANDRIA OCASIO-CORTEZ'S NET WORTH IS HIGHER THAN YOU THINK Alexandria Ocasio-Cortez is the rising star in the Democratic party. The 31-year old self-proclaimed 'Democratic Socialist' and former bartender is New York’s 14th Congressional District for 2021 and beyond. This post looks at Alexandria Ocasio-Cortez's net worth. AOC, for short, is the third most popular US politician on Twitter after Barack Obama and President Trump. PLUG AND PATCH OR REPLACE TIRE? DEPENDS ON THE PUNCTURE Tires can get very expensive. I drive a Range Rover Sport with 22-inch, low-profile tires that cost ~$450 after-tax to replace. So when I got a nail in one of my tires, I was perplexed. Plug, patch, or replace tire? Luckily for you and most others, tires generally cost under $200 each to replace, and more like closer to $150. With the average tire size closer to 16-inches, there's a lot more

FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE!CANADIAN HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD INCOME IN ONTARIOCANADIAN AVERAGE HOUSEHOLD INCOME2020 HOUSEHOLD NET WORTHFEDERAL RESERVE HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD ASSETS The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE?PAYING CASH FOR HEALTH SERVICESPAYING CASH FOR MEDICAL SERVICES Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHERE TO FIND THE BEST REAL ESTATE SYNDICATION DEALS Real estate is one of the best asset classes to build long term wealth. Unlike stocks, real estate just doesn't go *poof* in one violent downturn. Finding a great real estate syndication deal takes time, but they are out there thanks to new online real estate crowdfunding platforms. Real estate is a physical asset that generates

cash flow (rents).

SUZE ORMAN IS RIGHT: YOU NEED $5 MILLION OR MORE TO RETIRE Suze Orman is right. In order to retire early, you need at least $5 million in investable assets. With interest rates so low, it taks a lot more capital to generate the same amount of risk-adjusted income. Before the coronavirus pandemic, there was maximum Fear Of Missing Out (FOMO) with the Financial Independence Retire Early (FIRE) movement. CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

CAN YOU RETIRE COMFORTABLY ON ONLY TWO MILLION DOLLARS? Are wondering if you can retire comfortably on only two million dollars? It's possible, but it's becoming more difficult due to the collapse in interest rates. It takes a lot more capital to generate the same amount of risk-adjusted income. In my opinion $3 million is the new $1 million due to inflation. Therefore, two million dollars is like having only $500,000. ALEXANDRIA OCASIO-CORTEZ'S NET WORTH IS HIGHER THAN YOU THINK Alexandria Ocasio-Cortez is the rising star in the Democratic party. The 31-year old self-proclaimed 'Democratic Socialist' and former bartender is New York’s 14th Congressional District for 2021 and beyond. This post looks at Alexandria Ocasio-Cortez's net worth. AOC, for short, is the third most popular US politician on Twitter after Barack Obama and President Trump. PLUG AND PATCH OR REPLACE TIRE? DEPENDS ON THE PUNCTURE Tires can get very expensive. I drive a Range Rover Sport with 22-inch, low-profile tires that cost ~$450 after-tax to replace. So when I got a nail in one of my tires, I was perplexed. Plug, patch, or replace tire? Luckily for you and most others, tires generally cost under $200 each to replace, and more like closer to $150. With the average tire size closer to 16-inches, there's a lot more THE BOOT: A SMART SOLUTION TO SPENDING MORE MONEY GUILT-FREE As a lifelong saver, it has been hard for me to spend more money and live it up. It didn't matter whether I got a raise or made a profitable investment, the extra money would almost always get reinvested. The Boot is a concept I came up with to help us spend money more freely. The fear of being trapped in a job I disliked was far greater than the fear of missing out on nice things or

experiences.

YOU WILL ALWAYS GET SCREWED: ACCEPT LIFE ISN'T FAIR FOR Please know that you will always get screwed. If you don't get screwed now, you will eventually get screwed later. The sooner you accept life isn't fair, the sooner you can make winning decisions and succeed. Finding happiness is also accepting that fairness is a human construct. If you plan to play someone else's game, then you must accept the game will likely be rigged in their favor, no THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

IS FIVE MILLION DOLLARS ENOUGH TO RETIRE COMFORTABLY OR EARLY? Five million dollars is a lot of money. But depending on where you live, when you retire, and how many dependents you have, five million dollars may not be enough to retire comfortably. Today, $3 million is the new $1 million, largely due to inflation. Therefore, five million dollars is more like having $1.7 million back in the 1980s or earlier. WHICH STATES ARE BEST FOR RETIREMENT? Are you wondering which states are best for retirement? As a retiree since 2012 let me share the best states for retirement based on taxes, weather, and lifestyle. My method for calculating the best states for retirement are objective and intuitive. In retirement, you want to live in a place that has reasonable taxes. Every day, you'd love to go outside and enjoy nature. Further, you'd love to MANAGE SUBSCRIPTIONS PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. WHAT PERCENT OF AMERICANS OWN STOCKS? The next 40 percent owned $132,000 on average. For the bottom half of families, it was just under $54,000. In terms of what percent of Americans own stocks, the answer is about 52%, down from a high of 66% in 2007. We’ve seen a massive rise in the S&P 500 since 2009, meaning that serious wealth has been made by the wealthiest of

Americans.

CLOSING COSTS WHEN PAYING ALL CASH FOR A HOME Paying all cash for a home is one of the best ways to get a great deal on a property. With all cash, a buyer can make a no-financing contingency offer that is much more attractive to the seller. A financing contingency and an inspection contingency are the two main reasons why deals fall apart. This post will highlight all the closing costs when paying all cash for a home. RECOMMENDED 529 PLAN AMOUNTS BY AGE: CAREFUL SAVING TOO MUCH From a financial perspective, one of the best things to come out of the coronavirus-induced market meltdown is being able to contribute to your children's 529 plans at lower index prices. Let us dig deep into the recommended 529 plan amounts by age. Given parents are investing for an expense that might not occur for another 10-18 years, it's easier to invest in a 529 plan during times of turmoil. HOW MUCH SHOULD I HAVE IN MY 401K AT 50? The average 401k amount by age 50 is about $150,000. But for the above average 50 year old, he or she should have between $500,000 – $1,200,000 in his or her 401k. After all, the above average 50 year old has been able to save and invest for at least 25 years in the greatest bull market of all time. The above average 50 year old is a

personal

FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE!CANADIAN HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD INCOME IN ONTARIOCANADIAN AVERAGE HOUSEHOLD INCOME2020 HOUSEHOLD NET WORTHFEDERAL RESERVE HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD ASSETS The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE?PAYING CASH FOR HEALTH SERVICESPAYING CASH FOR MEDICAL SERVICES Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHERE TO FIND THE BEST REAL ESTATE SYNDICATION DEALS Real estate is one of the best asset classes to build long term wealth. Unlike stocks, real estate just doesn't go *poof* in one violent downturn. Finding a great real estate syndication deal takes time, but they are out there thanks to new online real estate crowdfunding platforms. Real estate is a physical asset that generates

cash flow (rents).

SUZE ORMAN IS RIGHT: YOU NEED $5 MILLION OR MORE TO RETIRE Suze Orman is right. In order to retire early, you need at least $5 million in investable assets. With interest rates so low, it taks a lot more capital to generate the same amount of risk-adjusted income. Before the coronavirus pandemic, there was maximum Fear Of Missing Out (FOMO) with the Financial Independence Retire Early (FIRE) movement. CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

CAN YOU RETIRE COMFORTABLY ON ONLY TWO MILLION DOLLARS? Are wondering if you can retire comfortably on only two million dollars? It's possible, but it's becoming more difficult due to the collapse in interest rates. It takes a lot more capital to generate the same amount of risk-adjusted income. In my opinion $3 million is the new $1 million due to inflation. Therefore, two million dollars is like having only $500,000. ALEXANDRIA OCASIO-CORTEZ'S NET WORTH IS HIGHER THAN YOU THINK Alexandria Ocasio-Cortez is the rising star in the Democratic party. The 31-year old self-proclaimed 'Democratic Socialist' and former bartender is New York’s 14th Congressional District for 2021 and beyond. This post looks at Alexandria Ocasio-Cortez's net worth. AOC, for short, is the third most popular US politician on Twitter after Barack Obama and President Trump. PLUG AND PATCH OR REPLACE TIRE? DEPENDS ON THE PUNCTURE Tires can get very expensive. I drive a Range Rover Sport with 22-inch, low-profile tires that cost ~$450 after-tax to replace. So when I got a nail in one of my tires, I was perplexed. Plug, patch, or replace tire? Luckily for you and most others, tires generally cost under $200 each to replace, and more like closer to $150. With the average tire size closer to 16-inches, there's a lot more

FINANCIAL SAMURAI

PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. THE AVERAGE CANADIAN HOUSEHOLD NET WORTH IS HUGE!CANADIAN HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD INCOME IN ONTARIOCANADIAN AVERAGE HOUSEHOLD INCOME2020 HOUSEHOLD NET WORTHFEDERAL RESERVE HOUSEHOLD NET WORTHAVERAGE HOUSEHOLD ASSETS The average Canadian household net worth is surprisingly huge at roughly $680,000 in 2020, up from $400,151 in 2012 according to Statistics Canada. The average Canadian household net worth is roughly 2X the average U.S. household net worth. When you think of Canada, what do you think? I think wonderful skiing in Whistler, hockey, maple leaves, free healthcare, cold weather, Hong Kongnese HOW DO EARLY RETIREES GET AND PAY FOR HEALTH INSURANCE?PAYING CASH FOR HEALTH SERVICESPAYING CASH FOR MEDICAL SERVICES Thinking of retiring under the Biden administration? It's not a bad bet given taxes are going up and there is going to be a wider social safety net. However, how do early retires get and pay for health insurance? After all, health insurance is expensive. My family of four personally pays $2,300/month for unsubsidized health insurance. And its cost goes up at last 5% a year. WHERE TO FIND THE BEST REAL ESTATE SYNDICATION DEALS Real estate is one of the best asset classes to build long term wealth. Unlike stocks, real estate just doesn't go *poof* in one violent downturn. Finding a great real estate syndication deal takes time, but they are out there thanks to new online real estate crowdfunding platforms. Real estate is a physical asset that generates

cash flow (rents).

SUZE ORMAN IS RIGHT: YOU NEED $5 MILLION OR MORE TO RETIRE Suze Orman is right. In order to retire early, you need at least $5 million in investable assets. With interest rates so low, it taks a lot more capital to generate the same amount of risk-adjusted income. Before the coronavirus pandemic, there was maximum Fear Of Missing Out (FOMO) with the Financial Independence Retire Early (FIRE) movement. CLOSING COSTS WHEN PAYING CASH FOR A PROPERTY Although paying cash for a property saves you money in terms of closing costs because you cut out fees associated with the lender, you've still got to pay various fees to protect your purchase. This article will go through in detail all the closing costs when paying cash for a property. Closing costs for the seller and the buyer is the main reason why people should hold onto their properties THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

CAN YOU RETIRE COMFORTABLY ON ONLY TWO MILLION DOLLARS? Are wondering if you can retire comfortably on only two million dollars? It's possible, but it's becoming more difficult due to the collapse in interest rates. It takes a lot more capital to generate the same amount of risk-adjusted income. In my opinion $3 million is the new $1 million due to inflation. Therefore, two million dollars is like having only $500,000. ALEXANDRIA OCASIO-CORTEZ'S NET WORTH IS HIGHER THAN YOU THINK Alexandria Ocasio-Cortez is the rising star in the Democratic party. The 31-year old self-proclaimed 'Democratic Socialist' and former bartender is New York’s 14th Congressional District for 2021 and beyond. This post looks at Alexandria Ocasio-Cortez's net worth. AOC, for short, is the third most popular US politician on Twitter after Barack Obama and President Trump. PLUG AND PATCH OR REPLACE TIRE? DEPENDS ON THE PUNCTURE Tires can get very expensive. I drive a Range Rover Sport with 22-inch, low-profile tires that cost ~$450 after-tax to replace. So when I got a nail in one of my tires, I was perplexed. Plug, patch, or replace tire? Luckily for you and most others, tires generally cost under $200 each to replace, and more like closer to $150. With the average tire size closer to 16-inches, there's a lot more THE BOOT: A SMART SOLUTION TO SPENDING MORE MONEY GUILT-FREE As a lifelong saver, it has been hard for me to spend more money and live it up. It didn't matter whether I got a raise or made a profitable investment, the extra money would almost always get reinvested. The Boot is a concept I came up with to help us spend money more freely. The fear of being trapped in a job I disliked was far greater than the fear of missing out on nice things or

experiences.

YOU WILL ALWAYS GET SCREWED: ACCEPT LIFE ISN'T FAIR FOR Please know that you will always get screwed. If you don't get screwed now, you will eventually get screwed later. The sooner you accept life isn't fair, the sooner you can make winning decisions and succeed. Finding happiness is also accepting that fairness is a human construct. If you plan to play someone else's game, then you must accept the game will likely be rigged in their favor, no THE HOUSING MARKET: IT'S TIME TO START WORRYING AGAIN As we come out of the pandemic, housing market has turned hot. Demand is extremely strong from first-time homebuyers, trade-up buyers, and institutional investors. Therefore, it's time to start worrying about the housing market again. If you plan to buy a house, it's worth thinking about what could go wrong. This way, you wont get blindsided

in case things do.

IS FIVE MILLION DOLLARS ENOUGH TO RETIRE COMFORTABLY OR EARLY? Five million dollars is a lot of money. But depending on where you live, when you retire, and how many dependents you have, five million dollars may not be enough to retire comfortably. Today, $3 million is the new $1 million, largely due to inflation. Therefore, five million dollars is more like having $1.7 million back in the 1980s or earlier. WHICH STATES ARE BEST FOR RETIREMENT? Are you wondering which states are best for retirement? As a retiree since 2012 let me share the best states for retirement based on taxes, weather, and lifestyle. My method for calculating the best states for retirement are objective and intuitive. In retirement, you want to live in a place that has reasonable taxes. Every day, you'd love to go outside and enjoy nature. Further, you'd love to MANAGE SUBSCRIPTIONS PRIVACY: We will never disclose or sell your email address or any of your data from this site. We do highly welcome posts and community interaction, and registering is simply part of the posting system. DISCLAIMER: Financial Samurai exists to thought provoke and learn from the community. Your decisions are yours alone and we are in no way responsible for your actions. WHAT PERCENT OF AMERICANS OWN STOCKS? The next 40 percent owned $132,000 on average. For the bottom half of families, it was just under $54,000. In terms of what percent of Americans own stocks, the answer is about 52%, down from a high of 66% in 2007. We’ve seen a massive rise in the S&P 500 since 2009, meaning that serious wealth has been made by the wealthiest of

Americans.

CLOSING COSTS WHEN PAYING ALL CASH FOR A HOME Paying all cash for a home is one of the best ways to get a great deal on a property. With all cash, a buyer can make a no-financing contingency offer that is much more attractive to the seller. A financing contingency and an inspection contingency are the two main reasons why deals fall apart. This post will highlight all the closing costs when paying all cash for a home. RECOMMENDED 529 PLAN AMOUNTS BY AGE: CAREFUL SAVING TOO MUCH From a financial perspective, one of the best things to come out of the coronavirus-induced market meltdown is being able to contribute to your children's 529 plans at lower index prices. Let us dig deep into the recommended 529 plan amounts by age. Given parents are investing for an expense that might not occur for another 10-18 years, it's easier to invest in a 529 plan during times of turmoil. HOW MUCH SHOULD I HAVE IN MY 401K AT 50? The average 401k amount by age 50 is about $150,000. But for the above average 50 year old, he or she should have between $500,000 – $1,200,000 in his or her 401k. After all, the above average 50 year old has been able to save and invest for at least 25 years in the greatest bull market of all time. The above average 50 year old is a

personal

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