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HSA: How to Beat Taxes Like the Rich

The rich have a different focus. They're not worried about saving for retirement—they’re worried about passing their wealth to heirs without paying too much in taxes.  Taxes are their biggest enemy. And they've figured out how to avoid them. For the rest of us, we don’t have millions to protect. But there’s a powerful tool we can use to save on taxes. It’s called the Health Savings Account (HSA).  Here’s how it works. True Story  I recently went to the eye doctor. Here’s what I spent: Extra test: $39 Ray-Ban frames: $375 Total cost: $414 that I paid with my HSA card. Because the money in my HSA is pre-tax, I didn’t need to earn as much to cover the cost. Pre-Tax vs. Post-Tax Spending Let’s say you're in a 24% federal tax bracket, and you also pay 5% state tax. Your total tax rate would be 29%. Without an HSA (Post-Tax): To pay $39 for the eye test, you’d need $54.93 before taxes.  To pay $375 for the frames, you’d need $528.17 before taxes.  For the total ...
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Why Even Finance Experts Overspend During the Holidays

Even though I work in wealth management and coach personal finance, I still overspend sometimes. It happens.  But why is it so easy to spend too much, even when we know better? The U.S. saw a 4.8% increase in holiday retail spending in 2024, totaling around $1.1 trillion. Online sales jumped by 7.1%.  These numbers show just how much people are spending—sometimes more than they should—especially during the holiday season. The Psychological Trap When we buy something, our brain gets a reward. That quick feeling of pleasure is from dopamine. It feels good at the moment, but later we often regret it.  Our brains are wired to chase these quick rewards, so we spend without thinking about the consequences.  Easy Access  Makes It Worse In the past, it was harder to buy things. You had to get up, find your card, and enter the details. That little bit of effort often made you pause before buying.  But now, things are easier. All my payment info is saved. On Amazon...

America’s Money Crisis: The Numbers Don’t Lie

If you had a $1,000 emergency today, could you cover it? For nearly half of Americans, the answer is no. Last night, I woke up in the middle of the night. To help me fall back asleep, I started scrolling through LinkedIn. One post stopped me dead  cold:   62% of households live paycheck to paycheck. 76% don’t have enough to cover a month of expenses. 45% couldn’t handle a $1,000 emergency. The average household owes $23,000 in non-mortgage debt. 30% spend too much on housing. These aren’t numbers—they’re people. People who are stressed, struggling, and stuck in a cycle that feels impossible to break. So I asked myself: Why is this happening? And what can we do about it? Why This Is Happening Costs Are Rising Faster Than Wages:  Prices for essentials like housing, food, and gas keep going up, but paychecks aren’t keeping pace. Debt Is Taking Over: Student loans, credit cards, and car payments are piling up. High interest rates make it even harder to pay off. Housing Is To...

How Taxes Could Be Sabotaging Your Retirement

If you’re planning for retirement, you’re probably thinking about your investments. But here’s something you can't ignore: taxes . A solid tax strategy is just as important.; and if you don’t plan for it, taxes could eat into your savings. Taxes Can Take More Than You Think Taxes are coming for you, whether you like it or not. They’ll take a cut of your paycheck, and when you retire, they’ll take a cut of your savings.  If you don’t plan for them, taxes on your 401(k) or IRA withdrawals could surprise you.  For instance, if you withdraw $50,000 in a single year from a traditional IRA, it could bump you into a higher tax bracket, increasing your tax rate from 12% to 22%.  That’s a difference of $5,000—money that could have stayed in your pocket with better planning.  A tax strategy helps you avoid this by spreading out your withdrawals and taking advantage of tax-free options like a Roth IRA, and Roth 401(k). Taxes Don’t End When You Retire You might think taxes are o...

ESG Investing: How Your Money Can Make a Difference

Most investments sit there, growing without much change. But imagine your investments helping the planet, supporting fair treatment of workers, and promoting ethical business practices—all while growing your wealth.  That’s ESG investing! What Is ESG? ESG stands for Environmental, Social, and Governance. It’s about investing in companies that are good for both the world and your wallet.  Let’s break it down: Environmental (E) : This measures how a company impacts the planet. Do they reduce waste, use clean energy, or limit pollution? Social (S) : This focuses on how a company treats people—employees, customers. Are workers paid fairly? Do they ensure safe working conditions? Do they support community development? Governance (G) : This looks at how a company is run. Is it transparent? Are leaders ethical? Do they protect shareholder rights? Why Does ESG Matter? Companies with strong ESG practices tend to perform better in the long term. They’re usually better managed, ...

Are You Missing Out? The Hidden Opportunities in Cryptocurrency

Bitcoin blew up in 2021. If you’re still figuring out what Crypto is all about, you’re not alone. It’s a big deal in finance now, and you don’t want to miss out. The Rise of Cryptocurrency Crypto is like the internet in its early days—new, full of potential, and changing everything. Bitcoin started out as digital money.  Today, it’s known as "digital gold" because it’s rare and valuable. Only 21 million coins will ever exist, which makes Bitcoin even more sought after. Even huge names like Fidelity and BlackRock are jumping in. Morgan Stanley just gave its financial advisors the go-ahead to pitch Bitcoin ETFs to clients. It’s no longer just for the tech crowd—it’s gone mainstream. My Journey with Crypto I started with XRP back in 2019 when it was under 20 cents. To be honest, I didn’t know much, but I took the leap. The market was unpredictable. There were big swings, some amazing gains, and plenty of losses too.  But I stuck with it, learned how to read the market, and that ...

Social Security's Dirty Secret: Why You Need a Backup Plan

Relying on Social Security for retirement is like trusting that friend who always says they’ll help you move—and then flakes out at the last minute. You think they’ve got your back, but instead, you’re left carrying a couch down a flight of stairs by yourself. That’s what relying on Social Security might feel like. The hard truth is social Security won’t cover your retirement. The system is stretched thin, and those checks might barely cover your Netflix, let alone your dream retirement. Social Security Running Dry Let’s face it: Social Security is on shaky ground. Fewer workers are paying in, and more people are collecting benefits. The government predicts that by 2034, the trust fund could be tapped out, and that means benefits could drop by 20-25%. That’s less than $1,500 a month. Can you really rely on that to retire comfortably? Building Multiple Income Streams Think of retirement like a garden. You wouldn’t rely on just one hose to water it, right? You’d use sprinklers, ra...