SMARTDOLLARS DIGEST

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 ...

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 ...

Here’s a quick, no-fuss money tip: You know those stray coins you find everywhere? The ones you toss in a drawer and forget about? Those little guys can actually add up if you start collecting them. Step 1: Grab a Jar Any container works. Coffee tin, old mason jar, even that weird vase you’ve never used. Just pick a spot. Step 2: Toss in Your Spare Change Every time you find loose change, drop it in. It’s an easy way to build a savings habit without even trying. Step 3: Watch It Grow Before you know it, your jar will be full. Those stray coins will start looking like real money. Why It Works: Small Steps, Big Rewards: Don’t underestimate spare change. Little things add up. Builds Confidence: It’s an easy win to kickstart your savings journey. Surprising Payoff: When you finally cash in, you’ll be amazed at how much you’ve saved. That’s it. Grab a jar, start collecting, and watch your savings grow.