Here’s what we have on deck today:

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📗 Read: How to Fix The Housing Crisis
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🎙️ Listen: How Much Should You Save by Age!

The Savings Rate Chart That Changed My View of Money

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Your Income is the most important factor in building wealth. ​
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I have made my opinion on that very clear over the years. This is why you will see me focus more and more on content related to income acceleration.
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But one thing still rings true.

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What you do with that income can be the most powerful decision you can make. ​
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We are flooded with tiny micro decisions every day about what we need to do with our income. It can be exhaustive, to say the least. But, this chart helped me make the decisions a little easier over time.
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It all started when I read this post back in 2013. This is from Mr. Money Mustache who truthfully is one of the first people to set that financial independence FIRE under my caboose (Pun intended).

This assumed the following:

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• You can earn 5% investment returns after inflation during your saving years
• You’ll live off of the “4% safe withdrawal rate” after retirement, with some flexibility in your spending during recessions.
• You want your ‘Stash to last forever, you’ll only be touching the gains, since this income may be sustaining you for seventy years or so. Just think of this assumption as a nice generous Safety Margin.

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This gets the idea across of how simple the math can be to freedom. But to me, it was ultra-conservative.

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Then came along this post in 2020.
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Nick did the math I always wanted to do. What would happen if you changed the rate of return assumption from 5% to 8%? He came up with this:

The numbers drastically change. Your path to freedom becomes much faster.
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Then the question becomes is 8% realistic?

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I am writing this in the investing good years. The S&P has historically returned the below:

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​Source​

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Always plan conservatively & Invest Optimistically.

Today’s newsletter is brought to you by Empower.

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​Empower is a really helpful free tool for keeping track of your money. It's easy to use, and it helps you see how much money you have and owe. With Empower, you can make smart choices about your finances and reach your money goals.

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Track your Net Worth for Free and use this link. ​

👍 Money Finds

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Soaring Lottery Jackpots 🎰💰

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​The New York Times examines the surge in lottery jackpots, particularly for MegaMillions and Powerball, exploring what leads to such enormous prizes and the broader implications. The article might delve into the psychology behind lottery participation, strategies for winners to manage their wealth, and the complex tax considerations they face.

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The High Cost of Moving 📦💸

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​CNBC reveals how many Americans are caught off guard by the steep costs associated with moving. This piece could offer insights into the various expenses involved in relocating, tips for budgeting effectively, and methods to cut down on moving costs, highlighting the importance of thorough financial planning during the moving process.

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Tax Reporting for Net Unrealized Appreciation 📈🧾

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​Fitaxguy discusses the intricacies of reporting net unrealized appreciation (NUA) on tax returns, an essential topic for individuals with substantial employer stock investments within retirement accounts. The article is expected to outline the benefits of NUA, eligibility criteria, and detailed guidance on how to leverage this aspect of tax planning to optimize financial outcomes.

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​Traction: Get a Grip on Your Business​

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​Can you Contribute to Multiple Retirement Accounts At The Same Time? - Money Q&A​

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​9 Modern Side-Hustle Ideas That You Can Eventually Turn Into Full Time Businesses!​

Youtube

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​The Complete Guide to The Chase Sapphire Preferred (26 Incredible Benefits!)​

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