Journal Club 02-02-24 – Passive Income MD
Here’s Journal Club 02-02-24! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!
- There’s no doubt that investing in a Roth IRA is an excellent financial strategy. So, does it make sense to contribute to Roth during peak earning years if you plan to retire early? Per The White Coat Investor, the answer to that question involves several financial considerations that need to align with your long-term goals and tax implications. The author addresses that question and more in the article – Is It Ever a Good Idea to Over-Fund a Roth IRA? Check it out.
- A majority of the financial struggles that we face demand the need for enhanced financial literacy. This is true for all individuals, not just the high-income earners. Per The Prudent Plastic Surgeon, there are several essential steps that need to be taken in order to improve our knowledge of personal finance to achieve greater financial well-being, and the author shares more about it in the post 5 Interesting (and Scary) Financial Facts.
- The dangers of asbestos pertaining to health and safety when inhaled are well-known. Once considered a “magic mineral,” it can pose serious health risks when disturbed. So, as real estate investors, how should you go about handling older properties that present this hazardous health threat? The Semi-Retired MD offers valuable guidance on the topic of safe removal and remediation of asbestos in the article – Dealing With Asbestos In Rental Properties: A Guide For Real Estate Investors.
- The definition of wealth is relative in nature and it continues to evolve with age and income. The Federal Reserve determines a net worth of anything over $13 million to be in the top 1%. Would amassing that number offer you a sense of being “rich?” Per the Financial Samurai, being “rich” doesn’t necessarily require a top 1% net worth; rather appreciating what you have today is certainly a sign of being wealthy. Nevertheless, if you’re curious to find out how your net worth stacks up against your peers, the author shares more details in the post – The Top 1% Net Worth Amounts By Age: Are You Rich Enough?
Read any interesting articles? We’d love it if you could please take a moment to share them in the comments below!
Thank you for reading and sharing,
Disclaimer: The topic presented in this article is provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.