After 13 years in finance & helping 3,000+ families gain millions in net worth, here are the best money tips I wish I knew when I started:
1. Stop saving money. Start investing it
2. You only need 25x your annual expenses to never work again
3. 90% of investors can't beat a simple ETF, so don't try to beat them
4. You only need 1-5 ETFs for your entire portfolio. I like $VTI, $VWO, and $VXUS
5. Auto-invest on payday. Willpower isn't a financial strategy
6. Keep investment fees under 0.2%
7. IULs are a scam. Stay far away
8. Whole life insurance is a scam. Stay far away
9. Buy term life insurance and invest the difference
10. Add umbrella insurance once you're worth $500k+
11. The tax code is 6,871 pages of loopholes
12. Hire a CPA before you think you need one
13. Adjust your W-4 to break even. Stop giving the IRS a 0% loan
14. Tax loss harvest when your stocks are down. Losses carry forward forever
15. Set "maximums" for monthly discretionary spending
16. Set "minimums" for monthly investing & debt payoff
17. Use Vanguard, Fidelity, or Schwab to invest
18. Audit your subscriptions every quarter. The average family finds $2k/mo of leaks
19. Max your HSA
20. Max your 401k
21. Max your Roth IRA
22. Use a Backdoor Roth IRA if you earn too much
23. Use a Mega Backdoor Roth if you want to invest more
24. $300/mo in the right accounts can make your kid a millionaire
25. Open a 529, Parent Taxable Brokerage, & Roth IRA as soon as they're born
26. Add them as an "authorized user" on your credit to boost their score & history
27. Don't pay more than 5x gross income for a home
28. Don't pay more than 25% of take-home on housing
29. Don't buy unless you're staying 5+ years
30. One extra "principal only" payment per month can save $150k & 7 years on a 30-year mortgage
31. Never carry a credit card balance
32. Never finance furniture
33. Never finance a wedding
34. Never lease a car
35. You will never out earn bad habits
36. It doesn't matter what you make. It matters what you keep
37. Choosing a great spouse is the highest-ROI decision you'll ever make
38. Boring investments pay for exciting lives
Apply these 38 and you won't recognize your finances 12 months from now.
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@IHateSoccerPod What makes me think soccer is never going to happen and not about developing talent. Is when in the initial high school soccer team info session they ask for donations. And then talk about tryouts. So if you want your kid to make it they need to donate.
@rauchg@vercel@aisdk@v0@nextjs How about a https://t.co/21HmnzVn51 that is usable? I try to vibe code on it and get really close to a small usable website then ask it to change some text or something and it rewrites the whole website and look at feel of every page.
@rauchg Well now I feel dumb I have ideas but canโt get ai to help me get to the finish line. Ai is only good for static pages and forms. I get too many errors when coding with ai.
The amount of whistleblowers that are being found dead in the USA is a sign of oligarchy and corruption. Corporate profit over life and safety is a sign of government priority shift from the people to oligarchy and corporate profit
@rauchg@vercel v0 should tell the user to install the version that it knows and never tell the user to install the latest. . . . . In anything they will help coding errors for us newbies.
@vercel@rauchg do you know when v0 will have tailwind V4?
Also if v0 is not up to date with schadcn components then it should never tell me to install latest. It should tell the user to install the version that it knows. If not it creates errors due to version differences
@rauchg@vercel@rauchg that is great to hear because I was using premium v0 and I was getting shadcn erros that it could not fix due to version differences. So v0 is not usable for a non programmer like myself.