Journal Club 02-17-23
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Here's Journal Club 02-17-23! 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!
- Do you feel pressured into keeping up with the Joneses or have a tendency to upgrade your lifestyle whenever you have some extra money on hand? Per The White Coat Investor, most people feel the need to upgrade their lives every now and then. But if your goal is attaining financial independence, your lifestyle choices could heavily alter your wealth-building timeline, and the author explains this concept further using examples in the article – Real Life Examples of Physician Budgets – From the Frugal to the Extravagant.
- It’s not unusual for us to look back and wish we had made better financial decisions in our younger years or started investing sooner than we did. But no matter where you are on your financial journey, it isn’t too late to pursue financial freedom. On that note, to offer some guidance and inspiration, the Banker on FIRE shares beneficial tips to help chase and achieve this significant milestone in the article – Pedal To The Metal: How To Build Wealth In Your 40s.
- When it comes to saving for your child’s education, most people choose to invest in a 529 college savings plan, but they often have questions about accessing any of the leftover funds in the 529 plan. If you’ve been thinking about the same, there’s good news. The author of Retire by 40 shares a helpful strategy in the article – FIRE Hack: 529 Plans Conversion to Roth IRA. Check it out!
- Do you often decide to wait it out or put off doing things you love the most until after you’ve achieved your financial goals? Well, you aren’t alone… The Fioneers had similar views but realized this was a common misconception. And they share their life-changing experience in the article – Location Independence: What It Is, and What We Plan to Do With It.
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.