Journal Club 08-25-23

Here's Journal Club 08-25-23! 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!

• Nobody enjoys paying large sums of money come tax season. So it’s a no-brainer that tax planning should be a crucial aspect for lowering your tax burden. Speaking of which, the Physician on FIRE discusses a valuable strategy that is often overlooked, which could potentially save you thousands of dollars each year. Curious to find out what that could be? The author shares more in the article – The Monetary Value of Tax Loss Harvesting & How to Report it to the IRS.

• Reading personal finance blogs is an excellent way of seeking inspiration and new ideas from ordinary people who have achieved extraordinary milestones, would you agree? However, it may come across as these individuals did everything right to make this happen, which can be a bit discouraging. The Happy Philosopher makes this fascinating observation and emphasizes that attaining financial independence doesn’t require you to be perfect and shares key pointers for building a secured financial future in the post – How to Make Financial Mistakes and Still Achieve Financial Freedom.

• The student loan forgiveness plan may be blocked by the Supreme Court, but did you know the new “SAVE” (Saving on a Valuable Education) repayment plan is still in effect and offers similar advantages? The author Ben White explains the plans’ significant benefits and how it simplifies student loan repayment. Further, the author shares how it could be a favorable option for many borrowers in the article – SAVE is the New REPAYE. 

• Each one of us has blind spots, and these can be particularly harmful when planning for retirement. It would be incredibly helpful to learn from those who are ahead of us on the financial planning and retirement journey, wouldn’t it? On that note, the author of The Retirement Manifesto is offering us exactly that in the post – Shining The Light On Retirement Blind Spots, highlighting the most important points to bear in mind when planning for your retirement.

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,

Peter