Journal Club 11-03-23

Here's Journal Club 11-03-23! 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!

• The definition of a “good salary” differs greatly from person to person and their unique circumstances, such as their lifestyle choices, geographic location, financial ambitions, etc. On the surface, $150,000 is generally considered a favorable income as it significantly surpasses the median household income; however, can it be called a “good” salary? The Physician on FIRE discusses the answer to this fascinating question in the article – Is 150k A Good Salary?

• Many of us pursuing financial independence dream of retiring early. But have you ever wondered if you're truly ready for retirement? Apart from economic uncertainties, according to you, what are some of the challenges you might face during early retirement? The Financial Samurai poses this interesting question and shares their perspective on the subject through a series of personal experiences in the post – Why It's So Hard To Stay Retired Once You Retire Early.

• If you're interested in purchasing rental properties, how do you ensure you get a good deal? Per the Semi-Retired MD, mastering the art of negotiation is the key to securing better deals. And to be able to do so, you must think from the seller's perspective. Curious to learn how you could enhance your negotiation skills before buying your next investment property? The author shares more about it in the article – Understanding The Seller's Psychology When Buying Rental Properties.

• It's not uncommon to see many individuals either not contributing to or not maxing out their 401(k) accounts. The lack of knowledge on the subject is causing this underutilization of retirement accounts. On that note, The Prudent Plastic Surgeon addresses this knowledge gap to emphasize the importance of contributing to and maxing out one's 401(k) to secure a comfortable retirement in the post – 5 Reasons You Still Need to Max Out Your 401k.

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