Journal Club 2-27-20

Every other week, I hold a JOURNAL CLUB. After manually filtering through the millions ofarticles out there on the web, I present a few that impacted my life this month.

Here’s our Journal Club for the week, enjoy!

• For people who are thinking about financial independence and have considered investing into real estate, there’s a specific niche option should be on your radar, as it’s been growing by leaps and bounds and can outperform virtually any traditional real estate investment. Specifically, we’re referring to short-term rentals. Read this article from the Physician on FIRE blog to learn how to generate income with AirBnB.

• Part one of this two-part blog discusses how to calculate property taxes after buying a rental property. Learn how to calculate the property taxes, how to lower them, and how to challenge them over time with Semi-Retired MD. Tips like these can be the difference of thousands of dollars.

• While we’re all thinking about filing our 2019 taxes, we should also be looking forward and figuring out what to do about our 2020 taxes. This is especially true if you are a side hustler, and that’s because starting to organize and optimize your business income to make it easier for tax time will make the whole process a little less painful. Take a look at this article from the Millennial Money Man on how to handle taxes for your side hustle.

• If you’re also a parent trying to consciously save for your children while also teaching them the power of a dollar, these few simple strategies along with diligent work can help your children build a healthy financial foundation and educate your kids on the importance of saving. Help your kids learn about finance earlier rather than later with this post from Think Save Retire.

• Financial Residency‘s Ryan Inman and his wife Taylor recently went to Australia for a financial conference. While he was there to speak at the conference about podcasting, he also had the opportunity to collect financial tips from several other experts who attended as well. Take a look here to see those tips.

• When we understand the “why” behind our decisions, coupled with the marketing tactics that retailers use, we can guard ourselves against cognitive biases and sales strategies. Jeff Kreisler, co-author of Dollars and Sense and Editor-in-Chief of PeopleScience.com, joins us to talk about common money mistakes people make and how to avoid them. Listen to this episode on the Afford Anything Podcast to learn how to stop making so many money mistakes.

• Podcast hosts unite! Anjali Jariwala, host of the Money Check Up podcast, connects with Dr. David Draghinas, host of the Doctors Unbound Podcast, to discuss short-term rentals and life beyond medicine. Listen for some great advice and wisdom, especially if you're a doctor!

A little bit of motivation below. Enjoy and have a great weekend!