Daan is questioning if he ought to stake or lend his present cryptocurrency portfolio to make extra features on belongings he plans to carry long-term?
C desires to know what tax implications she ought to take into account earlier than working remotely from overseas?
Russell’s job gives the choice to contribute to a 457 plan. Since he’s within the highest tax bracket, ought to he make the most of the tax deferral supplied by way of the 457 or make investments inside a taxable brokerage account?
Do you’ve a query on enterprise, cash, trade-offs, monetary independence methods, journey, or investing? Depart it right here and we’ll reply them in a future episode.
Nameless asks (at 4:55 minutes):
I’m 31 years-old dwelling in a medium value of dwelling space, making $78,000 a yr. I at the moment max out my Roth IRA, HSA, and 401(okay). I additionally contribute $400/month to a taxable brokerage account.
I’ve about $81,000 invested throughout all of my accounts and $41,000 in scholar loans, that are at the moment in forbearance as a consequence of Covid.
My major purpose is to have the funds for in order that in 14 years I’ve the pliability to cease working and spend time with and/or deal with my mother. My secondary purpose is to completely reside life by embracing the change and freedom that monetary independence offers.
I’m on observe to be financially impartial inside 14 years. Though my present job pays effectively and gives flexibility and autonomy, it’s so boring. I can’t think about doing this for the following 14 years. I’m compensated appropriately, however could possibly be making extra in different roles.
These would include larger stress and longer hours, however I might retire faster and with larger revenue.
I don’t really feel like I’m dwelling as much as my potential. I’d love to do extra, however I’m undecided what that’s. Any recommendation?
Daan asks (at 26:20 minutes):
My portfolio accommodates 90% index funds; 4-5% is in cryptocurrency. I plan on holding my crypto long-term, and they’re at the moment within the dealer wherein I purchased them. I’ve heard it’s attainable to both stake or lend them to earn curiosity.
I’m not trying to gamble this cash, but when it’s attainable to earn 8-16%+ on the crypto I already maintain, why shouldn’t I try this?
C asks (at 40:53 minutes):
Over the past yr, many individuals have favored having the choice of working from residence. I’m fascinated by working not simply remotely, however from overseas.
As an worker in a standard working atmosphere, what tax implications ought to I take into account if I had been to work overseas?
Russell asks (at 49:26 minutes):
I work for a big healthcare group that provides its workers a 457 plan. I’ve been hesitant to speculate by way of it, because it received’t be my cash till withdrawal. Nevertheless, my employer appears to be financially secure and gives nice funding choices inside the account. I’m within the highest tax bracket for W-2 revenue.
If I invested $20k yearly for the following 15 years in a taxable account vs. the 457 account, what could be the distinction after 15 years within the cash amassed? By how a lot would I be dropping out by not profiting from the tax deferral?
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