Financial Health Matters for Higher Education and Beyond
When I was living in the Philippines, my mom had set up a college plan for me, which dismayed and annoyed my dad because he did not believe in financial planning. Sure enough, he did not live to see the day that I will enter university. Because of an illness, he passed away before I even made it to high school. If it was not for that prepaid college plan, and my mom helping out, I may not have been able to go to the university I liked. When Peter was going to university, he never got a full scholarship (only a partial one) to an in-state school in Florida.…
Is Owning a Timeshare a Good Investment?
When you hear the word timeshare, you probably think: bad investment, can’t sell them, high fees, low flexibility, outdated. And many more, I’m sure. They’ve made a few people very rich (the guy behind Westgate Resorts) and also infamous (same Westgate guy, who tried to build the greatest mansion in the world in Orlando and it went so bad Hollywood made a documentary out of it). Is a Timeshare a Good Investment? We recently took advantage of a timeshare offer from SPG’s Vistana Vacations to spend 4 nights in Los Cabos, Mexico at their Westin Los Cabos resort, and attended the obligatory 2-hour presentation by a friendly and charming salesperson. …
The Mega Backdoor Roth 401k Retirement Strategy
I attended a seminar hosted by my employer on the new benefit they are rolling out. They are now allowing Roth 401k contributions as part of our 401k plan. Happy days, right? More options for people who want to have more options. But little did I know that this will open up an entire new retirement strategy for us and will mean more tax-deferred or even tax-free growth on earnings on our money! The Mega Backdoor Roth 401k Retirement Strategy Most people will probably not consider putting more money in an after-tax 401k. There’s so many reasons why: Can’t max out pre-tax, so why even put in after-tax money? Living…
Montego Bay Jamaica On A Budget
Montego Bay, Jamaica: known for being a tourist paradise located less than an hour and 40 minutes from Miami International. I never thought I would get here, but I did, thanks to points, miles, and taking advantage of various promotions. We try to break down how we managed to go to this wonderful place without spending a ton of money, and we’ll show you exactly how we did it so you can replicate it! Sounds good? Great. Let’s get started.
How Much Are We Spending? – January 2016 Edition
Hello there! Every month, when I (Peter) do the budget, I take a look at how much we spend as a percentage of our income on all of our expenses, from utility bills to mortgage to dining out to travel. How to read our spend report: For privacy purposes, we don’t actually put in the actual numbers of our earnings. We earn our income through a variety of means: By both having full-time 9-6 type jobs. By side hustling for extra cash: By renting out our spare bedroom on AirBnB (to get $20 off your first booking, let us know so we can email you a referral code). You…
