The Sunday Best (08/27/2023)

The Sunday Best is a collection of articles I’ve curated from the furthest reaches of the internet for your reading pleasure.

Every week, I scan hundreds of headlines, read dozens of posts, and bring you the best of the best to save you time and mental energy.

Financial Independence (FI) is a primary focus, but it’s an awfully broad topic. I tend to approach FI and early retirement from a fatFIRE perspective and through the lens of a physician, so expect to see those biases in the selected articles.

Related topics that have become recurrent themes include early retirement, selective frugalitytax issuestravelphysician issues, and of course, investing.

For more great articles, take a peek at The Sunday Best Archives. Now let’s get to the best… The Sunday Best!

Jorge Sanchez, MD, curated this week’s articles.

 

Real estate investing can be a powerful tool when planning for early retirement. One downside is that, when it comes to real estate investments, you are usually limited in how much you can deduct against your other income. But what if we tell you there is a way to offset this rule by achieving a Real Estate Professional status? In today’s post, we go over what you need to know about the Tax-Reducing Power of Real Estate Professional Status (REPS) 

 

Is private ownership worth all the hassle, worry, and liability? The Humble Dollar tells us a story of the struggles of owning residential real estate property and why an investor might consider leaning toward REIT instead: Don’t Get Catty.

The wealthiest generation is about to retire. The first boomer was born in 1946, meaning they are approaching 80 years old. Ben Carlson from A Wealth of Common Sense talks about The $70 Trillion Wealth Transfer and what it means for you.

 

Is buying a house at 6.5% mortgage a bad financial move? Jesse Cramer from The Best Interest tells us why he doesn’t think so: Why’d I Buy a Home With a 6.5% Mortgage?!

 

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The American Dream might emphasize permanence. But, in this insightful article from Dwell, Rabekah Henderson, chronicles why she and her husband decided to end their two-year homeownership and the many lessons they learned along the way: Why I Returned to Renting After a Few Years of Home Ownership.

 

Our feelings about money are always relative. Indeed, many are woefully underprepared for retirement from some combination of a low income or a lack of planning. But others are prepared but cannot stop worrying about money enough to enjoy it. In this post, A Wealth of Common Sense talks about why You Probably Need Less Money Than You Think For Retirement. 

 

Yes, our mental and physical skills decline over time. But it turns out that most (and possibly all) of them are use-it-or-lose-it skills. Time list the different myths about aging and why Believing Myths About Aging Makes Growing Old Worse.

 

Getting a lot of money in Roth IRA can be challenging. Despite jumping through the hoops with the Backdoor Roth IRA process, most people still end up with less in a Roth IRA than they would prefer. Jim Dahle from the White Coat Investor discusses if perhaps opening a Roth IRA for your kids is the answer: How to Open a Roth IRA for Your Kids (and Should You)?

 

How would you invest if you were immortal? Klement on Investing shows us: Investing for immortals.

 

I’m Recently Retired. Do I Pay Off My Rentals Or Buy More Real Estate? Paula Pant tackles this question in her podcast Afford Anything.

 

How do we see work as just a piece of our life? In Afford Anything podcast episode, Simone Stolzoff uncovers what we lose when our work becomes more than just a job, challenges the prevailing narratives of work as a calling or dream, and shares strategies that can help us build more well-rounded lives: The Importance of Having a Life Outside of Work, With Simone Stolzoff

 

Coach Carlson lists his ideal characteristics of what makes the ideal rental property for me in my town: This is my ideal rental property (size, materials used, buy box)

 

Debt-Free Doctor goes over the different tax advantages real estate syndications offer including mortgage interest deductions and bonus depreciation: Real Estate Syndication Tax Benefits For Passive Investors

 

Humble Dollar Lists 7 Financial Superpowers- and no, knowledge in investing is not one of them: Financial Superpowers

 

Limiting beliefs about money are narratives that keep us stuck in a bad financial situation. They prevent us from taking risks and achieving our goals. And while they are difficult to identify, they can be overcome. In this post, Let Go of Limiting Beliefs About Money, we discuss common limiting beliefs about money, why these beliefs prevent you from getting what you want, and how you can overcome limiting beliefs.

 

 

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