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US Adds 1.4 Million Jobs in August

September 4, 2020 at 9:54 am EDT by Joshua Holt Leave a Comment

CNBC: “Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn.”

“That left employment down 11.5 million from pre-pandemic levels.”

Noah Kagan: How I Make Over 1 Million Dollars a Year

September 4, 2020 at 7:48 am EDT by Joshua Holt Leave a Comment

Noah Kagan was employee #30 at Facebook, #4 at Mint, and worked at Intel and is the man behind the Sumo Group.

In this video, he breaks down in surprising detail how he made $1,000,000 in 2019.

Saving Money with the CEO Approach

September 4, 2020 at 7:40 am EDT by Joshua Holt Leave a Comment

Sydney Jones, writing for I Will Teach You To Be Rich:

C- Cut Costs

E- Earn More 

O- Optimize Spending 

“Traditional advice about saving money only focuses on restricting. By looking at other ways to improve your finances, such as earning more and optimizing your spending, you open up a plethora of new avenues for saving more.”

What to Do When an Investment Strategy Performs Poorly

September 4, 2020 at 6:35 am EDT by Joshua Holt Leave a Comment

The American Association of Individual Investors held a video chat earlier this week with Larry Swedroe.

For those that don’t know, Swedroe is one of the original Bogleheads.

What Should We Make of the Rise of Buy Now, Pay Later Financing?

September 4, 2020 at 6:10 am EDT by Joshua Holt Leave a Comment

Kate Dore: “Over a third of Americans have used Buy Now, Pay Later, according to a new report from The Ascent. These services have become particularly in-demand for online shopping amid the pandemic.”

In one particular case study, Klarna revealed that by using its Buy Now, Pay Later services, they helped Gymshark increase its basket size by 33%.

Does Your Doctor Have a Side Hustle?

September 3, 2020 at 7:28 pm EDT by Joshua Holt Leave a Comment

POF: “She probably puts in 50 to 60 hours a week or more on the job. And yet, if she doesn’t have an active side hustle, she’s probably been thinking about starting one.”

Should You “Ladder” Your Term Life Insurance Coverage?

September 3, 2020 at 5:26 pm EDT by Joshua Holt Leave a Comment

Larry Keller: “For comparison purposes, the cost for $4,000,000 of 30-Year Level Premium Term Life Insurance for a 35-year-old male in New York State obtaining the best underwriting classification would be approximately $2,952 annually. Using the “laddered” example above, the annual premium would be reduced to approximately $2,058, providing similar protection with an annual savings of $894.00 or approximately 30% less than purchasing coverage with long-term guarantees that might not be needed.”

Is Your Mother, Sister, Daughter Investing?

September 3, 2020 at 4:24 pm EDT by Joshua Holt Leave a Comment

“A 2018 Schwab financial literacy survey of the money attitudes of young adults demonstrated that young women were half as likely as young men to have an investment account,” writes Carrie Schwab-Pomerantz.

“Like so many things, I believe it comes down to taking the mystery out of investing. Often, the more we know about something, the less intimidating it is. So for those of us in positions to support financial education — financial planners, educators, employers and parents — the first line of offense is to get the information out there.”

Can Joe Biden Really Cancel Student Loan Debt?

September 3, 2020 at 12:20 pm EDT by Joshua Holt Leave a Comment

“Student loan forgiveness has been a hot topic on the campaign trail and in the halls of Congress. From Sen. Bernie Sanders (I-VT) wanting to forgive all $1.6 trillion of student loan debt to Sen. Elizabeth Warren (D-MA) proposing to forgive student loans for 95% of Americans.”

But can a president cancel student loan debt?

“While the Education Department can cancel federal student loans due to death, disability or fraud, for example, others argue that a broad-scale student loan forgiveness plan would need congressional legislation based on a separation of powers argument.”

Money Diary: Achieving FIRE on £35K Salary

September 3, 2020 at 11:17 am EDT by Joshua Holt Leave a Comment

“I’m a senior medical writer living in Berkshire and following the Financial Independence, Retire Early (FIRE) movement with my husband (A). We hope to be financially independent by the time we reach our mid 40s,” in today’s edition of the Money Diary.

“8.30pm: Home again. Snuggle on the sofa to watch a film, then head to bed where we listen to The Planets audiobook before falling asleep.

Total Spent Today: £0″

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FIREwire

Personal finance, investing and financial independence.

About FIREwire

Joshua Holt is the founder of FIREwire, a site that aggregates personal finance, investing and financial independence stories. He is also the creator of Biglaw Investor.

Joshua spent more than a decade as a corporate lawyer in New York City representing sovereign nations and private equity clients in mergers & acquisitions.

He earned degrees from the University of Arkansas and Boston College, while also spending a year at Cambridge University in the United Kingdom. He lives in Austin with his wife and son.

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