This is Journal Club 07/23/21! I stop every week JOURNAL CLUB. After filtering the articles on the web, I present some that have had an impact on my life this week. Be safe and stay healthy!
- Have you heard of the popular “No Spend Challenge” that is popular in the FIRE community? I think it’s an interesting concept that can help you determine the essential and non-essential aspects of your monthly burn rate. It’s a great exercise for reducing household debt fat, and it has the potential to continue for more than the month-long duration of the challenge. Did that spark your interest? Read more about the challenge and get some tips on how to complete this challenge in the article. How to insist on a no-spend challenge for a month from XRAYVSN.
- Are you afraid of making mistakes and failing? Along with FOMO (Fear Of Missing Out), the fear of failure is one of the most important problems that affect children and adults alike. Nobody wants to be a failure, but if you want to find the direct path to success in life then it is important to realize that there will be failure along the way. Debt Free Dr says it is okay to fail as it paves the way to success. Take a look at the article Don’t be afraid to fail to learn more about the author’s biggest failure in real estate investing and the lessons learned from it.
- Have you observed that high earners don’t necessarily save money? Bringing in good money is only half the equation; the other half keeps and grows this money. An overdrawn lifestyle and spending without a budget are just some of the things that stand in the way of a healthy financial life. In this article, Personal financial habits of successful high-income earners, Author Katie Brewer highlights certain qualities to build a happy money life.
- If you are a self-employed doctor, the responsibility for planning your retirement provision rests on your shoulders. Which retirement plan you choose depends on whether you are a contractor and whether you have employees. Smart Money MD discusses the top two ways to invest in single-person pre-tax annuity funds. Read this article, How to open your Solo 401k at E * Tradefor more information about the types of retirement accounts available and which might be the best option.
That’s it guys. Hope you enjoyed the Journal Club this week.
Are you reading anything interesting this week? Please don’t hesitate to share them in the comments below!