Pay No Taxes Like Donald Trump

I was talking to my brother-in-law about getting started investing in stocks and he asked me about how taxes would be treated. He understands the benefits of using pre-tax money in his 401(k) but wasn’t sure how taxes would work on after-tax money that he may decide to invest in the stock market.

Which made me think about taxes.

And after these elections, I’ve been thinking about how to pay no taxes like Donald Trump! I wanted to write some quick tips on avoiding a high tax burden. I have had an effective tax rate in the low single digits for the past couple years and thought I would share some thoughts on how I do it.

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Habitat for Humanity: A Great Charity

I recently had the opportunity to work on a Habitat for Humanity house. This was a very cool experience because I have never worked on a home construction site before. It was also exciting to get out the office and away from my computer screen. Instead of typing on a keyboard I was down on my knees applying moisture seal to the walls of a basement. Later, I was up on the third floor constructing an exterior wall!

Habitat for Humanity is a great idea! Here’s why.  Continue reading “Habitat for Humanity: A Great Charity”

Planned Giving

What is the largest amount of money you have given to charity? What is the most important nonprofit organization that you support? What are the biggest issues that you care about? These are some god questions to consider as you work towards your financial goals. These are very personal questions, but I think everyone should be thinking about them.

Giving as Part of the Goal

I recently reported my net worth goal in this post. In summary, I didn’t reveal my current net worth or my final goal but rather introduced an index to represent my current net worth. My overall goal is to increase my net worth by ten times in ten years. My interim goal is to increase my net worth by three times in the next five years. I am really excited about these goals and will be writing about various strategies I plan to use. Five years seems like a long time now but I know it will go by faster than I expect.

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Why You Should Give to Charity

One of the most important things you can do to get your finances on-track is to give to charity. This isn’t usually something you would naturally think of when considering how to clean up your financial act. But it is actually one of the best things you can do! The benefits you will gain are not only financial for sure. The greatest benefits you will get are much deeper than what you can obtain from good financial practices.

But you will forgive me if, on this personal finance blog, I go ahead and highlight some of the financial benefits.

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