The Ultimate Financial Principle

The world of personal finance can be complicated. Even when I try as hard as I can to keep it simple here. Learning and dealing with terms like passive investing, FIRE, safe withdrawal rates, stretch IRAs, expense ratios, safe harbor rules, HCE rules, tax loss harvesting, capital gains, dividends, escrow, PMIs, ETFs or rebalancing can trigger an eye roll. It really gets old fast. In aggregate the concept of personal finance is to ensure that you influence your net worth in an ever increasing upward trajectory. However, in actual sense, true financial success rests on a basic and ultimate financial principle: CONTENTMENT. I know, I know, it sounds so cliché. But it’s actually true. Contentment is more than a financial principle; it is a mindset which makes all of life better. According to the Urban dictionary, contentment is the state of mind you reach when you look at your life, in all its imperfection, and say, “good enough”. It is

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Common Personal Finance Terms And Their Meanings I

This is a long post, so it’s going to run in 2 parts. Part 2 will run next week. This is a young blog and I feel it is right to set some proper foundation. It will not be presumptuous of me to assume that my main target audience for this blog have minimal interest in personal finance. To be fair, the majority of Americans really don’t pay attention to their finances.  But someone who was born and bred in America has probably heard some of the numerous common financial terms often used, even if they don’t know their full meanings. However, to the immigrant, especially one that is still relatively new in this country, most of these financial jargon will inspire confusion. Most just give up even trying to learn and know what these terms mean. People don’t want to read books on personal finance and investing because most are truly boring and some authors already assume some level

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Fully Integrated to America? Now Change Your Mindset

One of the greatest struggles of new immigrants to America is to get integrated into their new society. By far, the most important aspect of this is to get your legal status in place. The process can be long, curvy, and filled with cliff-hangers. The process and duration can be different for each individual depending on your country of origin or your career status when you started. Your American colleagues or friends who never experienced this, have little to no knowledge of how this process works and how painstaking it can be. While you are doing this, you are also concurrently blending into the different cultures of your new home: their foods, weather patterns, slangs and accents, social expectations, nightlife, national holidays,  religious worship, tax system etc. By the time you check this box (often by obtaining a permanent resident card or getting your citizenship), you have already been in the country for a while. If you’re like most immigrants, your mind was probably laser-focused on

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Land of Immigrants

  America is a land of immigrants. Her history attests to this fact. America has a rich culture, and though its history is beset with a dark past (slavery and segregation), modern America has a multi-cultural flair with people from almost every part of this world migrating to this great nation. No other country in the world has this attraction. People from different parts of the world often hear the mantra, “Living the American Dream” and get seduced by this. New immigrants to the US are also not exempt from this seduction. There are different aspects of the American life and immigrants are quick to adapt to the life and culture here to blend in. There is one aspect of American life which sometimes takes a long time to master, and that is finances (specifically, personal finance). If you migrated to this country from a third world or developing country, you might find some of the topics around personal finance quite

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