Do You Separate Your Money Into Different Buckets? – Mental Accounting Bias

  Today I’d like to address the psychological phenomenon called from the world of behavioral finance called Mental Accounting. As we enter the New Year and everyone begins making their budgets, mental accounting is very likely to pop up. People will subconsciously create different buckets for their money. As a result, their portfolios are not … Read moreDo You Separate Your Money Into Different Buckets? – Mental Accounting Bias

Virginia College Savings Plan 529 – Save For Your Kid’s Education

Thinking about kids? Or what if you already have them? For those thinking about their kids’ future education, the IRS allows parents to open up an account that’s specific to saving for kids’ education. In Virginia where I live, it’s specifically called the Virginia College Savings Plan. These are tax-beneficial accounts that grow over time … Read moreVirginia College Savings Plan 529 – Save For Your Kid’s Education

IRA Contribution Limits and Roth IRA for 2019

  Happy 2019! A friendly reminder that your IRA and Roth IRA contribution limits have changed for 2019. Most of them are up from 2018. The contribution limits for retirement accounts are as follows: 401(k), 403(b), 457 and TSP Plan Contribution Limits The 401(k), 403(b), 457, and Thrift Savings Plan (TSP) limit will go up … Read moreIRA Contribution Limits and Roth IRA for 2019

Budgeting for Michelin Star Restaurants in DC

As a foodie, who’s also striving for financial independence, I live in a state of perpetual ambivalence. How exactly can one afford to eat out at Michelin Star restaurants while trying to save up for retirement? Well the journey to financial independence is a balance between money and enjoyment. Hence, to enjoy the things you … Read moreBudgeting for Michelin Star Restaurants in DC

Not Negotiating Your Salary Could Cost You $210,017

As college students begin receiving job offers for graduation in Spring, many of them have no experience in negotiating salary. I want to stress the importance of negotiating salary and its impacts on your financial future. And especially with the economy the way it is today, getting an interview is a blessing for many. Although … Read moreNot Negotiating Your Salary Could Cost You $210,017