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Getting Rich With Asymmetric Money Moves

Happy Friday!

I’ve always wondered why our taxes are so time consuming… and every year I am reminded with posts like our first one. 🙂

The IRS already has all your income tax data – so why do Americans still have to file their taxes? [The Conversation] – “As an expert on the U.S. tax system, I see America’s costly and time-consuming tax reporting system as a consequence of its relationship with the commercial tax preparation industry, which lobbies Congress to maintain the status quo.” Ha! Follow the money.

Getting Rich With Asymmetric Money Moves [Banker on FIRE] – “The concept of asymmetric wealth creation is a powerful way to grow your earnings, increase your investment returns, and improve your life more generally. The best thing about it is that it’s also very easy to incorporate into your decision-making. All it takes is a slight re-framing of the way you look at opportunities to earn money, invest your savings, and spend your time. Intrigued? Let’s dive in.”

It’s Time to Leave the Casino [Calvin Rosser] – “I’ve been stuck in the casino for the last 20 months, and it’s been hell. At the start of the pandemic, I pulled my money out of index funds in an attempt to beat Mr. Market. In my pursuit of outperformance, I traded everything – options, leveraged shorts, growth stocks, recovery stocks, crypto, and NFTs. […] In a time when the S&P 500 rose 85%, my portfolio returned 20%.”

LEGO Sets Are Better Investments than Stocks, Bonds or Even Gold [Architectural Digest] – “Here’s a piece of advice for anyone looking to invest wisely for long-term gains: don’t get rid of those old LEGO sets just yet because they might be worth some serious dough.” I’m lucky in that we still have all of our sets. I’m unlucky in that they’re all now just one big set.

Enjoy the weekend!