Welcome to Wednesday, money nerds. Today, I’ve collected four recent articles about personal finance that I believe are worth your time and attention.
How my first property purchase went south. [ESI Money] — “I believe that things always happen for a reason, so while I would have liked that property, I’ve moved on and am not pouting over the loss. And I do actually have an education of sorts, so I don’t leave the process with nothing. Here’s what I’ve taken away from this experience.”
How to travel as much as you want without retiring early. [The Fioneers] — “We don’t plan to become digital nomads. We love our home and community in Boston, and this is not something that we want to give up. Because of this, we’re planning to take the approach of maintaining a home base while doing frequent travel. Once we are fully location-independent, I envision us traveling for 1-3 (or even 6) months at a time (depending on where we go).”
The future is unknowable. Should you spend all of your money or sock it away? [Physician on Fire] — “Living with an unhealthy fear of what next year could bring can absolutely help boost your savings rate and lead you to financial independence sooner. But what kind of life are you living before that day comes?”
Should you tap your retirement accounts to buy a home? [Morningstar] — “The tax code also makes special provisions for some types of retirement-portfolio withdrawals to pay for first-time home purchases. In an ideal world you’d fund a home purchase with non-retirement assets–money held in a taxable brokerage account, for example. Raiding a retirement account to pay for a home could even be considered a red flag that you’re buying more home than you can afford.”
And that’s all I have for Hump Day. I’ll be back tomorrow with more stories about how you can master your money — and your life. Until then, take care!