Thrifty Millionaire

Market downturns can create a unique opportunity for Roth IRA conversions, allowing you to potentially minimize taxes and maximize future tax-free growth. Here's a comprehensive approach: Leveraging Market Declines: Lower Conversion Costs: A market correction reduces the value of your Traditional IRA assets. Converting during this period means you'll pay taxes on a lower dollar amount, resulting in a smaller tax burden. This effectively allows you to "buy low" from a tax perspective. Enhanced Tax-Free Growth: Once converted, any future market recovery and subsequent growth within the Roth IRA are tax-free. This is especially advantageous if you anticipate higher tax rates in retirement. Strategic Tax Planning: Roth conversions, particularly during market downturns, offer a powerful tool for managing your retirement tax liability. Optimizing Conversions Within Your Tax Bracket: Tax Bracket Management: A common strategy is to convert an amount that fills yo...

Open Google tool bar and type “Google Alerts.” Add stock tickers you follow.  Once a day you will receive email articles of each stock.  Read articles.

The book of Ecclesiastes offers a profound exploration of life's vanities and uncertainties, culminating in a call to wisdom and prudent living. Ecclesiastes 11:1-6, in particular, provides a set of proverbs that, while seemingly disparate, offer a cohesive guide for navigating the uncertainties of life, particularly in the realm of investments and financial decisions. These verses resonate deeply with modern investment strategies, encapsulating principles that echo the wisdom of diversification, risk management, and persistent effort. Verse 1: "Cast your bread upon the waters, for you will find it after many days." This verse speaks to the principle of long-term investment and the patience required for returns. It also urges the reader to consitantly invest as a matter of faith. In the context of "magnificent stocks," this suggests a strategy of investing in companies with strong fundamentals and growth potential, holding them for the long term, ev...

As a retired doctor, might I make the following suggestion? I would do a 4-year nursing degree and maintain a 3.4 -grade point average. I had many nurses in my medical class, and I'm sure they're even more now. The reason I would do this is that if you don't make it into medical school, which is quite common, you can always do an online 2-year nurse practitioner degree with this degree. You will be out in 6 years making $250,000 a year or about 60% of a doctor's salary while doing many of the same things. The fact is, if I had a do-over, this is exactly what I would do. Getting a medical degree, going to medical school residency, and practice is like a “knife fight in a ditch.” It can be brutal. A nurse practitioner is not treated in a competitive fashion and is more welcomed by the medical community. Go figure. You can do the online degree while working the night shift in the unit, in essence doing double duty and shortening your time. As nurse practitioner...

My blog on Solomon's investing advice  My tools to study and follow the market. #1 Google zacks and make a shortcut to phone #2 create a Portfolio by joining now. #3 Sign in the created account. #4 click menu then portfolio #5  Create Portfolio of your stocks and watch list. Eg #6 eg this is my portfolio. 1 is a strong buy. 5 is a strong sell. #7 My watch portfolio. #8 Click on the ticker name to read articles on each stock.  #9 I use Google Finance to track my wife and my portfolio. #10 make a portfolio for you and your wife as well as a watch list. I put Zack's watchlist here as well. #11 I transcribe my Schwab stocks here so as to avoid having to sign in too often to schwab. I'm security conscience. #12 you don't have to precisely copy your broker buys. I just average to an approximate date.

Ecclesiastes 2:24 "There is nothing better for a man than to eat and drink and tell himself that his labor is good. This also I have seen that it is from the hand of God." Solomon was given supernatural wisdom by God. In 2 paragraphs (below) he summarizes investing as good as any investment firm today. This the only investment advice the Bible gives. As such it a command. It's a matter of faith and following Gods advice through Soloman. This makes it easy for the average investor to save well over their lifetime.  In Ecclesiastes 11:1-6 Soloman says: Cast your bread upon the waters (send your grain a cross the sea aka keep investing), for you will find it again after many days (retirement). Divide your portion among seven, or even eight (limited diversification), for you do not know what disaster may come upon the land (bear market). If clouds are full of rain, they empty themselves upon the earth (don't look for a signs); and whether a tree falls to the s...