This appears to be
https://mrmoneymustache.com, in case you had any questions, like:
Quote:
Originally Posted by redpoint5
Why #4
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I am not going to compare and contrast with Dave Ramsey. First of all, I would need to look up his version, which almost nobody follows.
I am pretty sure that #1 is cut up all credit cards.
#2 is live on a diet that gives you diabetes [and other health problems] until you are out of debt.
#3 is to pay off your smallest debt first, which isn't as effective as paying off the highest interest rate first.
#4 is to max out your retirement as soon as you are out of debt.
Some people should not be trusted with debt, but pretty much all of Dave's criticisms of credit cards apply to debit cards.
I use credit cards for most of my purchases and ensure that I pay off my balance before I accrue interest.
Dave Ramsey cultists insist this doesn't work, but Bank of America says that I have earned $209.81 this year and $314.51 in 2022.
Just keep it under control and you get a little extra money.
Meet Kevin promoted credit card churning.
You are supposed to be able to find credit cards that offer cash for signing up [and using them enough], so you can make another couple hundred a year that way.
RedPoint, do you do that?
Getting your employer to contribute to your retirement is also free money, but I am a contractor, so I don't have that, benefits, and I need to pay my own taxes and social security.
People say that investment properties only increase in value equal to the inflation rate, but you put 20% down--or less, and your tenants pay off the rest.
You can (and should) deduct mortgage interest on your own home.
Quote:
What Deductions Can I Claim for Rental Property?
As a rental property owner, you can claim deductions to offset rental income and lower taxes. Broadly, you can deduct qualified rental expenses (e.g., mortgage interest, property taxes, interest, and utilities), operating expenses, and repair costs.
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Rental Property Tax Deductions
Real estate may be a better investment than stocks because at least some of it is tax-deductible.