Finances, goals, making money, passive income, Retirement, Savings, Uncategorized, wealth

Real WEALTH through Estate!


In my pursuit of reaching FIRE (Financially Independent Retire Early) or Financial Freedom by age 40, I aim to use Real Estate to build wealth. This desire is more of a recent one, in fact, just last year. Through a finance blogger Tim Kim, I was able to discover Bigger Pockets where I found an incredible amount of free information on getting started in Real Estate.


Why Real Estate?

I want to diversify my income streams and Real Estate is a good option because it provides 1 of 6 of basic human needs for survival, shelter. We all need a place to live. When was the last time you paid for rent? Who does that money go to? For those who own homes, you understand this idea. Paying off your home is building your wealth (equity), which you could then use to invest in more properties.


3 basic ways to build Wealth through Real Estate

  1. Own it. Even if you have a loan on your property, the money you are paying off is going straight to your equity. In other words, it can be thought of as a piggy bank. If there is an appreciation or depreciation in your home value, you benefit. Appreciation is clear; your home increases in value. For depreciation, you can write it off on your taxes.
  2. Rent it. If you own property, PITI (Principal, Interest, Taxes, Insurance), and other necessary expenses may amount to a sizable cut off your pay. Consider renting out a room either through Craigslist or Airbnb (this is an affiliate code that will give you a discount for your next reservation).
  3. Keep it. Owning property should be a selective process. Choosing the right location is key to Real Estate investing. Consider buying a home in areas with low Capitalization Rates and hold on to your property, tend to it either on your own or through a property manager. If you chose a location near a college, an area with potential economic growth, and/ or you choose a place experiencing gentrification, you can benefit from property value increase.

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Bitcoin, Cryptocurrency, Finances, Retirement, Savings

Staying Crypto-Current

What is a Cryptocurrency?

Cryptocurrency is making the headline on news outlets all around the internet, but what is it? A cryptocurrency is simply a digital currency that is independent of centralized systems, namely banks. The very first cryptocurrency, the Bitcoin, was created in 2009 by pseudonymous developer Satoshi Nakamoto. We still don’t know who created it, but his/ her/ their creation has amassed a huge adoption by many around the world. Having been introduced in 2009, it’s price was nearly nothing, fractions of a penny; then it jumped up to nearly $20k. Today, a single Bitcoin costs around $13k and is one of over 1,000 other cryptocurrency, also called alt coins. The mainstream media for the years since Bitcoin’s inception have portrayed it in a negative light; though it has its share of objections, many are starting to invest in it.

The top three Cryptocurrency in the world:

  1. Bitcoin
  2. Ripple
  3. Ethereum

Uniqueness of Cryptocurrency

Cryptocurrency is decentralized, meaning that it is not controlled by conglomerates such as banks and government. In addition, it incorporates blockchain technology, which is an incorruptible digital ledger that keeps track of everything that has happened in the past and will happen with the coin in the future. The amount and the fashion in which the coins are distributed vary.

Ex) Bitcoin:

There are 7,200 Bitcoins produced per day, but there will be less and less as time goes by and will eventually halt in production at 21 million Bitcoins, in year 2140.

More Resources on Cryptocurrency

  1. Blogger Tim Kim:
  2. A list of Cryptocurrency being traded:
  3. Documentary on Netflix: Banking on Bitcoin

Buying Cryptocurrency

Coinbase is the most commonly used and user friendly platform for people to purchase Bitcoin, Bitcoin Cash, Ethereum, and Litecoin (ranked in the top 6 cryptocurrency).

Word of Caution

Although Cryptocurrency may be popular and have extensive reach around the world, it is very volatile. It has also been used wrongly for criminal purposes. If you are considering purchasing coins, you are doing so at your own risk.



goals, money, passive income, Savings, wealth

Simple, Smart Start to Investing

My introduction to investing

The very first investment I learned of was the Roth IRA. Upon hearing about it through a friend, I decided look more into it. My knowledge of investing was slim to none at this point. I discovered that it was a great investment strategy that many utilize. To briefly sum it up, a Roth IRA is a retirement account that allows you to put taxed dollars (limited) into a mutual fund of your choice to grow tax free so that when you need to access it, you won’t have to worry about paying taxes!

Why should I invest in a Roth IRA?

The great thing about a Roth IRA is that you can withdraw your contributions tax free. A traditional IRA would be taxed at the rate of ordinary income at the time it is withdrawn, making a Roth IRA favorable to those who speculate an increase in taxes in the future. Any growth within your investment is also tax free, but if you want to pull that amount out before age 59½, you will be taxed on your earnings. You can withdraw contributions to invest in real estate ($10,000), for certain educational expenses, and/ or health insurance if you are unemployed! Contribution growth can range depending on the mutual fund:

Example: Vanguard Mid-Cap Index Fund Admiral Shares (VIMAX) has returned over an average annual return of 10% for investors since inception, 11/12/2011.

How much can I invest?

A Roth IRA allows you to invest a maximum amount of $5,500, post-tax, per year ($6,500/ year if over 50 by the end of the year) as long as your yearly modified adjusted gross income is less than $120,000 (single) or $186,000 (married) for the year 2018.

Where can I start investing?

Highly rated platforms most commonly used to create Roth IRA accounts include: Vanguard, Fidelity, and Charles Schwab (if you choose to enroll in Charles Schwab, and use code: REFER616QU you can earn $100 for opening a retirement account).

  1. Vanguard: Minimum to start is $1,000; most minimums for investments are $3,000.
  2. Fidelity: At least $2,500 is required to start.
  3. Charles Schwab: $1,000; $100 if you do direct deposit, which is a great idea.

To conclude

Investing into a Roth IRA is one of the most popular ways to invest due to its tax-deferred growth. If you choose to invest, make sure to examine the mutual funds available to you: its history, current state and future potentials or lack thereof. Other than that, a Roth IRA is a simple, smart start to investing! Your thoughts are appreciated.



goals, money, passive income, rich, wealth

Why should I care about Financial Literacy?

What is Financial Literacy? Why should you care?

Let’s start with the idea of money. Money is a tool that is used to obtain something else. It is currently what majority of people use in order to go about their daily living: buying groceries, clothes, gas, rent, so on… That much is known to us all, but how we utilize it can affect our lives in drastic ways.

Money is a tool. It’s a tool that helps us buy what we need and want. Financial Literacy is simply knowledge that allows one to be a wise steward of their finances. Many of us were not taught Financial Literacy in our general education, therefore we lack understanding of even basic finances when we step out of college and into the world.

I, for one didn’t have someone to really teach me the importance of saving – and where to save – and spending wisely, until I discovered a blogger, Tim Kim. I started there by closely following blog posts, engaging in his posts, and buying recommended books to grow in my understanding of stewarding my finances. Then I decided to change my spending habits and work towards growing my money instead of simply getting by.

Do I want to continue in this lifestyle? Am I able to pursue my aspirations freely?     If money wasn’t a factor, what would I do with my life?

These are the questions I wrestled with. Eventually I decided that it was time to take action. I would work on replacing bad habits with healthy ones to guide me towards my goals. Ultimately, I am passionate about God and serving others. I want to spend most of my time investing into others, particularly young people, and guiding them to make informed decisions. I also feel deeply for orphans and widows; I want to help care for them in a greater capacity through financial means. To accomplish this, I need to start using the money I am allotted with more care and thought as the way I use it now will impact my ability to use it in the future. Developing financial literacy has already helped shape the direction in which I will go in order to obtain my initial goal of $10,000/ month in passive income by age 40.

I have been progressively widening my exposure in the finance blogging world and hope you can benefit from my journey. Please feel free to share your thoughts!