How We Reduce or Avoid Taxes With Tax Efficient Investing | See Our Portfolio (Ep. 5)

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Our Rich Journey - How We Reduce or Avoid Taxes With Tax Efficient Investing | See Our Portfolio (Ep. 5): It’s time for another portfolio update! This video marks our fifth update in this stock portfolio series. It all began in March 2020, when we invested $5,000 into three different index funds. Each month after that, we’ve invested $1,200 into this portfolio and we’ve opened up our portfolio to share how it’s doing. And not only do we share how our portfolio is doing, but we also answer investing questions. This month, we address a question related to taxes. Specifically, in this video, we talk about tax efficient investing and the best types of investments to put in tax advantaged accounts versus taxable accounts. If you haven’t watched this series from the beginning, make sure you go back and watch each monthly update since March. It will give you a lot think about when it comes to investing!!!
▸▸▸Check out some of our other videos!
We Invested $5,000 In the Crashing Stock Market | See Our Portfolio (Ep. 1):
• We Invested $5,000 In ...
$200K Homes In Portugal | See What $200K Buys You in Lisbon, Porto, the Algarve & Central Portugal:
• $200K Homes In Portuga...
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#FinancialFreedom #HowToRetireEarly #FinancialIndependenceRetireEarly

[@OurRichJourney]

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[@patrickgliem]

Over the past year or so, I've had some money sitting in a savings account consistently for the first time in my life. I came across your channel by chance despite never seeking out financial knowledge/advice previously. I feel like I speak a whole new language now.. Thank you for so openly sharing what you've learned and contextualizing complex topics for the average person. I'm on the journey :)

[@OurRichJourney]

Wow - that is so exciting to hear! So glad you're learning more and that you found our channel!

[@dwon82]

I agree.

[@Dr.McVeeNo]

Between you guys, EYL, Wall Street trapper, and Mark Monroe I’m learning so much. I don’t think people understand the importance of having access to meaningful knowledge. It literally is the difference between being a cog in a dead end job and taking the steps to buying back your time: our most important asset. I appreciate you guys for the knowledge. These kinds of discussions have been missing from our culture. I’m on the journey.

[@emmitttrill5867]

Big facts. Our community has been lacking this knowledge but thanks to all you've named are giving the much needed information. Now it's up for us to put action behind it. I went to a EYL event in Atlanta. Rashid and Troy are good people

[@faisjafri]

wallstreet trapper ? 😂😂

[@Omar-kt6in]

@@faisjafri look him up...

[@uknasa007]

@@Omar-kt6in who is wallstreet trapper

[@lisamills6745]

I LOVE MARKET MONDAYS!

[@pourquoi475]

As a tax practitioner, I give you guys two thumbs up 👍🏽👍🏽. I recommend you to my younger clients just starting to invest. Well done and thanks for the great work. My kids now follow the Junior channel, too!

[@DividendGrowthInvesting]

This is one of the many reasons why I love your channel! Talking about taxes is not the sexiest topic and doesn't get the most clicks... but it is so important for new investors to understand!

[@black1985ish]

Should I have a Roth IRA and a traditional Ira if I’m also invested in my companies 401k plan?

[@WisdomWealth77]

Avoiding taxes is 100% legal. The wealthy take advantage of this. 👍🏼

[@OurRichJourney]

Very true! Thanks for watching! :)

[@realwarriorscholar]

Everyone should minimize taxes. We are already taxed on salary, gas, food (not every state), property, cars, electricity, water, WiFi, etc. etc. The government is getting its pound of flesh.

[@marysekulic7158]

Just because it’s legal, doesn’t mean it’s moral.

[@zipinha]

@@marysekulic7158 lolol. Tell that sentence to governments...

[@mphomolapo1562]

@@marysekulic7158 lol. *Be broke then, but dont pretend like letting your family lose unnecessary money is moral.* Like a PP said: we already pay taxes on things that matter (property, roads, schools, etc.) Giving any extra to be spend unwisely by the gov't is not attractive.

[@shawn4692]

Best teachers on the internet for financial education, I'm giving all of my friends a heads up that the most postive and most helpful youtube channel for a financial education

[@multifxinc2561]

Everyone starts as a trader. When the stock keeps dropping they become investors. Thank you for all you do and God Bless.

[@obugabriel5794]

Came into this country as an immigrant without any knowledge of whatever, but know that I need to do more than work 6 days a week. Stumbled into your channel while researching and educating myself about financial literacy. Started saving 10% in my 401k from my first job, but after binge watching your channel, the goal now is to max my contribution in both 401k and Roth. It's not going to be easy but its doable. Thanks you guys for this abundant free knowledge, bringing my friends to this channel to benefit as well 👏👏👍🔥

[@gailmariage5318]

Watched part of your daughters video this morning. Our 28 year old son wanted to start investing in stocks when he was 8 years old. We had no idea how to do it. He would have had alot of money by now. Wish we would have had your videos back then.

[@msjenwebb]

Hands down the BEST investing channel on KZbin!! Period. End of discussion. Yes so glad your daughters have a junior channel! I have referred every young person I know so they can grow up to be financially literate and hopefully wealthy!

[@laurentc5453]

I'm confused. With a 401K account you have to wait till you are 59 in order to take the money out. So that would defy the principle of retiring at early age and living off your sweet dividends. With a Roth IRA account, I understand you can take out the invested capital at any time [because the invested capital has already been taxed]. but you have to leave the dividends in. So you could leave the dividends in the account and take out the invested capital whenever you need it. Except Roth IRA have a limit on invested capital per year [6000$ I believe]. That's better than nothing but 6000$ a year is not enough to sustain yourself. It's probably a good idea to have a Roth IRA account along a standard brokerage aside though. At least you have little portion of your dividends that are not taxed.

[@donnettadavis6809]

Thanks! Enjoying this series so much! I'm on the journey and am planning to retire by 49! I'm on F.I.R E, thanks to you both! 🔥🔥🔥

[@kevinkur]

I have VTI in taxable and FSKAX in Roth. I’m 20 years old and for me right now keeping it simple while learning as much as I can is the way to go for me. Thank you both and also my “guru” JL Collins

[@rickeymoore6720]

My wife and I have recently came upon your channel,both of you are a breath of fresh air,we will continue to take your advice we are going to get your book ,we are senior citizens years ,56 and 60 thank you we believe in you keep us up to date, we're on your train

[@AfroSenpai]

I'm currently rollin' with an HSA, 457, Traditional, Roth, and Brokerage Account, and our kids have a custodial, thanks for the great vid.

[@carolwilliams8840]

I would like to thank you not only for your videos but for also allowing your girls to make videos to show children how they can save, invest, and spend wisely. I share them with my grandchildren and discuss money with them. Proud of your whole family. Thank you again.

[@rickybreaux2607]

I’m 55 and plan on retiring in about 7 years. I just started saving after taxes in my 401k and am putting into a Roth also so I can have some tax free money in retirement. Also when I retire I’m going to put some more in Roth’s. You need to do a video on Roth’s so we can understand it more. I wish I understood it more 30 years ago. 😞

[@anthonyjongco968]

Love this channel, I’ve been following for a long time. Most of the time the info is review because of all my personal research, but this one has clarified this topic a lot. You are all a wonderful family

[@OurRichJourney]

So happy it clarified the topic for you! Thanks Anthony!!!

[@stefanossmitty3318]

Another great video. To echo what someone said in another post, I’m not sure how I stumbled on your videos but I’m glad I did. I’ve always been able to manage and save money well, but I was always skeptical to take the leap into investing because it seemed so overwhelming with numbers being thrown at you and the feeling that you need to know how to read pages of balance sheets, etc. It doesn’t help when you don’t grow up in a financially savvy household and you have no “village” to teach you. I saw your video about how easy it was to open an account and start purchasing index funds. I took the leap and it’s fun to watch investments grow without lifting a finger. I sing your praises to everyone within earshot. Thanks for doing this and making it relatable, engaging, and fun. Kudos to you 👍🏾👍🏾

[@Charmed077]

Another great video! It would be awesome to hear how moving abroad has impacted your tax situation, such as what types of taxes you have to pay for the US, as well as in Portugal.

[@mikeb5415]

Love the content, volume, and thoroughness of your videos! You guys are doing an excellent job...much appreciated!!!

[@brianblueskies]

Do you plan on doing a video on Portugal/expat taxes? (Do you pay anything additionally to Portugal after paying US taxes? Do you exclude any foreign earned income? Is your KZbin income earned as foreign or US? How does this impact your Roth IRA investment?) Would love to hear how you do it!

[@shawn4692]

Berkshire Hathaway is a great investment for a taxable account as well. They haven't ever paid a dividend because they retain all earnings and then buy new companies with their earnings and insurance float

[@StGilez]

Great to watch your videos. One burning questions I have after watching this one is: If you max out your tax advantaged accounts (and assuming most of your wealth is in these types of accounts) what do you live from? In other words: most of these accounts you can't draw money from (until 59.5 age), and you're quite a bit younger ;)

[@favored4life]

Their tax advantage plans allows for dividends now and maybe passive income from RE.

[@rabidfollower]

Sometimes even a low-yield bond incurs big tax if you own a lot of shares of that bond. In my taxable accounts I only put in tax-exempt bonds. I have $300k in bonds, so even low yields would kill me with taxes.

[@mandywhorwal642]

Putting in a request for a video on how, when, and how much we can/should take out of our accounts. Thanks for all of the great content.

[@OurRichJourney]

Thanks for the suggestion Mandy!

[@christiane785]

Love your content! Can you guys do a video about Tax Loss Harvesting? That's one of the features that Betterment promotes a lot.

[@rashidaa7500]

I literally had this thought after watching another video-how do I account for taxes-and then this video popped up in my feed. Always great content!

[@QuesttoFIRE]

Thank you for making this video! Taxes are SO important in the investing community, but I feel like most only mention the topic in passing. This is crucial info!🙌🏻👍🏻🔥🔥

[@UrbanFinance]

Great information. Just knowing that your REITs should be in your tax advantage account is so important. Love this!

[@sarahhicks3971]

Yay! Sunday & my favourite you tubers 😊 Have a great week guys

[@OurRichJourney]

Aww, thank you so much Sarah!!!

[@blllywilder8299]

Exactly! Being able to work because you WANT to, and not because you HAVE makes all the difference! When your side hustles make more money than your job you’ll be on your path to financial freedom🙌🏿

[@sachastayswi]

Nice! Now, again, how are you guys managing your fidelity and vanguard accounts from Portugal? How about taxes you pay as expats?

[@donaldlynch4509]

Hey guys wanted to say that I have listened to other shows. They make things sound so difficult and use over the top language. With that said I really appreciate you guys keeping it simple and trying to bring all of us up to your level. Not assuming we are already there. Keep up the good work.

[@himadrisdeb]

Dear Christina and Amon, Great content! Small question please, what are the tax implications if moving to Portugal? Is it still possible to invest in Vanguard accounts and get the benefits? Thanks!

[@capri8872]

Great Video, thank you! I usually get mixed advise on this topic: pre-tax vs tax free retirement funds. Some will say you're investing more $ in the market if tax free (true) & others say why pay all your taxes later (true as well). I say it depends on our tax bracket when you retire no? ours will be less when we retire but someone will say yes but taxes only increase over time therefore paying them today is better. so confusing, please discuss more next video? :)

[@hulenbryant5637]

Dania, it is very true depends on where you are in retirement and income level. Example, my wife will retire before I do (we are in a high tax bracket now). So we put her retirement in PRETAX because the taxes on that income would be 25-28%. I put mine in a ROTH, because I won't be able to even get to that money for at least 9 years, so I want that money to GROW tax free. (Assumption being that my growth over 9 years will be at least 28%). No taxes when we start taking it out.

[@jensarkany8005]

Hi! I love you guys! Any chance you could do a video on the best countries to live in for taxes? I’m in nursing school and thinking about moving out of the US when I graduate.

[@daveschmarder-1950]

I'm able to "modulate" my taxes with brokerage, tax free and tax deferred accounts. I use spreadsheets and a tax estimator. The outcomes have been outstanding. I'm doing Roth conversions with any excess space in the 12% bracket. BTW, heard from my brother in Portugal today. He and his wife, after 3 years, moved out of Lisbon. They bought a 2 floor semi detached home somewhere near Porte da Piedade. He is about 25 years older than you.

[@glorias.2930]

You both are gifted teachers! I can't wait to take your course. I loooove the way you explain everything!

[@MariaFlores-dc2uu]

Thanks To Your Channel I just recently Opened My First Fidelity Account! Thank you guys So much For All Your Knowledge!💛

[@sandymonteiro2719]

Great content! Have you ever invested in the wrong account.please Make a video of a bad experience to stay away from when it comes to investing.🙏

[@staphacharleme4154]

This kind of information is pure gold. Thank you!

[@nitanice]

My dad lived and taught in Northern Cyprus for almost 20 years, and I know he enjoyed a tax benefit from it. Maybe at some point down the road a video on taxes and living abroad???? Even if it's just a generalized one. Thanks for all the great info! :-)

[@OurRichJourney]

Yes - a video on taxes in Portugal coming! :) Thanks Anita!

[@moekyawphoto]

@@OurRichJourney Please also cover in the same video if expats are required to file/pay state taxes as well. Thank you.

[@williambetzelberger6128]

Check out Nomad Capitalist

[@Yasmin__S]

Excellent video! Thank you for ironing out the significant benefits included within Tax Advantaged Accounts!

[@Zhello79]

This is good to know. I started investing last month and I began with Robinhood. Always looking to learn.

[@OurRichJourney]

So glad you're learning! Thanks Zhello!

[@nickthestick3533]

Why did you guys switch from Vanguard to Fidelity?

[@Je.rone_]

19% isn't bad, and I've legally never paid federal income taxes, but 2020 has thrown a wrench in that record🥺

[@DedraFabreTravelingChronicles]

You need to do a video and share your knowledge :-).

[@Je.rone_]

@@DedraFabreTravelingChronicles that's a good idea🤔

[@DedraFabreTravelingChronicles]

@@Je.rone_ Taxes kicked my butt this year. So I am researching now what I can do differently.

[@digitaldivvy]

He’s been broke but now uncle sams sending him checks

[@Maremare680]

I have seen you commenting under David Ramsey’s channel, too 😂

[@jorgealmeyda5222]

Another excellent video. Thanks!

[@claudiaibanez-rodriguez4943]

Hey guys, I really admire what you’ve done. Total role models. ;) I’m at the beginning of the journey is there any way you can please make a video showing where you hold your emergency fund and short term savings. I would very much appreciate it.

[@jamesspitzercashout]

Always great to see you both. Hope you are Safe, healthy and happy.

[@OurRichJourney]

Aww, James - always love seeing your comments and positivity! Best wishes you to you and your family! :)

[@tameralynn7579]

The way you both share this information is wonderful. Easy to understand and I love the visuals! Thank you!

[@Tonymanero1960]

I am retired at 60 years old with a portfolio of high ''6 figures ( not including future S.S which I will take at 62). My strategy to avoid the taxman is to live on a lot less money to pay fewer taxes. Uncle Sam won't go after the poor as much as the rich,.because,...poor people don't have anything,...so I keep my retirement income under a certain amount to get all the tax advantages. I can be perfectly happy living on less.

[@megfrank8372]

Hey guys! Love ur content! I wanted to ask which acct u invested those 3 funds that r mentioned while u discussed ur portfolio, the taxable acct ( individual brokerage ) or the tax advantaged acct ( IRA) ? Thx guys!

[@fayezak]

Wondering the same question!

[@stevenguevara4387]

A lot of your videos show you guys buying REIT indexes in taxable accounts. That’s pretty tax inefficient. Can you talk a little about why you do this? Appreciate you and your channel, thanks!

[@brandonrob170]

Great video!... love the kids video as well, so creative and fun! I will definitely save them for my kids to watch.

[@OurRichJourney]

Aww, thank you so much!!! They had a lot of fun making the video! Thanks for sharing! :)

[@larryberman3837]

How are you hedging your currency exposure? you are investing in dollars but living/spending in euros. This year you have lost about 7% of your buying power. This would be an interesting topic to discuss.

[@kirkydaturkey]

Agreed. Very interested in this topic.

[@vijaykarthik1000]

How you are averaging it down? I'm watching from April about this episodes on Fidelity investments. Please share how you are dollar cost averaging strategy in your next episode. TIA and God bless you all!!!

[@jgtv6269]

I think they said they are investing 1200 a month into fidelity

[@millennialfire8596]

Great Video! I know you guys also invested in real estate on your road to financial independence. How did you decide what amount of money to set aside for your real estate investments vs. the stock market?

[@kokitassjr2926]

Amon and Christina..... thx for the income tax content on your video. There is a lot more to consider when it comes to investments on tax advantaged accounts. My advice to your audience is to seek the proper guidance with a tax professional as many times just researching the IRS publications is not the easiest path in understanding the application of the tax rules. A tax professional can break it down and provide precise and helpful guidance. If you need help on any matter involving individual expat or domestic tax, feel free to reach out to me directly. Good luck!

[@jocelynchoong7956]

Thank you so much for your valuable lessons!!! Both of you are my favorite KZbinrs!! Great information on how to minimize taxes! Amazing job! Have a marvelous Sunday!

[@OurRichJourney]

Aww, thanks so much Jocelyn! You are so kind!!!

[@jocelynchoong7956]

Dear Christina and Amon, you're most welcome!!

[@TheDebtLessCrew]

Good information on how to reduce taxes. It's surprising how many other IRA out there. Also, your stock portfolio are looking good. Looking forward for the next update.

[@learningwithjennyz753]

I looooove all your videos, very educational and I learned a lot from them. Thanks so much, I actually followed some of your advises and it seems like working on my end. 😊

[@mosaicmusings8705]

When you refer to "long term" - what range of years is long term? Would like to hear your thoughts for those in their early 50s?

[@mrright1716]

Time is your friend. Keep investing, our country will be ok.

[@OurRichJourney]

Yes, Mr. Right - You are right! :)

[@mittea]

Great video! I do have one question regarding non-taxable retirement accounts. What is the benefit to funding a 401(k) or IRA if you'll retire in your 30s/40s and won't be able to touch the money for many years without penalty? Is there a way to gain access to this money before a traditional retirement age?

[@nikiclaypool8800]

Yes, with a roth ira ladder. They have a video about it

[@danielleharrison8440]

Maybe you mentioned this in a previous video and I missed it, how do you determine how much you buy of each stock with the $1200?

[@monsemoreno5247]

Though my job I have access to an After Tax 401K which means I can move the money into Roth IRA. This means I put almost no money into Brokerage since I have so much room to roll-over into Roth. My goal is to do 19.5K pre-tax and 19.5K post-tax.

[@kokitassjr2926]

Monse Moreno, this is a good strategy. Upon retirement, you will pay taxes on your 401k distributions but no taxes on your Roth IRA. Your ordinary tax rate is expected to be lower at retirement so you are saving wisely.

[@t.h.nguyen5193]

I always feel inspired when I watch your videos. Plus, I learn more from watching your video than one semester of finance at business school. I wish they had taught me real life examples instead of non-applicable theories. I used to invest in my 401k and IRA accounts until quit my job to have my daughter. I went through multiple life changing events that caused many setbacks and I am restarting my journey again. Just paid off one of my credit card balances. Hurray!! Wow, I love sharing that great feelings of having incoming monthly revenue when you are already retired! Thank you Amon and Christina from the bottom of my heart! How's life is Portugal? Love & Blessings to you and everyone!

[@peacepage]

Both of you are smart and honest. I have learned to not gambling with my money,i have lost thousands on day trading and scammed on bitcoins thousands too. God bless you

[@gardeniasaleem234]

love your channel so easy to understand thanks .nobody talks taxes but such an important topic.

[@matthewknights77]

Thanks again for another fantastic video keep up the great work its life-changing for me, and many others I’m sure!

[@vernonthiede8439]

You guys are wise. Wish we had more Americans like you guys. Too bad most of our fellow Americans do not heed such financial wisdom. When it comes to Taxes the key phrase is "Tax Compliant". We Americans who live abroad still have to pay US Taxes and must be "Tax Compliant". Only two countries do that. The USA and Eritrea. We wise Americans press our money into Roth IRA's. We also move to Tax Free states like Texas before heading abroad to forever end paying any State Income Taxes. We pay the taxes up front and the rest of the gains remain tax free. Still we have to fill out the IRS form every year and pay any taxes due, if any. If we make too much outside of Roth Gains we have to make Estimated Quarterly Tax Payments and we do so. We also expect the American Government to be efficient with Spending. But they are not. That needs to change people!

[@PecosHank]

Appreciate it as always guys!

[@OurRichJourney]

Thank you!!!

[@wmmarquez]

Great info. Thanks!

[@solamenterunning5175]

Another awesome video! Thanks Amon and Christina! Please consider making a video on rebalancing your portfolio. Stay safe!

[@OurRichJourney]

Thank you! We have a video on rebalancing. You can check it out here: OUR STOCK PORTFOLIO UPDATE | We're Rebalancing Our Portfolio (Ep. 6 - May 2019) - kzbin.info/www/bejne/g6GloHieqLx4b7s

[@solamenterunning5175]

Our Rich Journey thanks a lot!!

[@meryledwards787]

Hi guys, thanks for these videos really explains a lot. I have these same three among others (ETF) in a taxable Fidelity account. Would this be better in a Roth IRA?

[@lamonttaylor5061]

I say thank my people and the great information you provided of how to invest. God-bless you And keep up the good work.

[@bredav7196]

I look forward to your videos each week. Thank you for keeping so many of us motivated and focused on our financial goals.

[@onlinestorytime6875]

This is the second video of yours I've watched and I already love you two!

[@javierorivera]

If you were planning to have an account for ETF's and another account for Index Funds... and one account is a regular account and the other one is a ROTH IRA... which account would you use to trade ETF's and which one for Funds? I'm thinking about the effects of realizing capital gains while using index funds versus tax repercussions...

[@supersonicgamer1551]

You invest on Vanguard and Fidelity? I've watch other of your videos where you state you only invest with Vanguard. Sorry I'm confused. I'm starting to watch your videos, so I probably missed something. I'm learning so I can start investing. Thanks for the videos and teaching.

[@DecebalDobrica]

Guys, did you ever make an episode like this for Portugal ? I get the value for Americans in enumerating these type of account, but as a remote worker looking to move in Portugal I was hoping to learn from you if there are similar account there or if I should rather pursue other residences like Andorra or Lichstenstein, thank you, I appreciate your content as it is a good guideline even if the US investing vehicles are not available to myself!

[@musicalvoice7990]

do you put fzrox in tax advantage or regular brokerage?

[@clarylizperalta9957]

Was waiting for this video!!! :) THANK YOU SO MUCH!

[@TheFasterFreedomShow]

Great amazing video! We just did a live about the top 3 tax benefits of real estate investing!

[@OurRichJourney]

Thanks! Glad you liked the video!

[@TheFasterFreedomShow]

Our Rich Journey Your content is top notch!

[@matthewslowinski8563]

Loved the video ... a caveat about employee based approved vendors 2 things .. 1 . what vendors and funds the organization offers and 2 usually (smh) those funds have high fees. I’m a teacher and my district only offers “approved vendors” with “approved funds”. Luckily did my research.

[@jeanpolice3044]

Super video. One of the most important things in investing !! Taxation. Special thanks for this jewel ! ⭐

[@KingWillSkill]

Y'all are the best.

[@itzyaboikdo]

so it's better to invest into index funds in a taxable account like robinhood or fidelity? wouldn't the liquidity of the taxable account make it tempting to withdraw from those index funds which would erase those compound interest gains?

[@slumdogmusic1]

Love your channel. I love how you organize and present the information. Excellent

[@lanbruno8435]

Great video as alway, I have been learning a lot from from both of you. Thank you! I've investing 15% total on Roth IRA, I have 6 months of emergency fund. Should I continue to pay extra on my house or invest in brokerage account and when I have enough money from brokerage account then pay off the house?

[@anastasiarenaud2568]

There is not enough info to advise you. But just based on what you have said it hard to understand your risk tolerance. Even if your job is stable I would increase emergency fund to 12 months esp if you are risk averse. We have the worst economy in a century and if you were laid off 6 months of saving plus unemployment would only get you so far esp if it took you 6-12 months to find a job. After that it depends on what your goals are, your time horizon and the interest rate on your mortgage. If your mortgage interest is fixed and 6% or less and you have a very long time to pay it off it might make sense to invest in a brokerage account and see if you can get a higher ROI from a brokerage (more than 6%). A hybrid strategy could be 1) larger emergency fund 2) pay 13 mortgage payments in the year 3) invest any extra money into brokerage account. But honestly my suggestions would change if I knew more about you.

[@demancey]

I’ve been waiting on this one for awhile. Thanks family!

[@OurRichJourney]

Perfect timing! Thank you!!!

[@jessicabrown6279]

Thank for this video! Are you able to talk about taxes when it comes to side hustles or other forms of income? I have been curious about this as I look into more ways to increase my income. I have heard of people declining raises at their 9-5 because they are 'afraid' of an increase in taxes due to moving up in a tax bracket.

[@OurRichJourney]

Yes, we'll have more tax videos! Thanks for watching Jessica!

[@kokitassjr2926]

Hi Jessica Brown.... a side hustle income will be taxed as your regular earnings do. Whether you get a form W-2 for the extra income or whether you are a freelancer or self-employee, your income will be taxed as ordinary income with no special tax treatment. As a self-employee you will be able to deduct all the expenses associated with the production of the income. Declining a raise for avoidance of tax makes no sense because you only pay a percentage of tax on the income and we all have to pay taxes ultimately. Contact me directly for more. Good luck!

[@noellehilgesen612]

Really appreciate your consistent videos. We know our fire number and have joined the journey ; ). I’m hoping that you will do a video about how to adjust once you’ve reached fire. Also how that works living abroad but still investing in us stocks.

[@AgendaVideoProdns]

So can you offer any ideas as to avoiding double-taxation if an expat is planning on using ROTH accounts for funding retirement? It seems Portugals tax treaty doesn't recognize the ROTH tax-free status in the U.S. which would make the whole idea of having a ROTH pointless for retiring in Portugal. Would love to hear some thoughts on this and get any suggestions.

[@marketbeans]

Great video 👏🙏 I just never understood how much ended up retiring early on to be in a safe zone for a family of four 🧐

[@ilsevanheerden4976]

Our Rich Journey, can you advice on tax advantage accounts in Portugal? What would be a Roth equivalent?

[@najiHER]

Thank you for the video. I just opened a roth and brokerage for myself and 2 custodial accts for my kids and now I am confused on what etf's to add to my kids accounts because their only option is a custodial acct right now I think but if anyone can advise me I would greatly appreciate it. I already bought vti, vym, voo, bnd, vnq for my kids but I'm sure that might not be wise but my brain is on overload from all the youtube videos lol. But I have to keep going to at least have my boys 2yo & 4yo financially FREED God willing! Stay blessed everyone.

[@rw30supa]

Great videos and information. Question how do you know when to sell? How do you analyze to determine the peak a fund may hit? Or does it matter since you are constantly buying at different rates?