Here’s Journal Club 06-16-23! Every week, I hold a JOURNAL CLUB. After filtering through the articles on the web, I present a few that impacted my life this week. Be safe and stay well!

• Ever wonder how millionaires store and grow their wealth? Do they stash it in hidden places or invest it in various assets? After all, understanding the financial habits of wealthy people can offer valuable insights into our own financial well-being. Would you agree? On that note, The Physician on FIRE shares different strategies for employing millionaires to protect and expand their fortune in the article – Where Do Millionaires Keep Their Money? [It’s Not Where You Think].

• Investing in short-term rentals is considered an excellent investment strategy among investors mainly due to the cash-on-cash returns and potential property appreciation. But did you know it also offers several avenues to lower your tax burden and foster long-term wealth creation? If you’re looking for some ideas, The Real Estate CPA shares various tax planning strategies in the post – How Do I Use Short Term Rentals to Reduce Taxes On My W-2 Income?

• Are you familiar with the concept of the “big rocks?” In simpler words, it’s an approach to prioritizing different things and values ​​in your life. According to the author of Cutting Through Chaos, this methodology can be applied to increase your productivity and your overall life choices. And by doing so, you could build a more fulfilling life. Interested to learn more? The author shares more about it in the article – What are your big rocks?

• We live in a world surrounded by technological advancements and luxurious temptations, making it harder to choose between living frugally or giving in to our desires. And these decisions are particularly challenging when you’re pursuing financial independence. So, how do you manage the complexities of indulgence alongside living responsibly? Mr. Money Mustache has the answer to that question and more in the post – Frugal Man Buys $52,000 Car – Why??

Read any interesting articles? We’d love it if you could please take a moment to share them in the comments below!

Thank you for reading and sharing,

Peter

Disclaimer: The topics presented in this article are provided as general information and for educational purposes. It is not a substitute for professional advice. Accordingly, before taking action, consult with your team of professionals.