Tax Planning
The Wash Sale Rule Explained
The wash sale rule exists so that investors do not sell stocks or assets to gain a tax write-off while essentially retaining their investment in the security.
Financial Planning
Budgeting
8 Smart Strategies to Cut Your Monthly Spending in Half
These eight strategies show you how to reduce monthly expenses and keep more money in your pocket.
Financial Planning
What Happens During a Recession? 7 Economic Changes That Impact Your Money
A recession is a broad slowdown in economic activity. Production drops, people spend less, and unemployment rises. Here are seven changes you can expect and how to protect your finances.
Investing
Leveraging Investments: A High Net Worth Introduction to Pledged Asset Lines
A pledged asset line is a credit facility that uses your investment portfolio as collateral. You pledge securities like stocks, bonds, and mutual funds to secure a line of credit, then borrow against that collateral as needed.
Financial Independence
How to Recession-Proof Your FIRE Strategy
A step-by-step guide to ensure that you plan for financial independence in a tough economy.
Financial Planning
Should You Hire a Wealth Manager? Here’s What to Consider
Evaluate wealth management firms based on factors such as their fee structure and whether they operate as a fiduciary for their clients. Busy professionals who prefers to make their own decisions can consider an AI based financial planning tool such as Planwell
Investing
Essential Insights on IRR: Meaning and Calculation for investments
(IRR) is the return on an investment which takes into account the cash flows and time scale. It is the discount rate that makes the Net Present Value of all cash flows equal to zero.
Financial Independence
Big Tech & Early Retirement: The FAANG and FIRE Connection
FAANG employees have many advantages in achieving Financial independence but need to plan their goals, guard against lifestyle creep and invest wisely. A key priority for tech workers is managing their RSUs while ensuring asset diversification.
AI financial advisor
Five Surprising (and Scary) Financial Facts
Americans save just 3.5% of their income. 42% of Americans do not have any emergency savings. The Average Credit Card Debt in 2024 was $6329. 27% of Americans Use a Financial advisor. The Median Retirement savings is $87,000 for American Families
Real Estate
The Complete Guide to Leveraging Debt for Real Estate
Leverage in real estate is the act of borrowing money to buy property. Real estate leverage is a good strategy for building long term wealth but comes with higher risks in market downturns and lower cash flows due to mortgage expenses.
AI financial advisor
How to Consult ChatGPT on Personal Finance & Where It Falls Short
ChatGPT is a powerful AI tool for personal finance. However Planwell's fully personalized AI financial planner and advisor uses its own financial models to ensure accuracy and provides superior data visualization.
Financial Independence
Chubby FIRE: The Balanced Approach to FIRE
Chubby FIRE involves retiring with a net worth of $2.5M to $5M and enjoying a comfortable upper-middle class lifestyle. Maintain a healthy balance between enjoying a good lifestyle while ensuring disciplined saving and budgeting.