🎁 you can harvest investment GAINS too

Published over 1 year ago • 1 min read

Good morning Reader,

As I write this, Bitcoin is at $87,923, up almost 44% in six months.

Yet I still own almost no bitcoin. (I have a smidge on Coinbase from who knows where)

I'm not anti-bitcoin. I think it's cool technology albeit a tragic consumer of natural resources. I'm just anti-speculation. I also don't like how rabid bitcoin fans identify so strongly with their investments.

I don't need it in my life and so I haven't devoted the time and attention to learn it enough.

For those bitcoin aficionados, kudos to you! I've missed more bull runs than I've participated in and I'm OK with that. 😂

(View this email as a webpage)

🧑‍🌾 You can harvest capital gains

Everyone talks about harvesting capital losses but after the market went up up up this year, you may be sitting on some capital gains you'd like to realize.

If you are in a lower tax bracket (perhaps the 0% one), you could employ what's known as capital gains harvesting too.

👉 What is capital gains harvesting?

🚀 Can Rocket Money Help Your Budget?

When Mint closed down earlier this year, a lot of budgeting tools scrambled to fill the void.

One of them, Rocket Money, looked to fit a specific role in your toolkit - to help you manage, negotiate, and cancel subscriptions.

They offer a lot more than that but the big difference between them and other budgeting tools is their subscription management services.

We did a comprehensive review:

👉 Is Rocket Money Right For You?

🗺️ Why Economists Hate Tariffs

Tariffs have been in the news a lot because Trump wants to bring them back. Most people do not understand how tariffs work (the company importing the goods pays the tariffs, not the producer) and fewer understand the downstream effects (even the positive ones).

This 8-minute Wall Street Journal video does a great job explaining it, with real-life examples from Trump's first term:

👉 Why Economists Hate Donald Trump's Tariff Plan

What did you think of today's email?
✅ I Loved It! 🟨 It Was Okay ❌ Not My Favorite

Take care!

Jim

PS. Did you know that the S&P 500 has hit 50 all-time highs in 2024? It broke 5,000 in February and then 6,000 this month. Incredible! Stay invested folks!

(see our archive of previous emails)

You signed up for this newsletter via wallethacks.com

We respect you and your attention. If you no longer wish to get emails from us, you can unsubscribe and we will still be friends.

If you like sending gifts, we like getting them here - P.O Box 323, Fulton, MD 20759

Read more from Hi, I'm Jim Wang and I share my strategies and tactics for managing your money and enjoying more out of life.

📈 Could rates go UP?

Good morning Reader! When President Trump nominated Kevin Warsh to be Chair of the Fed, everyone thought it was because Warsh would be willing to cut rates. But the economy is doing too well. And he doesn't have the authority to unilaterally do it. There's a greater than zero chance that interest rates head higher soon. If you've been looking at mortgage rates in the mid 6% and remembering the days when it was below 3%, interest rates don't seem low right now. But low is relative. When the...

2 days ago • 3 min read

📈 to the moon!

Good morning Reader! The stock market has been on a tear recently, with the S&P 500 going up 8% in the month of May which puts it up close to 11% YTD. And that's before SpaceX joins the party! (to which I have mixed feelings) At the risk of sounding like a broken record - remember to stay invested. In related news, I had a reader tell me that he's been aggressively going after bank bonus offers and investing the proceeds (after holding back a bit for taxes). Many banks will give you cash to...

9 days ago • 2 min read

📈 reminder: stock market isn't the economy

Good morning Reader! The stock market is doing well but regular Americans aren't. The S&P 500 is up nearly 9% year to date but... ... consumer confidence is not good. And as long as the Iran war drags on, the longer oil prices will remain high. And high fuel prices are bad for consumers. I read someone make the claim that for ever week of the Iran war, we'll have a month of high inflation. While the equation is never that simple, we're seeing inflation and it's heavily influenced by higher...

16 days ago • 2 min read