Hyder A., Author at Finance Throttle

I JUST LOST $$$$$ IN CRYPTO

Post author:Hyder A.
Post published:June 28, 2021

Last week was a rough ride for all cryptocurrencies. Bitcoin dropped more than 60% from its all time high to $21,000. Ethereum and other crypto's followed Bitcoin in a downward path. China started to crack down on Bitcoin miners and restricted all financial institutions from dealing with crypto. Countries AND certain states are inviting Bitcoin Miners to move from China. The Dogecoin Millionaire, Pro the Doge, lost $2 Million. Now with everyone buying the dip, Bitcoin is now back in…

6 Month Blog Update

Post author:Hyder A.
Post published:June 24, 2021

Around Christmas of 2020, I decided to start my own personal finance blog Finance Throttle. My objective with this blog was to help people accelerate their net worth and learn more about personal finance along the way. Within a week, I created the blog and website through a Bluehost referral link and published the site on December 31st, 2020 for a January 1st, 2021 reveal. I started off publishing a new blog post EVERY DAY. This wasn’t easy since I had a full…

How Much Money do Engineers Make?

Post author:Hyder A.
Post published:June 21, 2021

While this is a personal finance blog, my career is in the field of Engineering. Along with my wife, we both earned our degrees in Industrial & Manufacturing Engineering from one of the top engineering schools in the U.S. After gaining some experience, we both went back to our alma mater and earned our Masters degrees. I earned my M.E. in Systems Engineering and my wife earned her M.S. in Engineering Management. Between us, we have worked in the construction…

Why a Health Savings Account is the Best

Post author:Hyder A.
Post published:June 17, 2021

An HSA or Health Savings Account is a type of triple-tax-advantaged account. Any money you put in is tax-deductible. Any money you make in the account is tax-deferred, and any money you spend on qualified health expenses is tax-free. What is a Qualified Expense? For HSA's, qualified expenses include paying for doctors visits, prescription and off the counter medication, hospital stays, therapy, and other medical related bills. You can also use your HSA account to pay for your spouse's or…

My Cousin Launched an Award Winning NFT Start-Up

Post author:Hyder A.
Post published:June 14, 2021

My cousin Aws Al-Hassani is a landlord, amateur boxer, world traveler, entrepreneur, gamer, eligible bachelor, and co-founder of the NFT start-up Auxiun. With Aws' passion for entrepreneurial-ship, he earned an MBA from Concordia University’s John Molson School of Business. For as long as I could remember, Aws was a huge gamer. He still has the original NES (Nintendo Entertainment System) and some old Sega's with hundreds of games between all of his gaming consoles. It was his love of gaming…

Why does the U.S. have a housing shortage?

Post author:Hyder A.
Post published:June 10, 2021

In the past year, homes have been selling well over asking price with many involved in bidding wars. These days, the root cause of everything is COVID-19, and this case is no different. 1. Population Shift The Stay-at-Home Order has forced many American's to stay at home for long periods of time. Those who live in small apartments in the city suddenly had the desire for more space and some land to play with. This caused a shift in population…

My Door Dash Spreadsheet

Post author:Hyder A.
Post published:June 7, 2021

In order to track my miles, hours, pay, fuel costs, and taxes, I created a spreadsheet in Google Sheets called the Dasher Tracker. Every time I end my Dash, I update my Dasher Tracker spreadsheet through my Google Drive app. The spreadsheet has built in formulas that automatically calculate your average hourly wage, average fuel cost, and taxes owed per quarter. This spreadsheet also works for Grubhub, Uber Eats, Post Mates, and other deliveries platforms. You can request a copy…

Start your F.I.R.E. – The Guide to Early Retirement

Post author:Hyder A.
Post published:June 3, 2021

F.I.R.E. stands for Financial Independence, Retire Early. The F.I.R.E. movement is a lifestyle movement with the goal of gaining financial independence and retiring early. F.I.R.E. became very popular with millennials starting around 2010. With F.I.R.E., you need to invest 50% - 75% of your income by increasing your Savings Rate. Your savings rate is your monthly expenses divided by your monthly income. Sounds impossible? The F.I.R.E. movement is more feasible for the middle-upper class and people who live in areas…

Paying an Extra $500 per Month V.S. Velocity Banking – What Pays Your Debt Faster?

Post author:Hyder A.
Post published:May 31, 2021

Let's assume that you just bought a house and took out a 30 year conventional $250,000 mortgage at 3% interest. At closing, they showed you that you would end up paying $129,443 in interest over the life of the $250k loan. Isn't that crazy? Let's also assume that you can save up to $500 per month. Instead of putting that $500 in your savings account, you decide to pay off your 30 year mortgage early. To calculate how much you…

Stock Market & Crypto Crash

Post author:Hyder A.
Post published:May 27, 2021

The month of May 2021 has not been kind to those who invest in crypto or the stock market. No one seems to know why the stock market is free falling. Meanwhile, China outlawing crypto in financial institutions and Elon Musk's tweets have caused nearly all crypto currencies to collapse as much as 50% in value. I have been avoiding checking my M1 Finance, Webull, Robinhood, and Betterment brokerage accounts because I don't want to deal with the stress of…