Hyder A., Author at Finance Throttle

ONE YEAR BLOG UPDATE – Should I Keep Going?

Post author:Hyder A.
Post published:December 27, 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…

$1000 INVESTMENT CHALLENGE – ONE YEAR UPDATE

Post author:Hyder A.
Post published:December 23, 2021

In 2020 I heard about the $1000 challenge between the online Finance community. It is a 1-year challenge where you invest $1000 in any way you want to see who makes the most money. Since the $1000 challenge has been around for a while, no one has done this challenge in recent times. I thought it would be an interesting experiment to try during the Pandemic. Because I run a personal finance blog, I decided to expand my experiment. I…

My Tech Stock Picks for 2022

Post author:Hyder A.
Post published:December 20, 2021

Based on my research, interests, and historical data, I believe these are the top tech stocks for 2022. Remember the title is "My Stock Picks". Be sure to do your own research before investing. Block (SQ) On December 1st, 2021, it was announced that Square changed their company name to Block. Square, the payment processing company popular with small businesses, still exists as a brand itself. Block is now the parent company that owns Square. Here are a few reasons…

Proven Techniques For Driving in Snow

Post author:Hyder A.
Post published:December 16, 2021

According to the U.S. Department of Transportation Federal Highway Administration, there are over 150,000 car crashes each year due to snowy road conditions. Over 1300 deaths and 116,000 injuries occur each year due to snowy and icy conditions. Over 70% of the U.S. population live in areas that see snow every winter and nearly 24% of all winter car accidents are due to snow and ice. It is important to know how to handle yourself in snow or ice. In…

Mega Backdoor Roth Conversion Going Away – Alternatives

Post author:Hyder A.
Post published:December 13, 2021

The Backdoor Mega Roth Conversion is a process used to build after-tax wealth in your Roth IRA. With the small $6,000 annual limit ($7,000 catch up limit) of the Roth IRA, it is difficult for investors to reach more than $1 million in their Roth IRA account. In addition, those who make a certain amount of money can no longer contribute to a Roth IRA. If you are filing single and your modified adjusted gross income is more than $139,999.99…

How To Create Your Velocity Banking System

Post author:Hyder A.
Post published:December 9, 2021

Step 1: Create a Budget The first step to creating your velocity banking system is to develop your budget. I know you probably hate hearing that word, but you really need to know how much positive cashflow you are bringing in each month. How much money can you really devote to paying off debt? What is a reasonable budget for groceries and eating out? What about entertainment? Check out my spreadsheets to help you budget. Step 2: Identify Wants Versus…

WHAT IS A TYPICAL SALARY INCREASE WHEN SWITCHING JOBS?

Post author:Hyder A.
Post published:December 6, 2021

Getting a new job can be a scary, crucial, and challenging choice, especially if you decide to change careers. It is a huge personal, professional, and financial choice. The most popular and sometimes only way to boost your pay or improve your benefits is to get a new job. Let's discuss. WHAT IS YOUR COMPANY'S MERIT INCREASE STRUCTURE? Consider your current employer. Do you get annual raises? If yes, how much? If no, why not? Are your raises based on…

Should You Use Your HELOC As Your Emergency Fund?

Post author:Hyder A.
Post published:December 2, 2021

For those not subscribed, Finance Throttle started as a personal finance blog that mainly focused on the concept of Velocity Banking. Velocity Banking is a method used to pay off debt quickly and grow your net worth through investing in income properties. Using Velocity Banking, you could own up to 5 properties outright within 10 years while earning rental income on each property. It utilizes lines of credit, like a Home Equity Line of Credit (HELOC) or a Portfolio Line…

Unpopular Opinion: The 2023 Acura Integra Is Reborn

Post author:Hyder A.
Post published:November 29, 2021

In the past year, Acura has been teasing the rebirth of the Acura Integra. In fact, they just recently showcased the 2023 Acura Integra Concept vehicle. The verdict? EVERYONE HATES IT. YouTube Comments are flooded with disappointment and comparisons to the Nissan Z and Toyobaru Twins- cars that the Integra does not even compete with. I personally think the new Integra is keeping to its true original form and I think it will be an excellent modern Integra platform. Hear…

I Accidentally Contributed Too Much To My Roth IRA

Post author:Hyder A.
Post published:November 25, 2021

As a personal finance blogger, I have multiple investment, bank, and line of credit accounts. I need to have these accounts in order to discuss or recommend certain companies on Finance Throttle. As I was reviewing my Betterment Roth IRA account, I read that I have $1,500 left before I reach the 2021 contribution limit of $6,000. With 1 month left before the end of 2021, I remembered that I have another Roth IRA with M1 Finance. All of my…