Block is one of my favorite fin-tech companies. Block is the parent company of Square, Cash App, and more. Cash App is one of the top finance apps in the App Store and Google Play Store. The service is similar to PayPal and Venmo. It allows you to send, spend, or invest your money. You can buy stocks or Bitcoin. You can even bank with Cash App by setting up a direct deposit and getting a free cash back debit…
Crypto is a volatile asset that can be difficult to understand. With the IRS and SEC doubling down on crypto, you are now required to enter your social security number when joining a crypto brokerage like Coinbase. The IRS knows how much money you are making in the crypto space, therefore it is absolutely important to file your crypto capital gains and losses. If you have traded more than $20,000 within the tax year, you will probably receive a 1099-K…
FTX, before November 2022, was the second largest crypto exchange in the world with the lowest fees. Today, FTX is insolvent. If you had money in FTX, it is likely lost forever. While Finance Throttle has never promoted FTX, it was promoted by dozens of personal finance YouTubers and Bloggers alike. This whirlwind of a story has been unwinding a bit more day by day and it has been tough to keep up with. I can't explain it any better…
In 2021 I joined the $1000 challenge, a 1-year challenge where you invest $1000 in any way you want to see who makes the most money. 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 started my $1000 challenge in January 2021 by investing $5000 in FIVE different securities across FOUR categories: Crypto, Real Estate, Retirement, and an Individual Brokerage Account. I…
I recently stumbled on Figure who claims they are the fastest at approving and funding for HELOC's, or Home Equity Lines of Credit. Before I continue, Finance Throttle is not sponsored by Figure. I just found them interesting as an alternative to the traditional bank. Figure's HELOC is powered by the blockchain and operates in 43 states with more coming. With a short online application, you can get approved and gain access to your home equity in as little as…
I'm not sponsored by Betterment, but it is one of my favorite brokerages for passive investment. Betterment is a Smart Money Manager, meaning just about everything is automated. They are one of the early adopters of robo-advising and robo-investing. I have had my Roth IRA with Betterment for over 6 years and it has performed well. I also use Betterment for my HSA (Health Savings Account) investing and I use Betterment's Cash Reserve high interest account to hold my emergency…
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…
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…
Last week, Bitcoin crashed by nearly $9,000 after reaching an all time high of $66,999. This caused all crypto's to drop and consequently encouraged thousands of people to buy the dip. With all of the attention on Bitcoin, I thought I should remind people why Bitcoin is still expected to reach $500,000 within the next few years. Bitcoin and other cryptocurrencies have been catching on. A growing number of companies have been accepting and investing in Bitcoin. Paying with bitcoin…
At the beginning of 2021, I got the crypto bug and started investing in Ethereum and Bitcoin through Coinbase where I earned $10 in free Bitcoin when I signed up. My friend introduced me to Bitcoin mining as he has been doing since 2013. He had 8 or 9 mining rigs setup in his house and was making $100 per day. Mining Bitcoin is the process of verifying transactions on the block chain. By mining, you are lending your computer's…
