Good morning, wealth builders!

Here’s a fun random quote from Ashton Kutcher…

“The minute you start seeing your obstacles as things that are *made for you* to give you what you need, then life starts to get fun, right? You start surfing on top of your problems instead of living underneath them”

A great reminder: The problems you’re currently dealing with —> are necessary! They get you to the next season in life (where things are better and you’re crushing it!)

Embrace the obstacles this week. They are made for you 💪

OK, onto the money stuff 👇👇👇

TO DO

Adjust Your W-4 Tax Withholding

If you just received a massive tax bill this year (or a mammoth refund), it might be time to adjust your tax withholding. Filling out a new W4 form (takes 10 minutes) will ensure your employer is deducting the right amount of taxes so there are no surprises next year.

Here is a blank W4 and here’s how to fill it out. Once complete, give it to your HR department at work. (You’re allowed to submit a new W4 anytime you want)

Perfect tax planning means $0 owed and a $0 refund at the end of the year. (I don’t know anyone who’s actually achieved that, but it’s worth shooting for!)

SIDE HUSTLES

Summer Jobs for Kids 💰

Did you know… Kids who do daily chores (starting as young as age 3-4) grow up to be happier, more successful adults?

Teaching kids how to work hard (and get paid!) can boost their confidence, independence, and it’s a great segue into learning about saving/investing!

Kids can even open up a Roth IRA at any age! (But, they need legit earned income to contribute to it)

Before we go further — this is probably a good time to mention child labor laws. Definitely familiarize yourself with federal/state laws before putting minors to work! Especially if they’ll be using this income to invest in a Roth!

That being said, here are some summer job ideas for kids:

• Babysitting: There’s no age restriction to be a babysitter in the US (except in IL and MD) so kids can earn real money looking after siblings, friends, neighbors, etc. They could also offer “companionship services” which is basically just playing with other kids (for money) so that parents can take a break!

• Yard work: Lawn mowing, taking out/bringing in trash cans for neighbors, watering plants, spraying for pests, etc. Teens can easily search for interested neighbors and then set a weekly schedule and route. Many a young entrepreneur has started out this way!

• In-house services: Scanning old photographs, digital filing, help moving furniture or clearing rooms, tidying closets, car cleaning/washing, or other minor household chores. Pet sitting can be lucrative too! The best way to get customers is word of mouth or putting out flyers around the neighborhood.

• Model/acting/voiceover: Another job that’s legal at any age is being hired for TV, film, or commercials. Check out KidsCasting or Google to find local agencies in your town to register with. Be careful, there are lots of scams in the child model/acting space too.

• Make/fix/sell goods: If your kids are handy with tools, they might like thrifting! Buying craft kits and supplies to make things and sell them online can allow their artistic endeavors to bring in some revenue too.

• First real job: Most states allow teens to get non-hazardous employment with companies around the age of 15. Summer is a great time to help them create a resume, practice interviewing, and get some bona fide work experience. YMCA, summer camps, retail, food service industry… there are a ton of options.

Many kids are eager to start earning money. They just need a little encouragement and some hand-holding to kick things off. And getting money into their hands is one of the best ways to help teach them good habits.

Related stuff:

• 💻 HTM Blog: Investment accounts for kids

• 🎧 Pod Ep #587: Fast-tracking kids to financial success

TOGETHER WITH BILT**

About 78% of renters still pay their landlords with a handwritten check each month.

And while there’s nothing wrong with that, they could be earning rewards points via BILT for their rent payments! BILT is a credit card and rewards program that mails checks to landlords (or pays them via cash apps) and gives renters a credit card with points potential.

*One important catch — you need to make at least 5 transactions each month on the credit card to earn rewards. This isn’t too bad though, because it also offers 2x points on travel and 3x points for dining transactions.*

Might not be a great fit for everyone, but def something to look into if you’re a renter. Check out BILT here. Oh, and there’s a $0 annual fee 😉

REAL ESTATE

Good Years > Bad Years 🏠

You might have seen a chart like this before for stocks… Well, we thought it’d be cool to make one for real estate!

This shows the last 35 years grouped by the annual growth (or decline) rate in national home price within that year…👇👇👇

A few notes:

• Just like stocks, the real estate market relentlessly progresses over long periods of time. Most years (28 of the last 35) have seen positive growth, usually at a modest 0 - 10% every year.

• Unlike stocks where the average crash lasts for ~342 days, real estate crashes last for an average 2.5 years. They are less frequent, but slumps persist longer.

• No matter the year, if you are buying a home *within your means* that you will own for a loooong time, you can outlast downturns quite easily. As long as you don’t sell (or are forced to sell) then you never really “lock in your losses”.

All in all, sometimes it helps to zoom out for perspective. We know it’s tough for home buyers right now with interest rates and recent prices — and we’ll be talking about this a lot more on the podcast very soon!!!!

Related stuff:

• 🏠 Zillow: May 2023 Home Value Index & Sales Forecast (Zillow just increased their 2023 prediction… they think home values will grow 3.9% this year)

• 👨‍💻 HTM Blog: Developing a home buying strategy (applicable no matter what the RE market is doing)

• 🎧 Pod Ep #551: Is it a terrible time to buy a home?

ICYMI

Recent Chitchat…

Password Sharing 📺
Netflix began its crackdown last week on password sharing in the US, prompting users to confirm their home address (and limiting other locations from using that account). But it’s probably a good time to review all your paid subscriptions anyway!

Amazon Clinic 👩‍⚕️
Got a sinus infection? Amazon Clinic launched in Nov last year and helps treat about ~20 common health issues. Cheap, fast, and available in more than 30 states. My buddy just had a doctor’s appt, it was a quick 15 min Zoom call to diagnose an infection, and only cost $30 (not including meds). Not bad!

Yo Teach! 🧑‍🏫 
For all you wannabe teachers, more states are launching apprenticeships due to teacher shortages. Depending on your state/district/program you may be able to side-step paying for a 4-year college degree!

Best Cities 🎓
A new study via SmartAsset analyzed 187 cities and revealed the 10 best places for new college grads to earn money. It takes into account jobs, opportunities, salary, cost of living, and FUN potential!

Mental Health 📲
The US surgeon general issued a warning last week detailing the pros and cons (well, mostly cons 😅) of social media and its effect on our mental health and well-being. Great reminder to switch off your phone and enjoy *real life* this week!

FRIENDS OF HTM

Taylor Sohns, LifeGoal Investments

Taylor has an MBA, as well as CFP and CIMA certifications. And honestly, I don’t really know what all those acronyms mean… But I do know this: never challenge Taylor to a “who knows more about the stock market contest!” 🤣

Taylor’s gift in life is breaking down confusing macroeconomic financial news and translating it into plain English for us mere mortals to understand.

Check out Taylor’s Insta or TikTok if you wanna add some simple market and macro analysis videos to your feed.

That’s it for now! Wishing you a great week ahead, surfing on top of your problems 🏄‍♂️

Best friends out 🍻