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Digital nomad living on the road and working toward financial independence.

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harlanvaughn

🏝 When I recommend investment accounts I almost

🏝 When I recommend investment accounts I almost always recommend the mighty Roth IRA. You contribute money you’ve already paid tax on - and when you withdraw your money in retirement you pay NO additional tax. 💁🏻‍♂️

🧿 This protects you against tax increases in the future. In exchange, you don’t get tax breaks in the year you contribute. This isn’t an issue for most people, but something to be aware of.

⚠️ Income limits: you can’t contribute to a Roth IRA if your Modified Adjusted Gross Income (on your taxes) is over $140,000 if you’re single or over $208,000 if you’re married filing jointly (IRS jargon that basically means no Roth IRA for you if you make more than $140K as a single person or $208K if you’re married).

❓ So where can you open a Roth IRA? Pretty much any bank! However, I recommend @fidelity , @charlesschwab, or @vanguardgroup because they have the best index funds (see my previous post for my list of favorite funds to invest in!).

You can also use @bettermenthq, @acorns, or @stash_app if you want an app to do it all for you. #madeintheshade 😎

See the 👉 #linkinbio for links to all of these in an article i wrote for you. The setup process takes about…

five minutes. 🖐

So… if you have five minutes, you can do something to start building your future wealth. 💅

For best results, contribute early and often. 🤑

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#buildyourwealth #protectyourfuture #generationalwealth #investing #yourmoneyoryourlife #investinyourself #everydollar #compoundinterest #financialfreedom #millenialmoney #fire #personalfinance #retireearly #financialindependence #outandout #howtoinvest #indexfunds #frugualliving #slowandsteady #getrichslowly

🍻 Always a great time with fellow @boardingarea

🍻 Always a great time with fellow @boardingarea blogger and old friend @baldthoughts for beers, laughs, and some time to catch up. What a perfect evening during my month in Nashville. ✨

Check out his page for credit card analysis, personal finance tips, and his exclusive @hoppassport promo code to save on some brews! 🎉🍺

#boardingarea #bloggers #personalfinance #bloggersofinstagram #moneymoves #nashville #tennessee #baldthoughts #outandout #goodday

📊 What are low cost index funds? A fund is like

📊 What are low cost index funds? A fund is like a big pot. Inside the pot are stocks from all the big companies you can think of - Apple, Google, Facebook, and any other big publicly traded company. But instead of investing in all those companies individually…

📈An index fund gives you access to all of them. When you buy an index fund, you’re buying pieces of all those companies at the same time. This makes it a LOT easier to access all those stocks, and you don’t need to pick and choose. The fund tracks the stock market and does all the thinking for you.

⚠️ But all funds aren’t created equal. Some cost more than others. We like the ones with low fees - the ones in my list above.

👍 I personally like “total market” funds because it gives you access to exactly that: the total market. That means that in addition to the top 500 companies, there’s also some mid-cap and low-cap stocks thrown into the mix, too. Essentially, the entire stock market is contained within the big pot that is the fund.

🚨 It’s not enough to just put cash into an investment account. You have to purchase an investment, otherwise your cash just sits there not doing anything for you. This is where a lot of people get lost or overwhelmed.

💸 Historically, index funds have performed well because they simply track the overall stock market. And many people - myself included - base their entire investment strategy around these funds.

👉 I like Fidelity, so I put most of my money into FSKAX. If you’re with another company, they likely have their own versions of this fund.

You can slice and dice the numbers and compare them if you want but the upshot is this:

✨ All of these are great investments - and you can’t go wrong with any of them. ✨

Pick the one that’s most convenient for you to purchase and ride that rocket all the way, baby! 🚀

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#investinyourself #everydollar #compoundinterest #investing #financialfreedom #millenialmoney #fire #personalfinance #savemoney #yourmoneyoryourlife #retireearly #financialindependence #outandout #tothemoon #stocks #howtoinvest #indexfunds #frugualliving #slowandsteady #getrichslowly

On my excursion into downtown Nashville today, of

On my excursion into downtown Nashville today, of course I had to stop and take a photo at the @dollyparton mural depicting her literacy outreach efforts to children. What a light in this world. Thank you, Dolly. 🪕👢✨

#dollyparton #urbanart #muralart #nashville #tennessee #musiccity #countrymusic #livinglegend #literacymatters #readabook #hero #urbanexploration #bethelight ✨✨✨

🌸 We had a little springtime photo shoot today

🌸 We had a little springtime photo shoot today in the fields and next to the river. 🏞

I love this sweet, smart, curious, gentle boy so much. My friend and constant companion - Fenwick. 💕

#puppylove #aboyandhisdog #travels #tennessee #hiking #naturetrail #perfectsaturday #spring #nashville #optoutside #outsidetime #goodboy #babydog #wildflowers

✈️ Europe will soon reopen for travel! Here ar

✈️ Europe will soon reopen for travel! Here are the 8 best ways to get there with #points and #miles.

1️⃣ United miles (transfer from Chase)
Plentiful seats, variable award prices, no fuel surcharges, easy to book, has the most flights to Europe.

2️⃣ American miles
Plentiful seats, variable award prices, can get deals flying off-peak or with Web Special awards, easy to book and usually cheap.

3️⃣ Delta miles (transfer from Amex)
No award chart but lots of economy seats, can sometimes find a good deal, very easy to book.

4️⃣ Avianca miles (transfer from Amex Citi, Capital One)
Partner pricing is more consistent, can find excellent deals (especially in business or first class), no fuel surcharges, easy to book.

5️⃣ Air Canada miles (transfer from Amex, Chase - soon, Capital One)
Set award charts for partners, excellent deals in all classes, no fuel surcharges, easy to book.

6️⃣ ANA miles (transfer from Amex)
Set pricing with excellent prices but must book round-trip, no fuel surcharges, easy to book.

7️⃣ British Airways miles (transfer from Amex, Chase, Capital One)
Sweet spot flying from East Coast to Ireland on Are Lingus, great for intra-European award travel, can be tricky to book.

8️⃣ Flying Blue miles (transfer from Amex, Chase, Citi, Capital One)
Variable prices, but lots of great deals (especially in coach), modest taxes and fees, can sometimes find a deal, not always the best search/award booking experience.

✂️ (Programs that didn’t make the cut: Asia miles, Singapore miles, Virgin Atlantic miles, Alaska miles.)

Do you agree with my list? Anything missing? 🧐

Hopefully it got you thinking about traveling again soon. Where in Europe would you go? I’m dying to get to England, Scotland, or Ireland again! 🍀

Check out the 👉 #linkinbio for all my @insider articles including this one with more details about booking #awardflights to #Europe!

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💵 In this house, we talk about money - it’s n

💵 In this house, we talk about money - it’s not a taboo subject.

🥳 In this house, we celebrate our wins.

💲 And in this house, we are building first generation #wealth.

📌 Today, May 7, 2021, I’m officially on to saving and investing my third $100K. I sometimes use Insta as a little road map/mini diary/photo album so I wanted to plunk this in so I can remember the day. And also actually track how much time the next one will take. 😅

Not bad for a poor kid from Mississippi. Thanks for being a part of my journey. I hope I can be part of yours, too. #letsgetthisbag 💰

#personalfinance #moneymoves #financialindependence #fire #moneywins #fireby40 #gaymoney #thejourneyahead #everydollar #financiallyfree #investing #outandout

😈 I think of a straight, white, heteronormative

😈 I think of a straight, white, heteronormative, Christian man. And then I think of everyone in a marginalized group. People who’ve been told they can’t play the game. People who have systemically been excluded. But that’s changed. 🙅🏻‍♂️

They set it up that way. They made you think it would be impossible to invest in yourself - to get ahead. But it’s easy now - you just have to know what to look for. Investing is cheap and accessible. And they can’t stop you. Not with confusing language, gatekeepers, or high costs to enter. Not any more.

The door is wide open and no one can stop you. So play their game. Show up and benefit from the system they rigged in their favor. Create your own wealth. Show them you understand how it works and you know exactly what to do. 📖

Investing in low-cost index funds is by far the most consistent way to save for your future. Anyone can do it. I’ll share my favorite funds in another post.

Does it sound confusing? Are you afraid you’ll mess it up? That’s what they want you to think! All you need to know is what door to open and which button to push. You do NOT need to know anything else. 😊

No amount is too small to start #investing. The only thing that matters is that you do. It all adds up over time. Don’t let them tell you anything different. Because anything different is what they want you to think. Fuck them.

#smashthepatriarchy #investinyourself #financialfreedom #financialindependence #moneymatters #queermoney #gaymoney #blackmoney #brownmoney #yourmoneyoryourlife #personalfinance #moneythoughts #everydollar #starttoday #outandout #linkinbio

Compound interest. It’s a powerful force. ⚡️

Compound interest. It’s a powerful force. ⚡️
.
If you invested $250,000 and literally left it alone - contributing NOTHING else - for 20 years and got an 8% return, you’d be a #millionaire. And in those 20 years, you can do whatever you want, including invest more. 🤑
.
Leave it alone for 30 years, and you’d have $2.5 million. 💴

You know what compound interest’s best friend is? Time in the market. The sooner you start, the more time it has to work its powerful magic.
.
You can start investing with $5. I recommend a Roth IRA to start. You fund it with after tax money and withdraw it tax-free in retirement. It’s pretty easy to get started. Future You will be glad you did.
.

If you want the quick version, it’s this: open a Fidelity Roth IRA, fund it with $5, and invest in #FSKAX. Make sure your dividends are set to reinvest. Add as much as you can, up to $6K per year. Boom. You’re automatically invested in every major business in the US. 🔥
.
Once I hit the $250K milestone myself, I’m going to focus on making enough to get by here and now, knowing I’ll have plenty saved when it comes time for me to “retire” AKA get old enough to withdraw from my retirement accounts penalty-free. 😹
.
Compound interest, do your thing! ⚡️
.
#linkinbio for my resource on how to get started with a few different options.

#compoundinterest #investing #financialfreedom #millenialmoney #fire #personalfinance #savemoney #yourmoneyoryourlife #retireearly #financialindependence #outandout

Very likely hitting $200K #networth in the next co

Very likely hitting $200K #networth in the next couple of days, which is 40% of my $500K goal. 🤑
.
The first $100K felt like it took forever. The second $100K was muuuch faster. And now I’m about to start on my THIRD $100K. 🔥
.
My plan for the rest of 2021:
.
🧿 Keep expenses on the road as low as possible
🧿 Get $30K into savings (should hit this in a couple of months)
🧿 Fill my 401k up to the $19,500 limit
🧿 Add everything else to taxable brokerage account
.
Why this plan? Pretty soon, I’ll be to a place where I can let the money in my retirement accounts literally just sit there for 30 years and turn into $2 million dollars. That’s the power of #compoundinterest. 📈
.
So I want to shift the focus from retirement accounts to taxable brokerage accounts and get as much into those as I can. I’ll invest in total market funds like #VTI, #FSKAX, and #ITOT. That way, I can live off savings and dividends - and only think about making enough to support my #digitalnomad lifestyle until I’m #financiallyindependent.
.
I also started including #crypto (specifically Bitcoin) in my net worth updates. I put $300 into a #Coinbase account a few years ago ($100 each for #Bitcoin, #Ethereum, and #Litecoin) and today it’s over $1,100. I want to learn more about crypto this year. 🚀
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Also, isn’t my dog the coolest? 🧢😎😻
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Check the #linkinbio for links to check your net worth with @personalcapital, join @coinbase and #buycrypto, and to read my latest blog post with more deets! 💁🏻‍♂️ #outandout #travel #tennessee #nashville #inahyattworld #moneythoughts #personalfinance #fireby40 #everydollar

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Harlan Vaughn

Hello and welcome to Out and Out! My name is Harlan – I’m a points and miles enthusiast who loves to travel. I am interested in personal finance, the power of positive thinking, and the extraordinary journeys that make life worth living. Read more about Harlan...

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