ELGON FINANCIAL BLOG
Is Anchoring Bias Leading You Down the Poverty Trap?
One of the worst investment decisions I recall making was buying a stock at close to $100 per share and literally watching it go down to a single-digit number. Does anybody recall Qualcomm in 1999 -2021?.
It was my introduction to anchoring bias – read the post to learn how you can avoid this investing trap
How to Save for College for Foreign-Born Kids on H-1B Visa
The current school of thought is that 529 savings accounts are the best way to save for college. But if you are on an H-1B visa, and your kids are foreign-born without social security numbers yet, this might not be the best option for you.
Read the post for more savings options if you find yourself in this situation.
How to Open a Teen Roth IRA Account in 6 Steps
6 simple steps to open a teen ROTH IRA account, and get them started on the path to becoming millionaires.
How to Report Foreign Rental Income When You File Taxes
If I own foreign rental property, do I have to include the income when I file my US taxes? The answer is yes, although it depends on your tax residency status. Read the rest of the post for the details on how you go about figuring this out and what to do with your foreign rental income.
How to File Taxes the First Year as an Immigrant
Filing taxes the first year in the US as an immigrant or as a non-US citizen is not for the faint of heart. You need to figure out your filing status, in addition to understanding different concepts in the tax code. This post discusses what you need to keep in mind as you go through the process.
13.1 Miles, A New PR – Money Lessons Solidified
Completing 3M Half Marathon race this weekend, was another reminder that financial planning is not a sprint, but a marathon. Money lessons solidified.
Gift Giving Stress: How to Deal With it
We stress a lot about gift-giving during the holidays. It’s especially more noticeable between couples. It turns out, there is a perfectly logical reason for this – Money Scripts. It’s all about how we grew up, what we learned about money and the experiences that contributed to our money scripts. Understanding this can go a long way in helping us manage this stress.
Taxable Brokerage Account + The Special Use Case For Foreign-Born Families
In this post, I discuss why a taxable brokerage account should be a part of your investment/saving strategy. By the end of the post, you’ll know the answer to questions like – what is it, what are some of the benefits of the account, things to watch out for with the account. Finally I discuss the special use case for foreign-born nationals.
