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Tim Schmidt

Tim Schmidt

A Florida-based Entrepreneur, Author, and Life Hacker, Tim Schmidt decided to take control of his retirement portfolio several years ago by setting up a self-directed IRA. This website shares his thoughts and opinions on retirement, investing, and managing credit. You can follow his career and travels on his Official Website as well as on his Instagram page.

Here are my most recent posts

What is a 529 Plan?

Today I’ll share with you the basics of a 529 plan.This plan operates as a savings plan for college that provides specific financial aid and tax related benefits. Many of today’s 529 plans are also used as a way to invest and save money for grade school tuition...

15 Practical Budgeting Tips

Budgeting – it’s one activity that everybody seems to dread. Is budgeting really that bad or does it have a bad reputation? Truth be told, all a budget really is is a plan to manage your finances. That’s not too scary, right? Unfortunately some people see it as a form...

IRA Investing For Retirement

How to Pay Off Your Mortgage in 5 Years

Many years ago I had a good friend of mine share a calculator that allowed me to see what the benefit of making an extra payment to my mortgage would do to my overall end payoff of my home.  I found that by making even simple payments of an extra $50 or $100 on a...

Smart Money Moves to Make in Your 20s

I follow several YouTube Channels that have to do with investing.  Some deal with retirement, others are for trading, and some are even in the cryptocurrency space.  One that I feel has a lot of great information for the generation right behind me, is Millenial...

Kevin O’Leary’s Advice for 20 Year Olds

If you are looking for tips from one of the most successful businessmen of all time, you should take a peak at this video by Kevin O'Leary.  It's his tips for 20 year olds, but I found them useful for people of all ages and walks of life. Top 5 Tips for 20 Year Olds...

Precious Metals

Retirement Tips

Best 10 Countries to Retire to in 2020

​I always read articles that tout retirement destinations with extreme caution, mainly because many of them are influenced by advertising dollars and are perhaps selling real estate on subsequent pages.  However, this Business Insider article was told from the...

Where to Donate Used Books – 10 Options to Consider

Do you love buying books? Are you the type to stop at every bookstore in your path? Do you always buy at least one new book whenever you’re in a bookstore? It’s no secret to your family and friends that you’re a book fanatic. In fact, they enable your collecting habit...

Flipping Houses for Profit

Not that long ago, I met a guy who just decided that it was time to get started in the real estate game. He decided to become a real estate agent. But he didn’t end his education there. In fact, he decided to learn all he could about renovations too. This led to him...

Stock Market

The Best Recession Proof Stocks

I've got a lot of praise via email about my content curating, and I've heard many of you cite that they like the style of Matthew from The Right Trader, so I'm back again with another great video he produced about recession proof stocks.  These are stocks that you can...

How to Invest in a Bear Market

This recent world pandemic called the coronavirus, or COVID-19, has caused chaos in the markets.  So much so, that I recently wrote about the fears the coronavirus is putting into investors.  Well, since then, we've had some wild days of trading, with some massive...

Coronavirus Putting Fear into Stocks & Retirement

The past two days have been very rough for U.S. stocks, having lost more than $1.7 trillion in market value, according to a report on Yahoo! Finance.  The sell off stems from the concerns over the corona virus outbreak that has been causing chaos on an economy that...