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Tuesday – February 21, 2023
Welcome to today’s edition of the Dumbass Newsletter! This is day 25 of my attempt to send a daily email newsletter. I’m still wondering if I fell and hit my head somewhere…I don’t know, Lol… Let’s go!!
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Maxing Out Your 401(k) in 2023? You May Want to Reconsider.
Maxing out your 401(k) may seem like a no-brainer move. But it’s also a tough goal for a typical U.S. worker to achieve. In 2023, you’d need to contribute $22,500 to max out your 401(k) if you’re younger than 50. If you’re 50 or older, you’d need to kick in an extra $7,500 catch-up contribution — $30,000 total — to reach the limit.
Maybe you can easily afford to max out your 401(k). Or maybe contributing these amounts would put a serious strain on your budget. Either way, maxing out your 401(k) isn’t always the best option for your money. Here’s what you need to consider.
“The successful warrior is the average man, with laser-like focus.” ~ Bruce Lee
See more inspirational quotes like this on the Dumb Passive Income Facebook Page
Heavily Pregnant Waitress Without Paid Time off Faces Months Without an Income – Receives an Unusual Tip
Most workers in the service industry face a lot of uncertainty when embarking on maternity leave. Given that these jobs mostly rely on tips to bring in an income, not being at work means that there will be no money coming in when a new baby is born. This was the case for a waitress in Arizona when she got an amazing surprise that would help her whole family. (Read the full story here)
On this day, in 1965…
Malcolm X, a civil rights activist, was assassinated on February 21, 1965, at the Audubon Ballroom in Harlem. Events leading up to the shooting, included Malcolm X’s growing frustration with the Nation of Islam and his willingness to work with other civil rights leaders. Malcolm X’s death had an impact on the civil rights movement and there are still ongoing debates about his legacy. (Read the full story here)
Rent your unused space for monthly passive income! Get a FREE $50 gift on your first paycheck if you use my referral link here.
I “cut the cable” and switched to YouTube TV recently. I’m loving it! You can try it for $15 OFF if you use my referral link here.
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Thank You for reading today’s newsletter!