The New and Improved Terra Karma

Welcome to a new flex! A new Day! This is the brand new and improved Nifty Nate and WELCOME to the new and improved Terra Karma!

Our mission is: To educate and inspire people to be the best versions of themselves that they can be!


Rules** I have learned in the last 32 years of my life:

*Work hard and be nice.

*Invest in a FEW nice, long term appliances (vacuum, toilet seat, double shower head, and a nice bed)

*Set an alarm on your phone to check transactions and pay your credit cards off WEEKLY.

*Buy everything you can on a cash back credit card. Invest the resulting money in a ROTH IRA filled with S&P 500 index funds. Not any individual stock, but the average of all of the stocks in the S&P. It's called an index fund and it outperforms Warren Buffet with a lot less effort! You can't use the excuse that you can't afford it now!

Who can afford a half a million dollar class A share anyways? Not us servant-less lower middle class parents!

*Back on the ROTH IRA. Have your kids stay at home and pay you rent for at least 5 years after school. Use that money to contribute the max that you can ($5000 per year) to their ROTH IRA for those 5 years. If you leave it alone for 40 years they will retire with almost a million dollars. The reason you want the ROTH IRA is that you won't have to pay taxes on the income when you withdraw it in 40 years. With a regular IRA it counts as income and you will be taxed accordingly.


*If the stock market collapses, DON'T SELL! Take advantage of the SALE! Seriously though 10 shares pre crash is still 10 shares post crash. If you would have bought the s&p500 index in the peak of the depression, It would have taken you less than 6 years to break even and you would be up over 1500% today! That's $150 for every dollar invested.

I am not a financial advisor, You can lose money in the stock market, There is no insurance on stocks. I own shares of the S&P 500 Mid cap and Large cap passive index funds.

** They are more like guidelines. Follow them, and once you are comfortable you can branch out! Let me know in the comments below if you have a life rule that you follow!