Archive | 2017


How the 2017 Tax Bill Impacts Early Retirees

Current laws bestow many lucrative tax breaks upon early retirees. But does the 2017 Tax Bill undercut any of these helpful rules? To explore this issue—a “burning” one for FIRE fanatics—here’s a rundown of ten favorable tax provisions I’ve followed for years (see my 2015 article here and my 2016 article here). As you’ll see, […]

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Worthometer Canada: Compare Your Net Worth to Other Households [2016 Preliminary Data]

The largest recurring study of Canadian net worth, the Survey of Financial Security (SFS), is conducted by Statistics Canada, an agency of the federal government. The SFS for 2016, which was released last week, involved interviews of 21,000+ households about a wide range of financial matters, including their net worths. If you live in Canada, […]

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Compare Your Adjusted Gross Income to Others by Age and Filing Status [Using 2015 IRS Data]

Note: this post revises a December 12, 2016 article that reported 2014 data from the IRS Statistics of Income (SOI) program. Since then, the IRS has released its 2015 statistics so the time is ripe for an update. Everyone compares themselves to others—it’s basic human nature. But sizing up paychecks isn’t polite conversation. In fact, it’s taboo. […]

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How the Standard Formula for Net Worth Overstates Your Wealth—and How to Fix it

You’ve worked hard. You’ve avoided debt. You’ve saved and invested. Through the years, you’ve regularly updated your net worth using the standard formula: Assets – Liabilities = Net Worth. According to this calculation, you’ve made substantial progress. The stock market’s done well and so have you. But if you’ve only been looking at your net […]

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2018 Obamacare Premium Tax Credit Calculator

In 2018, the federal government will once again offer a Premium Tax Credit (PTC) to qualifying taxpayers who buy health coverage from an approved health insurance exchange. To receive a PTC you must split the uprights between making too little and too much income. If you make too little, you drop out of Obamacare and into Medicaid. […]

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My Early Retiree Tax Plan for 2017

Note: On February 19, 2018, I modified this post to correct an error that caused me to overstate my 2017 Colorado income taxes. As discussed below, my state taxes for tax year 2017 will be zero. As I plan my household’s tax returns for 2017, I’m pursuing four major goals: (1) obtain the highest available […]

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Candy Graph

How to Compare Your Income to Others (Without Being Rude) [Using 2016 Census Data]

Note: this post revises an earlier article dated December 5, 2016 that was based on 2015 data published by the US Census Bureau. Since then, the 2016 data has been released so it’s time for an update. Everyone likes to compare themselves to others—it’s basic human nature. But comparing your income to others is not a topic […]

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Breaking News: Worthometer Updated to Include Latest Data from 3 National Surveys!

As you may know, this site’s popular Worthometer (46,000+ views and counting) is the web’s only net worth percentile gauge that incorporates, interpolates, and averages all three major surveys of USA household wealth: (1) the Federal Reserve Board’s Survey of Consumer Finances (SCF); (2) the US Census Bureau’s Survey of Income and Program Participation (SIPP); and (3) the University of Michigan’s […]

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Compare Your Employer-Sponsored Retirement Account Contributions to Others (Without Being Rude)

Curious about how your annual retirement deposits compare to other US taxpayers? If so, you’ve come to the right place. Through the magic of governmental data you can see where you rank without making impolite inquiries to friends and coworkers. This post covers employer-sponsored retirement accounts such as 401(k), 403(b), 457(b), 408(p) and Roth 401(k) […]

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