Category: Personal Finance

2021 Federal Poverty Guidelines

How can you tell if someone is in poverty? It’s not an easy question. But we do have some guidelines. The Max Out of Pocket crew would meet the federal poverty guideline if we had an annual income of less than $17,420. That’s according to the Department of Health and Human Services (HHS). They will bump that figure to $21,960 in a few weeks when little Max or Maxine arrives and we turn into a family of three....

Our 2020 Taxable Investment Income

It’s pretty simple. Max trades his time, energy, and skills to an organization. In exchange, I expect that organization to pay me money. We sometimes refer to this as earned wages. But before it hits my pocket, my Uncle Sam takes his share. He calls it wages, salaries, and tips. These wages hit Line 1 of the 1040 tax form, and the government taxes us from there. Whatever money is left lands in my pocket....

Touting My Tilt: Small-Caps, Haystacks, and Max

Over the years, I have seen several investment experts suggest they are ‘tilting’ their portfolio one way or another. It sounds sophisticated. They might generally follow total stock market indexing principles, but they deviate ever so slightly into a certain strategy. They tilt their way into ‘international equities,’ ‘value stocks,’ or even ‘alternatives.’  Tilt: move or cause to move into a sloping position. As they tout their tilt, I sometimes have a hard time reading...

Max Out of Pocket: 2021 Investor Policy Statement

Part of the idea behind the Max Out of Pocket blog was for me to find a place to organize my thoughts on personal finance, healthcare, and life in general. It just so happens we have an event scheduled in April that will impact all three. So I thought now would be a good time to tighten things up a bit around here. Outside of Healthcare finance, Max prides himself on being in tune with...

Max Out of Pocket’s 2020 Spending

If you want to get to know someone, take a look at what they spend their money on. A quick peek at their expenses and their priorities become clear. Even better, turn this exercise back on yourself. There is nothing quite like taking a long hard look in the mirror. But most of us never will. We will just keep on spending our way through life wondering why we can’t get ahead. I could argue...