I bought an Apple Watch last fall in what I assumed was a silly, tech-geek pursuit of getting in shape. Surprisingly, the Activity app (the one with the rings) has completely transformed my body. I know all the tricks it's using to motivate me, but damn it, it works. I make sure to close my rings every single day and it shows: I've lost weight, gained noticeable muscle, and went down a notch in my belt. Oh, and I've heard it also tells time.
Sure, you could liquidate your investments if need be, but you'll get hit with high short-term capital gains taxes if you sell equities you've held for a year or less. If held longer than a year, you'll pay long-term capital gains taxes, which are substantially lower.
If you meet the income requirements (>$116k if single, >$183k if filing jointly), you can contribute up to $5,500 per year into a Roth IRA which can also double as an emergency fund if need-be. You can withdraw all your contributions with zero penalty anytime for any reason. You just can't withdraw your earnings on those contributions without a penalty.
Hey man, I'm building something similar, I'd love to chat about it with you. Used to work at Intuit, came up with this idea, I've been working on this for 5 years, full time for two.
I had the perfect domain name - but it was a .net. We even had the perfect logo for it. But everyone in the biz told me I needed a .com, even my mom. So I spent a few hours with a thesaurus and came up with a shortlist, and of the ones available, the best was offered by BuyDomains.com for $2,500. I mentioned it to my investors and my parents and they said BUY IT NOW. My team was less enthusiastic about the name, but they understood why it was good:
- .com
- 5 letters, 2 syllables
- easy to pronounce and spell
- the name made sense for our business, it wasn't nonsense
I went for it and I'm really glad I did. Would I do it for $3K? Not sure. $4K? I don't want to think about it.