Angelo Here!

Hope y’all had a wonderful 4-day weekend! I spent this weekend camping, fishing (caught negative fish) and eating some good food with the fam.

Did you celebrate this weekend? Reply to this email if you did anything cool! I’m so curious to see how other people spend their 4th, so i’ll read every single one of them :)

Let’s get back to business

Today’s edition:

- Trump’s Big Beautiful Bill
- Save 50% Of Your Income
- True Wealth

Read time: 4 min 30 seconds

📈 Market Recap

Here’s everything that actually matters from this week — in plain English 👇

S&P 500: +1.3%
Nasdaq-100: +0.8%
Dow Jones: +0.5%
Bitcoin: -3.2%

📜 The “Big Beautiful Bill” Just Passed

Trump’s new tax bill just got signed — and it’s being called one of the biggest tax cuts in U.S. history.

Some love it. Some hate it.
But here’s what actually matters for you 👇

✅ Tax Breaks You Should Know About

These kick in starting 2025 — so there’s time to prep.

• No tax on tips
  Up to $25K in tips (cash + card) are tax-free for restaurant, hospitality, and ride-share workers (2025–2028)
  Phases out at $150K single / $300K married
  

• No tax on overtime
  Overtime pay becomes tax-deductible (up to $12.5K–$25K) — big win for hourly workers
  

• Car loan interest write-off
  Deduct up to $10K/year in interest if your car is U.S.-made and you earn <$100K single / <$200K married
  

• Standard deduction boost
  $15,750 for single filers
  $31,500 for married couples
  +$6,000 if you're 65+
  

• Bonus depreciation (permanent)
  100% first-year write-offs for business vehicles, equipment, and some real estate
  
  Great for side hustlers and self-employed
  

• “Trump Account” for kids
  $1,000 seeded by the gov (for kids born 2025–2028)
  Parents can add up to $5K/year
  Grows tax-free for school, home, or business
  

• SALT deduction raised
  From $10K → $40K (2025–2029) for high-tax state residents
  Phases out at $500K income
  

• 1099 threshold raised
  Freelancers don’t need to file unless they pay someone over $2,000/year (used to be $600)

⚠️ Stuff That Might Hurt You

• EV tax credit ends early
  $7,500 credit now expires Sept 30, 2025 — not end of year
  If you’re planning to buy, don’t wait
  

• Gambling loss deduction capped
  Only 90% of losses can be written off — could result in taxed “phantom gains”
  

• Medicaid work rules added
  Could cause some low-income adults to lose coverage
  

• Uneven benefits
  Top 20% may save $6K+
  Bottom 20% could pay $560 more

  
  Wealthier earners benefit the most

📊 Why This Matters for the Market

This bill is expected to cost $2.9T and reduce federal tax revenue by $4.5T over 10 years.

Wall Street likes it so far:

• More disposable income → more spending

• Boosts for tech, real estate, small biz

• Viewed as pro-growth heading into the election

Not sure how this is going to help wipe out our debt but I guess only time will tell…

🚗 Tesla Deliveries Drop 13%

In some other news…. Tesla posted its worst delivery report in over a year — down 13% YoY in Q2.

• The EV and Tesla hype train slowdown is real

• Elon is kinda crashing out again

• But surprisingly, the stock held up — showing just how strong current market sentiment is

☢️ Iran Suspends Nuclear Oversight

Iran officially ended cooperation with UN nuclear inspectors, adding tension to the Middle East again.

Markets haven’t reacted yet — but any escalation could impact oil prices and risk sentiment quickly.

💰 Wealth Tip of the Week

For the past 5 years I have been able to save 50-75% of my income.

It wasn’t easy at first, but now it has been a part of my lifestyle.

I don’t count every penny, I don’t cut corners and I still splurge here and there.

This is only possible because I followed this specific protocol:

How I Save 50% of My Income (Without Feeling Miserable)

1. Know your numbers

• On a piece of paper, in your head, or in an app, I want you to calculate your burn rate.
  
  Your burn rate is essentially how much money you need in order to survive. Rent, insurance, groceries etc. You want to limit this to the absolutely necessities.
  
  Then write out your “luxurious”, which would be your eating out, movies, subscriptions etc
  

• Awareness is step 1. The goal is to not judge and start cutting things out, but just be conscious of whats happening with your money

2. Focus on the big 3 expenses (not lattes)

The three biggest expenses that you will most likely have is your housing, transportation, and food.

If you want to make things easier for you to save, you need to lower these categories as much as possible.

• Housing: Get roommates, negotiate rent, move somewhere cheaper, or live at home if you can. Cutting rent by even $500/month = $6,000/year saved.

• Transportation: Buy used, reliable cars. Avoid monthly payments and high insurance costs. Do not buy new!!!
  
  (same goes with phones, but more on that later)

• Food: Learn 5 go-to home meals. Avoid daily delivery and bar tabs. Save hundreds each month as well as hospital bills if you eat out all the time.
  

The lower you can reduce these big expenses, the more space you will have to “splurge” on yourself on other categories without feeling guilt. So the choice is really yours and up to your own priorities.

3. Automate your savings

• Set up auto-transfers to savings and investing on payday.

• Treat saving like a bill that’s due. This removes the temptation to spend first.

• Start with 10% and increase it gradually.
  

This is the #1 reason why I am able to save 50% of my income, because I automate it. I dont like to think about money that often, or have to manually save.

It’s too much work. So instead I just automate it and think of it as a bill!

4. Build better habits

• Alot of overspending is usually emotional. Curb impulse buys by using 24-hour rules.

• Ask: “Will I still want this in 30 days?”

• Delay lifestyle upgrades when income increases — avoid lifestyle creep.

5. Increase your income

• Negotiate a raise: Track your wins. Prepare a case. Ask.

• Switch jobs strategically: Job hopping can bring 10%+ raises vs 2-3% annual bumps.

• Start a side hustle: Start simple (freelance, gig work) or go long-term (content, ecom).

Saving half your income isn’t easy — but it is doable. Start small, stay consistent, and keep going.

Don't Go Broke Buying NewPhones

Here's a money hack that surprisingly most people DON'T take advantage of.

Refurbished Phones.

Just like how  cars lose value when you use it, most phones do the same.

About 30-35% of its value in the first year!

The method: Use Back Market and buy professionally refurbished phones that are cleaned, tested, and work like new for up to 70% off retail price!

The best part is, they sell unlocked phones!! Meaning, You don't have to stick with expensive postpaid contracts with your phone carrier" and save up to $700 a year!

Same quality phone, same service, way less money.

Shop smartphones up to 70% off at Back Market

🧵 Thread of the Week

I talk a lot about “building wealth”, but the truth is I hate talking or even thinking about money.

The reason why I am so locked in with my finances, is because I never want to stress about money ever again.

I don’t want to worry if I am on track to retire, I don’t want to ration my good to make it till dinner, I don’t want to pick up extra hours to pay off my rent….

Never again.

True wealth, is the list above and never having to “think” about money.

That day shall come for all of us.

See y’all next week 🫡

- Angelo Castillo

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