In a GoBankingRates.com survey, more than 5,000 respondents identified the number one financial topic they wished they’d learned as teenagers in school. The six possible answers included: How to create and stick to a budget How taxes work The importance of credit scores/building credit How credit cards, loans, and interest rates work Retirement accounts and […]
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What is a 403(b) Plan and How do You Use it?
You’ve almost surely heard of a 401(k) plan, but what in the world is a 403(b) plan? Simply, a 403(b) plan is a tax-advantaged retirement account for employees of schools, churches, and nonprofits. In order to offer a 403(b), a non-profit has to be tax-exempt under the 501(c)3 code section of the IRS. A 403(b) […]
Common Real Estate Investing Mistakes [+ how to avoid]
Real estate investing can be an excellent way to build wealth. And with low-interest rates, the internet, and reality DIY shows, it’s become more popular than ever. But those things have also fast-tracked people into making some mistakes. When you’re getting started, there’s a lot to learn. It isn’t as easy as it looks on […]
Bad Investing Advice: What to ignore [and why]
Investing is an excellent way to build long-term wealth. But how do you decide the best way to invest? You might ask your friends or family for advice. Perhaps you see how billionaire investors, like Warren Buffet, choose their investments. Or, maybe you hire a financial professional for guidance. The problem is there is so […]
Active vs. Passive vs. Portfolio Income: What’s the difference?
If you’re not quite sure of the difference between active, passive, and portfolio income, this article is for you. It’ll help you understand what makes each one distinct and provide insight into which income source or sources to target. Active, Passive, & Portfolio Income Explained The main distinctions between these income types are how you […]
What is an Accredited Investor and the Benefits of Being One?
You will discover many investment options as you explore ways to build your long term wealth. In your search, you might come across the term “accredited investor.” Perhaps you noticed certain investments are only open to accredited investors. You might wonder what one is and the benefits of being one. Read on to find out! […]
What are Exchange Traded Funds (ETFs)?
Investing in the stock market can be an excellent way to build long term wealth. There are many different ways to invest, depending on your financial goals and risk tolerance. Creating a diversified investment portfolio is one of the best ways to grow your money. Diversification helps you build wealth while lowering the risk of […]
Why and How You Diversify an Investment Portfolio
For decades, experts have warned Americans not to rely on Social Security as a viable way to support themselves during retirement. The Federal Government implemented Social Security in 1935 to provide Americans with some income to supplement their finances after retirement. But Social Security was never intended to be a total solution. The best option […]
Live In House Flipping: A Good RE Investing Strategy?
Live in house flipping is a real estate investing strategy that can certainly pay off – if you’re up for the challenge. It’s a slower approach than traditional house flipping. But live-in flips have some unique advantages that can make them profitable. With a live-in flip, you live in your investment – while you fix […]
Can You Make Money Investing in a Duplex and Renting Half Out?
Investing in real estate is a popular way for people to build wealth over time. Commercial real estate may interest more seasoned investors. But those who are just starting usually invest in single-family rentals or smaller multi-family properties. House ‘hacking’ has also grown in popularity for those who are new to real estate investing. Making […]
Pay Down Debt First or Start Investing?
Getting ahead financially isn’t merely about earning more. It’s also about what you do with that money once you receive it. Investing can help your net worth grow, but debt can eat away at it. That means most people understand they need to invest and pay down debt. But it leaves a lot of people […]
IRA vs. 401(k): How Do They Differ? [Which to invest in first]
Employer pension plans are a thing of the past. Which means saving for retirement is a must, today more than ever before. Saving in any retirement plan is better than not saving at all. But you need to know your options to navigate your retirement savings plans effectively. There are a few differences to consider […]
How Do I Choose a Financial Advisor? [10 questions to ask]
As you prepare to begin investing in the stock market, you may have plenty of questions. One thing you might wonder about is how to choose a financial professional. You can ask family, friends, or co-workers for names of financial advisors they like and trust. Then, you’ll need to narrow down your choices and decide […]
Can I Invest with Five Dollars (or less)?
Have you been wanting to invest but you don’t know where to start? Do you think investing is too complicated or too risky? Are you one of the millions of Americans who can’t even fathom how you’d come up with extra money for investing? Micro-investing could be the solution for all of these questions. Micro-investing […]
Real Estate Investment Clubs: Can I benefit from joining?
Pros and Cons of Real Estate Investment Clubs It seems like a lot of people you know or read about are trying to build wealth through real estate. Some buy houses to “flip” and others are buy-and-hold investors. There are investors only buying single-family rentals and others who seem to prefer purchasing multi-family homes. Commercial […]
Becoming a Landlord: What should I know first?
When you have financial goals, like college savings, retirement, or financial independence, becoming a landlord is an effective way to help you reach those goals. Becoming a landlord through real estate investing is often described as a relatively passive source of income. In other words, it’s a way to make money without a whole lot […]
Should I Rollover My 401(k) or 403(b) After Changing Jobs?
Millennials are job switchers. Gallup polls have found that 21% of millennials report changing jobs within the past year. Outside of learning the new company org chart, job switching presents another challenge: what to do with your old 401(k) or 403(b). Currently, many millennials do nothing. As a result, a 2017 study found that 59% […]
Donor-Advised Funds: Are they the best way to give?
Donor-advised funds. Everyone seems to be talking about them as a better way to give to charity. But what are they, exactly? And why have they become so popular and what are the benefits of setting up donor-advised funds for charitable giving? You may be wondering if there’s any benefit to setting one up if […]
Investment Policy Statement: What is it and how do you write one?
Writing an investment policy statement (IPS) is one of the most important things you can do to build long-term wealth. It isn’t complicated or something that only people with a ton of investments do – writing an IPS is useful for everyone. Your IPS will help you identify and define your long-term financial goals. It […]
How Do I Begin Investing in Stocks? [Stocks 101]
Investing in the stock market can be an excellent way to grow long-term wealth. Some people think you have to be an expert or have a lot of money to start investing. But once you know the basics of stock market investing, you have what you need to begin. Below we outline the fundamentals to […]
Is Buying Rental Property in a College Town a Good Idea?
Whether you currently invest in real estate or are new to the idea, buying rental property in a college town might have crossed your mind. Much of the standard real estate investing advice applies to properties in college cities. But there are some key differences to consider before you start buying rental properties near a […]
Why Is Taking Financial Risk Important?
No matter where you are on your financial journey, controlling your finances is one of the most important things you can do for your future. While it’s challenging to break the cycle of living paycheck-to-paycheck or find money to invest when you’re supporting kids or helping aging parents, building your own financial house must be […]
What Is Tax-Loss Harvesting? [How it can save you money]
There are many facets to investing. One thing all investors will not want to overlook is the tax consequences that come with being a successful investor. Because all net profits made from investments sold in taxable brokerage accounts come with tax liability, your investment strategy should consider the consequences. To reduce tax liability, a strategy […]
Are Precious Metals a Good Alternative Investment?
Good investment advisers always promote the importance of investment diversification. While each investment market comes with inherent risks, the riskiest move of all would be putting all your investment dollars in one basket. A lot of bad things have to happen in a short period for a well-diversified investment portfolio to suffer colossal damage. A […]
Worthy Bonds Review: 5% fixed return on your investment [Worth it in 2021]
In order to build wealth, you want your money making more money. If you keep your savings in a traditional bank, your money has less buying power over time due to low-interest rates and inflation. High-interest online savings accounts and Certificates of Deposit (CD’s) can help. But the interest rate they pay hovers near the […]
