Investing Expectations
Key Takeaways There’s a big difference in what the Millennial generation expects in terms of returns on investment in the stock market versus what their parents, the Boomer generation, expect. Going back over 100 years, the return on investment in the stock market is about 10%. There are three things to keep in mind when […]
Cryptocurrency Confusion
Key Takeaways There’s a lot of confusion with cryptocurrencies and blockchain right now, especially since it’s been acting like a bit of a gold rush, causing people to spend a lot of money on something they may not know much about. Applications and the blockchain are very complicated to understand, but there is a lot […]
The Estimated Tax Man
Key Takeaways If you work in the gig economy, you are considered self-employed. As a self-employed person, you have to pay estimated taxes quarterly, or you face penalties and you are charged interest. If you worked for an employer, they would take Social Security and Medicare from your paycheck as well as pay the IRS […]
Credit Cards – Added Protection, Added Benefits
Key Takeaways A 2016 Bankrate study found less than a third of Millennials have credit cards. Using debit cards and cash leaves you prone to both identity theft and physical theft, whereas using a credit cards protects you from both. Credit cards often come with rewards programs that help you earn points towards goods […]
Don’t Be a Financial DIYer
Key Takeaways Doing your own financial planning comes with risks that can prove to be quite costly as your finances grow and become more complex. Starting off in life with a robo-advisor or digital platform to do your own financial planning is fine, especially when you have limited resources, but make sure it’s a reputable […]
Smart Spending
Key Takeaways The idea that the more expensive the item, the better quality it is, no longer applies. Many of the decisions we make are based on emotion, so when it comes to spending, you want to make sure you know what you value, so you don’t spend money on extras you don’t need. Being […]
The 50% Rule
Key Takeaways If you get a raise or your income increases for some reason, use the 50% Rule to take half of that increased income and save it or pay down debt. Many times when we have an increase in income, we spend it on things we don’t really need. That new increase in money […]
The Debt Free Top 10 List
Key Takeaways To take care of your debt, it’s important to have a debt-free mindset. There are many ways to help yourself either stay out of bad debt, or help you get out of debt, but there’s no quick fix.
The “Freedom To” Future
Key Takeaways The current generations heading in to retirement no longer like to use that word as it holds a negative connotation, instead, think of that life transition as freedom from to freedom to. The Millennial generation has a different outlook from previous generations in terms of how they want their life to look and […]
Financial Confidence Versus Competence
Key Takeaways There is a big difference between having confidence in your knowledge of something, and having actual competence in it. To bridge the financial confidence to competence gap, you need to look at your dangers, opportunities, and strengths. Making good decisions about your money requires understanding your limitations, and sometimes seeking additional experienced help.