Step Away from the Social Feed
Key Takeaways A recent study found that 57% of Millennials buy products online from ads or videos they see on their social feeds that they were not expecting to buy. A good way to track your finances so you can see what you truly can afford to buy, is to use an online financial portal. […]
Insuring Your Future
Key Takeaways A recent study found that 75% of young people, parents with children, don’t have life insurance. Some of the reasons given for not having life insurance were that they don’t like the process, they have a false sense of security, they prioritize paying off student debt, they are saving for a home, or […]
Building Your Retirement Pyramid
Key Takeaways A recent Aperion Cares survey found that one third of Millennials thought they could live off $200,000 in retirement. AARP says today, you need about $1.18 million to live off $40,000 a year in retirement. While it may seem daunting, getting to $1.18 million by the time you retire is not hard considering […]
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 Debt Shovel
Key Takeaways How we take on debt and how we pay it back can be a bit of an intangible concept. When you initially take on debt, it’s tax free, but when you pay it back, it’s with money after tax, and that means it takes more of your income to pay that debt back […]