401(k) Tricks You Probably Don’t Know
Key Takeaways Most people, when they are starting off in the workforce, end up working at a few different jobs for the first few years. Many companies offer matching 401(k) programs, and you can actually roll over one 401(k) at one company to another 401(k) at another company. Most 401(k)s have what’s called a loan […]
Your Money Timeline
Key Takeaways When it comes to investing money, the order in which you invest matters. Before investing in anything, make sure your emergency fund is set up and topped off. It’s important to know what your short, intermediate, and long-term goals are in order to know what assets you should invest in and when.
The Down Payment Myth
Key Takeaways A recent survey of 3,000 Millennials found that 53% of them said they hadn’t bought a house yet because they hadn’t saved enough money. You don’t need a down payment of 20% of the value of the home in order to buy it; there are several loan types that don’t require that amount. […]
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 […]
All Together Now – The Wealth Portal
Key Takeaways There are many apps out there that can help you track your finances separately, but it’s cumbersome and time consuming. A wealth portal puts all your finances in one place, providing you with a quick summary that you can easily glance over once a week to ensure nothing is amiss. Using a wealth […]
Save First, Spend Second
Key Takeaways If you want to build wealth successfully, you need to save first and spend second. The rule of thumb when it comes to saving is to save about 15%. If you spend first, you can get used to the niceties in life, and then it can be very hard to have to go […]
Half the Clothes, Twice the Money
Key Takeaways When we get ready for a vacation, we typically pack too many clothes and don’t budget enough money. When we make big purchases, we tend to forget all the associated costs that come with buying the item. If you plan in some extra money beyond the main cost of what you are purchasing, […]