The daily barrage of bad news from the stock market can trigger panic and anxiety among investors. It can also lead to radical decisions affecting the most seasoned investors. Although panic is not a strategy, it’s essential to remain calm when the markets get volatile. Several methods can help investors manage their positions during this period. Stick to Your… Read more →
Tag: Finance
Roth Versus Traditional IRAs
An IRA is one of the most common types of retirement savings accounts. You’ll need to choose between a traditional or Roth IRA. Making the Choice The main difference between a traditional and a Roth IRA is how you can get a tax break. Traditional IRAs allow you to make tax-deductible contributions, while withdrawals are taxable in retirement. On… Read more →
Best Ways to Increase Wealth as a Young Adult: Part 2
Here are more strategies to increase wealth early in your career. Minimize Living Expenses Having a budget and an automatic allocation of your income can help keep your expenses and lifestyle under control. Amazon is an excellent example of how easy it is to buy things you don’t need. Jeff Bezos is a multi-billionaire due to the company’s success.… Read more →
Best Ways to Increase Wealth as a Young Adult: Part 1
If you’re a young adult, you might think that money is hopeless for most people. Most publications and news outlets have labeled millennials as freeloading individuals who would rather spend their money on things they want. It’s common for young adults to live in their parent’s basements and struggle to find well-paying jobs after college. Despite the negative headlines… Read more →
How to Choose a Reliable Financial Advisor
If you’re not a financial expert, choosing a financial advisor can be a difficult decision. There are so many specialized areas that it can be hard to know which one to choose. For instance, estate planning is different from investing. Financial planning is also different from budgeting. One of the best ways to start is by choosing a financial advisor… Read more →
The Current State of Cryptocurrency
The year for crypto investors worsened in June as the broad market’s rotation out of risky assets continued. Bitcoin, Ethereum, and other digital assets took a hit. Rising interest rates and concerns about the US economy have triggered a sell-off in various risk assets such as tech stocks, growth stocks, and cryptos in 2022. Many investors are worried that the… Read more →
How to Pay Off Debts Quickly: Part 1
There are many reasons why people get into debt, such as medical emergencies, unexpected expenses, and job loss. According to a survey conducted by The Pew Charitable Trusts, over 80 percent of Americans have some type of debt. It’s no secret that many people have difficulty living with their debt. Unfortunately, many people get into debt due to their lack… Read more →
Best Ways to Save for Retirement
Most people think that the best way to save for retirement is by simply saying “I want to retire.” However, this is not the case. There are various ways to achieve the right amount of money saved for your future. One of the most important factors that you should consider is the type of retirement plan that will allow you… Read more →
Explaining 401k Retirement Accounts
A 401k retirement savings plan is a type of workplace benefit that allows employees to contribute to their accounts. It provides them with a tax break on the money they save. The annual contribution limit for a standard 401k is $20,500 in 2022. For those over 50, the limit is $27,000. The term “401k” comes from a section of the… Read more →
Finance Tips for Young Professionals
Many young professionals face various financial challenges, such as managing debt and saving for the future. It can be overwhelming to think about what steps are needed to achieve financial stability. With the recent volatility in the stock market, now is a great opportunity to review your finances and develop a plan. Craft a Thoughtful Budget Before you can start… Read more →