Are you getting the best rate of return on investment? Kiplinger's Personal Finance Magazine annually discusses ways to boost your investment yield in its latest issue. I have to say that I am always pretty disappointed with their recommendations. I love the magazine, but I didn't really care for a list of mutual funds and Exchange Traded Funds (ETFs). But, I wanted concrete ideas on how to earn a 10% annual rate of return on my investments. US Treasuries are earning less than 1% and money market funds are not fairing much better. … [Read more...] about The Ultimate Guide to Earning a 10% Rate of Return on Your Investments
Top 6 Surprising Tax Write Offs that New Business Owners Need to Know
Taxes can be one of the most complicated parts of being a business owner, and the array of new changes that came out in the new tax reform bill in 2017 has seemingly complicated matters further for business owners. On one hand, there are exciting new incentives that entrepreneurial folks didn’t have access to beforehand, such as greater first-year depreciation levels (more on this below). On the other hand, the new tax bill eliminated several tax write offs that employees and employers alike would’ve preferred to keep, such as the deductions … [Read more...] about Top 6 Surprising Tax Write Offs that New Business Owners Need to Know
Top 3 Best Passive Income Ideas for Retirees
Whether you’re 10 years away from retirement or retiring this year, money management and saving don’t stop when your regular job income does. In fact, financial management in retirement can be a stressful experience if you don’t plan carefully beforehand and continue your saving habits during your golden years. To avoid the panic-inducing question of whether your current nest egg will last as long as you do, there are several retirement mistakes to avoid. Don't increase your spending, pay attention to potential income opportunities, and … [Read more...] about Top 3 Best Passive Income Ideas for Retirees
Is Your Side Hustle Actually Costing You Money?
Nobody knows how many Americans are actually participating in the gig economy; estimates range widely from 4% to 40% of the workforce. What we do know is that some people have managed to successfully transform their former side gigs into full-time work, while others continue working full-time jobs to support themselves and use side hustles as extra income streams to pay the bills and grow their savings. But, is your side hustle costing you money? The problem with side hustles is that they can complicate your income and tax situation much … [Read more...] about Is Your Side Hustle Actually Costing You Money?
How Crypto Scams Are Conning Millions of People Out of Life Savings Every Year
The following is a guest post by Erica Stanford, author of Crypto Wars: Faked Deaths, Missing Billions and Industry Disruption. If you'd like to submit a guest post like this one about crypto scams or any other topic, please check out the Money Q&A guest posting guidelines. Crypto hacks and scams are big news and are getting more sophisticated by the day. Where a few years ago, one could look at the larger scams, and in the vast majority of cases, see signs of a Ponzi scheme or at least see an indication that all was not well, today, … [Read more...] about How Crypto Scams Are Conning Millions of People Out of Life Savings Every Year
6 Financial Considerations to Make Right After Getting Married
In an ideal world, we would all be on the same page as our life partner when it comes to money management practices and even just basic openness and honesty about finances. However, the reality is that people rarely dedicate enough time to discussing the financial side of being in a committed relationship until after they get married. Whether you know very little about your fiancé’s finances or you’re both completely open with each other about your individual and shared financial situations, here are 6 considerations to your married … [Read more...] about 6 Financial Considerations to Make Right After Getting Married
The Pros and Cons of Alternative Financial Services
A recent study found that 42% of Millennials have used alternative financial services and 39% of the general population has used these services, which include payday loans, pawnshops, rent-to-own programs, and car title loans. Short-term loans are often risky for borrowers, but there could be some advantages to taking out this type of loan if you’re in a pinch. Pros and Cons of Alternative Financial Services To help you decide whether alternative financial services might suit your financial situation, here are some … [Read more...] about The Pros and Cons of Alternative Financial Services