Are you getting the best rate of return on investment? Kiplinger's Personal Finance Magazine annually discusses ways to boost your investment yield in their latest issue. I have to say that I am always pretty disappointed in 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 Ten Ways to Earn a 10% Rate of Return on Your Investments
When you start making more money through your business, job, or investments, the next thing that typically happens is you start spending money more freely because you can finally afford to do so. Unfortunately, our desire to disregard our budgetary restrictions comes a serious downside. We won’t make much progress in our financial goals if we’re too busy spending money and living at our means. If you suspect you’re experiencing “lifestyle creep”, which is when you start earning more money and your expenses seem to grow alongside your income, … [Read more...] about 4 Strategies for Overcoming Lifestyle Creep
Have you been waiting to get started in investing because you think it’s confusing? Do you think that too much money is required to start, or financial advisors are too expensive? It doesn’t have to be that way. A new investment method called robo advisors has been changing the financial landscape recently. And, it’s something that you may want to consider. What Is A Robo Advisor? A robo advisor is an online wealth management service that provides automated, algorithm-based investment portfolio management advice without the use of … [Read more...] about The Pros and Cons of Using Robo Advisors to Invest
When it comes to planning for the future, one of the biggest concerns people face is the possibility of running out of money during retirement. Since you may have access to monthly Social Security or pension checks, this doesn’t mean literally running out of money altogether, but rather losing the ability to cover your expenses without taking on a part time or full time job to make ends meet. If you plan to retire in your 50s but you’re concerned about the long-term sustainability of your retirement strategy, it’s important to develop back-up … [Read more...] about Should You Have a Backup Plan Before Retiring Early?
Are you getting close to retirement or still a decade or two away? Even if you plan on working for several more years, it’s extremely important to keep your retirement plans at the forefront of your mind. Ignore the excuse, “I still have plenty of time to start saving.” Don't make these retirement mistakes. Unfortunately, this is the same logic that leaves many people with no savings upon reaching retirement age, so this long-term goal should be treated with equal or even greater importance than your short-term financial goals. Planning and … [Read more...] about
The following is a guest post by Dan Kent, owner and writer for Stocktrades.ca. For more information about guest posting on Money Q&A, check out our guest posting guidelines. I deal with a lot of new investors. Those who are attempting to leave their banks or fund managers and instead take control of their own finances. As such, the question that frequents my inbox the most from those who are looking for advice is “how do I construct an investment portfolio?” I’ve often stated that building a portfolio is the most difficult … [Read more...] about Three Diversification Strategies for a Perfectly Balanced Portfolio
It’s all about flexible subscriptions nowadays. Whether it’s a TV streaming service like Netflix and Hulu or quirky subscription boxes for seemingly every hobby in existence, consumer data research suggests our collective obsession with subscriptions is unlikely to go away any time soon. Consumers love subscriptions over ownership because there’s much more flexibility, convenience, and easier access to products and services. But what about subscribing to a car service, as opposed to buying a used car or leasing one for a few years? While … [Read more...] about Are Car Subscription Services Worth It?
The impossible fantasy of living forever isn’t as great as it might seem, especially when you have to account for things like bills, expensive healthcare, and living on a fixed income while your expenses continue to rise. We may not be technologically advanced enough as a society to keep people alive indefinitely, but there is a very real trend related to this issue that not enough people are paying attention to. Women are living longer than men but only saving half as much for retirement. Whether you are a woman, married to one, or have a … [Read more...] about Why do Women Need to Save More for Retirement?
Working at home on your own schedule can be both a tremendously fulfilling and frustrating experience for novice and seasoned solo entrepreneurs alike. Whether you’re a freelancer for multiple companies or running your own business, juggling multiple sources of income, accounting for countless expense categories, and figuring out your estimated quarterly tax payments can be a headache. Fortunately, there’s a new software program designed to change all that, and that's bSolo. Launched in July 2018, bSolo is made just for solo entrepreneurs, … [Read more...] about bSolo Review – The Smart Tax Assistant for Solo Entrepreneurs
When it comes to fintech and the countless investment options available to consumers today, choosing the best platforms for your portfolio can be quite challenging. Since there are so many different possibilities, it typically comes down to two main factors, potential for higher gains and low-cost trades. You Invest from J.P. Morgan, also referred to as Chase You Invest in some circles, offers the best of all worlds by minimizing fees and maximizing value for consumers. Some sources have proclaimed that Chase You Invest is the perfect … [Read more...] about Chase You Invest Review: Low Fees No Minimums
How would you rate your ability to create and stick to a budget consistently? Are you generally good about living below your means, or are you currently living paycheck-to-paycheck? For people who struggle with saving money, there’s a great new budgeting program designed just for you. called Stratus. This awesome website was founded on the principles that high-quality financial advice shouldn’t be limited to the ultra-wealthy. Stratus believes that individuals and families deserve the same level of personalized advice and attention as folks … [Read more...] about Stratus Review A Free Money Management Platform