Investing

If you’re living paycheck-to-paycheck, long-term savings and investment strategies aren’t exactly a priority. After all, you need to make sure you can afford basic human necessities like the roof over your head, utilities, and food, not to mention life necessities like car insurance and cell phone plans. Once everything is accounted for, what little is leftover from your last paycheck might be used to pay off debt or go out to dinner one night per month. Investing money in stocks, bonds, or any other option just doesn’t seem feasible, given your income/expense ratio. You know that investing is important, especially when it comes to saving for retirement, but the freedom to divert money to investments instead of necessities and debts … Read more

You could live to be 75 or even 100. You never know how many years you may live after retiring from your full-time job, which means extending your retirement savings is critically important for your quality of life. But, you can earn more income in retirement. If you’re concerned about whether your current savings will last, here are some exciting and useful ways to generate more income during retirement. Earn More Income Contribute to Your IRA or 401(k) Did you know that you can still contribute to retirement plans even after you retire? Doing so offers many financial advantages, such as growing your nest egg, prolonging your retirement savings, and potentially limiting your tax burden each year. You can even … Read more

The following is a guest post about diversification by Robert F. Roby, author of Wealth Simplified: The Secrets of Everyday People Who Retire Richer, Happier, and Earlier. If you’d like to submit a guest post to Money Q&A, be sure to check out our guest posting guidelines. A common refrain used by investors and advisors to describe diversification is “Don’t put all of your eggs in the same basket.” In its most simplistic terms, diversification means allocating your investment dollars to a variety of different assets, such as stocks, funds, bonds, and deposit products, within different sectors of the economy. Diversification typically involves investing in companies of different sizes, both large and small alike, in different industries and different sectors, … Read more

Although leasing a car is typically viewed as a not-so-financially savvy decision, there are certain situations in which leasing a car can actually be the best possible option. Whether you really like having the latest safety upgrades in your vehicle or perhaps you’re planning to move cross-country or overseas within a couple of years, leasing a car can be a good fit for your situation. And you might even be able to make a profit from it! What about thrid party auto lease buyouts? Did you know that some lease lending companies allow consumers to sell their leased vehicles to third parties? And, if demand for used cars is high – like it is in 2021 – then you could … Read more