Americans are not very good about saving money, as the latest statistics from a Bankrate survey suggest. 19% of Americans don’t save anything, 21% of Americans save 5% or less of their annual income, and 25% only save about 6-10% of their annual income. Yikes! Combine these gloomy stats with the fact that about 40% of Americans retire with less than $10,000 saved up and a financial disaster is surely waiting to happen. Most people know how important it is to save money for unexpected expenses and long-term goals like retirement, so why are so … [Read more...] about Long Game Review – How to Turn Saving Into a Game
With some big name companies trading at over $1,000 per share nowadays, investors with less cash to pour into their portfolios are often intrigued by the potential of penny stocks, which are also referred to as over-the-counter or OTC stocks. As the name implies, these stocks are super cheap, typically trading at less than $1.00 per share (though the SEC defines penny stocks as those trading below $5.00 per share). Since they’re not traded on major stock exchanges, investors can find more information about penny stocks through the OTC … [Read more...] about Top 4 Reasons Penny Stocks Aren’t Worth the Money
There’s a lot of anxious buzz in the news lately about the potential for a market downturn – or even another “great recession” as some outlets are calling it – which was sparked largely by the brief inversion of the yield curve on Wednesday, August 14th. Specifically, the yield on 10-year U.S. Treasury notes fell lower than yields on the 2-year Treasury note, which left investors unsettled over the possibility of a recession hitting the U.S. economy in the near future. As an investor yourself, should you be worried about the yield curve or … [Read more...] about What Is an Inverted Yield Curve? And Why Investors Should Care
Wouldn’t it be great if you could score high returns on your investments while supporting companies that share your values? For investors who would prefer adding environmentally friendly and/or socially responsible companies’ stocks to their portfolios, this might seem like a distant dream since socially responsible investing typically isn’t correlated with great returns. However, there may be a silver lining on the horizon with Worthy Bonds, which sells SEC registered bonds designed to support small businesses in the U.S. Worthy Peer … [Read more...] about Worthy Bonds Review – How to Easily Earn a 5% Rate of Return on Your Investments
We all need a financial team on our side every now and then. You need help making decisions or even just bouncing ideas off of someone else. But we often don't know where to turn for help. Corporations have boards of directors to help them make decisions and draft corporate strategy. You should do the same. Develop your own team of professionals to help guide you through life and the financial decisions you make for your family. Think of your certified financial planner, lawyer, certified public accountant and real estate broker as members of … [Read more...] about How to Build Your Team of Advisors to Help You with Your Finances
This is a Reader Question in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on a future blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of my top ten best personal finance books that everyone should read. Now...on to our reader's question. This … [Read more...] about Reader’s Question: Should You Invest Emergency Fund in Mutual Funds?