What Every Couple Must Do Before Combining Finances
Combining finances with your partner is important, but you’ll need to discuss a few things first.
Search Results for: retirement
3 Big Money Mistakes American Workers Are Making
We all make mistakes with our finances. I’m not talking about making hard decisions and choosing which bills to pay and which to leave for another month. These are simple financial choices and the biggest money mistakes American workers are making with their paychecks. The economy is still struggling, and far too many employees are turning away free money and lending other money from their hard-earned paychecks to the government free of charge. Three Biggest Money Mistakes… 1. Not Capturing Their Employer Match According to a recent study conducted by the Financial Industries Regulatory Authority (FINRA), almost 30% of American workers do not contribute enough to their 401k retirement plans in order to capture their employer’s matching contribution. Typically, many employers … Read more
4 Strategies to Afford a Digital Nomad Life
The following is a guest post by Molly Barnes, author of the Digital Nomad Life. If you’d like to contribute a guest post to Money Q&A, check out our guest posting guidelines. Most people look forward to their annual vacation, it’s a great opportunity to enjoy some downtime. While a traditional one or two-week vacation may be refreshing, do you find you’re left wanting more out of your travel experiences? What if you could spend every day traveling? Seriously meaningful traveling — not just a week here or a long weekend there. Did you know you can make this a lifestyle by becoming a digital nomad? You’re probably wondering how you can do this without being a trust-fund baby or … Read more
How to Build Your Team of Advisors to Help You with Your Finances
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. You should build your team, your financial team. How to Build Your Team Corporations have boards of directors to help them make decisions and draft corporate strategies. 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 your personal board of directors. Add a Financial Planner to You Team We … Read more
What is the Paradox of Thrift? How Saving May Not Help the Country
The U.S. economy is booming right now, with unemployment rates at record lows, consumer spending rising at steady rates, new home construction rates skyrocketing, etc. Although economists are still concerned about things like the student loan debt crisis, rising rates of job automation, and the lack of affordable housing for low-income renters around the country, the American economy is performing its best since pre-2008 economic activity. However, what goes up must come down at some point. An economy this hot can’t grow endlessly without some kind of burnout, whether that eventually involves mass defaults on student loans, another housing market crash, or some unforeseen economic crisis in the coming years. In both good and bad economic times, it’s important to … Read more
Reader’s Question: Should You Invest Emergency Fund in Mutual Funds?
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 week’s featured question is from Jen who asks, “Should you invest an emergency fund in mutual funds?” Invest Emergency Fund Should you invest emergency … Read more