Money Questions and Answers

The Best Passive Income Ideas for Retirees and Income After Retirement

Whether you’re 10 years away from retirement or retiring this year, money management and saving doesn’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. Mistakes such as increasing your spending, ignoring potential income opportunities, and borrowing money from your retirement account for nonessential purposes. Luckily, there are many ways to financially secure yourself and your spouse during your retirement years, and these strategies don’t necessarily involve taking on a part-time job to … Read more

How to Prepare Your Finances and Home for Hurricane Season

by Hank Coleman

The Atlantic hurricane season runs from June through November. August and September see the worst of hurricane season. According to the Weather Channel, August sees more than three times the number of storms as July, and it keeps building in September. September is the peak time of the year for hurricane season in the United States. And, most insurance companies require you to have homeowner’s, renter’s, or flood insurance for at least 30 days before your coverage kicks in and you can make a claim. So, now is the time to look at your home and insurance and prepare your finances for hurricane season. I grew up in Charleston, South Carolina. I lived through Hurricane Hugo in 1989 that ripped … Read more

5 Problems with Quitting Your Job to Travel the World

by Hank Coleman

There are countless stories circulating online about people who felt burned out from work so they saved up thousands of dollars, quit their jobs, and put their most treasured possessions in storage and began traveling the world with little more than a suitcase and laptop. In many cases, these people became travel bloggers, social media influencers, freelancers or English teachers to supplement their income while traveling – but how realistic is this major lifestyle decision? Even if you’re able to make money while jet-setting to different countries every few months, you likely wouldn’t be able to completely replace your regular job’s income, no matter how much the handful of successful travel bloggers promise it’s “possible” for anyone with the right … Read more

Stessa Review – Smart Income and Expense Tracking for Property Owners

by Hank Coleman

The decision to invest in rental properties has the potential to be enormously lucrative for your portfolio, but it can also be a great challenge if you’re unprepared for the obstacles involved in property investments and upkeep. Not only do you have to scout out qualified tenants and fulfill any requests they have during their lease, but you also have to maintain the property, repair any issues, stay up-to-date on property taxes, and restore it to pristine condition whenever tenants move out. Rental property ownership is further complicated by distance (if you live 2+ hours’ driving distance away from your rental property), as well as income/expense tracking, which can be quite complicated compared to managing your own personal finances. To … Read more

What Is an Inverted Yield Curve? And Why Investors Should Care

by Hank Coleman

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 should it be chalked up to overblown media hype? The answer is more considerably complicated than a simple “yes” or “no” in regards to whether the … Read more

Worthy Bonds Review – How to Easily Earn a 5% Rate of Return on Your Investments

by Hank Coleman

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. Worthy Bonds might be a great option for you! 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 Capital helps small businesses grow their operations by lending proceeds of Worthy Bonds to business owners who, in turn, provide collateral (e.g., inventory) to secure the funds. If you invest … Read more