Why and How to Diversify with Real Estate – REITS + Real Estate Crowdfunding
Guest columnist, Joseph Hogue, CFA Don’t let the headaches of real estate investing keep you from diversifying your portfolio into one of the best long-term assets. Despite what you might hear on the 3am infomercials, real estate investing is hard work. Barbara explained in an earlier post about why she gave up being a landlord decades ago because of the constant headaches. I can relate. I started buying rental property early in my 20s. I had worked as a commercial real estate agent and wanted in on the cash returns and seemingly endless appreciation that was just getting started in 2002. I soon realized why real estate investing is far from the passive income strategy many websites make it out to be. Have you ever been called at 5am to light someone’s pilot light on a water heater? I have…many times. Wondering? Should I Buy Foreclosed Real Estate? Besides...
read moreSavings: Easy As Pie! Basic Savings Strategy
Basic Savings Strategy-Perfect Approach to Build Long-Term Wealth By staff columnist, Alexandra Deluise There are few things I enjoy in this world more than pie. Aside from being really delicious, pie also serves as a great guideline when designing savings plans. After all, who doesn’t want a big piece of financial pie? My favorite pie is apple, whereas my husband prefers pumpkin. Just as our tastes differ, so might your financial pie differ from the examples I have shown here. These pie charts are meant to be guidelines and hints, but are no substitute for professional financial advice. By creating an income, expenses, savings pie you gain an understanding of where your money is going. Only then can you figure out whether you’re on track to meet you financial life goals. First, know your pie. You must understand your income and expenses pie to become a saver. Let pie...
read moreCalSavers – California’s New Auto-IRA Program + Retirement Tips
California’s CalSavers is a Model Roth IRA Retirement Savings Program By staff columnist, Alexandra Deluise One of the most emphasized pieces of wealth-building includes maxing out any and all workplace retirement accounts. In fact, this is one of the common suggestions for people looking to become millionaires. Calsavers can help! Automated investing can make or break your retirement success. Taking advantage of tax-deferred retirement accounts, such as an IRA or 401(k), is another way that employees can ensure that they are making the best use of their earnings. While this is solid advice, it overlooks one key detail: not everyone has access to a retirement account through their employer! In fact, it’s estimated that 35% of employees do not have access to a workplace retirement fund. That’s a lot of people who don’t even have the option to save through an employer-sponsored retirement plan. Since people are typically more...
read moreThe Health Savings Account Guide + the Secret to its Wealth-Building Power
The HSA Can Catapult Your Wealth Several years ago, I was floored when my health insurance premiums topped $500. Oh, for the good old days. Last year, I paid over $700 per month. Recently, I gingerly opened next year’s health insurance estimate to discover that in 2019, I’ll pay more than $800 per month. And my health insurance plan has a deductible of thousands of dollars. Which means that before the health insurance company pays a reasonable percent of my health care expenses, I shell out thousands of dollars. Here’s where the beauty of a Health Savings Account (HSA) comes in. When my deductible hit the mid-four figures, I had to find a way to improve this expensive situation. And, I learned about the amazing Health Savings Account. It’s an account with potentially huge tax benefits. Here’s how an HSA works: You open the account, just like you would...
read moreGet Wealthy by Giving – A Guide to True Contentment
Get Wealthy-Beyond Money “Be thankful for what you have; you’ll end up having more. If you concentrate on what you don’t have, you will never, ever have enough.” Oprah Winfrey from Brainyquote.com In my youth, whenever something bad happened, my mom and dad said, “Well, it could be worse.” I’ve grown accustomed to training myself to jot down things I’m grateful for every day. Searching for a beautiful nugget in the worst situation can tweak your focus from what you lack to the abundance in your life. My Mom wrote this article several years ago, and I cherish it even more, as she passed away last January. I cherish her memory every day and continue to appreciate how she hammered in her lessons of charity and giving to others. Wealth is an attitude, not a dollar amount. Mom’s Get Wealthy by Giving – Thoughts Guest article, Helen Fabe (my...
read moreDon’t Fear the Stock Market (And Other Personal Finance News)
The world of personal finance is so rich (pun absolutely intended): from retirement advice to side hustles, and robo-advisors to the stock market, personal finance bloggers have something for everyone at any stage of their financial journey. This post roundup features many different viewpoints from the personal finance community. FIRE (Financial Independence Retire Early) is one of the current movements in the personal finance world. Everyone wants to know how they can liberate themselves from the 9-5 while still making ends meet. But is that a move everyone can make? Our first article argues that it might be more difficult than it seems. Even if FIRE is attainable, you need tools to get there. Some of the other articles we’ve chosen to share with you today feature one way you can get to financial independence and a health retirement fund: the stock market. It may seem scary, but these...
read moreBlooom Robo-Advisor Review – Investment Management Help for Your 401(k)
Blooom Makes Retirement Plan Investing Easy If you’re like most workers, you understand your job just fine, but your retirement account is another matter. With all the various fund choices, how to manage your retirement account seems a bit confusing. Blooom was designed to oversee your precious workplace retirement investment account to earn more money for you. I had my retirement account analyzed in minutes, for free and you can too. Just click below. Blooom Retirement Account Management Is for the Regular Investor If you’re like the 99% of all investors, you’re seeking: Simple 401(k), 403(b) or TSP account management. For a low fee. More money for the future. Low $10 per month fee to manage your workplace retirement account, regardless of the value of the account. This is how the Blooom retirement account management can help you: Blooom also offers you direct access to financial advisors. You can...
read moreOnTrajectory, the ‘Google Maps’ of Financial Planning Answers the Question; Can I Retire Early?
Can I Retire Early? Get the Answer Big and even small regular expenses can sabotage a comfy retirement. Are you curious about how decisions about car purchases and lattes, might affect plans for retirement? Maybe you’ve never thought about the relationship between your new car and your retirement date. Can I Retire Early? OnTrajectory Shows If You’re On Track for Retirement What is OnTrajectory and How Can it Help Me? OnTrajectory.com is a “fin-tech” startup helping you map your current and future financial journey. This platform gives you vivid illustrations of your income, expenses, and investments. After inputting some basic information, you gain an immediate sense of the path you’re on – whether it’s toward financial freedom, or financial disaster. (OnTrajectory is currently best suited for desktop and viewing on tablets, phone version will be available in the future.) OnTrajectory’s Tool Is Easy to Use Sign-up is quick and...
read more15 Best Ways to Withdraw Retirement Funds – The Right Way
By, Qplum Content Team Smart and Easy Ways to Withdraw Retirement Funds Most of us look at retirement with both a sense of anticipation and a feeling of dread. It is not easy to transition from accumulating wealth to suddenly managing years of withdrawals. Before you experience the joie de vivre, it would be prudent to consider chalking out a drawdown strategy that works for you. You have worked hard to accumulate wealth. You need your wealth to last through your life without running out. Knowing how to decumulate and generate income in a tax-efficient way is a complex task, but just as crucial. Bonus; Money Can’t Buy Happiness, But….. Steps to De-cumulation 1. Set aside some money for leisure Before you plan a draw down strategy for your day-to-day living, consider allocating an amount you would require for leisure. These could include traveling the world, starting a new hobby, or...
read moreHow to Choose Mutual Funds? Reader Question
John, a loyal reader wants to know how to choose mutual funds. How to Choose Mutual Funds “I would like your opinion and advice on how I should allocate my investments and my daughter’s investments among mutual funds. Both our accounts are with Fidelity. I am 56 and plan to retire at 60. I have $400,000 in IRAs (Traditional and Roth). My daughter is 24 and has $65,000 in an individual acct and $50,000 in both Roth and rollover IRA. There are so many funds to choose from and I feel overwhelmed. Any suggestions would be helpful.” Too Much Fund Information is Not Always Better There is scientific evidence that it is more difficult to make a decision when confronted with a large number of choices, than when given just a few choices. The Paradox of Choice, one of my favorite books, is devoted to this topic. The author, Barry Schwartz...
read moreHow to Build Wealth with Money Strategies + Investing Books
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