A recent survey by MagnifyMoney found that a significant portion of investors, particularly younger investors, have taken on debt to invest. Out of about 1000 investors surveyed, 40% took on debt to invest. Here's how that broke down by age group: Generation Percent who took on debt to invest Z80%Millennials60%X28% Baby boomers 9% Of those … Continue reading Don’t Take Out Personal Loans To Invest
We've all heard that investing in the stock market is risky and have encountered stories about people losing it all when investing poorly. People say that in order to keep your money safe, you should store it in the bank. That way you know it'll be there when you need it. But is this really … Continue reading Is Investing Riskier Than Saving?
Life is full of uncertainties. You may be having a perfectly fine day, and then all of a sudden, disaster strikes. Whether it's losing your job or ending up in the hospital, or even a more minor unexpected problem like your car breaking down, these setbacks can be devastating to those who are not prepared. … Continue reading Everything You Need To Know About Emergency Funds
Food-related expenses are the third largest category of expenditures for American families, according to the 2019 Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics. We previously published an article about how to save on your grocery bill, but another way to save money is by switching up your meal choices with cheaper (but … Continue reading Save Money By Switching To Healthier, More Satisfying Meals
Investing can be simple, or it can be quite complex. For most people, simplicity is the best choice. Just invest in a total market or S&P 500 index fund, and you'll be good to go (check out The Simple Way To Become A Millionaire). This allows you to take advantage of compounding in the stock … Continue reading Why I Like Covered Calls
Many people think that the primary way to become financially independent is by increasing your income so that you can quickly build up a nest egg. Others think that your savings rate is the most important. The truth is there are pros and cons to both approaches, and the fastest way to FI is by … Continue reading Which Is More Important For Reaching Financial Independence: Increasing Income or Increasing Savings Rate?
Everyone wants to be a millionaire, but no one wants to work for it. Here's the good news: you don't have to! There's a simple way to become a millionaire with almost no extra work. It only takes three steps. Step 1: Save No matter what income you make, save a portion of it every … Continue reading The Simple Way To Become A Millionaire
There has been a lot of talk about student loan debt in the news over the past couple years. The prevailing wisdom is that this debt, which students had to incur to pursue an education for a better life, is burdening the young generation and preventing them from succeeding. Recently, President Joe Biden has expressed … Continue reading Infographic: Student Loan Debt – Is It Really A Crisis?
Many of our articles discuss the best ways to manage your finances, but just because you know what you should do doesn't mean you actually do it. Do as I say, not as I do. In this article, I assess whether our own financial habits match up with experts' advice. Photo by cottonbro on Pexels.com … Continue reading Evaluating Our Own Financial Habits: Do We Follow Our Own Advice?
Saving up for retirement is hard work. It can take a lifetime to accumulate a large enough nest egg to live on (see How Much Money Do You Need To Retire), and once you finally do retire, you want to make sure your money never runs out before you pass away. What happens to your … Continue reading A Graphical Representation Of Why Your Retirement Withdrawal Rate Matters