Our society has a long way to go toward financial equality. According to The Money Charity, women make 17.4% less than males. Unfortunately, there is a significant gender disparity in financial understanding. For example, a 2017 survey by the Fawcett Society found that women are less likely than men to understand essential financial concepts. Only … Read more
When it comes to money management, there seem to be dozens of distinct goals. Saving for retirement, college, a house, a car, a trip, and, perhaps, occasionally enjoying life. All of these factors are crucial. But where do you start? How do you determine the most efficient path? And, most importantly, what will genuinely make … Read more
Qualified retirement plans and individual retirement accounts (IRAs) enable you to save for retirement while minimizing your tax burden. Earnings from contributions grow tax-deferred or tax-free in Roth IRAs and Roth 401(k)s. When it comes to tax time, be sure you are up to speed on all regulations. Check The Contribution Deadline You have until … Read more
Are Dave Ramsey’s Baby Steps suitable for you? Dave Ramsey’s Baby Steps is one of the best-known financial planning concepts. The framework’s popularity stems from its simplicity. Simply follow the instructions in order, checking off each one before moving on to the next. But the major question is whether you should use the Baby Steps … Read more
According to a joint poll conducted by the Consumer Federation of America and the CFP Board, 48% of households having a financial plan characterized themselves as “living comfortably.” Those without a plan shared this emotion only 22% of the time. This guide explains seven basic stages for creating a financial plan, regardless of your income … Read more
Building generational wealth is not about being lucky or outperforming the stock market. Here are five ideas for increasing your net worth and ensuring that you leave assets for future generations. Individuals and families are increasingly considering the concept of generational wealth. The greatest wealth transfer in history is currently underway, with Baby Boomers passing … Read more
It is critical to not only accumulate more money, but also to spend it in ways that bring enjoyment. People who live in or near poverty may find it challenging to be happy. If you’re worried about having a roof over your head, it can be difficult to remain cheerful. But even millionaires are sad. … Read more
Time gives teenagers a significant advantage over those who begin their investment journey later in life. Albert Einstein once stated, “Compound interest is the eighth wonder of the world.” “He who understands it earns it; he who does not, pays it.” Compounding’s potency stems from its long-term impact. The longer you let an investment compound, … Read more
Making your money work for you instead of against you is one of the most powerful concepts in personal finance. Money doesn’t care if you’re sleepy, stressed, spending time with friends, or on vacation; it can work for you regardless. However, the opposite is also true. If you are not intentional with your money, it … Read more