Successful investors are successful because they adhere to a set of principles. This post outlines ten essential investment strategies you need to build wealth. In short, if you’re wondering how to get rich without getting lucky, this article is for you.
When should you put your money into the market? When should you pull it out? Is there a best and worst time? Are you timing the market? If you are timing the market according to headlines, you’re doing it wrong.
When I started investing, I thought the best way to get rich was to pick hot individual stocks and buy low and sell high as often as possible. Compounding interest and tax-efficient investing was for suckers and old ladies. There were three problems with this way of thinking.
Death and taxes. I thought about the most depressing way to start this article, and mentioning those two inevitabilities was it. Okay, not really, but keeping them in mind is extremely important when thinking about tax-efficient retirement withdrawal strategies (and how to make your retirement savings last).
If your idea of a diverse portfolio is having both Apple and Microsoft, you need to better understand the concept of asset classes. Even if you own these high-performers, you’ve only invested in a single type – Mega-cap stocks. To diversify your investment portfolio, you’re either going to hire someone to do it for you or DIY. The latter approach requires an understanding of asset classes.
401k fees can cost tens of thousands of dollars in retirement savings over your lifetime. Hidden fees. Service fees. Registration fees. It doesn’t seem like much, but enough of them over time will consume your bottom line. Learn what the different fees are in your 401k and how to avoid them.
Are you a beginner investor? Don’t know where to start? Our detailed SoFi Invest review highlights its fees, account minimums, and more. Discover how SoFi Invest makes its platform so accessible.
“Failure is not an option!” You hear it all the time as a movie trope or in inspirational talks. You may even say it to yourself before a big task. We all know it doesn’t mean failure isn’t a possibility. It means something is so important that failure is unthinkable. The intended effect is to build focus and determination. But it’s not a mantra for life.
Isn’t it annoying when you’re offered something for “free” that’s anything but? They’re either hiding the real cost or have a mountain of qualifying conditions. We dug a bit deeper in our Credit Karma Tax review to find out how free their service really is.
There are things we need, and there are things we want. But there’s also a whole lot in between. Sometimes we fool ourselves into thinking that something we only want is something we need.
In the world of tax software, there are many options. But with something as potentially intimidating as taxes, a lot of people just assume that pricier is better. But what if pricier is just pricier? Today we find out in our TaxSlayer review.
What if your child doesn’t go to college? You may not want to pay taxes and penalty on savings you’ll never use. A UGMA or UTMA account may be the answer.
Parenthood. Nothing in this world prepares you for it. You can read all the books on saving for college, check out all the blogs, and google until your fingers are numb. Today we examine your best options for saving for college.
I had been with them for fourteen years. Then one day, I was let go like it was nothing. I had a 2-year-old and a newborn at home, and I was scared. After leaving the office, I drove to a nearby park, found an empty picnic table, and sat there in stunned silence. How was I going to tell my wife? How is this job loss going to affect our family?
If you have kids who may go to college someday, chances are that you have at least heard of a 529 College Savings Plan. But sometimes in the same breath, you may have also heard of something called a Coverdell Education Savings Account. What’s that all about?