Ideas from books, articles & podcasts.
If you can't save a good chunk of your paycheck every month, investing once now can help you start saving in the long run.
A favorite investing platform is Betterment, where your money will be automatically invested in index funds. Betterment's fee is a straightforward 0.25 percent of your total portfolio.
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The popular 50/30/20 rule states that you should reserve 50 percent of your budget for essentials like rent and food, 30 percent for discretionary spending, and 20 percent for savings.
But it's not that simple. If you're a high earner, you'd be wise to save a larger percentage of your inco...
You can take advantage of the tax-sheltered retirement accounts like 401(k)s and IRAs.
Assuming you're in your 20s or 30s and can earn an average investment return of five percent a year, you'll need to save about 20 percent of your income so you can reach financial independence when you're older.
Financial independence means that you can maintain your chosen lifestyle entir...
The four percent rule states that you could withdraw four percent of your principal balance every year and live on this indefinitely. That means you need to save 25 times your annual expenses to become financially independent.
The four percent rule is not perfect. There is no risk-free inv...
If you cant save 20 percent, you are not a failure. While everyone should aim for 20 percent, not everyone will hit the target on their first try.
Start small. Start with 1 percent. Slowly increase. Aim for higher, but if it leaves you stressed, scale back. However, keep t...
How long it will take you to amass 25 times your income is based on the percentage of your income you save.
When you save 20 percent of your income, assuming a five percent average annual return, you'll hit 25 times your yearly income in just over 40 years.
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When mortgage interest rates get low, refinancing isn't always the best choice.
Deciding when to refinance your home loan depends on several factors besides whether you can get a better mortgage rate.
published 4 ideas
The best way to attain financial success is not about having a budget or avoiding debt, or even choosing the right investments, but about having a system that makes automatic wealth creation possible for you while you sleep.
Investors make a lot of stupid financial decisions based on...
With this method, you pay off your debts from the smallest balance to the largest balance, regardless of interest rates.
When you pay the smallest debts first, you start to clear your low debts away very quickly. Doing this feels empowering. Once you've paid off a debt, yo...
published 3 ideas
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