This page consists of investment related blog posts. Here you will find FinTech or investment app reviews and comparisons and you will learn about different ways to invest for retirement, for fun, for real estate, for your health, and for your education. Invest at your own risk.
The worst thing you can do is to blindly follow financial advice without doing your own research. I am not a financial advisor, but I can share some common mistakes in personal finance. Investing Without Research: Blindly investing in stocks or other financial instruments without understanding them or conducting thorough research can be risky. High-Risk Strategies: Pursuing high-risk investment strategies without considering one's risk tolerance or financial goals can lead to significant losses. Ignoring Emergency Fund: Some people suggest skipping…
For those who do not know, a 529 account is a state offered Education Savings Investment Account that allows you to save for the costs of higher eduction. This is a triple-tax advantaged account. Your contributions are state-tax deductible, earnings grow tax-free, and your distributions are tax-free ONLY if you use the money for educational expenses ranging from tuition costs to books to your dorm room rent. Your A 529 account can be for your self, your children, or another…
The New Year's is a time when people define their resolutions going forward. Many of you will have New Year's resolutions that focus on getting new material things, going after your dreams, confessing your love, or growing your careers. I believe it is important to invest $20 in a Vision Board. A vision board is just your basic cork board where you can pin down your goals in picture or word format. This Vision board should be hung up somewhere…
Intuit's popular personal finance app Mint is shutting down by the end of 2023. One of the few free budgeting apps available, Intuit is transitioning Mint users to Credit Karma where you can still track your credit score and net worth, but you can no longer create custom budgets. Let's talk alternatives! 1. Credit Karma As the parent company of Turbo Tax, Mint, Credit Karma, Mail Chimp, and Quickbooks, Intuit recognized that Mint and Credit Karma were similar enough to…
There are some big changes coming in 2024. Due to inflation, the contribution limits and income limits for many investment accounts will see the highest increases they have ever received from year to year. Now is the time to take advantage of these limit increases because there is a good chance they will decrease as we catch up with inflation. If you have multiple investment accounts, track your contribution limits using our Contribution Limit Tracker Spreadsheet. Check out the recently…
The idea behind Velocity Banking is to use the HELOC (Home Equity Line of Credit) to pay off high-interest debt, such as credit card balances, and then pay off the HELOC more quickly than you would be able to pay off the original debt. By doing this, you can potentially save money on interest charges and pay off your debt more quickly than you would have otherwise. Here's how it works in practice: Take out a HELOC on your home,…
Whether it's better to invest or save depends on your financial goals, time horizon, risk tolerance, and current financial situation. Here are a few things to consider: Financial goals: If your financial goal is to save money for a short-term expense, such as a down payment on a house or a vacation, then a savings account may be a better option than investing. However, if your goal is to save for retirement or another long-term goal, investing may be a…
Updated 1/29/2023 Can you believe TurboTax was created back in 1984? It took TurboTax years to get the IRS to allow them to create an online tax filing service. As per the agreement with the IRS, TurboTax allows individuals making less than $66,000 a year to use a free version of TurboTax. All you need to get started with TurboTax is a W2 and an account (If you use Mint, its the same Log-in and you get a discount). TurboTax…
Block is one of my favorite fin-tech companies. Block is the parent company of Square, Cash App, and more. Cash App is one of the top finance apps in the App Store and Google Play Store. The service is similar to PayPal and Venmo. It allows you to send, spend, or invest your money. You can buy stocks or Bitcoin. You can even bank with Cash App by setting up a direct deposit and getting a free cash back debit…
Crypto is a volatile asset that can be difficult to understand. With the IRS and SEC doubling down on crypto, you are now required to enter your social security number when joining a crypto brokerage like Coinbase. The IRS knows how much money you are making in the crypto space, therefore it is absolutely important to file your crypto capital gains and losses. If you have traded more than $20,000 within the tax year, you will probably receive a 1099-K…
