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.
Brick and mortar banks offer very low yield savings accounts. To name a few, these well known banks offer only 0.01-0.02% APY - WellsFargo, PNC, and TD Bank. If you want a high yield savings account offering 0.3% to 0.6% APY, you will have to go with an online savings account like Ally Bank, Discover, Citi Bank, Capital One, AMEX, or little known small online banks like Vio and One. As with most savings accounts, you are limited by fees…
The Roth IRA is an Individual Retirement Account that allows you to invest after-tax dollars that grow tax-free with tax-free withdrawals in retirement. You can also open a joint-account with your spouse. Like a Traditional IRA, the contribution limit is $6000 per year ($7000 if you are over 50 years old). If you withdraw your funds early, you can be subject to a 10% penalty and income taxes. That is unless you follow the rules of 5's. The 5-year Rule's…
Ethereum is a decentralized and open-source blockchain that was created back in 2015. Its cryptocurrency is called Ether (ETH). It is currently the second largest cryptocurrency after Bitcoin. As a crypto, it is more powerful and has more potential than Bitcoin (BTC) due to its smart contract functionality. Bitcoin, Tezos, and Ripple also have smart contracts, but the framework is not as robust as Ethereum. Since Bitcoin has a limited supply of $21 million Bitcoin and Ethereum does not currently…
Dave Ramsey created the 7 Baby Steps back in the early 1990's. If you are unfamiliar with Dave Ramsey or his 7 Baby Steps, read about them here. He touted how his process was the best way to become debt free and achieve financial peace. This was almost 30 years ago, and in that time, he continued to research and study millionairres. Today, he still promotes his baby steps. While his baby steps are very effective and successful, I am…
M1 Finance is a U.S. based online financial services company offering brokerage and custodial accounts, lines of credit, checking accounts, and IRA's. They are an SEC registered broker dealer and a member of FINRA and SPIC. Like Betterment and Wealthfront, M1 Finance is a robo-advisor, offering financial advice and pre-built expert portfolio's for everyone. Want a Green energy portfolio? They have it. Want a retirement based portfolio? They have it. Want a growth based portfolio or a dividend investment portfolio?…
Betterment, a smart money manager and robo-advisor, is a brokerage that offers retirement, investment, and cash accounts. Like Mint, NerdWallet, Wealthfront, and Personal Capital, Betterment allows you to link your external accounts (Banking, Mortgage, Loans, Credit, Home Value, Other Retirement Accounts and Brokerages) so that it can offer better advice and help you track your net worth and goals. If you are interested in growing your wealth with Betterment after reading this post, join through my referral link https://financethrottle.com/go/Betterment and…
I know I need to address what happened with Robinhood and GameStop last week. I do not agree with the way Robinhood handled things. On the flip side, I understand why Robinhood, Webull, TD Ameritrade, and other brokerages froze the ability to buy GameStop and other stocks involved in the subreddit Wallstreetbets strategy. If you don't know what I am talking about, click here to read my post explaining what happened. With that out of the way, this blog post…
Unless you are living under a rock, you may have noticed that all everyone is talking about this week is the subreddit WallStreetBets, GameStop stock rise, Hedge Funds filing for bankruptcy, and Robinhood's questionable actions. What happened? Wallstreetbets is a Reddit sub-group, or subreddit, of 6+ million people (retail investors), who all participated in a plan to "legally" steal from the rich. A Hedge Fund manages investments for the rich. They have minimum $200,000 salary requirements just to join and…
Dave Ramsey is a successful Businessman, Radio and YouTube Show Host, and Author. His large empire includes the "The Dave Ramsey Show", several published books including "The Total Money Makeover" and "Financial Peace", Ramsey+ Membership Services including the "Every Dollar" budgeting app, and Financial Peace University courses. What Dave is perhaps most well known for is his 7 Baby Steps. Dave created the 7 Baby Steps to help people achieve Financial Peace. BABY STEP #1 Save $1000 for an Emergency…
Just the other day I was talking to a co-worker about investing in stocks. He asked me about taxes which got me thinking "this is a good blog topic for tax time." While I am not an accountant or an expert on taxes, I do love to research. Want to try to file your taxes yourself? It's easy and can save you as much as $200 in filing costs when you file with Turbo Tax. Sign up for free with…
