Many options are available to individuals looking to grow their wealth when investing. Among the most popular investment vehicles are CDs, high-yield savings accounts, bonds, and US treasuries. Knowing the differences between each option can help you make an informed decision about where to save and invest your money. Certificates of Deposit (CDs) Certificates of … Low-Risk & High Return Investment and Saving Options
By: David Ashley, MD, MBA We keep hearing about the negative side of increasing interest rates in the news. It now costs more to borrow money for homes, cars, education, and other items requiring a loan. There is, however, a positive side to all of this. For the first time in over ten years, you … The Positive Aspect of Higher Interest Rates
When building wealth, compounding interest is one of the most powerful tools at your disposal. Compounding interest is the process by which the interest you earn on your savings is added to your principal balance, which then earns interest on both the principal and the interest earned. Over time, this can lead to significant growth … The Power of Compounding Interest
In today’s world, where the internet is easily accessible to a vast majority of people, online tutoring has become a popular side hustle for those looking to make extra income. The convenience and flexibility of online tutoring have made it an attractive option for both students and tutors alike. Why Become an Online Tutor? Online … <strong>The Top Side Hustle for 2023 – Online Tutoring</strong>
Adding extra income on the side can help you reach your financial goals faster. Here are seven ways to add additional income.
U.S Treasury Bonds and high-quality corporate bonds have always been considered a conservative and safe way to invest, compared to stocks. Many investment advisors would say, “subtract your age from 100, the number you get should be the percent of your portfolio invested in stocks, the rest should be in bonds”.
What is net worth? A simple answer is that it’s the combination of what you own (your assets) and what you owe (your liabilities). Subtract your liabilities from your assets, and you have your net worth.
Having an emergency reserve is essential for when unexpected life changes happen. Unexpected events can and do happen. Having some extra cash set aside will help you if an occasion arises.
An automatic savings account is a type of savings system that allows the account contributor to deposit a set amount of money into a savings account at pre-determined intervals. Most commonly, this would be in conjunction with the contributor’s regular pay schedule. It allows an individual to automatically transfer a fixed amount into a savings account, usually on the same cadence they receive their paycheck.
Compound interest accelerates the growth of savings and investments over time. The definition of compound interest is – the interest earned on an investment or savings account is reinvested into that same account, earning even more interest.
