Tag: Financial Advisor

Advice

Student loan forgiveness: It actually happened

Key Points and Takeaway Biden forgave $10k of student loan debt ($20k for Pell Grant Recipients) for individuals with income below $125,000 ($250,000 for married couples). Current students are also eligible. Moratorium on payments will end and payments shall resume on January 1, 2023 Information on how to claim student loan relief will be coming soon. Sign up here to be notified when information is … Continue reading Student loan forgiveness: It actually happened

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Advice

Porte, the 3% APY savings account – What’s the catch?

High-yield savings accounts (HYSA) do not feel high-yield anymore. The national average APY for US savings accounts is 0.06% according to the FDIC. 0.06% APY means that for every $10,000 you have tied up in a savings account, you are paid $6 per year. Obviously 0.06% will not protect you from any level of inflation, which means that these savings accounts are useless. Other online … Continue reading Porte, the 3% APY savings account – What’s the catch?

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Advice

Buying homes with friends: Millennials’ new recipe for drama

With the price of homes still at record highs, some Millennials are coming up with a new strategy to get into home ownership: buying homes with friends. Millennials are growing tired of paying higher rents and losing out on building equity in real estate and the appreciation on home values. Therefore, some are partnering with friends and roommates to buy a nicer home than any … Continue reading Buying homes with friends: Millennials’ new recipe for drama

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Advice

That’s a Yotta cash: The risk-free, lottery-based savings account

Saving cash is an important part of your financial planning. While “cash is trash” and similar headlines are spreading, having cash set aside is important for an emergency or making a big purchase soon. The reason why “cash is trash” has been going around is for two reasons: (1) interest rates on borrowing money is near record lows, and (2) the return on investing in … Continue reading That’s a Yotta cash: The risk-free, lottery-based savings account

Bob Bennett5 Comments
Advice

Simple Budgeting: The 50/30/20 rule-of-thumb budget

Most budgeting systems are time consuming and complex. The beauty of the rule-of-thumb budget is the speed and simplicity of it. All you need to know is your after-tax income. Once you have determined your after-tax income, you simply allocate it as follows: 50% towards your necessities 30% towards your wants 20% towards your financial goals Next is to define the categories: Necessities, Wants, and … Continue reading Simple Budgeting: The 50/30/20 rule-of-thumb budget

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Advice

Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?

So called financial gurus tell you that if you want to be rich, quit eating avocado toast and drinking Starbucks. Admittedly, this does remove expenses that may add up over time. However, that frugality alone won’t make you “rich.” Rather, understanding the ideas behind the “avoid paying $10 for avocado toast and $5 for coffee” is what will make you handle your money better and … Continue reading Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?

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Advice

Passive investing 102: What is passive investing?

Pas-sive – not reacting visibly to something that might be expected to produce manifestations of an emotion or feeling. Dictionary.com In most areas of life, being active is seen as the optimal choice. “Pursue your dreams.” “Take life by the horns.” “Don’t sit back and wait for life to happen to you.” However, when investing, being active can be a costly choice. Common Misconceptions: Often, … Continue reading Passive investing 102: What is passive investing?

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