A Health Savings Account (HSA) is an investment account that allows savers to invest capital into traditional assets (stocks, bonds, etc.), and then later use that money to help pay for medical expenses.
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The average person is going to need somewhere between 60-80% of their current income to maintain their standard of living during retirement. Why is the estimate for retirement lower than current income?
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So what is a good recession strategy? Evaluate your risk tolerance, allocation, and emotional ability to withstand losses BEFORE a recession, so that when it happens, you’re adequately able to deal with the results.
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It can be hard for many people to remove the emotional aspect of making investment and trading decisions. Numerous studies have shown that the majority of people under perform compared to professionals because of poor decision making and impulsivity.
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The insurance industry sows confusion by calling their salespeople “financial advisors”, when in reality they are annuity or life insurance salesmen. Once you wade through the sea of insurance salespeople, it is then possible to find a Certified Financial Planner CFP.
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I define a financial vampire as an asset whose value rapidly depreciates shortly after purchase and continues to decline in value as time goes on.
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However, lurking in the shadows and hidden from sight is the ugly truth about annuities. Their complex web of surrender charges, hidden fees, earnings caps, and “fine print” reveal an extremely predatory product that enriches insurance companies at the expense of hard-working Americans.
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One of the most popular budgeting plans is the 50/30/20 plan. This means that 50% of your after-tax income should go towards necessities, 30% towards “wants” and 20% towards debt and saving for retirement.
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Early retirement at 55 is a dream for many people, but the road to get there can be pretty difficult for most families. The Social Security Administration defines full retirement age as 65, and about half of Americans retire between the ages of 61 and 65.
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However, there are some minor differences that in our opinion make ETF’s superior for retail investors. Both ETF’s and mutual funds are containers that hold many different types of stocks within them, but those containers are different from each other.
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Tax-deferred growth is an extremely simple concept that can be leveraged by the average person to generate incredible wealth. In a nutshell, it just means you pay taxes later on the money that you’re currently growing in your account.
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Many people are surprised to learn that the inheritance of a retirement account like a 401(k) or IRA is determined by the beneficiary designation on the account, not on a will.
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