Don’t File Your Taxes Until You Have These 7 Things
Before you file your taxes this year, make sure you grab these documents.
Before you file your taxes this year, make sure you grab these documents.
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My name is Zach, and I write at Four Pillar Freedom, where I tend to tackle financial topics through data visualization. While J.D. is on vacation, I offered to explore one of his favorite topics: the effects of saving rate versus investment returns.
Albert Einstein supposedly once said that compound interest is the eighth wonder of the world.But does data actually support this claim?
In this post, I explore the nature of compound interest, how long it takes to become an important factor in wealth accumulation, and whether or not it actually matters much for people who hope to achieve financial independence in a relatively short time.
What matters more: your saving rate or your investment returns?
Suppose your goal is to achieve a net worth of $1 million. If you invest $10,000 every year and earn a 7% annual return on your investments — which is a reasonable assumption for long-term stock market returns — you’ll accumulate $1 million in about 30.7 years.
The chart below shows exactly how long it would take to reach every $100,000 net worth milestone, using the assumptions of a $10,000 annual investment earning a 7% annual return:
Notice how each $100,000 net worth milestone takes less time to reach than the last. In fact, it’s mind-boggling to see that it will take youlongerto go from $0 to $100,000 than it will to go from $600,000 to $1 million:
The first $100,000 takes the longest to save because you don’t receive much help from investment returns early on. The time it takes you to go from $0 to $100,000 is mostly dependent on the gap between your income and your spending.
A home equity line of credit, or HELOC, is a great financial tool that allows homeowners to tap into their available equity as needed. HELOCs work similarly to credit cards in that you have access to a credit line â up to a certain limit â and can spend as much or as little as… View Article
The post Understanding the Home Equity Line of Credit (HELOC) first appeared on Total Mortgage.
Personal finance 101 may not be on your course schedule, but that doesnât mean you canât school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.Personal finance 101 may not be on your course schedule, but that doesnât mean you canât school yourself on how to manage money. Learn these 10 personal finance rules that you can’t afford to break.
The post 10 Personal Finance Rules College Students Canât Afford To Break appeared first on Money Under 30.
Another quarter in the books! Every three months, Iâll be taking a look at my personal finances, recent news from The Best Interest, and more dog pictures. Here are my previous quarterly updates: Q1 2021 Q2 2021 Q3 2021 Annual Review 2021 Why share this info? To brag?! No way! I want to be transparent. I practice what I preach… Read More »Net Worth, Projects, and Dogs â Update Q1 2022
There are plenty of reasons why you would need to transfer money internationally. Reasons include sending money to friends and family overseas, purchasing investments or divestments, buying a home abroad, or directly paying for accommodations for an upcoming international vacation. This is why it is crucial that you find an international money transfer service that […]
The post OFX Money Transfer Review appeared first on Good Financial Cents®.
Betterment offers the best combination of investment options, tax-loss harvesting and low fees of any robo-advisor – with no minimum investment requirement.
The post Betterment Review: The Original Robo-Advisor Service appeared first on Bible Money Matters and was written by Peter Anderson. Copyright © Bible Money Matters – please visit biblemoneymatters.com for more great content.
Learn how to set up a trust and make smart money decisions with this step-by-step guide for Gen Zers. Understand the tax implications, cost, and responsibilities of being a trustee.Learn how to set up a trust and make smart money decisions with this step-by-step guide for Gen Zers. Understand the tax implications, cost, and responsibilities of being a trustee.
The post How to Set Up a Trust: A Step-by-Step Guide appeared first on Money Under 30.
When it comes to money, thereâs nothing as empowering as having a good understanding of your finances and achieving financial freedom. However, women can often struggle to feel confident in their ability to invest or simply save altogether. On average, women invest 40 percent less than men and retire with two-thirds of the money â
The post Investing Advice We Can Learn from 10 Successful Lady Bosses appeared first on MintLife Blog.