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Don’t File Your Taxes Until You Have These 7 Things

January 27, 2023 by Brett Tams

Before you file your taxes this year, make sure you grab these documents.

Posted in: Moving Guide Tagged: 1099, 1099 Form, 1099-C, 2, 2021, 2022, 2023, 401k, annuities, at home, Bank, bank account, banks, before, Benefits, boats, bonds, Broker, business, cents, company, contracts, Credit, credit card, Credit Card Debt, data, Debt, Deductible, deductions, deposit, dividends, drive in, employer, estate, expense, expenses, Extra Income, federal income taxes, Financial Wize, FinancialWize, freelancers, funds, gig, government, grocery, helpful, hold, home, Income, income tax, Income Taxes, Insurance, interest, investments, IRA, IRAs, irs, Law, Legal, list, lists, loan, loan interest, Loans, lyft, Make, Marketing, Medicare, military, money, More, Mortgage, mortgage interest, Original, Other, party, payments, pension, Personal, personal loan, plan, rate, Real Estate, rental, retirement, retirement account, Retirement Income, returns, right, routing number, savings, Savings Account, Savings Accounts, savings bonds, securities, security, social security, social security benefits, social security card, Software, standard deduction, student, student loan, tax, tax credit, tax deductible, tax deductions, tax filing, tax law, tax returns, taxes, tools, tuition, Uber, under, Unemployment, value, vehicles, W-2, will, woman, work, workers, working

Why Separate Bank Accounts in Marriage Might Make Sense

January 27, 2023 by Brett Tams

Advertising disclosure: Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners. If you’re married or living with your significant other, there’s a lot you share. Your home. Your weekend plans. Perhaps even a kid […]

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Posted in: Budgeting, Real Estate News Tagged: 2, 2021, Advertising, All, Amount Of Money, app, Apps, Arizona, assets, ATM, balance, Bank, bank account, bank accounts, before, Behavior, bills, Budget, Budgeting, Buy, california, chance, child care, Children, community property, company, couple, Credit, credit card, credit cards, Debt, Debts, disclosure, divorce, envelope system, evergreen, expenses, Family, family budget, finances, Financial Goals, financial independence, Financial Planning, Financial Wize, FinancialWize, Freebies, funds, gift, gifts, goals, groceries, Grow, habits, helpful, home, house, household, household income, idaho, impact, Income, inheritance, investments, job, Joint Account, kids, Learn, Life, living with your significant other, Loans, louisiana, Make, Make Money, Manage Money, marriage, married, merging finances, money, Money Management, More, Mortgage, needs, netflix, Nevada, new, Original, Other, Out of the House, Personal, plan, Planning, property, protect, Purchase, ready, Relationships, Rent, rental, repub, save, Save Money, savings, Savings Account, Savings Goals, second, secrets, separate accounts, single, Spending, spouse, Spring, states, student, Student Loans, subscriptions, survey, texas, the balance, time, tips, trust, unique, venmo, washington, wealth, Wedding, white, Wisconsin, withdrawal, work

Which matters more for building wealth: Your saving rate or your investment returns?

January 27, 2023 by Brett Tams

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?

Accumulating Wealth in the Early Years

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.

Posted in: Building Wealth, Investing, Retirement, Taxes Tagged: 2, All, asset allocation, before, big, buffett, build, building, building wealth, business, calculator, Compound, Compound Interest, compounding, couple, data, Early retirement, earning, environment, expenses, Fees, Financial Goals, financial independence, Financial Wize, FinancialWize, fire, freedom, gap, goal, goals, good, growth, heat, hold, household, Income, interest, Invest, Investing, investment, investment returns, investments, investors, job, jobs, journey, Life, low, LOWER, Main, Make, market, money, More, munger, net worth, News, Other, pinterest, rate, Rates, Real Life, retirees, retirement, returns, rich, right, save, Saving, saving rate, savings, Savings Account, single, Spending, stock, stock market, tax, The Stock Market, time, vacation, versus, warren, wealth, will, young

Understanding the Home Equity Line of Credit (HELOC)

January 27, 2023 by Brett Tams

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 — up to a certain limit — 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.

Posted in: Refinance, Renting Tagged: advisor, Bank, before, bills, Blog, Borrow, business, cars, College, Credit, credit card, credit cards, credit limit, Credit Report, credit score, Debt, debt consolidation, debt-to-income, Deductible, DTI, equity, expenses, expensive, Finance, Financial Wize, FinancialWize, foreclosure, fund, funds, General, good, great, HELOC, history, home, home equity, home equity line of credit, home equity loan, Home equity loans, Home Improvement, home loan, home renovation, Homeowner, homeowners, improvement, improvements, Income, interest, interest rate, interest rates, investments, late payments, lenders, Lifestyle, line of credit, loan, Loans, LOWER, Make, Medical, medical bills, money, Mortgage, needs, new, offer, Other, payment history, payments, Personal, Personal Loans, Planning, project, projects, questions, rate, Rates, ready, renovation, renovations, right, single, stable, tax, tax deductible, time, vacations, value, will, withdrawal, work

10 Personal Finance Rules College Students Can’t Afford To Break

January 27, 2023 by Brett Tams

Personal finance 101 may not be on your course schedule, but that doesn’t mean you can’t 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 doesn’t mean you can’t 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 Can’t Afford To Break appeared first on Money Under 30.

Posted in: Commercial Real Estate Tagged: 2021, advice, after college, All, assessment, Auto, auto insurance, average savings, Bank, before, Budget, Budgeting, build, building, business, car, Career, Careers, clear, College, college graduate, college students, company, cooking, Credit, credit card, credit cards, credit score, data, Debt, decades, decision, deposit, Direct Deposit, discover, diversify, dream, Emergency, Emergency Fund, employer, employer-sponsored retirement plan, entry, expense, expenses, experience, experts, Family, Fees, Finance, financial tips, Financial Wize, FinancialWize, first job, fund, funds, get started, goals, good, good credit, grace period, graduation, great, groceries, habits, health, healthy, home, How To, impact, Income, industry, Insurance, interest, interest rate, interest rates, Investing, investment, investment portfolio, investments, IRA, job, jobs, Learn, learned, lenders, Life, Live, LLC, loan, Loans, low, LOWER, Make, Manage Money, manage my money, market, Marketing, marriage, married, money, Money Management, More, Mortgage, mortgage loan, Move, needs, new, offers, office, opportunity, organize, Other, paycheck, payments, Personal, personal finance, plan, portfolio, principal, protect, Purchase, questions, rate, Rates, ready, refinancing, retirement, retirement plan, Review, rewards, right, risk, routine, running, Salary, sales, save, Save Money, Saving, Saving for Retirement, savings, Savings Account, School, search, single, Spending, stage, Start Saving, stress, student, student loan, Student Loans, students, Style, time, tips, title, tools, under, unique, value, wealthfront, will, work, young, young people

Net Worth, Projects, and Dogs – Update Q1 2022

January 27, 2023 by Brett Tams

Another quarter in the books! Every three months, I’ll 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 – Update Q1 2022

Posted in: Money Basics, Personal Finance Tagged: 2, 2021, 2022, 401k, advisor, All, all-time highs, Amazon, ask, basics, before, Benefits, big, Blog, book, Books, business, Career, Career Change, commute, Competition, cost, couple, crash, data, deductions, dogs, electric, entertaining, equity, expense, expenses, Finance, finances, Financial Advisor, Financial Literacy, Financial Wize, FinancialWize, fun, good, great, Grow, growth, helpful, home, home equity, How To, Income, Instagram, interest, Investing, investment, investments, investors, IRA, kids, Learn, Life, list, Make, market, markets, money, Money Basics, More, more money, net worth, new, News, organization, Other, Personal, personal finance, personal finances, podcast, portfolio, present, principal, projects, Purchase, questions, Revenue, Review, reward, risk, risk and reward, roth, Roth IRA, running, sales, Social Media, Spending, Spring, stock, stock market, stocks, story, tax, teaching, The Stock Market, time, Twitter, unique, update, updates, will, young

OFX Money Transfer Review

January 27, 2023 by Brett Tams

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®.

Posted in: Mortgage Tips Tagged: 2, 2021, 2022, AAMS, Accredited Asset Management Specialist, advisor, All, allowance, app, author, Bank, bank account, bank accounts, Banking, banks, before, Blog, blue, business, Buying, Buying a Home, cents, color, Commercial, Commercial Real Estate, commission, company, cons, contractors, cost, currency, custom, customer service, data, Deals, deductions, disclosure, Enforcement, entry, estate, exchange rate, experience, Family, Featured, Fees, Finance, Financial Advisor, Financial Freedom, Financial Wize, FinancialWize, freedom, funds, get started, good, Google, government, great, green, home, Illinois, Income, international, Investing, investment, investments, Learn, Legal, list, Live, low, LOWER, Main, Make, making, Manage Money, mobile, Mobile App, money, More, more money, needs, new, Offices, opportunity, Other, party, payments, Personal, personal finance, planner, Planning, podcast, policies, projects, pros, Pros and Cons, Purchase, rate, Rates, Real Estate, renting, Research, retirement, Retirement Planning, Review, right, science, SEC, selling, states, studying, time, Transaction, traveling abroad, Treasury, tuition, united, vacation, wants, wealth, wealth management, Wedding, will, work, youtube

Betterment Review: The Original Robo-Advisor Service

January 27, 2023 by Brett Tams

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.

Posted in: Investing, Money Basics Tagged: 2, 2021, advice, advisor, All, Alternatives, android, app, asset allocation, assets, ATM, balance, banks, barclays, basic, Benefits, betterment, blue, bond, bond funds, bonds, brokerage, brokerage firms, buffett, Buy, Capital Gains, capital gains tax, CDs, Checking Account, Checking Accounts, Children, codes, College, corporate bonds, cost, couple, cryptocurrencies, customer service, Debit Card, Debt, diversification, dividend, dividends, emerging market bonds, employer, employer-sponsored retirement plan, Employment, equity, ESG, estate, ETFs, expensive, FDIC, FDIC insurance, Fees, Financial advice, Financial Planning, Financial Wize, FinancialWize, fixed income, fund, funds, General, Getting Started, goal, goals, gold, good, Google, government, great, growth, growth stocks, household, household income, How To, improvement, Income, index, index fund, industry, Inflation, Insurance, interest, international, Invest, Investing, investing strategies, investment, investments, investors, iOS, iPhone, IRA, IRAs, irs, Life, Life Events, Long-term Savings, low, LOWER, Make, making, market, markets, marriage, mobile, Mobile App, model, modern, modern portfolio theory, money, Money Matters, More, Move, mpt, municipal bonds, natural, needs, new, novideo, offer, offers, Operations, opportunity, Original, Other, overdraft fees, passive, Personal, plan, Planning, Popular, portfolio, premium, principal, products, project, protection, quality, questions, rate, Rates, Real Estate, real estate investment, retirement, retirement accounts, retirement plan, Retirement Planning, retirement plans, Review, reward, risk, robo-advisor, robo-advisors, rollover, roth, safety, Saving, Saving for Retirement, savings, Savings Accounts, Schwab, second, securities, security, Sell, shares, short-term investment, single, smart, smart phone, stock, stock classes, stock market, stocks, Strategies, target, tax, tax rates, time, time horizon, title, tools, trading, traditional, Treasury, Treasury bonds, trusts, under, unique, value, value stocks, Vanguard, versus, visa, volatility, warren, will

How to Set Up a Trust: A Step-by-Step Guide

January 27, 2023 by Brett Tams

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.

Posted in: Investing, Life Insurance, Money Basics Tagged: 2, 2022, 2023, advice, advisor, All, Amount Of Money, annuities, assets, Bank, bank accounts, basic, before, beneficiaries, beneficiary, Benefits, bonds, Budgeting, Capital Gains, charity, Children, cost, couple, creditors, death, estate, Estate Planning, estate tax, expenses, experience, Family, federal income taxes, Fees, fiduciary, filing taxes, Financial Advisor, Financial Planning, Financial Wize, FinancialWize, funds, get started, gift, gifts, goals, grantor, great, guide, health, How To, Income, income tax, Income Taxes, Inflation, Insurance, interest, intestate, Investing, investments, irrevocable trust, irrevocable trusts, Law, Lawsuits, Learn, Legal, legal documents, Life, life insurance, list, Live, living expenses, living trust, living trusts, LOWER, maintenance, Make, making, Managing Money, Medical, money, money decisions, More, mutual funds, needs, net income, offer, organization, Other, ownership, party, Personal, plan, Planning, policies, probate, property, protect, protection, questions, Rates, Real Estate, Regulation, retirement, returns, revocable trust, right, savings, School, security, smart, Smart Money, spouse, states, stocks, tax, Tax Advantages, tax returns, taxable income, taxes, time, title, tools, trust, trustee, trusts, under, will

Investing Advice We Can Learn from 10 Successful Lady Bosses

January 27, 2023 by Brett Tams

When it comes to money, there’s 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 —

The post Investing Advice We Can Learn from 10 Successful Lady Bosses appeared first on MintLife Blog.

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