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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

Not saving? These 3 reasons to save money will give you the motivation to start

January 27, 2023 by Brett Tams

Saving money takes discipline. And a certain amount of sacrifice.

The post Not saving? These 3 reasons to save money will give you the motivation to start appeared first on Discover Bank – Banking Topics Blog.

Posted in: Real Estate News Tagged: 2, 401k, Bank, Banking, Blog, brokerage, build, building, business, company, cost, couple, decision, discover, earnings, education, Emergency, Emergency Fund, expenses, FDIC, Fees, Financial Education, Financial Freedom, Financial Goals, Financial Planning, Financial Wize, FinancialWize, freedom, fund, goal, goals, good, great, Healthcare Costs, impact, Income, Invest, job, Job Security, Life, Lifestyle, Live, living expenses, Make, money, More, Motivation, new, News, Online Savings Account, opportunity, parents, party, paycheck, plan, Planning, Promos, retirement, retirement savings, right, save, Save Money, Saving, saving money, savings, Savings Account, savings goal, Savings Strategies, Savings Tips, security, simple, Small Business, starting a business, time, tools, Travel, Ways to Save, wealth, will, women, work, young

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

Law Eases the Way for Borrowers to Pay Student Loans, Invest

January 27, 2023 by Brett Tams

The new federal law could make it easier for student loan borrowers to repay their loans while saving for retirement.

Posted in: Loans, Moving Guide, Student Loans Tagged: 2, 2021, 2022, 2023, 529, 529 college savings plan, All, assets, Auto, before, beneficiary, bills, Blog, Borrow, College, College Savings, college savings plan, company, couple, Credit, Crisis, currency, data, Debt, deposit, earning, education, Emergency, employer, employer-sponsored retirement plan, expenses, Fall, Fees, fidelity, Finance, Financial Wellness, Financial Wize, FinancialWize, Forbearance, friendly, funds, government, higher education, How To, How to save for retirement, Income, Inflation, interest, interest rate, Invest, IRA, job, Joe Biden, Law, Live, loan, Loans, LOWER, Make, making, millennial, money, needs, nerdwallet, new, north carolina, offer, organization, Other, payments, pension, plan, planner, president, President Joe Biden, questions, rate, retirement, retirement account, retirement accounts, retirement plan, retirement savings, rollover, roth, Roth IRA, Salary, save, Saving, Saving for Retirement, savings, Savings Accounts, savings plan, secure 2.0, SECURE 2.0 Act, Spending, student, student debt, student loan, student loan debt, Student Loan Repayment, Student Loans, survey, tax, tax credit, under, value, wealth, wealth management, wellness, will, Wisconsin, withdrawal, workers

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

Tips for Surviving a Snarling Bear Market

January 27, 2023 by Brett Tams

Stay calm and let the bear back down.

Posted in: Mortgage News Tagged: 2, 2021, 2022, All, bear market, bear markets, before, ben, big, black, Buying, buying and selling, california, couple, crash, data, decades, decision, Economy, Emotions, experience, fiduciary, Financial Wize, FinancialWize, General, goals, good, great, Grow, index, Inflation, interest, interest rates, Investing, investment, investors, japanese, Learn, learned, low, lyft, market, markets, miles, Monetary policy, money, More, mountains, Move, News, plan, planner, Planning, podcast, portfolio, Rates, Recession, restaurant, retirement, right, second, Sell, selling, stock, stock market, stocks, story, Strategies, stress, The Stock Market, time, tips, trading, upgrade, value, wall, wealth, wealth management, will, woman, workers

How to Teach Your Kids About Money and Money Management

January 27, 2023 by Brett Tams

There’s a specific conversation I frequently have with people around my age. As they get closer to middle adulthood and look back on everything they’ve learned about money, they start to wonder—why didn’t they teach us this stuff in school? For whatever reason, the American education system is sorely lacking when it comes to personal

The post How to Teach Your Kids About Money and Money Management appeared first on MintLife Blog.

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Are We on the Verge of a Housing Boom or Bust?

January 27, 2023 by Brett Tams

Is real estate set to boom or is another bust imminent just a decade after the last housing crisis? There’s been a lot of chatter on both sides of the argument lately, so which one is it? We Should Be Booming, But We Aren’t? All the ingredients are in place for a housing boom Yet… Read More »Are We on the Verge of a Housing Boom or Bust?

The post Are We on the Verge of a Housing Boom or Bust? appeared first on The Truth About Mortgage.

Posted in: Mortgage News, Renting Tagged: action, All, American Dream, apartment, before, builders, building, Buy, buy a home, buyer, buyers, Buying, city, company, Competition, construction, Crisis, Deals, Debt, decades, decision, dream, estate, expectations, Fall, Financial Wize, FinancialWize, financing, first-time home buyer, flood, great, growth, healthcare, home, home builders, home buyer, home buyers, home loans, Home Price, home price growth, home prices, homebuyer, homes, Housing, housing crisis, Housing market, iBuyers, Inflation, Insurance, interest, inventory, limited inventory, list, list price, Listings, loan, Loans, low, Low inventory, low mortgage rates, low rates, LOWER, Make, making, market, markets, MBS, millennials, money, More, Mortgage, Mortgage News, Mortgage Rates, new, new home, Original, points, portfolio, premium, products, quality, rate, Rates, Real Estate, renovate, risk, sales, savings, Seasonality, Sell, sellers, selling, stock, student, student loan, student loan debt, Student Loans, survey, time, trends, value, wall, wealth, wealth management, will, Zillow

Do You Have Sound Money Values?

January 27, 2023 by Brett Tams

Do You Have Sound Money Values?

Money values are a set of beliefs about money and how it’s meant to be used. Do you believe that money is meant to be spent and enjoyed in the moment? Or do you believe that watching your pennies so you can retire early is your ultimate financial goal? Whether someone’s financial values are positive […]

The post Do You Have Sound Money Values? appeared first on SoFi.

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How Do Negative Interest Rates Work? What They May Mean for Your Wallet

January 27, 2023 by Brett Tams

Imagine a world where the bank pays you to take out a loan. This is what’s known as a negative interest rate, and while it may seem counterintuitive at first, it can have economic benefits in a struggling economy. So, how do negative interest rates work? During an economic downturn, banks may turn to negative

The post How Do Negative Interest Rates Work? What They May Mean for Your Wallet appeared first on MintLife Blog.

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