Savings Accounts and CDs

Bettering Kids’ Lives (Pt. 3)

Our previous articles looked at our children's financial challenges and money moves we can make to help our kids. The foremost lesson for children, though, is to always save 10% of income – whether from an allowance, babysitting gigs or gifts, as well as their gross earnings and investment income later. Teach them early how to save and you teach the difference between mere riches and true wealth.

Why Is Market Timing Back?

Somehow, the once-sacrosanct buy and hold philosophy seems passé. Curiously, market timing now is the ticket. How did that happen?

What to Do With Cash

Holding cash these days means watching taxes and inflation chew its value away. But you need some cash on hand for emergencies. How much, and how do you allocate it to get the best return in a time of extremely low rates?

Low interest rates were not a problem back in the 1980s, when they were sky-high. Back then, you could get certificates of deposit paying a double-digit interest rate.  Today?  Good luck finding a single-digit on the left side of the decimal point reading anywhere north of the number “1.” 

Saving While in a War Zone

If you or your loved one serve in the military and are about to deploy in a dangerous area overseas, know your savings options. They are generous.

The Department of Defense’s savings deposit program (SDP) allows combat-zone service members to allocate fractions of – and in some cases, all – their combat pay to a savings account up to $10,000 per deployment.

How to Give to Children

Your children and grandchildren probably come to mind first when you want to contribute to another’s financial security and future. Here are key strategies.

The right choice depends on how much you intend to give as well as on your child or grandchild’s stage of life and the goal of the financial gift.

The 1% Savings Secret

Your salary grows every year – presumably – and so should your savings, if even in tiny amounts. Here’s how it all adds up.

Personal finance writing uses 1% a lot lately – either as the figure to annually increase your savings or as the select slice of the population the financially aspiring want to join. Can consistently saving 1% more each year help you gain entry into the top 1% we heard much about over the past few years?

Newlyweds: 3 Vital Discussions

Marriage is both a romantic and a financial union. While couples usually have broad discussions about the future, they often fail to talk about how to commingle the money and how to operate financially as a family. Discussing three important items at the outset makes the marriage run smoother.

Bringing two lives together to form one family unit is an exciting time. The joining of belongings, beliefs and money create an opportunity, but also stress.

The three things new couples need to discuss:

Potential Versus Real Wealth

You make a decent living, maybe even border on rich. Can you maintain that wealth and if so for how long? Here’s some perspective on how to build true wealth.

Part of the American Dream hinges on the freedom to pursue prosperity and success through hard work. We Americans enjoy the personal liberty to determine our own path in life; our capitalist society supports a path to financial freedom.

Why to Automate Finances

The easiest way to ensure your financial success is automate your finances. Simple to say, not so simple to do. Here’s how to start.

Automating finances means setting up computerized systems to take deposits, payments, investments and other transactions out of your hands – or at least out of your day-to-day thoughts.

Financial Emergency Prep

An emergency fund acts as a safety net, protecting you and your family from unforeseen circumstances where you need cash immediately. But you must be smart when you set it up, and know how to use it and for what purposes.

Emergencies are things we don’t want to even think about. But guess what? They do happen. Life can be full of unexpected obstacles. Having cash at hand will help you by providing you with more options and preventing you from taking on debt at the worst time possible. 

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