In the aftershock of the recent recession, it is likely that many will find it difficult to find, change, or otherwise procure employment. According to the Bureau of Labor Statistics the unemployment rate has been fluctuating by approximately mere tenths of a point since the beginning of the year, while the average hourly earnings are [...]
Mutual funds are a great way to invest in the market. Pick a couple mutual funds appropriately, and you have instant diversification and no investing skills or regular maintenance that is needed from your end. About No Load Mutual Funds Mutual funds don’t come without some expenses, and the ones you currently invest in can [...]
An online savings account can make give you more bang for your buck on your money that is just sitting dormant. But what are the pros and cons of an online savings account? Pros: Higher Yield: You will receive a higher yield on your money. In other words, online savings accounts pay you more interest. [...]
At first glance the difference between a bank and a credit union may seem insignificant, but depending on your needs there are some pretty significant advantages to belonging to one over the other. Bank vs. Credit Union A credit union is a not-for-profit financial institution that is owned by the people who belong to the [...]
When Jeremy at Generation X Finance wrote The 401k Debit Card: Probably One of the Worst Ideas Ever, I couldn’t have agreed with him more. What is the 401k Debit Card? Obtaining a loan against your 401k is nothing new, but in the past it was a bit more difficult and the repayment terms were [...]
Commissions, fees and taxes eat away your investment profits, and before now the only way to avoid them was to not buy or sell any stocks. In October, Zecco.com was launched, which is a commission-free online brokerage program. What’s The Catch? There’s no catch. There is no charge for your first 10 stock trades a [...]
A reader posted the following comment on Maximum Allowable 401k Contribution: “Curious what your thoughts are on Roth 401k’s? Thanks!” Good question, Marjory. Let me see if I can answer your question as clearly as possible. First, let’s define what a Roth 401k, or Roth-K for short, really is. If you are familiar with a [...]
There’s nothing exhilarating about a retirement plan. You simply pick a few mutual funds when you open the account and deposit some money to be spread across your picks every month. Every six months or so you may review your statements, see how you are doing, maybe rebalance a few things, but mostly just keep [...]
Well, the theory that Cash is No Longer King seems to be holding up. Here’s an email I received yesterday from HSBC: Dear RYAN, We are writing to inform you that based on the recent drop by the Federal Reserve, HSBC Direct has adjusted your Online Savings Account rate to 4.25% APY. At 9x the [...]
