Mistakes to Avoid when Buying A Business

We’ve all thought at one time or another about starting a business to have financial freedom and independence. Buying an existing business instead of starting one on our own can be a great option. You can get several benefits when buying a business since you acquire a business model that already works. You also get […]

What is a Risk and Financial Advisor?

Role of a risk and financial advisor. A risk and financial advisor is a professional who helps you decide how you use your money, where to invest, and other financial health issues. They also help you identify, manage, and develop strategies to minimize financial risk. Risk and financial advisors have multiple functions, but in short, […]

401a vs. 401k: What Is the Difference?

Do you need a 401a or a 401k? A 401a and a 401k are Defined Contribution (DC) retirement plans. Employees contribute a percentage of their paychecks into a retirement account. They are sponsored by their employer, who may opt to match a portion of their employee’s contribution to boost their savings. Access to these accounts […]

How Old Do You Have to Be to Buy Stocks?

Start Investing When Young The younger generations have shown great interest and awareness of the advantages of starting to invest at an early age. Even though many are still students, young people have sought ways to be informed and updated on investment topics. Using Technology to Invest Websites such as Reddit and apps such as […]

What Is a Contributory IRA? Tax Benefits and Investment Options

A contributory IRA is an individual retirement account arrangement where an employee deposits funds directly from their salary to a pension. The employer is encouraged to match the contribution to an individual retirement account. Also, many employers boost employees’ individual retirement accounts (IRA) by depositing additional contributions. The employee gets to choose where they will […]

[Updated 2023] How Many IRAs Can You Have? IRA Types and Contribution Limits

There is no limitation to the number of individual retirement accounts (IRAs) you can open. It is the amount of the IRA contribution that is capped annually by the Internal Revenue Service (IRS). The limits are based on the type of plan, the account holder’s age, and how much the individual earns. Types of IRAs […]

Roth IRA Pros and Cons

A Roth IRA is a contributory individual retirement account (IRA) where contributors make deposits from their earnings after tax has been deducted. These IRAs are designated as Roth during setup, so the contributor cannot seek tax deductions for their annual contributions as they file returns. Because the savings comprise after-tax dollars, the participants are not […]

How Many Times Can You Take a VA Loan?

One of the biggest obstacles to buying a new home or getting a business off the ground is often the capital you need to start. Whenever servicemen and women need to “move up” as far as buying a house is concerned, they have a slight advantage if they go through the VA loan program. Like […]

Creating a Successful Budget

Advantage of having a clear budget A budget can be seen as a map toward financial freedom. It uses decisions as landmarks for where you need to be, what you should have at each point, and how to get there. The budget features income and expenses, and the ultimate goal of creating a successful budget […]

What Is A Mutual Fund?

A mutual fund is a financial vehicle that pools money from multiple investors to buy stocks, money market instruments, bonds, ETFs (Exchange Traded Funds), and other securities. Mutual funds are run by money managers who allocate the funds in the most profitable way for investors. All mutual funds have a prospectus. The fund’s prospectus includes […]