A few weeks ago on The Simple Dollar, Saundra Latham wrote a nice summary of how a backdoor Roth IRA works.
A few weeks ago on The Simple Dollar, Saundra Latham wrote a nice summary of how a backdoor Roth IRA works.
(Reuters) - JPMorgan Chase & Co (JPM.N), the largest U.S. bank by assets, on Tuesday reported a slump in bond trading revenue that it blamed on market volatility and a smaller-than-expected quarterly profit. Its shares fell 1.3 percent to $99.
Executive Summary Why is Python a great programming language for finance professionals to learn?Python is a high-level programming language, meaning that it abstracts away and handles many of the technical aspects of programming, such as memory management, that must be explicitly handled in other la
If you’re like the average American, you’re already losing a bit of steam on your New Year’s resolutions. Rather than fret over all of the ways you’re not measuring up, though, cross an easy one off of your list, and invest a little extra money.
(Reuters) - Wells Fargo & Co on Tuesday reported quarterly revenue that missed analysts’ estimates, as revenue across all its banking units declined, especially at community banking, the unit at the center of its 2016 sales scandal. Shares of the San Francisco-based lender were down 1.
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On a sunny Saturday morning in New York a few months ago, a group of 50 start-up founders gathered in the dank basement of a Lower East Side bar. They scribbled notes at long tables, sipping coffee and LaCroix while a stack of pizza boxes emanated the odor of hot garlic.
Randall Stephenson, AT&T’s chairman-CEO, summoned all of his folksy Oklahoma earnestness as he made an enthusiastic pitch to Wall Street analysts about the telephone company’s bold efforts to transform itself into a multimedia powerhouse.
We've featured a lot of tips from The Simple Dollar's Trent Hamm—from buying in bulkand earning money online to managing a career hiatusand overcoming decision fatigue. Here, he shares his ten most important pieces of financial advice. This post originally appeared on The Simple Dollar.
Not everyone has a financial adviser, and not everyone has the time to read a personal finance book. Luckily, there's the internet.
When you start getting your finances in order, it’s exciting. You see the basic concepts and rules of personal finance in action, and, after a while, they start to pay off. This makes it easy to become a personal finance devotee. But even the best financial advice can become counterproductive.
When the tech bubble burst around the turn of the millennium, it proved we had a lot more to learn about the digital economy. With many entrepreneurial workers unemployed, many learned how to become entrepreneurs online. This brought the advent of the personal finance blogger.
Most successful tech startups raise their first capital from friends and family investors. The startup funding sources are illustrated here. Friends and Family financings are always the easiest to complete - often taking less than two months from start to finish.
Living off dividends is the dream for many investors. If you have enough saved and properly invested, you can take home a comfortable salary without working at all. This calculator will help estimate how much you’ll need to accomplish this goal.
Personal finance is like nutrition: It seems like the experts in this arena can’t agree on anything, whether it’s setting up an emergency fund or paying off your mortgage early. Despite all the contrasting opinions, though, most people agree on at least five basic fundamentals.
When you’re drowning in debt, managing your personal finances probably seems downright impossible. You read all these headlines about investing and financial independence and you just want to give up, because you’re so far from that.
Are you vowing to get ahead financially in 2017 but not exactly sure how? Some expert advice can help. The key, though, is to get information you can trust. GOBankingRates asked 17 of the most well-known names in personal finance and entrepreneurship to share their No. 1 money tip for the year.
The specifics of managing your finances can be complex, but the basic principles of good financial health are simple. Above all else, put your future money towards saving rather than spending.
When you really break it down, a lot of financial advice turns out to be the same. Spend less, save more, and reduce expenses. So, how do so many articles continue to get written on the topic? Simple: we need to hear it repeatedly.
If you’re having a hard time deciding which stuff in your basement you should get rid of, ask yourself, “Would I buy this again today?” If you wouldn’t, it might be time to get rid of it.
Since we tend to decide that it’s rude to talk about money with other people, it can be hard to figure out how to go from being broke to financially stable. This spreadsheet can help you explore the difference.
Amid record amounts of capital raised by VCs worldwide, and a sharp rise in the number of private “unicorns” valued at $1 billion-plus, there has been a quiet, barely noticed implosion in early-stage VC activity worldwide. The chart below is dramatic, and accurate.
One of the easiest personal finance tips out there is to simply stop wanting more stuff. It’s simple, but it’s true–if you had an easy way to basically eliminate your desire to acquire anything new aside from things to cover your barest needs, personal finance would become incredibly easy.
Money isn’t as complicated as it seems, but when your finances are out of control, managing money does indeed seem overwhelming. To get started, here’s the first thing you should do, according to one financial planner.
When you see a few dishes in the sink, you don’t stress over it because it’s not critical. You can get it later. When you come back in a couple days, the sink is overflowing. Now it’s a drain on your energy to do a basic task. Next time, kill the beast while it’s still a babe.
When we need suggestions or advice, we typically lean on those around us for tips. However, when it comes to personal finance, this strategy can backfire for one simple reason: most people you know aren't finance experts.
At first, it seems kind of weird that a financial planner should urge you to “just spend the money,” but that’s what I like about author and Certified Financial Planner Carl Richards. He reminds us that money isn’t some vague goal you should work toward. It’s just a tool.
Ask any personal finance expert and they’ll tell you that the earlier you can save, the better. The uncomfortable corrolary to that is that if you start saving late, you’re screwed. And yes, it’s harder, but your life doesn’t have to be ruined.
You need to invest your money wisely in order to really grow it, but unfortunately not many people know about the basics of investing, much less the stock market.
Only recently has it become possible to fully automate your expenses. However, finance blog I Heart Budgets proposes taking this idea a step further: by automating all of your finances, you can effectively live "money free." The concept is so simple it almost doesn't feel like it's possible.
A while back, I was asked to give an hourlong presentation where I talked about my key principles of personal finance. I chose to give a presentation where each slide was available for about a minute with one simple rule on each slide, giving me a minute to discuss that rule.
1. Don't get a salary. A salary will never make you money. 2. Don't invest any of your money. Investing is for wealth preservation, not wealth creation, so first you have to make wealth.
On the surface, personal finance seems to be primarily about money: getting rich and optimizing your investments and so on. It’s definitely about all of that stuff, but in a larger, more important way, it has nothing to do with money at all.
One of the struggles of covering personal finance is that the tips and tricks most experts recommend only make sense for a certain group of people: Those who have some disposable income and are likely upwardly mobile.
We've talked about the virtues of having an emergency fund. However, as finance blog The Simple Dollar highlights, money in an emergency fund is money that's not in your investment portfolio. So, how much should you keep in it?
Warren Buffett is a hugely successful investor, and his tips for investing are surprisingly accessible. Most of his methods are simple, straightforward and timeless. Here's some of Buffett's best money advice. Buffett warns against excessive borrowing.
If you go looking for financial advice, you’ll find tons of it. Heck, we’ve even got our own blog devoted to it. However, if you’re looking to make a change to your financial life, you probably already know where to start.
Knowing how to make money doesn’t mean you know how to save it, as is evidenced by a startling statistic reported on by Polly Mosendz at Bloomberg: According to a new survey of 7,052 people by the financial-services site GoBankingRates, nearly half of people earning between $100,000 and $149,999
Do you have trouble saving up money? Do you fret over bills and debt on a regular basis? Do you feel lost when others speak using financial lingo? If so, here’s the good news: it’s never too late to learn about money. Thanks to these amazing resources, money management has never been easier.
If your financial plan is to save, save, save and never spend a dime on anything fun, you’ll burn out really quickly. It’s okay to include a little fun spending in your budget, but the “Pick 3" rule can help you make the most of that spending.
Most people cringe to see the words “money” and “happiness” in the same sentence, and rightfully so. Money doesn’t equal happiness. You can, however, use money in a way that satisfies your own values. To find those values, it helps to consider your happiest moments.
Like many people who suddenly realize how bad their financial situation is, we dove hard into frugality during the first few months of our financial turnaround.It makes sense, really. Frugality is the best personal finance tactic there is for seeing immediate results.
Whenever we talk about budgeting, we usually discuss separating out your expenses into different categories. However, this is usually a mental exercise. Physically separating that money into separate accounts, though, might make budgeting easier.
As you approach adulthood and start to think about your future, are you ready to be financially responsible for yourself? If you answered yes, congratulations—you’re ahead of the game! But if you answered no, don’t worry—there’s still plenty of time to set yourself up for success.
We all know living beyond your means and not having an emergency fund can wreck your finances. While most money flubs are obvious, some mistakes start with good financial intentions. Here are some savings habits that can backfire and end up costing you.
AP/John Minchillo Maybe you haven't quite hit the six-figure salary bracket just yet but you've got a retirement plan and set up a brokerage account.
You don’t have to learn everything about money at once, but a course can teach you a lot of useful information at a reasonable pace. Especially if you never learned personal finance to begin with, a course will help you get up to speed on the basics.
Skills are the gateway to a better quality career and life. The problem is, money is tight for most of us after covering rent/mortgage, car payments, and just maintaining our quality of life. But don’t worry, there are many ways for you to acquire new skills without breaking the bank.
I’m sure you’re already thinking, “5 years is too long for me to “plan” but in reality it isn’t. We aren’t addressing what to do when you reach retirement or any other really long term goal. Think of 5 years as the standard.
You’ve heard that bringing your own lunch to work can save you money, but how much does it really save? According to personal finance site Money Crashers, it’s a lot. Money Crashers broke down various categories of food and drink that many of us tend to buy from a store each day.
Survey results show that as their role expands to include ever more nonfinancial demands, CFOs know they must build new skills to lead.
Investing seems intimidating, but it's actually pretty easy once you get started. Of course, you can still make mistakes, and those mistakes can be costly. Here are a few of the most common ones to avoid. Openfolio is a website that lets you compare your investing strategy to others'.
Saving money isn’t just a habit, it’s an emotional shift. Money in your account feels like money you can spend. If it doesn’t go anywhere, it cries out to you. To hijack that feeling, start your savings with an investment.
Much of the financial industry was built around the needs and demands of people already in it. But the recession, if anything, was a wake-up call to investors and insiders alike that such a system is vulnerable. The majority of U.S.
Wouldn’t it be nice to retire early? It might seem like a pipe dream to many, but if you run your personal finances like a business, you’ll probably be more successful at retiring early.
Money management can be intimidating, but the first step to facing your financial anxiety is coming to terms with your own financial picture. If you’re not sure where to start, spend just one minute each day looking at your finances.
It sounds crazy, but yes, personal finance can be exciting. Not like, “we’re going to Disneyworld!” exciting, but more like, “how exciting, I finally have control of my debt.
Last month we made the case for why Millennials could become the next Greatest Generation of personal finance. According to the Strauss-Howe generational cycle theory, members of Generation Y parallel and share traits with the young people who came of age during the Great Depression.
This article first appeared at U.S. News and World Report Money. Most of the personal finance information that we hear and see is delivered in bite-sized nuggets, often in the form of investment recommendations and short cautionary tales.
Retirement is pretty far away for some of us. And it’s better to set smaller milestones for your savings now than to focus on the big, lump sum amount you’ll need to retire. However, it’s also interesting to look at the numbers, and this early retirement grid shows you how long it will take.
As a product-obsessed entrepreneur and investor, I rarely focus on financing mechanics in the start-up world. It tends to be a binary outcome, and people should join a venture for the team and mission more than anything else.
Meb Faber asked a bunch of us bloggers to give him our top 3-5 most read blog posts of the year. I looked back at my trusty Google Analytics for the first time in a while and discovered that two of my top three in terms of readership were personal finance-related posts.
Spend less than you earn is the golden rule of personal finance. It's incredibly simple, but it's not easy. Your brain likes to get in the way by tricking you to go against what you know to be true. Here's how your brain sabotages your finances, and how you can overcome those tendencies.
When you’re trying to get your finances together, there’s usually a question of trade-off. Do I pay off debt or save for an emergency? Do I save for retirement or a home down payment? Fidelity’s 50/15/5 rule addresses the most important financial goals by allocating your paycheck accordingly.
While I love writing and talking about all of the benefits of financial independence and financial progress, I’ll be the first to admit that the path is difficult. Although the ideas behind personal finance are easy, actually putting them into practice is incredibly hard.
Money issues can be tough to tackle. You feel like you have limited control over your finances, and that can be hugely discouraging. So we want to know—how do you stay motivated with your financial goals? Experts recommend different tips for making your goals easier to swallow.
Goldman Sachs has been particularly active in the last 2 years, backing 4 unique companies applying AI in financial technology. Deals and dollars to startups using AI algorithms reached record levels in 2016.
Last week a received a call from a reporter from VICE named Allie Conti, who is setting out on a journey to learn about managing money. Like many of her fellow Millennials, Ms. Conti doesn't have much experience with the markets, investing or even general personal finance:
I managed to totally screw things up for myself at the ages of 20, 22, 24, 29, 33, 37, and 40 so I decided to write everything I know about so-called “personal finance.” The first answer is: nothing. You need to know absolutely nothing about personal finance.
Money challenges seem to be popular at the end of the year, probably because we’re all nursing our holiday spending hangovers. These challenges might be gimmicky, but they’re still a great first step for getting started with personal finance.
You could spend hours trying to devise a flexible system to categorize and label every single expense you have, but it won’t necessarily help you. Instead, stick to a three-category budget to make things simple.
The snowball method is the best way to pay down your debt. If you’re skeptical and want to see how it will work, this spreadsheet will calculate exactly how long it will take to be debt free. It makes logical sense to pay off your highest interest rate debts first. Yet research shows that…
It takes commitment and time, but you can learn to manage your money even when there's not much of it. Follow these steps to set up a budget if you're broke. We've discussed how to create a basic, real-world budget, but that advice often doesn't apply when you're struggling to make ends meet.
Tired of an empty bank account? Want to eliminate the fear of receiving bills? Wouldn’t it be great to be free of your debt once and for all How to Get Rich: The Fastest Way to Get Out of Debt How to Get Rich: The Fastest Way to Get Out of Debt Imagine being debt free.
Money might not buy happiness, but getting your finances straight is pretty damn satisfying. It took some effort, but I found that managing my own money—instead of hiring a professional—made a big difference in straightening out my financial life.
Updated: Dec. 21, 2018 If you have stellar credit, you want a card with the most competitive offer. After all, if your credit qualifies you for the best, you deserve the best. With so many credit card offers, it’s hard to determine which cards are worth their salt.
Read enough financial advice and you can start to get the sense that any mistake or flaw in your financial life is catastrophic. In fact the opposite is true. Not only is it okay to be imperfect, but you can turn even the worst disaster around.
You know it’s important to get your money under control if you ever want to get out of debt, go on awesome vacations, or retire someday. The problem is, a lot of people don’t know where to start or feel like they don’t have time. If you have just a day, we have you covered.
The most basic money skills aren’t all that complicated, even if we make it so. To prove the point, Napkin Finance fits the basics into the space of a small napkin.
Managing your money and budgeting can be a daunting task, even if you're a spreadsheet ninja. Corralling accounts, watching your money move, and keeping track of everything can be tough, but there are personal finance tools that make the job much easier.
Today is January 10, 2017. That means that in ten days, this jerk will become the leader of the free world. Ugh. It still feels surreal to me. In less earth shattering news, the fact that it's 2017 also means that my "SaaS Funding in 2016" napkin needs an update.
Despite how simple the process can be, most of us are terrible at saving and paying bills. Here’s a strategy to effectively automate most of your finances to keep you saving and out of late fee trouble. Ramit Sethi of I Will Teach You To Be Rich.
Personal finance is not about living like a poor college student for the rest of your life. Spending and lifestyle inflation get a bad rap, but they’re not necessarily the enemy when it comes to your finances. It’s more about how you approach spending.
If you’re not a numbers person, finance is daunting. But having a grasp of terms like EBITDA and net present value are important no matter where you sit on the org chart.
It makes logical sense to pay off your highest interest rate debts first. Yet research shows that paying off smaller balances is actually more effective. It’s a good reminder that making financial progress isn’t just about logic, it’s also about behavior.
NOW that Uber is muscling in on their trade, London’s cabbies have become even surlier than usual. Meanwhile, the world’s hoteliers are grappling with Airbnb, and hardware-makers with cloud computing. Across industries, disrupters are reinventing how the business works.
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Whether you're living paycheck to paycheck or have been blindsided with unexpected expenses, hitting the big 4-0 with nothing in the bank for retirement isn't ideal.
Santa is gone, the decorations are down, and chances are, you’re feeling the sting of your holiday spending. If it crept up on you, your budget is strained, and now you’re worried about your finances, you’ll want to come up with a plan to recover.
The number one rule to financial success: spend less than you earn. And the best way to do that is to keep track of what you spend. Here are 10 tricks for crafting the perfect budget (and sticking to it). If you have a budget that isn't working from you, wipe the slate clean and start over.
Most people interested in personal finance have a goal to build wealth so they can have options, whether it's traveling, switching careers, or simply retirement. In making that happen, it's important to focus on income—earning more.
The start of the year is a great time to review and revamp our financial plans, including common resolutions like "save more money" or "pay down debt." Here are some ways to develop better money habits for all year round. True savings happen when we deviate from our habits.
Quite often, the “facts” that people tout when it comes to personal finance aren’t quite facts at all. Sometimes they’re just opinions stated with authority, or they’re based on incorrect information or assumptions.