You can find a money podcast to help you, whether you are new or an experienced investor. Experts in the field will discuss a variety of topics. Planet Money and Martinis and Your Money (all by YNAB) are just a few. All these shows are fantastic and provide lots of valuable information.
Martinis and Your Money
This episode features Lisa Zeiderman of Martinis and Your Money talking to Shannon McLay on the importance of financial independence in divorce. This podcast is all about personal finance and financial freedom. Subscribe to the podcast by downloading the GetPodcast App
Planet Money
Planet Money podcasts are an excellent way to learn more about economics and not spend too much time in school. With episodes lasting twenty minutes, you can listen while getting ready for work, driving to class, or exercising at the gym. Planet Money is not like traditional television shows. It's a podcast which explores the economy in greater detail than other news programs.
YNAB
The YNAB money podcast offers great advice for people who want to create a budget. ADHD can make money difficult for many people. You can listen to this podcast for tips and tricks to manage your grocery budget. With the price of food rising, grocery spending is becoming a major concern for many people. This podcast offers tips on grocery shopping and ways to avoid unnecessary purchases. You will also find strategies to make fun of food purchases.
Jake of All Trades
Jake of All Trades Money podcast is a great place for financial advice from two experts. The show features interviews of financial experts as well as current trends and long-term planning advice. Kirk and Jake offer their personal experience and expertise to help listeners make more informed financial decisions. Unfortunately, the show is currently on hiatus for at least 6 seasons.
Frankie Cotton
The Money Matters podcast is a great listen if you'd like to learn more about personal finance. Interviews with Black women in success and invaluable financial advice are part of the podcast. This podcast combines financial news with advice from business owners.
You will need a budget
You Need a Budget (American multi-platform personal budgeting tool) is based upon the envelope method. Lifehacker readers rated it as the best personal budgeting software of 2013. It was also named by Wirecutter a "great pick by hard-core money managers". This software is popular among those who are very meticulous about their finances.
FAQ
What are the 4 types of investments?
These are the four major types of investment: equity and cash.
Debt is an obligation to pay the money back at a later date. It is usually used as a way to finance large projects such as building houses, factories, etc. Equity can be defined as the purchase of shares in a business. Real estate is when you own land and buildings. Cash is what you currently have.
You are part owner of the company when you invest money in stocks, bonds or mutual funds. You share in the profits and losses.
What type of investments can you make?
There are many different kinds of investments available today.
Some of the most popular ones include:
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Stocks: Shares of a publicly traded company on a stock-exchange.
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Bonds are a loan between two parties secured against future earnings.
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Real estate is property owned by another person than the owner.
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Options – Contracts allow the buyer to choose between buying shares at a fixed rate and purchasing them within a time frame.
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Commodities – Raw materials like oil, gold and silver.
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Precious Metals - Gold and silver, platinum, and Palladium.
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Foreign currencies - Currencies that are not the U.S. Dollar
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Cash - Money that's deposited into banks.
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Treasury bills are short-term government debt.
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A business issue of commercial paper or debt.
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Mortgages – Individual loans that are made by financial institutions.
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Mutual Funds: Investment vehicles that pool money and distribute it among securities.
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ETFs – Exchange-traded funds are very similar to mutual funds except that they do not have sales commissions.
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Index funds - An investment vehicle that tracks the performance in a specific market sector or group.
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Leverage: The borrowing of money to amplify returns.
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Exchange Traded Funds, (ETFs), - A type of mutual fund trades on an exchange like any other security.
These funds offer diversification advantages which is the best thing about them.
Diversification refers to the ability to invest in more than one type of asset.
This helps protect you from the loss of one investment.
Do I need an IRA to invest?
A retirement account called an Individual Retirement Account (IRA), allows you to save taxes.
You can contribute after-tax dollars to IRAs, which allows you to build wealth quicker. These IRAs also offer tax benefits for money that you withdraw later.
For self-employed individuals or employees of small companies, IRAs may be especially beneficial.
Employers often offer employees matching contributions to their accounts. This means that you can save twice as many dollars if your employer offers a matching contribution.
How do you start investing and growing your money?
Learn how to make smart investments. By learning how to invest wisely, you will avoid losing all of your hard-earned money.
You can also learn how to grow food yourself. It isn't as difficult as it seems. You can easily grow enough vegetables to feed your family with the right tools.
You don't need much space either. You just need to have enough sunlight. You might also consider planting flowers around the house. They are very easy to care for, and they add beauty to any home.
Finally, if you want to save money, consider buying used items instead of brand-new ones. You will save money by buying used goods. They also last longer.
Statistics
- As a general rule of thumb, you want to aim to invest a total of 10% to 15% of your income each year for retirement — your employer match counts toward that goal. (nerdwallet.com)
- An important note to remember is that a bond may only net you a 3% return on your money over multiple years. (ruleoneinvesting.com)
- According to the Federal Reserve of St. Louis, only about half of millennials (those born from 1981-1996) are invested in the stock market. (schwab.com)
- 0.25% management fee $0 $500 Free career counseling plus loan discounts with a qualifying deposit Up to 1 year of free management with a qualifying deposit Get a $50 customer bonus when you fund your first taxable Investment Account (nerdwallet.com)
External Links
How To
How to Save Money Properly To Retire Early
Planning for retirement is the process of preparing your finances so that you can live comfortably after you retire. It is where you plan how much money that you want to have saved at retirement (usually 65). Consider how much you would like to spend your retirement money on. This includes things like travel, hobbies, and health care costs.
You don’t have to do it all yourself. A variety of financial professionals can help you decide which type of savings strategy is right for you. They'll examine your current situation and goals as well as any unique circumstances that could impact your ability to reach your goals.
There are two main types - traditional and Roth. Roth plans allow you put aside post-tax money while traditional retirement plans use pretax funds. Your preference will determine whether you prefer lower taxes now or later.
Traditional retirement plans
You can contribute pretax income to a traditional IRA. You can contribute up to 59 1/2 years if you are younger than 50. After that, you must start withdrawing funds if you want to keep contributing. After turning 70 1/2, the account is closed to you.
You might be eligible for a retirement pension if you have already begun saving. These pensions vary depending on where you work. Matching programs are offered by some employers that match employee contributions dollar to dollar. Other employers offer defined benefit programs that guarantee a fixed amount of monthly payments.
Roth Retirement Plans
With a Roth IRA, you pay taxes before putting money into the account. Once you reach retirement age, earnings can be withdrawn tax-free. There are however some restrictions. For example, you cannot take withdrawals for medical expenses.
A 401(k), another type of retirement plan, is also available. These benefits can often be offered by employers via payroll deductions. Employer match programs are another benefit that employees often receive.
401(k), plans
Most employers offer 401(k), which are plans that allow you to save money. With them, you put money into an account that's managed by your company. Your employer will automatically contribute a portion of every paycheck.
Your money will increase over time and you can decide how it is distributed at retirement. Many people choose to take their entire balance at one time. Others distribute the balance over their lifetime.
Other types of savings accounts
Other types are available from some companies. TD Ameritrade offers a ShareBuilder account. You can use this account to invest in stocks and ETFs as well as mutual funds. Plus, you can earn interest on all balances.
Ally Bank offers a MySavings Account. You can use this account to deposit cash checks, debit cards, credit card and cash. This account allows you to transfer money between accounts, or add money from external sources.
What next?
Once you have a clear idea of which type is most suitable for you, it's now time to invest! Find a reputable investment company first. Ask family members and friends for their experience with recommended firms. Check out reviews online to find out more about companies.
Next, calculate how much money you should save. This step involves figuring out your net worth. Net worth refers to assets such as your house, investments, and retirement funds. It also includes liabilities like debts owed to lenders.
Once you know how much money you have, divide that number by 25. This number is the amount of money you will need to save each month in order to reach your goal.
For instance, if you have $100,000 in net worth and want to retire at 65 when you are 65, you need to save $4,000 per year.