March 23, 2022
Chrysler calls balloon payment loans “Customer Choice Financing.” That might sound great, but the truth is, it’s practically the worst way you can finance anything! Today, we’re discussing the risks of balloon payments in two different but equally essential financing areas: Car loans Commercial mortgages Definition of Balloon Payments Loans or mortgages with a balloon Read more
March 22, 2022
What is the best way to invest $1,000? If you’re in business for yourself, the answer might seem simple. Investing in the success of your business can deliver greater returns than simply playing the stock market—although business investing is equally risky. That’s because investing in your business isn’t passive income earning like the stock market—succeeding Read more
March 17, 2021
Last Updated: March 17, 2021 Just how big of an expense are taxes? On average, you can be expected to spend 25-35 percent of your salary on taxes each year. That means 3-4 months of each year (or 13 years of your life) goes towards paying off your tax obligation. Unfortunately, as long as you’re Read more
November 18, 2020
How to Measure Your Portfolio Return We wanted to calculate and understand the return on Wealthsimple Portfolio vs. S&P 500 performance. We ran into a few issues first being understanding what exactly different return metrics mean. If you are just as confused, hopefully, this video can give you tools on how to understand your reports, Read more
September 17, 2020
Invest $1000 in Stock Market: 3 Ways If you want to invest $1000, of course after you paid off high-interest debt and have an emergency fund, this video is for you. Overview Invest $1000 Rerequisites Investment Considerations Robot Advisors One Diversified ETF Build Your Own Portfolio Useful Links 💰Get $50 in FREE Trades💰 How to Read more
August 6, 2020
Updated: August 6, 2020 Financial independence is a goal that many of us want to work towards. Wealth creation is one of the factors to becoming financially independent. Many people believe that you need to have a lot of money to create wealth. This isn’t true: you can build wealth with the income you currently Read more
July 18, 2020
If you’re looking for a way to supplement your retirement income, why not consider an individual retirement account (IRA). There are a couple of different types of IRAs: traditional, Roth, SIMPLE, and SEP. A traditional IRA is an account that grants the owner tax advantages when saving for retirement. You may open an IRA at Read more
June 1, 2020
Last Updated: October 28, 2020 Which is worth more: $100 today or $100 a year from now? Does it depend on if you’re paying or receiving the $100? How you answer may be based on your understanding of the time value of money. Let’s explore this concept and figure out how we can use it Read more
May 5, 2020
Pay off Debt vs. Invest: Investor Mindset, Emotions, and Math There is a straightforward mathematical answer to this question, yet it is one of the most commonly debated topics. If you follow Dave Ramsey, he puts great emphasis on paying down the mortgage, but only after that you can start saving 15% and it works Read more
January 14, 2020
The problem with saving money is that spending it is so tempting. There is always an urgent need or want for which you could use that money. It’s so hard to leave it alone in your checking account. So, what can you do? Fortunately, we have access to a number of automatic money saving apps. Read more