Get a Financial Life: Personal Finance In Your Twenties

❁ [EPUB] ✹ Get a Financial Life: Personal Finance In Your Twenties and Thirties By Beth Kobliner ➚ – Elle-kennedy.co Get a Financial Life CRIB NOTES A Cheat Sheet for Time Pressed Readers Who Need Help Now IF YOURE OVERWHELMED by the idea of diving into a whole book on personal finance this chapter is for you It cut❁ [EPUB] ✹ Get a Financial Life: Personal Finance In Your Twenties and Thirties By Beth Kobliner ➚ – Elle-kennedy.co Get a Financial Life CRIB NOTES A Cheat Sheet for Time Pressed Readers Who Need Help Now IF YOURE OVERWHELMED by the idea of diving into a whole book on personal finance this chapter is for you It cut Get a Financial Life: PDF/EPUB ½ Financial Life CRIB NOTES A Cheat Sheet for Time Pressed Readers Who Need Help Now IF YOURE OVERWHELMED by the idea of diving into a whole book on personal finance this chapter is for you It cuts to the chase and sets you on the path to a solid financial life No kidding around Adopting even one or two of these strategies will put you ahead of the game andI promisemake a big difference sooner than you think Of course Get a PDF \ as someones mother once said cheaters only cheat themselves And while this chapter is a good launching pad ignoring the remaining nine chapters is a little like relying on the SparkNotes a Financial Life: Personal Finance Kindle - version of Hamlet Youll get the basic plotline but never understand what all the fuss is about That said the following crib notes will give you the need to know basics Ive tried to list the advice in rough order of importance but your priorities will depend on your own situation of a Financial Life: ePUB ☆ course Insure yourself against financial ruin You need health insurance Period As of this writing the law reuires that you have it Evenimportant Itll help protect you if you have an accident or illness and guarantee that you dont bankrupt yourselfor your familyif you run into any serious medical problems For these reasons health insurance should be considered your number one financial priority If you work for a company that offers its employees health insurance youre lucky participating in a plan at work a Financial Life: Personal Finance Kindle - will almost always cost you much less than buying a policy on your own because your employer pays for part of it Your company may offerthan one type of plan make sure you consider not only the price but also the extent of the coverage Youll want to find out exactly how much youll be expected to pay out of pocket before insurance kicks in this is known as the deductible the rules for seeing specialists and what happens if you want to visit a doctor who doesnt participate in the plan If your job doesnt offer coverage you work for yourself or youre looking for a job youll have to pay for it on your own First see if you can get coverage through a family member Federal rules say you can be covered by your parents insurance until you turn some states will let you stay on even longer If youre married and your spouse is insured through work see about being added to that policy Many companies also cover unmarried domestic partners If all else fails youll need to purchase a policy on your own As of this writing you can comparison shop at Healthcare sites like eHealth or go directly to individual insurance companies For additional tips on the insurance that you needand the kinds you should avoidsee Chapter Pay off your debt the smart way One of the smartest financial moves you can make is to take any savings you have above and beyond money you need for essentials like rent food and health insurance and pay off your high rate loans The reason is simple You usually can earnby paying off a loan than you can by saving and investing Thats because paying off a credit card or high rate loan that has a % interest rate is euivalent to earning % on an investment guaranteedan extremely attractive rate of return If you want a full explanation of this concept click here Otherwise take my word for it The first step in attacking high rate debt is to try to reduce your interest rate Start by simply calling your credit card company and asking for a lower rate Seriously this often works Next see if you can ualify for one of the lower rate cards listed on sites like CreditCards and CardHub and then transfer your remaining balance to it If you have several different types of debtsay a balance on a credit card with a % interest rate another credit card balance with a % rate and a student loan with a % ratepay off the loan with the highest interest rate first One way to make this easier is to ask your federal student loan servicer to stretch out your payments for longer than the standard ten years by switching to a different repayment plan This will reduce your monthly student loan payment leaving you with extra cash which you can use to pay off your credit card balances faster Once youve gotten rid of your % card balance increase the payments on your % balance After you wipe out that one increase your student loan payments to at least their initial levels The only time it doesnt make sense to kill your debt is when the interest rate youre being charged is lower than the rate you can receive on an investment If for example you have a student loan with only a % rate and no other debt youd be better off maintaining your usual payment schedule on the loan and putting your cash into an investment that pays you an after tax rate greater than % assuming you can find it One such place would be a k with matching contributions which is coming up in the next point For detailed information on credit cards auto loans and student loans see Chapter Start contributing to a tax favored retirement savings plan This one might strike you as nuts at first Why would you think about retirement now But heres the reality Saving money in a retirement plan is one of the smartest and easiest things you can do when youre young If youre fortunate enough to work for a company that offers a retirement savings plan like a k you should take advantage of it The big attraction here is that many employers will match a portion of the amount you put into such a plan That means the company contributes a set amountsay cents or a dollarfor ever.

Y dollar you contribute up to a specified percentage of your salary Thats free money euivalent to an immediate % or % return Theres nowhere you can beat this In fact if your company offers such a fabulous matching deal you should probably contribute to the plan even before paying off your high rate debt In addition the federal government allows the money to grow tax free Click here for an explanation of how this saves you evenmoney It may seem crazy to lock up your money in a retirement savings plan Ignore that feeling While its true that you wont be able to withdraw your money from a k until you reach age without facing a penalty the benefits of matching and tax advantaged growth are so huge that this is still the best deal out there If you switch jobs you may be able to move your k money into your new employers plan or transfer it into something called an IRA see below Also most plans allow employees to borrow against their retirement savings in an emergency As of the maximum you can contribute annually is which may bethan you can manage but try to at least contribute the maximum amount for which youre eligible to receive matching funds If you dont work for an employer who offers a k or a similar retirement plan you should start investing in an individual retirement account IRA The most you can contribute to an IRA as of is annually if at all possible contribute the maximum amount every year IRAs dont provide matching contributions so putting money in one is somewhat less pressing than enrolling in a company sponsored plan that offers a match That said certain IRAs known as Roth IRAs do offer one special benefit Theres no penalty for withdrawing the money you contribute to them at any time Youre not allowed to freely withdraw the interest you earned on the money you contributed until after you turn Note that theres also something called a Roth k click here Bottom line Max out your companys k up to the matching limit if you have one If thats not an option go with an IRA For all your uestions on tax favored retirement savings plans see Chapter Build an emergency cushion using an automatic savings plan If you find it nearly impossible to save money youre not alone But once youve gotten rid of your high rate debt taken care of health insurance and started saving for retirement its time to begin stashing away three to six months worth of living expenses Your safest choice is to have money automatically withdrawn from each paycheck and funneled into an old school savings account Thats a relatively painless way to force yourself to accumulate a cushion The downside to all that safety Interest rates on savings accounts are generally low though Internet only banks tend to offer slightly better rates At various times a type of investment called a money market fund aka a money fund which is considered almost as safe as a traditional bank savings account has tended to pay higher interest rates To comparison shop for the best rates on money funds check out iMoneyNet and Cranedata You can set up an automatic transfer from your checking account once or twice a month so its as easy as saving in a bank savings account Foron money market funds see Chapter No matter what type of automatic savings plan you choose focus on your goal of accumulating that emergency cushion To figure out how much you need to save use the worksheet Figure Consider investing in stock and bond funds Once you have your savings cushion in a low risk bank account or money market fund its time to getaggressive with your investments The advantage of stocks and bonds is that theyve tended to earnfor investors over long periods of time yielding higher returns that stay ahead of inflation For a discussion of inflation and why you need to worry about it see Chapter The downside of stocks and bonds is that theyre riskier than savings accounts or money market funds Translation You can lose money by investing in them So for money that you absolutely need to be theresay youve set it aside for a down payment on a home in a couple of yearsdont invest it in stocks or bonds Only you can decide how much risk youre willing to accept but theres an old rule of thumb that you subtract your age from and thats the percentage of your investment money that should be in stocks the rest should be in bonds and money market funds Like any generalization this one has to be tailored to your specific situation but it can be a useful starting point If you do decide to put some of your money in stocks and bonds invest it in funds a type of investment that pools together the money of thousands of people Here are some general rules Avoid investing in funds with a load which is the commission that some companies charge each time you put money into or take money out of a fund They dont perform any better on average than no load funds so theres no point in paying extra for them I also recommend that you consider only funds with low expenses the annual fees charged by the fund that can take a huge bite out of your investment returns if youre not careful Although stock funds are considered somewhat riskier than bond funds see below they have also performed somewhat better over long periods of time If you decide to invest in a stock fund I like low cost stock index funds and exchange traded funds ETFs To find out exactly what these are youll need to read Chapter Two companies that offer a large selection of low cost index funds are Charles Schwab Schwab and Vanguard Vanguard Youll generally need to commit to to open an account if you want to invest in their stock index funds If you dont have a lot of money for about you can start investing in a Vanguard ETF Click here fordetails Holding bonds as well as stocks will help to diversify your investments reducing your overall risk Vanguard also offers low cost bond funds While there are several different types of bond funds a reasonable approach would be to choose a bond index fund that invests in government securities or highly rated corporations To learnabout stocks bonds index funds ETFs.

financial free life ebok personal download finance book your ebok twenties kindle thirties epub Get a ebok Financial Life pdf Financial Life Personal Finance kindle a Financial Life kindle a Financial Life Personal Finance epub Get a Financial Life Personal Finance In Your Twenties and Thirties ePUBY dollar you contribute up to a specified percentage of your salary Thats free money euivalent to an immediate % or % return Theres nowhere you can beat this In fact if your company offers such a fabulous matching deal you should probably contribute to the plan even before paying off your high rate debt In addition the federal government allows the money to grow tax free Click here for an explanation of how this saves you evenmoney It may seem crazy to lock up your money in a retirement savings plan Ignore that feeling While its true that you wont be able to withdraw your money from a k until you reach age without facing a penalty the benefits of matching and tax advantaged growth are so huge that this is still the best deal out there If you switch jobs you may be able to move your k money into your new employers plan or transfer it into something called an IRA see below Also most plans allow employees to borrow against their retirement savings in an emergency As of the maximum you can contribute annually is which may bethan you can manage but try to at least contribute the maximum amount for which youre eligible to receive matching funds If you dont work for an employer who offers a k or a similar retirement plan you should start investing in an individual retirement account IRA The most you can contribute to an IRA as of is annually if at all possible contribute the maximum amount every year IRAs dont provide matching contributions so putting money in one is somewhat less pressing than enrolling in a company sponsored plan that offers a match That said certain IRAs known as Roth IRAs do offer one special benefit Theres no penalty for withdrawing the money you contribute to them at any time Youre not allowed to freely withdraw the interest you earned on the money you contributed until after you turn Note that theres also something called a Roth k click here Bottom line Max out your companys k up to the matching limit if you have one If thats not an option go with an IRA For all your uestions on tax favored retirement savings plans see Chapter Build an emergency cushion using an automatic savings plan If you find it nearly impossible to save money youre not alone But once youve gotten rid of your high rate debt taken care of health insurance and started saving for retirement its time to begin stashing away three to six months worth of living expenses Your safest choice is to have money automatically withdrawn from each paycheck and funneled into an old school savings account Thats a relatively painless way to force yourself to accumulate a cushion The downside to all that safety Interest rates on savings accounts are generally low though Internet only banks tend to offer slightly better rates At various times a type of investment called a money market fund aka a money fund which is considered almost as safe as a traditional bank savings account has tended to pay higher interest rates To comparison shop for the best rates on money funds check out iMoneyNet and Cranedata You can set up an automatic transfer from your checking account once or twice a month so its as easy as saving in a bank savings account Foron money market funds see Chapter No matter what type of automatic savings plan you choose focus on your goal of accumulating that emergency cushion To figure out how much you need to save use the worksheet Figure Consider investing in stock and bond funds Once you have your savings cushion in a low risk bank account or money market fund its time to getaggressive with your investments The advantage of stocks and bonds is that theyve tended to earnfor investors over long periods of time yielding higher returns that stay ahead of inflation For a discussion of inflation and why you need to worry about it see Chapter The downside of stocks and bonds is that theyre riskier than savings accounts or money market funds Translation You can lose money by investing in them So for money that you absolutely need to be theresay youve set it aside for a down payment on a home in a couple of yearsdont invest it in stocks or bonds Only you can decide how much risk youre willing to accept but theres an old rule of thumb that you subtract your age from and thats the percentage of your investment money that should be in stocks the rest should be in bonds and money market funds Like any generalization this one has to be tailored to your specific situation but it can be a useful starting point If you do decide to put some of your money in stocks and bonds invest it in funds a type of investment that pools together the money of thousands of people Here are some general rules Avoid investing in funds with a load which is the commission that some companies charge each time you put money into or take money out of a fund They dont perform any better on average than no load funds so theres no point in paying extra for them I also recommend that you consider only funds with low expenses the annual fees charged by the fund that can take a huge bite out of your investment returns if youre not careful Although stock funds are considered somewhat riskier than bond funds see below they have also performed somewhat better over long periods of time If you decide to invest in a stock fund I like low cost stock index funds and exchange traded funds ETFs To find out exactly what these are youll need to read Chapter Two companies that offer a large selection of low cost index funds are Charles Schwab Schwab and Vanguard Vanguard Youll generally need to commit to to open an account if you want to invest in their stock index funds If you dont have a lot of money for about you can start investing in a Vanguard ETF Click here fordetails Holding bonds as well as stocks will help to diversify your investments reducing your overall risk Vanguard also offers low cost bond funds While there are several different types of bond funds a reasonable approach would be to choose a bond index fund that invests in government securities or highly rated corporations To learnabout stocks bonds index funds ETFs.

Get a Financial Life: Personal Finance In Your Twenties

Get a Financial Life: Personal Finance In Your Twenties Is a Financial Life: PDF/EPUB ½ well known author some of his books are a fascination for readers like in the Get a Financial Life Personal Finance In Your Twenties and Thirties book this is one of the most wanted Beth Kobliner author readers around the world.

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