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Unfortunately, if you have any amount of cash whatsoever, most likely you’re losing money without even realizing it…here’s why, and 4 alternatives to prevent this from happening. Enjoy! Add me on Instagram: GPStephan
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Ok, so first things first: Holding cash is bad. Now when I mean “holding cash,” I don’t mean like you’re actually just holding cash…don’t take that term literally. Instead, I’m referring to either keeping a ton of cash laying around under couch or a mattress because you don’t trust banks or something, or maybe you just keep your money in a checking account or regular savings account – which, unfortunately, is what most people do, and that ends up unknowingly costing them money. Don’t do that.
And this is why you should avoid that: INFLATION. This means that the value of your money DECREASES every single year, because…summed up…the country prints more money than there is value. In 99% of situations, when you just keep cash as cash…you lose money. If you keep money in a checking account, you lose money. If you keep cash in a normal savings account earning .1% interest, you lose money. This is bad. And that’s where most people make the mistake of losing money without even realizing it. So with that said, here are 5 options so you can avoid this:
The FIRST place you can put your money is a high interest, FDIC-insured savings account:
Ally Bank: 2.2% Interest on their savings account
Marcus by Goldman Sachs: 2.25% on their savings account
PNC bank: 2.35% on their savings account
CIT Bank: 2.45% interest for accounts that have a balance above $25,000.
SECOND, if you want a SLIGHTLY better return and don’t need the money immediately, your next option is a CD.
Ally Bank 12-month No Penalty CD: 2.3% interest
Capital One 360 12-month CD: 2.7% interest
Marcus By Goldman Sachs 12-month CD: 2.75% interest
Syncrhony Bank 12-month CD: 2.8% interest with $2000 minimum deposit
Third: TREASURY BILLS.
This is basically a short term “loan” you give, and in return for lending them money, they pay you back with interest. The good thing about Treasury Bills, and a HUGE advantage over anything else, is that they’re not subject to local or state level taxes…so for people in high tax states like California or New York, this could save you a TON of money in taxes!
So the way this works is you can go on TreasuryDirect.gov, make an account, and then purchase 4-week treasury bills, which currently pay 2.428% interest annually. You can also set this up to re-invest every 4 weeks, so that way you’re constantly getting a high rate of return – tax free on the state level – without thinking about it.
Fifth Option: buying a bond.
For instance, we have the Vanguard High-Yield Corporate Fund Investor Shares (VWEHX)…this pays a whopping 6.1% right now, which works out to be 5.87% after fees. Now this is NOT a risk free return, the price of the bond COULD go down, the payout of the bond COULD go down…or they could both go UP and you make more money. But for someone willing to take a little more risk with their money, this is a decent way to take a LITTLE risk with some decent upside.
Or, you have the total bond market index VBMFX…after expenses, you’re looking at about a 2.9% annual return. And this one is much less volatile.
Nonetheless, this could be a decent option if you want to take on a little more risk with your money, while still maintaining liquidity in the event you need it immediately.
So there you go…don’t hold on to cash, because if you do, you’re gonna have a bad time and you’re going to lose money with inflation, which is EASILY avoidable if you just put your money in a few of the options I mentioned here. And ALL of these options take you under 10 minutes to setup…it’s really simple, and a great way to PRESERVE your wealth and keep it liquid until you need it for other investments. Like avocado toast.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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Do Individual Bonds Have Expense Ratios, DON’T HOLD CASH: Use THIS Instead.
The Ins And Outs Of Worker Stock Purchase Strategies (Espps)
The working of a heated hair roller is pretty basic. I gathered all the bonds that I wished to evaluate and logged on to the internet. For the sake of contrast, it’s tough to discover a 12-month CD over 1% here.
DON’T HOLD CASH: Use THIS Instead, Get latest videos about Do Individual Bonds Have Expense Ratios.
How To Utilize Worldwide Stock Markets
In general there are significant advantages of a 401k plan to your retirement strategy. In the transaction, you function as the bank, lending your money to investors, cities, and the government.
Getting apprehended can be one of the low points of one’s life. It not just looks excellent on record, however the very experience of being secured in a jail is painful. Being surrounded by others who might have devoted grisly crimes or whose occupation is prohibited doesn’t produce an excellent experience. So, whenever you get apprehended, leaving the secure, as quickly as possible, is the really first thing anybody would think about. People go overboard trying to get out of prison. The primary step that is to be taken to go out lock up is to use for bail. How does that occur? You can get bailed by obtaining a bail bond. A bail bond is a document that excuses you from hanging out in the lockup for a guarantee that he or she will appear in court, in the legal procedures, as when summoned by the court.
Mutual funds and ETF’s are broadly varied swimming pools of investment possessions. The shared fund and ETF supervisors integrate investment dollars to achieve a specified investment objective, such as growth, earnings, or a well balanced approach of both.
Keep in mind that I’m not speaking about Individual Bonds. You get your money back even if the worth goes down when you hold those until maturity. You simply need to be careful about bond shared funds and all the cash that’s gathering in to them. The concern you want to ask yourself is “what’s my exit technique? How will I understand when it’s time to get out of my bond mutual fund?” Now is the time to develop your exit plan.
The initial step is to know what tax rules apply and how taxes on investments are to be computed. Nowadays the web has in depth articles and pointers composed by professionals in the field of investments and Individual Bonds taxations that can be checked out and used as a standard.If you are unpredictable or still anxious then take the help of a certified and deemed tax expert a Certified Public Accountant or tax lawyer. If you are uncertain and puzzled on how tax on financial investment is to be calculated, what you pay in their fees will be far less than the excess tax you will pay.
Financial obligation can be a time or a toolbomb. The Herd tends to puzzle Individual Bonds the purchase of a home with the purchase of financial obligation. To me they are 2 separate balance sheet products.If an investor is going to utilize a big amount of debt to leverage an investment, then he much better make sure that he is purchasing an asset below historic value. Today, The Herd is buying homes that are above the average historical worth, by over leveraging themselves in an extremely uncertain economy.
The typical bond shared fund costs about 3 quarters of one percent per year to own. A bond ETF might just cost.15 percent every year. It may seem a small distinction, however with bond financial investments, similar to financial investments in basic, financiers require to be conscious of expenses. They ultimately interfere with our returns.
EE bonds pay one of the highest rate of interest of any government bond, often remaining ahead of inflation. A weak economy hardly ever impacts these bonds due to the viewed strength of the United States Federal government. When they are paying the highest interest rates, the best time to acquire any bond is. Among the benefits of bonds is that the rates of interest are repaired and ensured.
The account trustee can be a bank or any other monetary firm. An accused person may promise genuine estate in order to publish bail. The typical period of the fund is just 2.9 years and 100% of the bonds are rated AA or higher.
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