Everyone needs a budget, but in my experience most online budgeting tools are focused on helping fix poor spending habits--something not every family needs. They’re also overly detailed, providing dozens of spending buckets to allocate each and every dollar.
While a "nickel and dime" approach to budgeting may be necessary for some who have spending habits to change, a lot of families don’t need it.
We could all use some extra cash, but the idea of working more for it isn’t always fun, or even possible. As I’ve handled my own finances over the years and helped others with theirs, I’ve spotted some common ways to find more money--a lot of money actually. I’d love to share with you what I’ve learned.
Much has been said about the value of investing in precious metals, and to many investors, no metal holds more “weight” than gold.
In August of 1971, President Richard Nixon set off a figurative “gold rush” when he ended the gold standard, or the ability to convert paper money directly into gold. The U.S. moved to a fiat currency system. The government now simply prints paper money--which has no literal value--and its citizens rely on it as a trusted source of payment.
But despite our paper money system, the “gold rush” has continued into the present day. Why does gold continue to be an appealing investment, decades after the U.S. gold standard? Is gold really a good investment?
When I started my career in financial advising, I was clearly getting into a fairly complex business. It’s not so much because of the nature of investing and finances in and of themselves, but rather the regulation and rules that dictate what you can or must do, when, and how often.
Few things can be more complicated than taking money from your retirement account. The rules can be very particular and breaking them can be extremely costly.
Following is an explanation of some of the fundamental retirement distribution rules you should be aware of as you think about taking money from your 401(k) or IRA.