The Rule of 72 is a simple way to estimate how long it will take for your investment to double. Just divide 72 by your annual return rate. Fact! It’s simple math—but the lesson is big: the sooner you start, the more time compounding has to work for you. For example, with a 6% return, your money doubles… Read more
Financial Literacy Month: Fact or Myth? Financial Literacy skills should be taught at a young age.
Financial literacy is a lifelong skill that benefits people of all ages, not just adults. Fact! Kids and teens make financial decisions too. From saving allowance money to understanding the cost of wants vs. needs, early financial habits shape future money management skills. Young adults face major financial choices. College loans, credit cards, and first… Read more
Financial Literacy Month: Fact or Myth? Spreading your investments across different accounts or advisors means you’re automatically diversified.
Fact or Myth? Spreading your investments across different accounts or advisors means you’re automatically diversified. Myth! Simply using different platforms or advisors doesn’t guarantee diversification. Each account or advisor is likely managing a separate portfolio and may be unaware of the others. This can result in overexposure to certain investments, like holding too many stocks… Read more
Financial Literacy Month: Should I Invest or Pay off My Mortgage?
The Investopedia Team Feb. 26, 2025 The best option for a windfall of cash might be to invest it if a realistic rate of return significantly outpaces the interest being paid on the mortgage. However, there are other factors to consider. The pros and cons of paying off a mortgage early depend on the borrower’s… Read more
How Does A 401(k) Plan Work?
Qualified cash or deferred arrangements (CODAs) permitted under Section 401(k) of the Internal Revenue Code, commonly referred to as “401(k) plans,” have become one of the most popular types of employer-sponsored retirement plans. Read More
Advanced Estate Planning for Women
Statistically speaking, women live longer than men; if you’re married, that means that the odds are that you’re going to outlive your husband. That’s significant for a couple of reasons. First, it means that if your husband dies before you, you’ll likely inherit his estate. More importantly, though, it means that to a large extent, you’ll probably have the last word about the final disposition of the assets you’ve accumulated during your marriage. Read More