Only 40% of Americans are able to cover an unexpected expense of $1000 according to a Bankrate poll. When an unexpected expense occurs, a majority of Americans put it on a credit card or apply for a loan. Nearly three in 10 Americans have no emergency fund. For even those who have an emergency fund, …
Lessons From The The Bamboo Tree If you plant a bamboo tree and nurture it with good soil, water and sunshine, after the first year you will see no visible growth. Nothing in the second year. Nothing in the third year or the fourth year. Then in year five, the bamboo tree grows up to …
The Importance of Long Term Focus In Building Wealth Read More »
Lexus was ranked the most reliable brand in the US according to the J.D. Power 2019 U.S. Vehicle Dependability Study (VDS). Porsche, Toyota, Chevrolet, and Buick rounded out the Top 5. Notably, this is the eighth consecutive year Lexus has stayed at the top of the dependability rankings. J.D Power surveyed 32,952 original owners of …
Lexus, Porsche and Toyota Among The Most Dependable Vehicles in 2019 Read More »
The median price of a new car purchased in the US is around $37,000 and has been creeping up at about a 2% rate every year. A strong economy and job market, and low-interest rates have no doubt contributed to the strong demand. Experts recommend buying a car that costs 1/10th of your gross income. …
Dividend investing is a strategy that gives you a truly passive income. You buy a stock, and if you choose prudently, you can enjoy a passive dividend income stream for decades. Not everyone’s personality is suitable for managing a rental property or dealing with tenants. If you invest in dividend-paying stocks for the long term, …
I always keep an eye on sectors that perform poorly for years. I do that by looking at how the sector performed on a 1-year, 5-year, and 10-year basis. The poorly performing sectors do eventually turn around, though it is hard to say when. Take a look at this chart showing the S&P sector ETFs and …
Every financial adviser has some version of the Latte Factor. It goes like this. If you skip your latte, you save about $4 every day. That’s about $1460 per year. Instead of your usual latte, if you invested that money at 11%, you will have a $1 million dollars in 40 years. There is even …
Most of us have health insurance through our employers. Most companies also offer Flexible Spending Accounts (FSA) that allow you to save money on healthcare expenses. Is an FSA appropriate for you? What is a Flexible Spending Account? You can contribute to an FSA account through deductions from your paycheck. The amount is pre-tax, so …
Should You Sign Up For A Flexible Spending Account? Read More »
Tipping etiquette is confusing and can be awkward when you mess it up. To make it worse, tipping practices are inconsistent and vary across cultures. Tipping also varies based on the quality of service provided. One question most people struggle with is, “Don’t these workers get paid a salary, why should I tip?”. In most …
Everyone runs in financial trouble at some point in time. Whether it’s losing a job or an unexpected illness to a loved one, you are forced to raise cash in a short amount of time. Here are some strategies you can use. 1. Tap into emergency savings Hopefully, you have an emergency fund with 3 …
