Finance - page 5

15-year versus 30-year Mortgage

Darryl Bachmeier Jul 24, 2020 Finance

Welcome to adulthood! As you embark on the real world, one of the things you will probably be more excited about is ownership. What is more amazing in having your own place, right? But at around the same time, you realize that you cannot afford it. The reality of mortgage now dawns on you. A mortgage is a type of loan that is repaid in terms. It is commonly used to purchase homes or cars or something that is high priced. Homes are usually paid in 15 or 30-year terms. And today, we will explore the key differences between the two aside from the obvious timeframe of repayment. This is to hopefully help you arrive at the best option that will give you the flexibility and value for investment the most. Is the Longer, the Better? On the surface, we just know that your mortgage plus the interest will be...

Advantages and Drawbacks of Dollar Cost Averaging

Darryl Bachmeier Jul 22, 2020 Finance

Some of you have heard of dollar cost averaging. It sounds interesting and it looks promising. If you are considering using it, keep in mind that first, you need to know all about the pros and cons of this strategy. There is no need to add you need to know what it is as well. Without further ado, let’s begin. What is dollar cost averaging? Dollar cost averaging is an investment strategy that has been with us for a long period of time. It means that you, an investor will invest lower amounts of money on a regular basis into stocks or something with the price that changes regularly. We used the stock exchange as the best and actually the most common example where we can see dollar cost averaging. So you can either invest $10000 at once, or you can invest the same amount but in regular investments of...

Active versus Passive Investing

Darryl Bachmeier Jul 20, 2020 Finance

Financial literacy can help you maximize your income potential. It elevates your goal setting from survival to savings. And one of the core lessons you have to learn is investing. Investing gives your cash more power by beating inflation. It also prepares you for the future – the time when your priorities shift and you want to take a rest from work. In the same way, your investments can help you get through life’s uncertainties like disability, sickness, crisis, or loss of income. Some people can also use the profits from their investments to fund future projects or have something to pass on to their children. Regardless of the purpose, investing is a wise decision today that can help you tomorrow. Though, not everyone’s equipped with knowledge on how to start one. Financial literacy has many confusing aspects since it is dealing with calculated risks and predictions. It takes time...

Cheap Countries to Retire In

Darryl Bachmeier Jul 19, 2020 Finance

Departures are always hard to handle, but the ones which you expect for good are even difficult to handle. What is the fear behind it? It’s an idea to live a smooth, comfortable yet luxurious life while remaining within the assigned budget. It is not easy to live both stylish yet cheap living without having to worry about breaking the set boundaries of a bank account. The article highlights things which need to be considered once looking for a country to live a retired life. First and the foremost thing to be considered in determining the amount of money you have in hand. The money which you have to live within one month and how much saving you intend to make at the end of the month. There are some countries where the cost of living is cheap but these may not be your preferred choices to live after retirement....

Money Jar system - A life saviour for All

Darryl Bachmeier Jul 18, 2020 Finance

Life is a roller coaster and no none knows what comes next. Urgency, pressing requirements, and emergencies keep coming every now and day. No matter what the situation is, the requirement of money is always at the back end. If you are not saving oriented, then such a situation can put enormous pressure on you. On the other hand, if you think you need some guidance on how to save money then you have reached the right spot. The article discusses 6 main points on money jar system, which if adopted can help any person during the dire need of money without having to worry about anything else. Concept behind Money Jar System This system is very effective and easy to be managed by everyone. Same has even worked for several people in different wats. It is simple as dividing your jar into six main categories for fulfilling specific requirements/...

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