House hacking, a term coined by real estate investor Brandon Turner of BiggerPockets, is the strategy of living in one unit of a multi-unit property while renting out the others. This method allows investors to significantly reduce or even eliminate their own housing expenses while generating rental income. But aside from financial savings, what other…
With low-risk investments that generate steady returns, such as certificates of deposit (CDs) and money market accounts, you can begin to build your financial future securely even if you aren’t quite old enough to access other investment options. Taking the time to research investment options and make wise investment decisions now will set up a…
Current retirement products are often created in a way that does not take into account the changing needs of an ageing population. In addition, many retirement products fail to address the growing disparity between workers’ salaries and their savings for retirement. As such, it is increasingly important for retirement product providers to develop innovative solutions…
A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a portion of their paychecks before taxes are taken out. Taxes aren’t paid until the money is withdrawn from the account. Employers may offer to match employee contributions, providing an additional benefit for employees who participate in the…
Types of economic storms? Economic storms can take many forms, from local recessions to global depressions. Common economic challenges include rising unemployment rates, decreasing wages, inflationary pressures and stagnant GDP growth. To “bury” these economic storms effectively requires a comprehensive approach that addresses both short-term and long-term goals. In the short term, governments should focus…
Selling ebooks on Gumroad can be a lucrative and efficient way to reach your audience and earn income. Setting up your account creating your ebook, and promoting your book are the key steps to successfully sell ebooks on Gumroad. Setting up Your Account To get started selling ebooks on Gumroad, you will need to create…
A debit card is a payment card that allows users to access funds from their bank account without the need for cash. It works like an electronic check, deducting money directly from the user’s checking or savings account when making purchases. Debit cards are often issued as part of a comprehensive package of banking services…
Introduction In today’s society, it is easy to fall into the trap of money envy and social comparison. Everywhere we look, people are flaunting their luxurious lifestyles, expensive possessions, and seemingly endless wealth. This constant exposure can lead us to feel inadequate in our own financial situation and cause us to compare ourselves to others….
Developing Good Financial Habits Achieving financial independence requires a combination of discipline, planning, and commitment. It’s not something that happens overnight, but rather a journey that requires consistent effort over time. In this section, we’ll explore some good financial habits to help you maintain financial discipline and achieve your goal of financial independence. Create a…
The answer to this question depends on several factors, including the individual’s current income, lifestyle choices, and savings goals. Generally speaking, financial freedom can be achieved with two or three rental properties. However, if an individual is looking to generate enough passive income to quit their job and live comfortably without relying on other sources…
