Finance

Albert Einstein once said that compound interest is the eighth wonder of the world yet, sadly, many people do not fully understand the power behind it. If they did, they might make smarter financial choices and see their finances improve almost immediately. In this post, I’ll walk you through the basics of compound interest and show you why you need to start taking advantage of its amazing power.

It seems that in order to live the American dream, you need to be super rich or gave a great credit score. Most people have ups and downs with their finances over their lives, however, and this can lead to a less-than-perfect credit score that can be difficult to fix. Many people speculate, though, that the way our credit is scored might be changing in the future so to be able to stay ahead of the credit game, we need to learn what the changes are going to be and how to keep up. Below are a few of the top predictions that most are making and how they can affect most people’s credit scores in their files.

People should be careful when applying the word “fiat” to currency/money. The word is routinely used to mean irredeemable or non-physical, but that’s not what it actually means.

Most people globally don’t really understand some of the central tenants to global monetary policy, nor do they understand some of the key concepts about retirement.

What does it mean to be wealthy to you? For many Americans, it can mean being able to leading a life that is stress free, while having “peace of mind”. Sounds pretty good, right? On the surface, that doesn’t sound too much like money is the focus. However, it could also be said that that same money, or perhaps, a lack of it, can lead to a certain stress factor.

The Financial Independence/Retire Early (FIRE) movement is hot right now. People working toward FIRE are hoping to retire in their 40s and, in some cases, even their 30s and, while the focus of FIRE is to produce financial freedom and not ascribe to a strict definition of the term "retired," it is a tantalizing goal many find worth chasing. However, if not properly planned, early retirement can be more of a burden than freedom. The earlier you retire, the longer your money has to last. Your life mitigation plan also has to be more solid and thorough than those who retire at the standard age. Below are 5 things that could derail your finances if you retire early.

Today's chart looks at financial trends at the household level, such as savings, debt, spending, and income. The result is an interesting picture of how the average U.S. household is changing over time.

If you are disciplined with saving and investing when you are young, you are almost guaranteed to become a stock market millionaire! This article outlines 3 of the 7 steps necessary to help you build your wealth in the stock market.

Becoming a stock market millionaire is much easier than you think because if you take about an hour or two of your time now to create an investment strategy, you are 95% of the way to becoming a stock market millionaire. So what exactly do you need to know to become a stock market millionaire? I’ve outlined all the steps below to help you build your wealth in the stock market.

One of the things that really frosts me is the financial planning industry that insists on using rules of thumb such as the “set and forget” tools - specifically the 4% and 60-40 rules.