One of the most important life lessons you can teach your kids is to develop successful money management habits  and  a sense of financial responsibility. When it comes to teaching your kids about money, the sooner they learn the better. Help your child understand the value of saving money.  Here is where you start showing them the importance and the  benefits of saving money. This can be done with a simple but balanced form of an...

So my last post from yesterday covered the basic fundamentals of what a Traditional IRA was. Today I want to cover Roth IRA and just like last post I want to keep it sweet and simple. So lets get started. A Roth IRA’s main advantage is its tax structure. The contributions made to this account is only from earned income that has already been taxed, therefore it is not tax deductible. The total contribution for all IRA’s are...

So I’m in the process of researching what investment funds to choose from for my first contribution. Since I’ve been reading a lot about IRA accounts I decided to share some useful information that I gathered. The traditional and the Roth IRA, also known as Individual Retirement Account, is a retirement plan account that offers some tax advantages  for retirement savings .They are usually invested in stocks or mutual...

So here is the scenario: Person A is 20 years old and has nothing start off with since he’s fresh out of school. But he has a decent job and he able to invest 100 dollars a week. He does this til the age 60. Starts with $0.00 Invest $100.00 a week ($4,800.00 a year) Interest rate going at 10% 40 years to invest Person B is 40 years old and has waited this long to wait to start saving for his retirement. He has some money saved up...

If you’re living on a tight budget like me, you can’t always put down a grand here or there on your investment plans. Say you’re only making about 20-25 thousand a year and you know you should start investing for the future, whether it’s for your children’s education or for your retirement savings. This is still possible even for people with small income if you invest in small doses. Investing in small doses...

Buying a mutual fund may be the smartest decision you can ever make , however with over 12,000 mutual funds to choose from, it can also be your worst if you don’t know what your doing. If you’re thinking to invest in a mutual fund, then you’re in the right process of thinking, but you have to make sure that you do your research first. There are some things you should know before you get into investing in funds. Things to...