Categories
Invest Your Money

Why I Ditched My Target-Date Fund

There are times in life when you’re not going to want to be involved with certain projects. For example, I want nothing to do with home or auto repairs. 

When something I own breaks down, nothing brings me more pleasure than calling a handyperson or a mechanic I know and having them do all the work. 

I don’t want to know how they “make the hamburger” or do the repair. I just want to know it was “cooked well and delicious” when it’s finished.

At one point in my life, I felt the same way about my 401(k). 

But now, I feel differently. 

Here’s why I started taking an active interest in my 401(k), and why I ditched my target-date fund – and you should, too.

Categories
Side Hustles & Earning More

The 10 Most Popular Cash-Paying Jobs of 2020

The 10 Most Popular Cash-Paying Jobs of 2020

Today, I’m going to explore the ten most popular cash-paying jobs in 2020. I have spent hours researching to find exactly what you guys are searching for, and this list is exactly that!

Whether you’re looking for full-time employment or you just want a few ways to make money fast, I’m sure there will be something for you!

I’m going to start with the most popular cash-paying jobs at the top and work my way down.

Categories
Early Retirement

5 Personal Finance Lessons from Short Track Speed Skating

You can learn a lot about personal finance from this Olympic sport

Maybe it’s because I grew up in the sunny southeastern United States, but I’ve always found the winter Olympics to be captivating. Everything feels so exotic and novel to me. But the sport that produces the biggest adrenaline rush, in my opinion, will always be short track speed skating.

This series of events takes place on a small oval-shaped track. The races are very quick: the 500m men’s race finishes in about 40 seconds and includes aggressive attempts to pass competitors.

But the stakes are high. The close quarters and centrifugal force at the turns frequently result in crashes that completely remove skaters from the race — razor-sharp skates awry.

Categories
Invest Your Money

The 6 Best Income-Producing Assets

Do you want to generate passive income? Of course you do!

Well, the best way to make passive income is by investing in income-producing assets.

There are risky ways and safe ways to make passive income. Generally, the more risk you take on, the higher return you can make.

Whether you want to invest $1000 or $20,000, this list will have an option that will work for you.

I will start the list with the highest-earning and riskier income-producing assets and work my way down to the lower-producing and safer income-producing asset classes.

Categories
Early Retirement

401(k): A Complete Guide for Beginners

Time and tide wait for none. What also does not wait is money. The reality of the American dream could hit you hard when you reach your retirement time. As a result, people fall for ignorant retirement mistakes leading to big problems. Especially, when there are bills to pay for a myriad of things, from electricity bills to the medical bills (trust me; no one will be perfectly healthy by that time with the way our lifestyle is going). So, you have to stress not only about your present but also your future. That is where 401(k) comes in.

As the cost of providing pensions have surmounted, the employers are replacing them with the 401(k) Retirement plan. A feasible retirement plan will help you remain monetarily stable and help you continue living your life. After all, little drops make the ocean. How is it different from other old-world investment and pension plans?

An introduction to 401(k):

A 401(k)-retirement plan is a defined-contribution plan. It is a plan in which employees can invest pre-tax dollars, the money before tax is deducted, in the capital markets. Further, the money they have invested gets mature in a tax-deferred way until the time of withdrawal, which is retirement in this case.