You can find a money podcast to help you, whether you are new or an experienced investor. Many great topics are covered by experts in this field. Planet Money, YNAB and Martinis and Your Money just a few. All of these shows are excellent and provide a wealth of information.
Martinis and Your Money
This episode features Lisa Zeiderman from Martinis and Your Money. She talks to Shannon McLay regarding the importance and challenges of financial independence after divorce. This podcast is about financial freedom and personal finance. Subscribe to the podcast with the GetPodcast application
Planet Money
Planet Money podcasts are a great way to learn about economics without spending a lot of time in the classroom. The episodes last twenty minutes and can be listened to while you are getting ready to go, driving to work, or at the gym. Planet Money is a podcast about the economy that goes deeper than traditional TV programs.
YNAB
For those who want to set up a budget, the YNAB money podcast has great advice. Many people struggle with money, and having ADHD can lead to financial problems. This podcast will give you tips on managing your grocery budget. Groceries spending is a growing concern due to rising food prices. This podcast focuses on tips for grocery shopping and how you can avoid making unneeded purchases. This podcast also offers strategies for making fun food purchases.
Jake of All Trades
The Jake of All Trades money podcast is a great place to get financial advice from two financial experts. This podcast features interviews with financial professionals and current trends. It also offers long-term financial planning advice. Kirk and Jake discuss personal finance and retirement, and give first-hand advice to help listeners make smarter financial decisions. The show is currently off air for at least six seasons.
Frankie Cotton
If you are interested in learning more about personal finance, The Money Matters podcast can be a great listening experience. Interviews with Black women in success and invaluable financial advice are part of the podcast. The podcast features financial news as well as advice from successful business owners.
You Need a Budget
You Need a Budget (American multi-platform personal budgeting tool) is based upon the envelope method. It was rated by Lifehacker readers as the best budgeting program in 2013 and was named by Wirecutter as a "great choice for hard-core budgeters". This software is popular among those who are very meticulous about their finances.
FAQ
Should I buy individual stocks, or mutual funds?
The best way to diversify your portfolio is with mutual funds.
But they're not right for everyone.
If you are looking to make quick money, don't invest.
Instead, choose individual stocks.
Individual stocks offer greater control over investments.
Additionally, it is possible to find low-cost online index funds. These allow you to track different markets without paying high fees.
How do you know when it's time to retire?
The first thing you should think about is how old you want to retire.
Is there a specific age you'd like to reach?
Or would it be better to enjoy your life until it ends?
Once you have set a goal date, it is time to determine how much money you will need to live comfortably.
You will then need to calculate how much income is needed to sustain yourself until retirement.
Finally, determine how long you can keep your money afloat.
Do I need to know anything about finance before I start investing?
You don't need special knowledge to make financial decisions.
All you need is common sense.
That said, here are some basic tips that will help you avoid mistakes when you invest your hard-earned cash.
First, be careful with how much you borrow.
Don't put yourself in debt just because someone tells you that you can make it.
Also, try to understand the risks involved in certain investments.
These include taxes and inflation.
Finally, never let emotions cloud your judgment.
Remember that investing doesn't involve gambling. You need discipline and skill to be successful at investing.
You should be fine as long as these guidelines are followed.
Statistics
- 0.25% management fee $0 $500 Free career counseling plus loan discounts with a qualifying deposit Up to 1 year of free management with a qualifying deposit Get a $50 customer bonus when you fund your first taxable Investment Account (nerdwallet.com)
- They charge a small fee for portfolio management, generally around 0.25% of your account balance. (nerdwallet.com)
- Most banks offer CDs at a return of less than 2% per year, which is not even enough to keep up with inflation. (ruleoneinvesting.com)
- Some traders typically risk 2-5% of their capital based on any particular trade. (investopedia.com)
External Links
How To
How to save money properly so you can retire early
Planning for retirement is the process of preparing your finances so that you can live comfortably after you retire. This is when you decide how much money you will have saved by retirement age (usually 65). Also, you should consider how much money you plan to spend in retirement. This includes hobbies, travel, and health care costs.
You don't have to do everything yourself. Many financial experts are available to help you choose the right savings strategy. They'll look at your current situation, goals, and any unique circumstances that may affect your ability to reach those goals.
There are two main types - traditional and Roth. Traditional retirement plans use pre-tax dollars, while Roth plans let you set aside post-tax dollars. It all depends on your preference for higher taxes now, or lower taxes in the future.
Traditional Retirement Plans
You can contribute pretax income to a traditional IRA. You can contribute up to 59 1/2 years if you are younger than 50. If you want to contribute, you can start taking out funds. Once you turn 70 1/2, you can no longer contribute to the account.
A pension is possible for those who have already saved. These pensions vary depending on where you work. Many employers offer matching programs where employees contribute dollar for dollar. Some employers offer defined benefit plans, which guarantee a set amount of monthly payments.
Roth Retirement Plans
Roth IRAs have no taxes. This means that you must pay taxes first before you deposit money. After reaching retirement age, you can withdraw your earnings tax-free. There are however some restrictions. There are some limitations. You can't withdraw money for medical expenses.
A 401(k), another type of retirement plan, is also available. These benefits can often be offered by employers via payroll deductions. Additional benefits, such as employer match programs, are common for employees.
401(k) Plans
Most employers offer 401k plan options. These plans allow you to deposit money into an account controlled by your employer. Your employer will automatically contribute to a percentage of your paycheck.
You can choose how your money gets distributed at retirement. Your money grows over time. Many people decide to withdraw their entire amount at once. Others distribute their balances over the course of their lives.
There are other types of savings accounts
Other types of savings accounts are offered by some companies. At TD Ameritrade, you can open a ShareBuilder Account. This account allows you to invest in stocks, ETFs and mutual funds. Plus, you can earn interest on all balances.
At Ally Bank, you can open a MySavings Account. This account can be used to deposit cash or checks, as well debit cards, credit cards, and debit cards. Then, you can transfer money between different accounts or add money from outside sources.
What next?
Once you have decided which savings plan is best for you, you can start investing. Find a reputable firm to invest your money. Ask family members and friends for their experience with recommended firms. You can also find information on companies by looking at online reviews.
Next, decide how much to save. Next, calculate your net worth. Net worth includes assets like your home, investments, and retirement accounts. It also includes debts such as those owed to creditors.
Divide your net worth by 25 once you have it. This number is the amount of money you will need to save each month in order to reach your goal.
For example, if your total net worth is $100,000 and you want to retire when you're 65, you'll need to save $4,000 annually.