By Andres Tovar How did Elon Musk become one of the richest entrepreneurs in the world? He didn’t start just one company, he was involved in several groundbreaking enterprises including PayPal, SpaceX, and Tesla. The same goes for Richard Branson, who has launched over 400 companies, and Oprah, who has founded or acquired substantial stakes…
Gold Regains Its Luster
By Kim Clark From Kiplinger’s Personal Finance The price of gold has plunged and spiked so dramatically in the past year that investors likely feel woozy. Concerns about war in Europe helped push gold to just over $2,000 an ounce in March 2022. Then, rising interest rates eroded gold’s appeal, and prices fell to the…
What Climbing Interest Rates Mean for Annuities?
Careful scrutiny of your retirement plans requires you to factor in annuities to balance your investment portfolio. Annuities remain reliable investment vehicles to generate a guaranteed income post-retirement. Meticulously planned annuities often replicate monthly paychecks that reflect in the form of salary amidst rising interest rates. Where Will I Start With My Annuities? Well, you…
What to Know About Money Funds
June 3, 2023
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By Ella Vincent From Kiplinger’s Personal Finance The run on Silicon Valley Bank and the cascade of bank troubles in March spooked depositors, who withdrew billions of dollars from bank accounts. Much of their money ended up in money market mutual funds. Investments in money funds skyrocketed by about $67 billion during the first three…
All You Need to Know About Living Off Dividends
May 29, 2023
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Preparing for retirement may take more time, money, and effort than you think. It is especially harder to transition this year as inflationary pressures intensify. Although it may benefit savers and lenders, its impact is less desirable than we think. It erodes the value of dollars and, in turn, hurts the purchasing power of consumers….
Freedom of Money—How Will You Spend Your Freedom
May 18, 2023
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How would you love to celebrate your financial freedom when you have finally achieved it? Well, we all dream of cherishing this privilege, but few achieve it. So, your efforts to maintain financial discipline and cultivate healthy saving habits have paid off. What’s next? Of course, you would love to consolidate your wealth as you…
Where’s the Best Place to Park Your Savings?
Besides under the proverbial mattress, knowing where to keep your cash can be challenging. This is especially true with the latest bank failures. Of course, you want your money to earn interest, but you also need it to be safe. And there are numerous choices. When deciding to park your savings, it’s best to examine…
Is My Money Safe? What You Need to Know About Bank Failures
May 1, 2023
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NEW YORK—Recent turmoil in the banking industry may have you worried about your money. Officials announced Monday that they closed San Francisco-based First Republic Bank, making it the third U.S. bank to collapse in the past two months. Most of First Republic’s assets are being acquired by JPMorgan. First Republic had wealthy clients who rarely…
Bank Rates Are Up. How to Avoid Leaving Money on the Table
April 29, 2023
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NEW YORK—Moving your savings around by opening a new account and closing an old one can seem like a hassle. But it’s a use of time that can pay off. After years of paying low rates for savers, banks are finally offering better interest on deposits. Though the increases may seem small, compounding interest adds…
The Banks Are Still in Trouble
The last few days have revealed just how bad the first quarter was for the banking sector. Credit Suisse, which in March collapsed into the arms of its main competitor UBS, recently reported that it had lost $69 billion of customer deposits in the first quarter, bringing the six-month total to an astronomical $225 billion…
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