Hot chocolate bombs sound great, but how about a fat bomb? For those new to this method of eating keto (ketogenic diet), a high-fat, low-carb diet, fat bombs are snacks packed with high-fat ingredients that many keto diet devotees love. The keto diet isn’t here for just 15 minutes of fame. It’s probably been around longer than you think. Eating high-fat and low-carbohydrates was used in the early 1900s to help children control epileptic seizures. Now the diet is used as a popular weight loss regimen. The keto diet for beginners can seem pretty straightforward at first. However, selecting the right healthy foods while staying satiated and meeting the macronutrient allowance does take a little work. So pick up your last cup of regular coffee since you will likely go bulletproof on keto (coffee with either butter or ghee and either MCT or coconut oil). Follow this beginner’s guide to learn more about how the keto diet works, what food to eat on the plan and what to expect when you first begin the keto diet. What Is the Keto Diet?Going keto may require a significant change in your eating habits. What’s distinct about the standard keto diet from other low-carb diets is that the fat consumed makes up 70 to 80% of your daily intake, and protein is a much smaller amount. Usually, the body uses the sugar or glucose from carbohydrates as its primary fuel source. However, if you have consumed minimal carbs, the body then uses stored fat instead for energy and produces ketones. Ketones are chemicals made in the liver and move into the bloodstream, where they are used for fuel by the body’s muscles and other tissue. This process of using stored fat and ketones as the primary fuel source rather than glucose (sugar) from carbs is known as the metabolic state of ketosis. The benefits of being in ketosis are that it helps maintain muscle mass while burning fat, reduces your appetite, and improves blood sugar management. Also, protein intake is moderate on keto because high amounts of protein can convert into glucose. It would then be counter-productive. It would prevent the body from reaching ketosis. Keto Diet VariationsThe standard keto diet is considered the strictest form. There are other variations of the keto diet as well explained below: Targeted keto can only be transitioned to once you have been on the standard keto diet for at least 60 days, so the body has adapted to consuming high amounts of fat. This keto plan allows you to increase your carb consumption and target the time you work out. So you would eat around 20 grams of carbs an hour before a workout and another 20 grams immediately after a workout. You should stay in ketosis since your body uses glucose for fuel. Cyclical keto involves strictly following the standard keto diet for 5 to 6 days of the week and then allowing 1 to 2 days of higher carb consumption. You essentially cycle in and out of ketosis but get to enjoy a more balanced diet on those off days. It’s best to eat healthy carbs on those off days, such as fruits, starchy vegetables, dairy, and whole grains, to stay with the diet and experience weight loss benefits. High-Protein keto is a plan that allows for a much larger protein content than the standard plan but is still at least half the fat content that is allowable on keto. Although the carb consumption is still low, protein converts into glucose, so you may not reach ketosis with ease on this plan. What Do Beginners Eat on the Keto Diet?When on a standard keto diet, according to Harvard School of Health, for a 2000 calorie diet, the breakdown would be about 165 grams of fat, 40 grams of carbohydrates, and 75 grams of protein. To achieve success on this diet, it’s key to understand and consume foods that are considered healthy fats. According to the Dietary Guidelines for Americans (2015-2020 Edition), unsaturated fats have health benefits, whereas saturated fats have health risks. Some examples of unsaturated fats include seafood (like salmon, trout, and tuna), most nuts like walnuts, almonds, and cashew, seeds like flax and pumpkin, avocados, and oils such as olive, canola, peanut, sunflower, and a few others. Which fats should you avoid entirely? Think processed food, higher fat meats like ribs and sausages, higher-fat dairy, some tropical oils like coconut and palm, and almost all foods considered ‘junk’ (cakes, cookies, and some snack foods). Saturated fats are not entirely out. Just stick to meals with vegetables, whole grains, low or fat-free dairy products, and lean meats. How Do You Keep Track of What You Eat?Tracking the macronutrients (carbs, protein, and fat) and daily calories yourself can get complicated and tiring. There are two tools that many keto dieters use to help them keep track of the macros they consume.
Some keto dieters track net carbs, which is the total carbs minus sugar, alcohol, and fiber. Although the food source is a carb, the fiber portion is removed from the carb count because it doesn’t get digested. If you find it annoying to track everything you eat this way, one option is to record just one macro, typically the carb intake. Tracking just the carbs is a component of the Lazy keto plan. The theory is if your carb count is still low enough, you will likely be in ketosis without needing to measure the other macros. Also, with the carb count being so restricted, it will become easier to know what carbs to consume, so eventually, tracking the macros won’t even be necessary. What Is the Easiest Way for Beginners to Start the Keto Diet?Clean Out Your Fridge and PantryIt’s best to remove all processed food and carbs from sight that may sabotage your diet. Better to remove as much temptation as possible, especially when you may have more cravings earlier in the diet. That is unless you are looking to follow the Dirty keto plan. Dirty keto allows you to eat whatever foods you want; whether they are processed or completely unhealthy doesn’t matter, as long as you keep to your macronutrient limits. Create a Weekly Meal PlanThere are a lot of diet tips out there, but the best by far is to prepare. By preparing, I mean creating a meal plan for every day and every meal and snack you need while on the keto diet. Meal prep is the best way to stay on the keto diet long-term. Look at different keto recipes and plan your keto meals for the week. Make your grocery list accordingly with quality fats and permitted vegetables and protein. This way, you know exactly what you can eat when hunger strikes, and you won’t have the temptation to go dirty! Try Intermittent FastingWhile intermittent fasting focuses on timing restrictions of when you can and cannot eat, it has one thing in common with keto. Fasting for even 12 hours helps put the body in ketosis. You can even combine keto and intermittent fasting initially to help reach ketosis faster. But carrying on with two restrictive diets for longer than a few days is not recommended. Challenges When Starting KetoThe Keto FluOne of the reported side effects (but not medically supported) of being on the keto diet is the keto flu. The keto flu consists of symptoms that can appear within the first week of starting the keto diet. Some of these symptoms include headaches, foggy brain, fatigue, nausea, and constipation, to name a few. Although it contains the word ‘flu,’ there are no classic flu-like symptoms. It’s best to drink plenty of water and either ride it out or try to ease into the plan more slowly. Health ConditionsThe keto diet may not be safe for everyone. For instance, people with type 2 diabetes who are generally overweight can see good results. Also, a study in the journal Diabetic Medicine found that type 1 diabetic patients had excellent blood sugar levels. However, anyone with type 1 diabetes should have their doctor closely monitor them to ensure blood sugar levels remain controlled. According to University of Chicago medicine, keto could also cause low blood pressure, kidney stones, and constipation. There can also be an increased risk of heart disease if you consume too many saturated fats. No Cheat DaysIt’s not easy being social when on the keto diet. Typically gatherings with friends and family have a lot of food served which may not be healthy or meet keto requirements. One bad day of eating can kick you out of ketosis, and it can take days of strict eating to get back on track. Furthermore, one study indicated that even just one 75-gram dose of glucose, equal to a bottle of soda or a plate of fries, can lead to damaged blood vessels while on keto. Like any diet, success with the keto plan requires a strong commitment, initial prep work with meal planning, and determination. The keto diet has proven to be a successful method of treating obesity and type 2 diabetes. Research is continuing in this area to determine if keto can help combat other chronic conditions such as type 1 diabetes, cancer, and neurodegenerative disease. So sip your bulletproof coffee, stock up on steaks, and enjoy your smaller waistline. source https://arrestyourdebt.com/keto-diet-for-beginners/ Via https://arrestyourdebt1.tumblr.com/post/675763092253212673
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As a personal finance blogger, I routinely publish reviews of financial platforms and companies that offer services to people struggling with the burden of debt or looking for additional income without a monthly payment. This HomePace review explores a new startup in the home equity investment space and if partnering with HomePace is beneficial for your situation. HomePace Overview – What Is HomePace?Founded in 2020, HomePace was started to unlock one of the biggest asset classes in the world: residential real estate. HomePace enables homeowners to gain financial flexibility and attain their goals by providing them liquidity on a portion of the value of their home without taking on debt and paying interest. HomePace connects investors and homeowners to mutually benefit from the equity in real estate. Homeowners who are looking for additional income and capital without the stress of selling their homes can use the services of HomePace to alleviate their financial concerns. Cashing Out With HomePaceHomeowners who partner with HomePace allow them to be a shareholder in the home. HomePace provides the homeowner with cash and is repaid when the house is eventually sold. Homeowners receive funds to use as they choose, whether for debt repayment, home renovation, retirement, or any other need – all with no monthly payments. In addition, HomePace aligns itself with homeowners and shares in the homeowner’s gains or losses when the homeowner eventually chooses to sell. This allows HomePace to provide homeowners capital without debt in the form of monthly payments. Who Founded HomePace?The HomePace headquarter location is in Park City, Utah, and is managed by three founders. Joe Ciancioli is a founder of HomePace, Inc., which enables consumers to access their equity in their homes without taking on additional debt or interest. Before founding HomePace, Joseph was Head of Business Development for Unison. Joe was previously an Executive at FutureAdvisor, where, as the Head of Sales &: Business Development, he was in charge of creating and leading client acquisition functions at FutureAdvisor. He was responsible for driving the firm’s growth from less than $10M to over $1B in less than three years. Following FutureAdvisor’s acquisition, he led the commercial strategy and distribution of BlackRock’s Digital Wealth platform. Joe began his career at a financial technology company, Thomas Weisel Partners, and also previously led business-development efforts at a financial technology company SecondMarket. Joe graduated from Pennsylvania University with both a B.A. in Economics and an MBA and currently lives in the Raleigh area with his wife, Sarah. Jeboah Joerg is a founder of HomePace. Before founding HomePace, Jeboah was a principal consultant at JDJ Financial Consulting, a partner at TLDR Global, and part of the Converts Trading team at Goldman Sachs. Megan Graf is the third founder of HomePace. She attended the University of California, Berkeley, and obtained a B.S. in Conservation Resource studies, as well as a B.S. in Natural Resources Conservation and Research. Megan started her career with Fisher Investments and climbed the ranks to International Private Client Team Leader. After Fisher, she worked for FutureAdvisor as the Head of Institutional Client Operations before founding HomePace with Jeboah and Joe. She currently serves as the Head of Operations for the company. How A Home Equity Investment WorksHomePace Invests In A HomeThe owner agrees to share a percentage of the gain or loss in their home’s value when they choose to sell. The Client Gets Funds From The InvestmentThey can use the funds to pay off debt, improve their home, or handle other financial needs, with no monthly payments. People often wonder what involvement HomePace has while the client has an open contract. In a nutshell, HomePace does not have any say in how you manage your home. Per their website: “As a silent shareholder, that’s where our involvement stops until the agreement ends. You can use the money however you’d like, and you stay in full control over your home. Our investment doesn’t entitle us to any decision-making.” The Client Later Sells Their HomeThe contract ends at the time of sale, and there are two potential outcomes: 1. Home value increases – both the client and HomePace share in the gain after the sale. 2. Home value decreases – HomePace will share in a portion of the home’s loss at the sale, up to their original investment. What This Means:The amount of money you receive depends on the value of your home and the amount of equity you currently have in it. Home equity investments are giving up equity in exchange for partial ownership of your property. The investment amount is based on the current market value of your property, which is determined by appraisers. Your lender pays off the investment when you sell the property. When you partner with HomePace, you make them a partial shareholder in your property, and they share in the gains or losses of your property. This means they also share in the downside, which equals less risk for the homeowner. If their home decreases in value, they take less of a hit, and HomePace still only receives their percentage, even if it’s less than the amount they originally gave you. What Is Equity Coinvesting?Equity coinvesting is a way for investors to pool money together into a fund that invests in real estate projects. The idea is that if one investor buys a property, then all the others will benefit from the increased value of the property. This means that everyone gets a bigger slice of the pie, leading to higher returns. Equity coinvesting is when two or more parties invest money into a company (or real estate) together. The idea behind equity co-investing is to create a strong relationship between the founders and investors, which leads to better results for both sides. Equity co-investing occurs when someone invests in another person’s business alongside another investor, such as in residential real estate. Investors provide money upfront, and in return, they get a share of ownership in that asset (your house). HomePace invests with you in your home while you still control the home. If your house increases in value, you and HomePace make money, whereas if the home decreases in value, you both lose money. As a homeowner, getting a co-investor on board with you is a great way to get the funds you need to purchase the home, but it also decreases your risk of owning the house since you’ll share the loss with the co-investor if the home depreciates. The lenders (HomePace) are paid back when the home is eventually sold. The Steps We Went Through To Apply For An Equity Investment With HomePaceFor this HomePace review, I went through the process of applying for an equity investment quote. These are the steps and screenshots I followed. What I liked the most about this process was I was able to receive a quote for my home without entering too many personal details. Step 1: Basic InformationThe first section starts with entering the address of the home you are looking to receive a quote for. Step 2: Your IntentionsBefore qualifying you for the program, HomePace wants to know why you want to sell a portion of your home’s equity. The four areas to choose from are:
Step 3: Estimated ValuesThe next step involves entering additional information about your home. Questions that were asked included:
It was pretty obvious that these questions were geared to evaluate whether you would be a good candidate for the HomePace program and if entering into a contract with them would be profitable to HomePace. Step 4: Emailing RequiredThe next step required me to enter my email address to get the quote for the amount of capital I could get for my residence. Step 5: Receiving My QuoteBased on an estimated value of $300,000 for my home and a $100,000 mortgage balance, I may be eligible for up to $51,000 in cash from HomePace. Step 6: Requesting My ProposalI clicked on the option to request a proposal which prompted me to enter additional information about myself. The required data was my name, email address, and phone number. Step 7: More Personal InformationTo request a more formal proposal from HomePace, I was required to enter the following information:
Step 8: Submitting My RequestAfter submitting the details mentioned above, I was given a checklist of my progression through the HomePace process. With the previous steps, I completed the “Proposal requested” section and started the “Initial Proposal” by submitting more personal details. After this, HomePace told me they would start working on my proposal and detailed out the future steps as being:
In addition, the site told me I would be contacted within the next business day about my proposal. The HomePace Equity Coinvesting SystemHomePace, similar to institutional investors, is also considered an investor. They invest funds into residential real estate and buy a portion of the equity in a home. For this purchase, cash is provided to the homeowner, and they are repaid once the home is sold. Because they are a shareholder, they share in any profits or losses in the value of your home. A HomePace co-investment is similar to a loan or debt product because homeowners get cash upfront but different in that homeowners are not expected to make monthly repayments. Instead, the repayment comes out of the sale of the home. Where The Money For Coinvesting Comes FromThe money comes from the investors themselves. A group of people puts up all the capital needed to meet the needs of the investment. If they do not have any money, they borrow the money from friends or family. HomePace receives its money from institutional investors. Those investors typically manage client portfolios and seek new investment strategies to generate returns for their clients. Institutions such as families, investment firms, endowment funds, and pension plans aim to reduce their risk and increase gains through diversification. This is why the HomePace model benefits the investor by making single-family home investments attainable. Is HomePace Available In All Areas?Unfortunately, as a new startup company, HomePace is only currently available in six states within the United States:
Is HomePace The Same As Taking Out Another Mortgage?No, the difference between the two is that a traditional mortgage is a debt, whereas the money from HomePace is an equity investment. A mortgage is structured so you must make monthly payments of both principal and interest. An equity investment involves repayment when the equity (your home) is sold. The equity-based agreement with HomePace’s gives you cash upfront but doesn’t require repayment until you sell in the future. You and HomePace agree to a pre-arranged percentage of the increase or decrease in your home’s value. With HomePace, you can enter into an equity-based contract alongside a traditional mortgage if your home is not paid off. Keep in mind, an outstanding mortgage means you likely will receive less money from HomePace. How HomePace Makes MoneyHomePace charges an initial fee to provide the service of connecting investors to homeowners. Rather than sending homeowners a bill, the initial cost is subtracted from the lump sum amount provided to the homeowner. In addition, HomePace receives management fees from institutional investors due to the service they provide of connecting investors to homeowners. Does HomePace Go On Your Title?Because HomePace becomes a shareholder in your home, they record a deed of trust on your title. This makes them a secondary lien holder until you buy out your contract or eventually sell your home. How HomePace Determines Your EligibilityHomePace evaluates your home in various areas including possible future appreciation, location, overall price, and others. In addition to the standard investment criteria, HomePace also may use inspections and appraisals prior to offering a contract. What Is The Max Amount Of Money You Can Get From HomePace?If your home qualifies, you can receive up to 15% of the current value of your home in investment capital, or $250,000, whichever is less. They will pay you in one lump sum net of their initial fee. The Shareholder Split Between You And HomePaceHomePace does not have a one size fits all split for every situation. Because of various factors, including your credit score and available equity, the exact division varies for each homeowner and contract. Once the equity split is determined, HomePace shares this number and creates a contract. This share split does not change for the life of the contract. Each HomePace co-investment agreement spells out the specific details and share size required to enter into a contract. HomePace will provide you with a lumpsum payment in exchange for partial ownership of your home. HomePace FeesHomePace typically charges a 3% – 4% processing fee. This fee is deducted from the overall lump sum paid to homeowners. In addition to the processing fee, homeowners are responsible for the independent appraisal and/or inspection if required. HomePace does not require an upfront payment in cold hard cash and takes their initial compensation from your overall total. How Long Are HomePace Contracts? Do I Ever Have To Sell?You will sign a 15-year HomePace contract if you agree to their terms. When the 15 years is up, you can either sell your home or purchase back the share of the home from HomePace to close out the contract. However, you may sell your home anytime during the 15 years. What If You Change Your Mind And Want To Get Out Of The Contract?At any time during the 15-year term, you can purchase your share of equity back from HomePace. To do this, HomePace will schedule a third-party appraisal of your house to calculate the value of the share HomePace owns. After this is calculated, you can pay HomePace directly to buy back their share. Can I Live In My Home Longer Than 15 Years?As previously stated, at the end of the 15-year contract, you can either buy out HomePace by purchasing their share of your equity, or you can renegotiate with HomePace for a second contract on your home. The Pros And Cons Of HomePaceIn this section, we detail the top benefits and negatives of partnering with HomePace. Pros Of HomePace:
Cons Of HomePace:
HomePace Contact Information
HomePace Review: Our ThoughtsGoing through the HomePace lending process was simple, and we were impressed with the simplicity of the onboarding website. While we didn’t go through the entire process and sign a contract, the steps leading up to the funding were seamless. Overall, HomePace is a decent option for people who need immediate cash without monthly debt obligations found in the typical home equity loan. We also like that it is not a reverse mortgage, so you still keep a substantial amount of the proceeds when you sell your home. However, suppose your house substantially increases in value after entering into a contract with HomePace. In that case, they will receive a larger portion of the profits than they would have received if the home value remained relatively stable. The home’s increased value would mean you are repaying HomePace at a higher amount than you may with a traditional equity loan. The other negative we see is if you have trouble managing your finances, a quick infusion of cash in exchange for partial ownership of your home may not be the best option. Without financial goals and a budget in place, you are bound to blow through this upfront cash and be back in the same financial trouble you were before. In the end, for those who want access to immediate funds but want to avoid monthly mortgage payments, turning your equity into money by making HomePace a partial shareholder in your home may be a good idea. source https://arrestyourdebt.com/homepace-review/ Via https://arrestyourdebt1.tumblr.com/post/675755519985762304 Whether you are a new or experienced investor, you have likely heard of the popular broker service called Robinhood. However, despite being immensely popular, there are plenty of reasons to consider Robinhood alternatives for your investment needs. In this article, we will take a close look at each of these alternatives. Before jumping in headfirst, though, we should turn our attention to Robinhood and its shortcomings. Robinhood: An OverviewAfter launching a remarkably easy-to-use investment app in 2015, Robinhood quickly grew into one of the most prominent stock trading services available. The platform’s simple, beginner-friendly approach to stocks included commission-free trades, which was uncommon at the time. The company has grown its services since 2015 to include ETFs, options, cryptocurrencies, and savings accounts. In addition, Robinhood has appealed to first-time investors by offering free stock and bonuses to new users. Why Robinhood Might Not Be Right For YouWith all of the advantages listed above, why would anyone want to miss out on Robinhood? For starters, because the company is geared towards beginner retail investors, more advanced traders will likely be disappointed by the lack of key features. Research and analytic tools, for example, are notably missing, as are diverse account types such as tax-advantaged retirement and custodial accounts. In addition, Robinhood lacks popular investment choices such as mutual funds, foreign stocks, and bonds. For these reasons, Robinhood may not be a good choice for you. Even if you are only looking to ease your way into stock trading, you may quickly outgrow this platform’s offerings. There are a few more reasons to avoid Robinhood, however. What’s Wrong With RobinhoodThe problems with Robinhood do not stop with the lack of features, however. Unfortunately, there are a host of other issues that make the platform problematic. To begin with, the real-time quotes provided by the app on individual stocks are usually inaccurate. With delays of 10-15 minutes, traders will not be able to make decisions as accurately as possible with truly up-to-date, live quotes. In addition, Robinhood has been known to suffer outages at inopportune times, such as periods of high volatility where more people than usual are using the service. This happened several times in March of 2020. On three historic days for the DOW in terms of price movements, customers were unable to access their accounts. Another major problem for Robinhood is its cryptocurrency offerings. Unlike other similar services, Robinhood does not allow crypto buyers to transfer their currencies to secure wallets. Furthermore, the company does not even provide you with the private keys for the digital assets you purchase on their platform. Effectively, this means that those who buy cryptocurrency on Robinhood do not have true ownership of their investment, and this is a significant issue. Recent Robinhood IssuesRecently, Robinhood has drawn widespread criticism for manipulating markets by restricting transactions of certain stocks. For example, in January of 2021, the company would not allow customers to purchase shares of Gamestop (GME), AMC Entertainment Holdings (AMC), and several other stocks. Robinhood faced class-action lawsuits over this, with claimants asserting that Robinhood restricted trading to protect their investment partners. Robinhood states that they restricted the markets to protect their users from volatility, but customers did not appreciate being limited in their purchasing ability, especially without warning. In November of 2021, Robinhood had a large security breach in which hackers accessed personal information for more than 5 million customers. Further, the value of Robinhood’s stock has been decreasing steadily throughout 2021. This highlights the widespread hesitancy amongst investors to purchase shares of the company. While not necessarily a reflection of Robinhood’s future, the stock price at least indicates widespread concern about the broker. The 23 Best Alternatives To RobinhoodGiven the issues with Robinhood, it is wise to look at other options in the investing world. In this article, we will be taking a look at 23 online brokerages that can be used instead of Robinhood. If you are investing with Robinhood and looking to move your stocks to a different platform, be aware that Robinhood charges a $75 fee to transfer your holdings. However, many brokers will cover this charge or reimburse you for that amount, so be sure to do your research before moving your funds. With that said, let’s dive straight into the list of Robinhood alternatives. 1. Interactive BrokersInteractive Brokers has provided quality investment services to customers for more than three decades. While this platform offers cryptocurrencies, bonds, and options trades like Robinhood, they set themselves apart from their competitors by offering international stocks and futures trading. In addition, the unique SmartRouting system that Interactive Brokers has tended to attract active traders who need their orders to be executed efficiently and cost-effectively. Some less-experienced traders may find Interactive Brokers’ in-depth analysis tools challenging to use at first. However, their potential to help users invest wisely makes them worth the learning curve. New users should also know that while there is no minimum investment required to open your account, you have 90 days to make your first deposit. In addition, while many trades come without commission fees, Interactive Brokers uses a complex fee system on various transactions, so be sure to read the fine print. 2. M1 FinanceM1 Finance excels for investors who enjoy long-term investing or prefer a more hands-off approach. With an array of smart tools available to automate investments, users can let the platform do much of the work for them. One of the most popular features of the M1 trading account is the pie-chart investment system. When setting up your investment account, you will have the opportunity to build diversified portfolios. Simply select the holdings you would like to invest in regularly and choose a percentage amount for each. Then, when you deposit money into the app, M1 will invest the specified percent of your cash into each fund in your portfolio. M1 does not charge fees for transactions. With smooth IOS and Android mobile applications, M1 makes it simple to contribute to your accounts on the go. Some less-experienced traders may be intimidated by the high level of customization options for investment. Other newer investors will love the opportunity to automate their purchases through the same customization. In any case, M1 is an excellent Robinhood alternative. They also offer custodial and IRA accounts. 3. PublicPublic is unique in that it doubles as a social media platform for traders and a brokerage. This combination allows you to see what others are investing in while making your own decisions about stocks. There are no account minimums and no transaction fees. In addition, current and previous Robinhood users will enjoy the UI experience of Public, which is very similar to Robinhood. Like Robinhood, users can purchase single stocks (fractional shares are available) and conduct ETF trades. Public offers a savings account as well to help you meet your financial goals. While fewer analysis tools are available compared to some other brokerages, Public is an excellent choice for new and casual investors. 4. BettermentBetterment has been an innovative, trailblazing company responsible for leading the charge in Robo-financial advising and consultations without management fees. Their platform is excellent for investors who prefer a more hands-off approach. When setting up a new account (with no minimum opening deposit), users can select financial goals to work towards in a specified time frame. These goals include retirement, safety net, and general investing. Then, when you deposit money into your account, Betterment will allocate your funds into investments that best suit your goals and adjust them as markets fluctuate. Betterment allows customers to link other financial accounts to provide more comprehensive financial analysis. Robinhood users might be surprised to note that Betterment does not support individual stock transactions. They do, however, offer checking accounts and a high-yield savings account. 5. Ally InvestAlly Invest is part of Ally Bank, a comprehensive financial product and service company. The advantage of this is that Ally Invest Users have easy access to their other preexisting accounts through Ally or can easily open new ones. This kind of broad integration of financial services is highly beneficial. Ally offers CDs, auto loans, high yield savings accounts, checking accounts, and more. The tools available on Ally Invest separate their service from Robinhood. With in-depth graphs and a profitability forecast tool, users will be able to make more informed purchasing and selling decisions. The financial news and analysis offerings by Ally Invest also help with this. Trades are commission-free on most transactions, with a small fee on options trading. One downside of Ally Invest is that they do not support cryptocurrencies as of January 2022. In addition, the easy-to-use mobile app does not have a wide variety of tools that are available on the web application. However, Ally Invest does offer mutual funds, which more than makes up for these minor limitations. 6. MoomooMoomoo is one of the newer brokerage services on this list, having started in 2018. So far, however, the company has proven to be reliable, fast, and a viable Robinhood competitor. Moomoo offers many of the same features as Robinhood, such as stock and ETF transactions without fees and no minimum sign-up deposit. However, the broker truly excels in offering FOREX trading (Foreign Exchange Markets), drawing tools in graphs, and community forums. Moomoo also provides extended trading hours that appeal to after-hours traders. The only option for customer service in January 2022 is email, which some users may find frustrating. Moomoo also does not support crypto transactions. But, overall, the company has done an excellent job creating a service that can go toe-to-toe with Robinhood’s functionality and features. 7. FirstradeFirstrade offers a broad range of investment options, from CDs and bonds to mutual funds and ETFs. The best part? Firstrade has some of the lowest fees in the industry on its platform. Like Robinhood, this broker also offers free stock to new customers. In addition, Firstrade separates itself by allowing users outside of the United States, the United Kingdom, and Australia to open an account and trade. Firstrade has an intuitive, easy-to-use mobile app. The company also demonstrates a commitment to educating new and experienced traders by offering webinars and other resources. Although they do not support cryptocurrencies on their platform as of January 2022, they only offer taxable accounts without options, such as the popular Roth IRA. 8. SoFi Active InvestingSoFi is a full-service financial investment platform that offers partial shares and sign-up promotions, similar to Robinhood. They also offer various banking options, loans, credit cards, and budget management assistance. Impressively, the company provides analysis on their loan’s margin rates. This empowers their customers to make wise borrowing decisions. Unfortunately, as of 2022, these services are only available in the United States. The SoFi Active Investing mobile app is simple to use. Some users may find that the broker sacrifices certain in-depth research and analytic tools for this simplicity. However, meeting virtually with a financial advisor for free makes up for this deficiency. In addition, cryptocurrency traders may dislike the 1.25% fee taken from each crypto purchase. Robinhood, by comparison, provides commission-free crypto trading. 9. TD AmeritradeTD Ameritrade has tools to suit beginner and advanced traders with a mobile app, robust web application, and data-driven day trading software called Thinkorswim. One advantage of this broker is their wealth of free resources. Users can access videos, articles, courses, and events to learn more about investment strategies, accounts, and even specific stocks. This educational factor separates TD Ameritrade from Robinhood. Trades are commission-free. Ameritrade does not offer fractional shares, which may dissuade some investors. The broker does, however, have exceptional customer support. Helpful employees are available to assist customers 24/7 via text, email, and telephone. One of the unique features of TD Ameritrade is its PaperMoney investing simulator. New accounts are credited with $100,000 in virtual money. Investors can try out their investment ideas risk-free with this money before spending real cash. This is especially helpful for new traders. 10. StockpileStockpile is unique in that it focuses on teaching young investors about the stock market. The broker goes as far as to allow users to purchase gift cards for their friends and loved ones. These cards can be bought for specific stocks or loaded with a dollar amount and applied to any stocks desired. Customers appreciate the ability to introduce young people to trading with these cards. Stockpile has limited functionality for more serious traders. For example, they do not offer fractional shares, options, or IRA accounts. In addition, while the broker’s educational resources are solid, more advanced research tools are lacking. Also, Stockpile does not execute trades in real-time. Instead, they conduct all transactions at one time each day. For this reason, the company’s services are best suited to give gifts to young people and engage buy-and-hold investors. 11. VanguardLike several other options on this list, Vanguard is one of the largest brokerage platforms available. They offer a variety of trading, savings, and retirement accounts to fit every investor’s needs. This includes CDs and bonds. In addition, Vanguard excels in its mutual and index fund offerings, focusing on long-term investors. Users can purchase any of their 3,300+ funds without commission fees. Be sure to do your research, though: many funds offered by Vanguard have investment minimum deposits ranging from $1,000 to $3,000. One downside to Vanguard is that they do not offer fractional shares: if you want to buy a stock, be prepared to purchase at least one full share before pulling the trigger. Another thing to keep in mind is that the research tools are limited. They are, however, each free to use for all account types. 12. StashStash presents itself as a user-friendly trading platform accessible to beginner investors. The exchange offers innovative, pre-built portfolios made up of stocks designed to fit a broad range of needs (both long-term and short-term). In addition, users enjoy Stash’s Robo-advising service. This feature provides valuable insight to help newer investors make wise financial decisions and better understand their allocations. One thing to be aware of for traders considering this service is the associated fees. Stash has three different subscription plans charged monthly from $1 to $9. The Basic plan grants customers access to trading services. A $3 option gives customers the option to open tax-advantaged retirement accounts through Stash, such as an IRA. Finally, the $9 plan is built for families, providing two custodial accounts and a free debit card. Traders considering Stash should ensure that they choose the best plan to suit their needs. 13. eToroeToro is similar to Public in that there is a prominent social element to the broker’s services. After creating an account, eToro users have the option to copy the trades of popular investors who also use the platform and track their successes. In addition, the company provides a unique analysis tool to inform traders about the risk tolerance on certain portfolios. eToro offers more than 35 cryptocurrencies as well. eToro, like TD Ameritrade, offers new users 100k in virtual funds to experiment with investment strategies. The educational tools associated with this feature are well-developed, and the mobile app is intuitive to use as well. One downside for this broker is their customer service. If you need help with your account, you will need to open a claim online and wait for an associate’s assistance. There is no option to speak with someone over the phone. 14. Charles SchwabCharles Schwab has a long track record of providing safe, reliable financial services. In 2021, they had an enormous $7.5 trillion of assets under management. They offer commission-free transactions fractional shares in the S&P 500 (minimum of $5) and are known for transparent business practices. In addition, if you prefer for others to manage your investments for you, Charles Schwab offers automated investment tools that allow expert investors to manage your portfolio. Charles Schwab even offers certified advisors and consultants across the United States that can meet with clients in person. These agents can help you set up your account, manage your investment, and track long-term goals. Various fees apply to these services. For newer investors, the broad range of investment options may be intimidating. In addition, the mobile app and web application can take some time to get used to. Overall, however, the breadth of services offered by Charles Schwab makes up for these minor issues. 15. AcornsAcorns is one of the most unique investment services on this list, offering a fully automated experience. By linking your bank card to your investment account, Acorns will round up your purchases to the nearest dollar and invest that change into various funds. These funds are managed to diversify and stabilize your holdings. Of course, users are free to deposit funds into Acorns at any time. There is a small monthly fee ($3-$5) depending on the plan you choose. Retirement and checking accounts are also available (one account even offers a metal debit card). When setting up a new account, users will have the opportunity to choose from several pre-built portfolios to invest in. In addition, Acorns offers automatic rebalancing to keep up with market fluctuations. As of 2022, there are two membership plans. The first is a basic package for individuals, which costs $3 per month. The $5 option is for a family plan which allows users to set up custodial accounts. One unique feature that Acorns offers is a job-hunting service. The company partners with ZipRecruiter to post job openings, internships, and other opportunities to earn money. While investors are limited in the types of investments they can conduct, these unique services set Acorns apart from Robinhood. 16. TradeStationTradeStation appeals to new and advanced traders with advanced analysis tools and commission-free trading. The platform offers stocks, options, futures, ETFs, and cryptocurrencies. In addition, these investments can be managed with one of the best mobile apps in the industry. The app features dynamic charts and graphs along with the web application. TradeStation pulls away from Robinhood in terms of order execution: While Robinhood users often experience a delay in their transactions, TradeStation boasts lightning-fast order routing to complete orders for day traders as soon as possible. There are many TradeStation subscription plans. Be sure to research all of these before signing up. In addition, retirement investors may be discouraged that the platform does not offer any transaction-free mutual funds. TradeStation issues a $50 fee to accounts that fail to meet certain balance minimums or activity levels. There is an annual $35 account fee that users should also be aware of. 17. E*TRADEWith over 7 million investors, E*TRADE has proven itself as one of the most reliable online brokers. One way that this platform sets itself apart from Robinhood is that users can access foreign exchange markets. In addition, E*TRADE offers more investment options like CDs and ETFs and provides financial advisors to help you manage your goals. Unfortunately, E*TRADE does not support fractional share purchases. This may disappoint many prospective users who prefer to invest smaller amounts of cash. On the bright side, though, E*TRADE allows business owners to set up investment accounts for their businesses. This is a unique feature that is not available on many broker platforms. 18. WebullWith one of the better stellar mobile trading apps on the market, Webull’s trading experience is smooth and enjoyable. After emerging in the market in 2017, the broker gained popularity quickly as a Robinhood alternative. A prominent feature of Webull is the ability to trade before the markets open and after they close. In addition, as of January 2022, Webull introduced fractional share trading on their platform, with a $5 minimum. Like Robinhood, this broker allows users to purchase popular cryptocurrencies. The company offers more robust sign-up benefits than Robinhood as an added bonus. New users have the opportunity to earn between 2-4 free stocks after signing up. However, investors who were disappointed when Robinhood restricted purchases on stocks such as Gamestop (GME) in 2020 may share the same disappointment with Webull. Webull has also blocked transactions for particular stocks in the past and joined Robinhood in prohibiting GME trading. 19. TradierTradier is built for advanced traders who have plenty of experience with investing and are comfortable with self-directed trading. While Charles Schwab has acquired Tradier, they are still operating as an independent entity as of January 2022. Tradier offers bonds, stocks, mutual funds, ETFs, and more. Monthly fees apply to various account types: the most basic (and common) account comes with a $10 monthly charge, while the most advanced will set you back $85. While not offering futures, users can trade options with Tradier’s service. Unfortunately, unlike Robinhood and many other brokers, this exchange does not offer any signup bonuses for new users. However, Robinhood users who are disappointed with that platform’s limited research function will likely enjoy access to the thinkorswim trading platform and many third-party analytic tools. 20. FidelityFidelity has a stellar long-term track record for providing reliable services. Like Robinhood, users can purchase partial stock shares commission-free. The research tools are excellent, with in-depth performance archives and graphs. Fidelity also offers savings and retirement account offerings. In addition, advanced technology allows Fidelity to analyze your financial goals, compare them to your current investments, and provide valuable information about maintaining your funds. This company is an excellent choice for investors who enjoy purchasing mutual funds and hedge funds. While some users will find the mobile app difficult to get used to, the customer service and variety of high-quality investment options more than makeup for it. Best Places To Trade CryptoCurrency:The first 20 platforms on this list focus on standard trading traditional assets like stocks, bonds, and mutual funds. However, many investors who are interested in Robinhood are drawn to the service’s cryptocurrency capabilities. This is because of the easy-to-use user interface and commission-free trades. There are, however, several issues with trading cryptos on Robinhood. Primarily, users do not technically own their investments since Robinhood does not provide the currency’s keys along with the purchase. These keys allow investors to move their investments from Robinhood to private wallets. Customers can still benefit from their crypto gains without this ability but do not have complete control over their investments. In addition to the issue mentioned above, only seven coins are available on Robinhood as of 2022. While these include the most popular cryptos, they do not allow users to trade newer or less common coins. With these issues in mind, other platforms may better serve investors. Here are three broker options that specialize in crypto: 1. Crypto.comCrypto.com allows traders to purchase a wide range of crypto coins in the United States (100+). A unique feature is that it offers debit cards linked to your Crypto.com holdings. With five different Visa cards offering varied reward schedules based on how much capital you invest, you can earn cryptocurrency back on your purchases. Rewards are credited to your account in the form of CRO (Crypto.com Coin). Trading fees also vary based on how much CRO they own. New account holders can expect a fee of .04% (for market makers) or .1% (for takers). Traders who use more Many users have trouble with the mobile trading app. While it is fully functional, new Crypto.com customers might face a learning curve with the application. 2. GeminiFounded in 2015, Gemini is unique among cryptocurrency brokers in that the company embraces financial regulations. This serves to give customers peace of mind that other less compliant services cannot offer. With over 50 coins to choose from in 2022, retail investors enjoy instant trades on Gemini’s servers. More advanced traders can access the Active Trader platform, allowing customers to access top-notch analytic tools and place varying order types. The downside to Gemini is the fee schedule. Each transaction is assessed a .5% flat fee in addition to a minimum 1.49% commission for most orders. New users who trade more than $100 in Bitcoin during their first month using Gemini will receive $20 of free Bitcoin. 3. CoinbaseCoinbase is one of the more popular options for crypto trading. Not only is the platform available in more than 100 countries around the world, but they offer certain coins that are difficult to find on other services. The mobile app, in particular, is a massive mark in the “pro” category for Coinbase. The UI is enjoyable to use and straightforward. For more advanced traders, the company offers Coinbase Pro. This service focuses less on providing a smooth user experience and more on providing dynamic analysis and research tools. A major pro of using Coinbase Pro is that its fee structure will save users more money than the vanilla Coinbase platform. Both are free to use. One negative of Coinbase is the customer service. Customers often report slow response times and inadequate solutions to their issues. Overall, however, the company offers reliable service and features. Frequently Asked QuestionsAs you can see, there are many viable alternatives to Robinhood. Whether you are a seasoned trader or just beginning your investing journey, there are entries on this list to fit a broad range of needs. If you still have questions about a specific broker on this list, you can find detailed information on each company’s website. In the meantime, here are a few answers to general questions that you may have: Who are the most direct competitors to Robinhood?Robinhood’s most popular features are its approachable app, commission-free trading, and cryptocurrency offerings. One of the most direct competitors to Robinhood in all three of these areas is Webull. Users that are primarily interested in the crypto element of Robinhood will be tempted by the smooth design of Coinbase’s platform as well. Those who prefer a traditional stock trading experience with a simple mobile experience will enjoy Public. Companies such as Fidelity and Charles Schwab constitute worthy Robinhood competitors for investors looking to grow and expand their investments. Are Odyssey and Robinhood similar?Odyssey and Robinhood are very different entities. Robinhood is an online broker service. They allow customers to purchase stocks, options, ETFs, and cryptocurrencies on their platform. Odyssey is not a full-service brokerage like Robinhood but a blockchain program that offers its own tokens (OCN). Odyssey coins are part of the Ethereum (ETH) network. The program aims to promote decentralized peer-to-peer currency for sharing economies like Uber, Lyft, and Airbnb. OCN is not available for purchase on Robinhood as of January 2022. What is a Robinhood alternative for users in Germany?Although Robinhood unveiled plans to expand their service to Germany, they postponed those plans indefinitely due to the COVID-19 pandemic. Despite this delay, however, other brokers are available to traders in Germany. For example, interactive Brokers support both European and German-specific stock market trading. They also make getting American depository receipts a smooth and straightforward process. eToro is another brokerage that supports German traders. As a bonus, the eToro app is simple and easy to use, just like the Robinhood application. What are some excellent Robinhood alternatives for Canadians?Canadian residents may be frustrated that they are unable to use Robinhood for their trading needs. Fortunately, there are viable options that are available in Canada. Interactive Brokers offers low trading fees and features Canadian markets. Fidelity also offers a full range of services for people who live north of the United States border. Gemini allows Canadian customers to buy, sell, and trade coins for people primarily interested in digital trading currencies. source https://arrestyourdebt.com/robinhood-alternatives/ Via https://arrestyourdebt1.tumblr.com/post/675676302496448512 The world of advertising is incredibly competitive. Thousands of companies use advertising to boost brand awareness and entice potential customers to make a purchase. Gone are the days of purchasing a slot on one of a handful of television or radio stations or buying a page in a magazine or newspaper. Today’s master advertisers aim to go viral online and start trends among the public. It takes strategic planning and a whole helping of luck to make that happen in what is a saturated market. Creating an ad campaign is not a simple task by any stretch of the imagination. The ad represents your company and its products. The tone of voice must be perfect for your brand. Video adverts online and on television usually only last 30-60 seconds, which is not a long time to grab the viewer’s attention, market your product, and make it memorable. Get it right, and you can sit back and watch the orders fly in. However, should it go pearshaped, you are left with a tarnished reputation that is difficult to rectify. Finding The Right Tone And Targeting Your Ideal CustomerThen there are the rules of various watchdogs worldwide, agencies put in place to protect the consumer. For example, car manufacturers are no longer permitted to sell their vehicles based purely on speed and power. Likewise, some country’s rules prevent the biggest online betting firms from using representatives under the age of 25, nor can they promote gambling as a way of making money. Of course, different jurisdictions have their own rules and regulations that companies must follow, or they run the risk of severe financial penalties. All these things combined make for a potential minefield when it comes to running an ad campaign. There are almost unlimited options when it comes to your ad’s content. Some companies go for class and sophistication; others go down the humor route. Of course, the old adage of sex sells remains true even in today’s modern, digital world. Defining your target audience is key to any successful advertising campaign; most marketers agree this is the most crucial stage of creating any campaign. Who is your ideal customer? What you are selling is not going to be appealing to every demographic. For example, it makes little in the way of sense to try selling Breitling watches to the 18-25 age group because very few will splurge several thousand dollars on a timepiece. The same is true for targeting 40-to 50-year-old professionals with a small hatchback car. Advertisements That Everyone RemembersThe very best adverts stick in a consumer’s mind long after they have finished airing on their screens or the turning of a few magazine pages. Sweden’s Absolut Vodka was the master of this. The company’s U.S. importer, Carillon Importers, enlisted the services of TBWA Worldwide for Absolut’s first advertising campaign back in the early 1980s. A simple picture of the Absolut bottle with a halo over the cap above the slogan “Absolut Perfection” started an epic campaign spanning more than 25-years and producing more than 1,500 separate advertisements, with each following in a similar vein. Absolut ads resulted in the firm’s bottle becoming the most recognizable bottle on the planet despite there being nothing stand-out about it. The company had a market share of only 2.5% when the ad campaign began but was selling 4.5 million cases annually by the time it ended. The campaign resulted in the American Marketing Association inducting Absolut in its Hall of Fame in 1992. These adverts show your product does not have to be exciting because you can build a story around it. What would your answer be if we asked you what three words your mind’s eye conjures up when you think of the Nike brand? Just do it would be the answer of almost every person on the planet. Nike created the “Just do it” ad in the 1980s when it took on Reebok in the freshly emerging fitness market. Nike initially targeted marathon runners, but Reebok was selling many more shoes than Nike, so something had to change. The Just do it slogan is a short but hugely effective tagline that encompasses everything people wanting to get fit think about. Nike got into the minds of their target audience and came up with a slogan that still works 40 years later. Adverts Are Not Only For Selling Products And ServicesAlthough the prime reasons for advertising are promoting brand awareness and eliciting sales, brands can use advertisements for other purposes. For example, companies use them to thank customers, apologize to them, or even promote a different cause entirely. KFC suffered logistical problems in the United Kingdom in February 2018, issues that ultimately saw many of its restaurants run out of chicken. That is correct; a company that sells chicken had no chicken to sell! Instead of burying its head in the sand until the chicken was in free stock again, KFC created a standalone print ad apologizing for the situation. It featured an empty bargain bucket where the KFC logo was altered to read FCK. The ad then explained the issues it faced along with a timescale they would be fixed, in addition to an apology. It was a light-hearted way to try to bounce back from negative press. Supermarket giant Tesco hit the headlines in the marketing world by creating a print ad during the COVID-19 pandemic. The British government placed tight restrictions on the public visiting pubs and even forced their closures at one stage. This was great news for Tesco, and its rivals as customers flocked to stores and purchased alcoholic beverages. When the pubs reopened, Tesco pulled an ace from its sleeve and published print adverts thanking customers for taking advantage of its 3-for-2 and other alcohol promotions, but now was the time to support pubs because they needed customers. It finished with Tesco’s famous “Every little helps” slogan. It was a genius move because it advertised its own offers by stealth. It drew attention to its products while looking like the good guy by requesting customers support the British pub business. The ads were shared far and wide and reached a much wider audience than they could have dreamed. Sometimes, all that is required to create a great ad is to think outside the box a little. source https://arrestyourdebt.com/what-makes-a-great-advertising-campaign/ Via https://arrestyourdebt1.tumblr.com/post/675664978891702272 How often have you looked back and realized how much easier life would be if you had inherited money, a.k.a. generational wealth? What if you started life with enough money to pay your way through medical school or earn that prestigious MBA without carrying any of the crushing student debt? Or, perhaps you are someone who is in a position to fulfill your life dreams because of adequate family financial support. Regardless of your current financial wellness situation, it is likely that you already have an implicit understanding of the importance of familial wealth. Generational wealth building is an approach to financial management that secures personal, long-term prosperity, but that of your successive generations as well. As wealth has become increasingly concentrated over the past decade, the challenges to generational wealth-building have grown exponentially complex, especially for black families. Most wage earners in the US, across the spectrum, focus on managing their own finances while making enough to provide for the basic needs of their children. Finding the right strategy early in life is the key component to finding the correct path to generational wealth. If you are starting a family, or growing an existing one, now is a fantastic time to learn about the several proven approaches to building long-standing familial wealth. What Is Generational Wealth?Generational wealth suggests intergenerational transfers of capital that begin with one wealth-originating family. Those resources then pass from one generation to another. To fully grasp the concept of generational wealth, comprehending what “wealth” means is imperative. Wealth indicates an abundance of capital, material prosperity, and access to plentiful resources. With that in mind, the many thriving professionals who, by all outward appearances, seem to be living the American Dream are plentiful. But, assuming they financed their way through graduate school and their real estate assets mortgaged with bank debt, it is safe to say their success is not attributable to family money. And because so many accomplished professionals are paying off their college education and other costly debt, they simply cannot save. Subsequently, middle-class workers find attaining the high levels of wealth that benefit future generations to be out of reach, even as those workers represent the top ten percent of all earners. The typical family benefiting from generational wealth is doing so because it follows an established set of wealth-building and management principles. In addition to this, they care enough to preserve their considerable earnings while they accumulate savings specifically to benefit subsequent generations. Families that originate abundant wealth always come from humble beginnings. They commit a series of sacrifices to build up considerable savings to ensure their children do not repeat the cycle of poverty. Generational wealth starts taking shape after one family utilizes a cash inheritance or life insurance policy to invest in income-producing assets such as a family business or rental property. The success of long-standing family wealth depends upon a set of shared values. These values span across generations and remain tied to principles aimed at enhancing the prosperity of their children. This type of planning always entails a degree of personal financial sacrifice over always having the finest things money can buy. Similarly, protecting assets through secure trust instruments to ensure large sums of capital will not be spent frivolously or on a whim is no less important than sustaining multi-generational wealth. Why Is Generational Wealth Important?While increasingly fleeting, the American Dream is generally achievable for those who pursue the proper educational channels and work hard. However, those who benefit from familial wealth are at a considerable advantage over the average well-educated professional carrying debt. The rising cost of tuition and record inflation make saving money difficult, even for medium to high wage earners. Absent the resources provided by familial wealth, even the most career-minded people continue to find themselves burdened with an endless stream of debt, taking years to pay off. Moreover, as time progress, acquiring new capital is more challenging. Because paying off student loans and high-interest consumer debt takes so long, creating substantial wealth later in life might be entirely improbable. Conversely, those with access to an abundance of familial financial resources don’t carry consumer debt. Instead, these people use excess funds to invest in the stock market or build a new family business. Of course, if you’re single, personal financial wellness is always a priority. But if you plan on having a family, those priorities change. If you want to provide financial security and a comfortable lifestyle to your children, wealth-building strategies are the key, even if they are long-term in nature. Challenges Of Building Generational WealthWhile building generational wealth is a goal that many income earners aspire to, it requires earmarked discipline. Even with that, success is not easy to achieve. Generating significant capital that leads to lasting wealth is not as simple as working hard and passing down a set of assets accumulated over a lifetime. Statistics show that more than two-thirds of generational wealth never make it past the second generation. And by the third generation, 90 percent of familial wealth is completely dried up. So the primary challenge to originating lasting assets is understanding how to get started early in life and how to protect your money thereafter. Most earners lack both the informational and material resources to start building wealth that survives more than a generation. This is primarily because such levels of wealth are uncommon, and when they do exist, they rarely last. Eight Ways To Build Generational WealthIt’s hard to imagine a parent that doesn’t want to help their children avoid the same financial struggles they had growing up. But finding the right strategy to achieve this is never easy. Establishing wealth that lasts requires more than significant capital. Here are the 8 best and most proven approaches to building generational wealth: 1. Invest In Your Child’s EducationInvesting in your family’s education, particularly early education, is crucial to sustaining wealth. Raising financially educated, independent adults is the only path to securing a legacy that lasts more than a generation. If you don’t educate your family about personal finance through open conversations about wealth and money, there should be no expectation that the wealth you pass on to your kids will ever last. Allow your kids to talk about family money in the home and ask questions. You can start as early as age seven with basic concepts such as needs vs. wants and the value of saving and creating value within the community. With time, you can start introducing more advanced personal finance concepts by helping them discover new tools. Historically, the education system performs poorly at educating students on practical financial literacy and finance topics if they don’t avoid them altogether. This means the task of equipping financially responsible adults falls upon you, the parent. But you might still be in the process of figuring your own finances out. So remain open with your children about both your financial wins and losses. You want them to benefit from learning both your financial success and failures. 2. Invest Your MoneyMarket investing is a time-proven approach to growing your wealth without putting in the extra work associated with managing income-producing real estate or a small family business. And while accumulating money in a bank is better than not saving at all, unfortunately, it won’t do much for generating significant wealth. Inflation is now a serious problem, and the value of the dollar has decreased nearly 7% year-over-year. Even without a high inflationary environment, dollar deflation is entirely assured, especially after a considerable duration. Bank savings that might have been substantial during your lifetime will be significantly less once you pass it on to your children. Investing your hard-earned savings entails risk. But it is also the approach to guaranteeing your family receives a maximal inheritance. However, we’ll get into the minutia of a few of these later. The following list represents the top investment options available:
3. Invest In The Stock MarketAs mentioned above, there several dependable investment opportunities to choose from. However, investing in the stock market over the long term is the most proven approach to building a large source of wealth that doesn’t require the amount of work necessitated by managing real property or a small business. The key to succeeding in the stock market is working with a financial advisor to develop a diversified portfolio and long-term plan that consistently earns you money over time. The S&P 500 tracks the stock of the 500 largest companies in the US. Stock investments in organizations have produced more than a 10% average return since the S&P 500 started recording these data in 1926. As a result, stocks are a fantastic way to protect against inflation and provide long-term wealth-building opportunities with little effort at relatively low fees. 4. Invest In Real EstateInvesting in real estate can be profoundly beneficial to establishing long-term wealth. However, this strategy is not without its challenges. While most investment property assets appreciate over time, positive cash flow from rental income provides the most opportunity for investors. Real estate investing can be off-putting to some because of the hands-on requirements. However, you can always start small by moving out of your primary residence so you can rent it out and purchase another property. This is how most small investors begin building a more extensive portfolio. Investing in commercial real estate can be competitive. The profitability of buildings over five units is subject to their capital appreciation rates. Commercial buildings in desirable areas with high cap rates rarely come on to the market and are hard to encounter. Before investing in any commercial dwelling, you should conduct a property market analysis with a credible finance professional experienced in this kind of real estate. 5. Create A Business To Pass DownNot everyone has the financial knowledge or an entrepreneurial disposition. But if you have any inkling to strike out on your own at all, you should, at a minimum, consider starting a side business. The majority of the world’s wealth is attributable to small family-owned businesses, and they contribute to almost 60 percent of the US gross domestic product (GDP). Startups aren’t without risk, however. Over 80 percent of them fail. So creating a new business, especially one that requires a hefty upfront investment, is something to weigh carefully. Nevertheless, if your business takes off, it becomes a financial legacy that can span for generations. Alternately, a business is an income-producing asset that’s salable -the proceeds can be reinvested in a more profitable enterprise. 6. Take Advantage Of Life InsuranceLife insurance is another proven method of passing down considerable wealth. The right life insurance policy, not unlike stock market investments, entails little work and should be incorporated into every estate plan. Assuming your children are dependent upon your income, the financial circumstances can be dramatic in the event of your premature passing. Term life insurance is among the more affordable options to help assure your dependents remain financially secure after you’re no longer able to support them. The loss of a close family member is difficult enough. The financial strains associated with an unexpected passing only compound the stress and grief. Presuming your objective is to keep your family financially secure well into the future, securing an adequate insurance policy is one of the best ways to go about it. 7. Custodial AccountsCustodial accounts reflect any type of investment account held specifically in a child’s name but managed by another adult, acting as a fiduciary. These types of investments are great wealth-preserving tools. In addition, they go a long way in assuring that your nest egg is maximized for subsequent generations. They’re not dissimilar to trusts since custodial accounts represent one of the most common generational-transfer financial vehicles. Both tools allow parents, grandparents, and guardians to maintain complete control of the invested funds. The upside to a custodial account is that they are often much cheaper to create than a trust. The main caveat to custodial accounts is that, unlike a trust, your child must necessarily take over the financial account upon becoming a legal adult. If you’re dealing with a considerable amount of money, it may not be in your child’s best interest to inherit this kind of windfall at such a young age. You can open a custodial account at most banks, credit unions, brokerages, and financial service providers. You can open these accounts online or in person at a traditional brick-and-mortar institution. The banks establish the terms, initial investment requirements, minimum balances, rates, and service fees. 8. Set Up A TrustAs stigmatized as they are in popular culture, trust funds remain one of the most powerful financial planning resources available. Setting up a trust fund is the most practical approach to protecting generational wealth because it allows for the most control over how it is passed on. Any assets held within a trust avoid probate and some estate taxes. Estate planning with trusts protects your wealth against legal fees and costly transfer taxes liabilities that impact the balance of your inheritance considerably. Do note that custodial accounts differ from guardian accounts which often include adults who are unable to manage their own finances on account of physical or mental disabilities. Trust and Will is one of the top online options for building a will. Check Out Trust And Will Here Generational Wealth Transfers After DeathIdeally, you want to start with a wealth transfer conversation early with your kids so that they understand what they’re likely to inherit. Then, you should consult with an expert financial advisor to ensure your wealth passes on to your heirs in a tax-efficient manner. Establishing a quality trust is the most effective means of guaranteeing that your wealth remains in your direct bloodline and doesn’t transfer outside of the family. The situation can be heartbreaking for your intended heirs when your wealth transfers outside the family. You have spent a lifetime leveraging your talents to generate influential wealth. You want to ensure it goes to the people you love most. That’s why it’s crucial to maintain a sound plan concerning how and where you want your wealth transferred after death. Ensure all parties are clear and comprehend the intentions established in the inheritance process. Again, the best approach is early discussions about family money and what your beneficiaries should expect. This way, your children can start establishing their own long-term financial goals. Tax Consequences And Strategies For Transferring WealthTax-efficient intergenerational wealth transfer requires proactive planning. It’s not unlike your wealth-building strategy on the whole -the sooner you get started, the more likely you are to succeed. But, again, the key to achieving your goals here is keeping open discussions with your heirs. You know you can’t take your wealth with you, so you want to ensure as much of it as possible goes where you intend it to after you’re gone. Technically, there are only three places where your wealth could land after you pass: your loved ones, charity (non-family members), and, of course, taxes. If you believe you are subject to a high estate tax, it’s essential to engage in proactive planning to ensure as much heritable wealth as possible is transferred to your children. Several strategies exist that can reduce high estate taxation. For example, you can take advantage of annual gift tax exclusions, start making direct payments for qualified medical care and education expenses, or convert traditional IRA assets to Roth IRAs. Similarly, irrevocable grant trusts and custodial accounts also help reduce high estate taxation rates. Needless to say, these steps account for only part of the battle. To avoid losing generational wealth, as 70 percent of the population will, you should always maintain open and honest talks about the wealth transfer process with your family. Start establishing long-term financial goals as a unit early on, and be sure that every family member is clear on their roles. Generational Wealth And The Wealth GapAccording to NPR, “Non-college-educated and Black Millennials are still lagging way behind their white counterparts. About 80% of Black millennials with at least a bachelor’s degree still have student loan debt, compared with about half of white millennials.” Much has been said about the millennial generation over the last decade. However, by 2016 the average millennial household claimed only $28,000 in net worth, placing them 40% of median wealth figures for previous generations. With that in mind, while most financial analysts anticipate a significant transfer of wealth, it may not be enough to prevent millennials on the whole from being substantially poorer than their Baby Boomer and Gen X predecessors. A lack of a college degree, a long-standing racial wealth gap, and other economic factors put Black millennials in an even tougher position. Lower earnings, furthermore, correlate with a high credit card debt and a low credit score. In the absence of financial security, they’re less likely to have an emergency fund. All of this tends to snowball into more enhanced gaps in wealth. Generational Wealth Transfers During LifeRemember that not all generational wealth transfers happen after death. Indeed, there can be immense tax savings in wealth transfers that occur during your lifetime. Wealth transfers that occur while you and your children are still alive are called “inter vivos.” These types of gifts are less common but still account for a noteworthy fraction of them. Funding college or providing direct payments toward a high-quality education for your heirs is among the most popular types of inter vivos gifts. It ensures your heirs will graduate from college without student loans and can begin enhancing their wealth early in life without being burdened by student debt. Generational Wealth And Racial InequalityThe persistent white and black wealth gap has always been real, but the impact of COVID-19 pandemic restrictions was devastating to black workers and black business owners across the country. Preexisting wealth disparities between white families and households run by black Americans have been on the radar for some time. But the black community proved to be considerably more vulnerable after the economic recession triggered by COVID-19. Generational wealth undoubtedly played a role in determining how well a family absorbed the economic shock brought about by the recession. With wealth defined as the difference between household assets and debt, even highly educated and top-earning black professionals were at substantial risk. This emphasizes how generational wealth is because it often accounts for the critical safety net that allows a family to weather severe economic downturns that have been occurring more frequently. ConclusionAs you might’ve learned, generational wealth implies quite a bit more than having enough to cover a financial emergency or sound retirement planning. When it comes to building a lasting family estate, proper planning and education remain the two key factors that determine how long your wealth will last after you’re gone. The impact of generational wealth transfer can be significant. Be sure to seek qualified advice from an advisor experienced in estate planning. source https://arrestyourdebt.com/build-generational-wealth/ Via https://arrestyourdebt1.tumblr.com/post/675638514968330240 The cost of furnishing any space depends on where you source the furniture. Finding the best cheap furniture stores will substantially reduce the cost of furnishing your house or apartment. But how do you know where to find the best cheap furniture stores? You can find cheap furniture with:
It’s all about knowing where to look to get the best deal on furniture prices. The chances of finding a dining set from Pottery Barn under $300 are slim to none. But what about at a store like Overstock? Let’s talk about some other cheap furniture stores (that won’t skimp you on quality either). 11 Best Cheap Furniture Stores With Good Quality for a Low PriceMost people go for more expensive furniture because they think cheap furniture has low quality. They think that if they spend $1,000 on a sofa, it will last longer with a couple of dogs and cats versus a $300 sofa from Costco. Wrong. It’s more than possible to get good quality furniture that will withstand a couple of accidents without forking over 4 figures for it. You just have to know where to look. 1. OverstockOverstock is listed first on this list and for good reason. Not only do they have featured sales that go on daily but they also have their Club O rewards program that you can utilize to potentially take more money off your purchase down the line. They sell indoor and outdoor patio furniture (as well as decor) including:
Pricing: Dining sets start at $79 and mattresses start at $74 Shipping: Shipping is free with their rewards program or when you spend over $45 2. Rooms To Go OutletRooms To Go Outlet is quickly climbing the ranks and ships across the United States. In addition to their shipping structure, they are also quickly expanding and adding more locations across the US to their physical store numbers. They have great deals on cheap furniture to match any budget. They specialize in:
Pricing: Reclining sofas range from $347 to dressers, chests, and media chests, priced at $275. Shipping: Rooms To Go is currently offering free shipping when you order online. 3. IKEAWho hasn’t heard of IKEA? They’ve gone from being a tiny Swedish business founded in 1943 to one of the most well-known furniture brands in the entire world. You can find everything from furniture and decor to cookware, lighting, and even gardening at their stores or their website. IKEA has TONS of categories of products, that’s for sure. Mostly, we are interested in furniture and they offer affordable options in the following categories (not limited to these though):
Pricing: Sofas start at $149 and bed frames start at $45 Shipping: Shipping depends on your location or you can opt to pick up your order at a nearby store for free 4. Weekends OnlyWeekends Only is exactly what the name sounds like. They are only open on the weekends from Friday to Sunday to keep their costs low so they can keep their prices low. The only downside is their stores are located in St. Louis, MO, and Indianapolis, IN and they only ship to the surrounding zip codes. You will find the following furniture categories on their website:
Pricing: Dining room sets start at $149 and desks start at $118 Shipping: Your delivery fee will depend on the total price of your order or you can opt for free in-store pickup 5. Big LotsBig Lots may not have the variety of furniture available as the rest of the furniture stores on this list, but their deals are worth a second look. Big Lots has such great deals that it is one of the number 1 spots for those who do retail arbitrage to buy items from to resell on eBay and Amazon. Thanks to Big Lots low prices it keeps their costs low. They can make a pretty good profit that many people even do this for a full-time job Anyway, back to the furniture. You can find the following items at Big Lots!:
Pricing: Dining room sets start at $149 and desks start at $118 Shipping: Your delivery fee will depend on the total price of your order or you can opt for free in-store pickup 6. TargetAre you the type of person who can’t make it through Target without blowing all your money? If you are on the lookout for cheap furniture options, going to the store might not fly. Order online instead. Target has furniture in a variety of categories including:
Pricing: Sofas start at $130 and dining sets start at $160 Shipping: If you have a Red Card and spend over $35, Target offers free standard shipping. Order over $35 without a Red Card will have a $5.99 shipping fee 7. WalmartWalmart has absolutely everything, including furniture. You can opt to have your furniture delivered to you with next-day delivery, standard shipping, or opt for curbside pickup – where there are no shipping fees and they do the shopping for you. Shop popular furniture brands like The Queer Eye Collection and Drew Barrymore Flower Home at a low price. A few furniture categories you can find in the store or online:
Pricing: Bed frames start at $39 and dressers start at $78 Shipping: Shipping is free for orders over $35 8. AmazonAmazon has everything under the sun when it comes to ordering online with some of the best shipping deals. If you become an Amazon Prime member, you can easily get free 2-day shipping on your furniture orders. Not all furniture product listings have a prime shipping option though so make sure to look at that and the shipping price for any that don’t have that option. You can find the following furniture categories on Amazon:
Pricing: Sofas start at $179 and desks start at $58 Shipping: Shipping is free for Prime members and varies for those who are not or listings that don’t have the prime option 9. HomegoodsHomegoods is a part of a line of stores that include TJ Maxx, Marshalls, and more. Their line of stores is known for having quality items for budget prices, especially Homegoods. They are so well known that they have a sort of cult following due to it being similar to browsing a flea market but in a nicer environment. The one thing with Homegoods is that you can’t shop their items online. You must go to the store to shop but they do have an option to deliver your items for you after shopping. They also have an app that shoppers will post their greatest finds. You can follow nearby stores and use it to know when to go to the store to snag a deal. Different furniture categories to browse are:
Pricing: Pricing varies per item at each Homegoods store Shipping: Shipping is not free and varies using their service called dolly 10. Urban OutfittersUrban Outfitters doesn’t have as large a variety of furniture available as most of the other stores listed but they do offer more unique picks for a bargain. If you are looking for a more light and airy feeling like something out of a magazine but for a fraction of that sort of price tag then Urban Outfitters will work for you. Some of their home and furniture items include:
Pricing: Desks start at $199 and headboards start at $99. Shipping: Shipping is free for items over $50. 11. CostcoCostco has everything from TVs to wine, jewelry, peanut butter, and clothes. They also have furniture with affordable price tags but still on the higher end of this list. Some of the categories you will find online and in the store are:
Pricing: Mattresses start at $300 and chairs start at $119 Shipping: Shipping is free but you can check if you will have any fees by entering your zip code when in your cart How To Compare Prices Between StoresIf you are looking at a few of these stores but are getting bogged down in the details with what to go with, try an online price comparison tool. Google Shopping has a price comparison tool that you can use when looking at a similar set of items across most of the stores above. It only works for stores that sell their items online so it won’t show anything from Homegoods. You can also use this same tool to search for products, save them for later, and track their prices. Conclusion: Get Your Interior Decorator OnNow that you have an idea of where to continue your search for the perfect items for your humble abode, it’s time to get creative. Run wild with it. And keep being crafty with both the way you decorate and how you source those items. If you can, try using a cashback app or credit card for your furniture purchases and save even more money down the line. If the store has its own rewards program that is free to join, join it. Those savings add up. The more savings, the better. source https://arrestyourdebt.com/cheap-furniture-stores/ Via https://arrestyourdebt1.tumblr.com/post/675570556763078656 If you’ve followed recent financial news, you will attest to the increasing popularity of cryptocurrencies. Crypto coins have become a hot investment, with cryptocurrencies, such as Bitcoin surpassing $2 trillion. Like any other investment, the sudden increase in value of these digital currencies has greatly enriched early investors, increasing the demand for cryptocurrency investments. However, with over 11,000 types of cryptocurrencies available on the market, investing in digital technologies might be more lucrative than trying to predict which token will increase in value. Cryptocurrencies or Crypto Stocks: Which Is a Better Investment?Investing in crypto stocks or assets is risky, but potentially very profitable. Investing in cryptocurrencies is prudent if you want direct exposure to these digital currencies. However, buying stocks of companies exposed to cryptocurrencies is a safer but less lucrative option. Cryptocurrency RisksInvesting in cryptocurrencies directly is risky due to the volatility of these coins. Unlike stock exchanges, cryptocurrency exchanges are very vulnerable to hacks and other cyber security threats. These breaches have previously led to significant losses by investors, which makes storing cryptocurrencies safely more difficult than stocks. While cryptocurrency exchanges make it easy to trade cryptocurrencies, most people don’t like keeping their digital currencies on exchange platforms due to risks such as cyberattacks. Some crypto owners prefer using offline or cold storage options, such as paper wallets or hardware. Unfortunately, these storage options also come with several challenges. For instance, you can easily forget or lose your private key, making it impossible to access your cryptocurrencies. There is also no guarantee that your preferred crypto coins will succeed. There is stiff competition among various Blockchain projects, reducing the number of cryptocurrencies that flourish. What Should You Invest In?Despite these drawbacks, the Blockchain industry continues to grow stronger. The much-required financial infrastructure is being developed, and interested investors can access professional-grade services. Crypto traders have also received tools required to safeguard their assets. Giants in the financial sector such as PayPal and Square have made it easier to trade cryptocurrencies on their platforms. Other reputable companies have invested millions of dollars in cryptocurrencies, with Tesla recently making a $1.5 billion Bitcoin purchase. Despite the risky nature of cryptocurrency, increased adoption is a sign that the industry is maturing. Buying some cryptocurrencies can increase your investment portfolio. However, if buying individual currencies seems risky, you should find other ways of profiting from cryptocurrencies. The best way is buying stocks of companies, such as Square, PayPal, Coinbase, or CME Group, which ease crypto trading. While buying stocks in these companies is profitable, they don’t have the same profitability as trading cryptocurrencies directly. 6 Top Crypto Stocks To Invest InBuying stocks in companies that invest in crypto assets is a safer way of gaining exposure to cryptocurrencies. Below are the top stocks that have created waves in the crypto market. 1. Coinbase GlobalCoinbase Global is currently the leading crypto trading exchange that made its IPO debut in 2021. The company is a good choice for purchasing popular cryptocurrencies, including Bitcoin, Ethereum, Cardano, and other altcoins. Users of the platform can trade up to 50 cryptocurrencies. The continuous increase in crypto prices is the main influencer of this platforms’ success. With millions of new users opening accounts in the platform, Coinbase earns profits by charging users a transaction fee every time they buy or sell crypto coins. However, the company also offers debit cards, which allow users to spend directly from their digital wallets. 2. Square and PayPal HoldingsCentral intermediaries are at the center of most digital payments. Due to this, PayPal and Square decided to expand their money transfer business by enabling users to purchase and store cryptocurrencies in their digital wallets. Cash App, owned by Square, started facilitating Bitcoin trading in 2017. As of 2020, Bitcoin was among the leading revenue generators for the company. Square recently introduced Square Ecosystem, which aims at making the company the leading platform for cryptocurrency transactions between customers and companies. This is very promising as it replaces the hefty foreign transaction fees banks charge. Currently, Cash App, despite being a crypto trading platform, has all the basic banking features. On the other hand, through Venmo’s digital wallet, PayPal introduced peer-to-peer app payments, which included cryptocurrencies in 2021. During the launch, the platform supported trading of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin. Venmo is a convenient access point for buying major crypto coins and trading them for other altcoins or other decentralized currencies. 3. Nvidia and AMDWhile Nvidia (chipmakers) and AMD do not handle cryptocurrencies directly, these two companies are the best designers of GPUs (Graphics Processing Units). Initially, GPUs from these companies were mainly used in powering video games that required high-end graphics. Currently, they are also used to power computing-intensive systems, such as artificial intelligence, data centers, and crypto mining. Blockchain and crypto mining requires robust computational power, which can best be provided by GPUs. Initially, the surging cryptocurrency prices led to an increase in Nvidia’s and AMD’s stock prices as crypto miners rushed to purchase GPUs that could handle these tasks. To date, GPUs are important in creating and maintaining cryptocurrencies. 4. Facebook and ShopifyThe popular social platform, Facebook, has been developing a Cryptocurrency called Diem. According to Facebook, Diem will facilitate global payments and provide financial infrastructure to everyone, including those without bank accounts. However, the project experienced serious setbacks, especially after Visa, MasterCard, and PayPal, withdrew their support. Several government agencies also expressed uncertainty, claiming that Diem is largely unregulated. Nonetheless, developers are still working on the project, with Facebook claiming renewed efforts to meet the Cryptocurrency’s development goals. Shopify, a popular eCommerce software provider, started allowing merchants using the platform to accept Cryptocurrency payments. Shopify recently deepened this ability by adopting CoinPayments, a crypto payments processor, into the platform. 5. TeslaTesla, a space and electric car company, is another company that has made significant investments in Cryptocurrency. The company recently invested an estimated $1.5 billion to purchase digital assets. That aside, the company started accepting Bitcoin payments from those who buy their electric cars in 2021. Tesla currently owns over 42000 Bitcoins with an estimated value of $2 billion. It also periodically trades Bitcoins for profits. 6. MicroStrategy, Inc.MicroStrategy Inc. is an intelligence and analytics company that designs, develops, and markets various business software platforms. The company creates tools that help their customers optimize their business intelligence for better marketing results. Most clients of MicroStrategy Inc. are in the technology, insurance, manufacturing, telecommunication, and consulting sectors. All these companies are among the key industries of the future, which is why investing in MicroStrategy makes sense. Recently, the company purchased more than $100,000 Bitcoins valued at over $3 billion. As a result, purchasing stocks from MicroStrategy is indirectly investing in crypto. EndnoteBlockchain and cryptocurrencies are bound to play a major role in the future of finance, technology, health, and many other industries. However, investing in cryptocurrencies directly isn’t prudent due to the volatile nature and insecurities associated with these digital assets. As suggested by Wall St Now, investing in companies that benefit directly from Blockchain and cryptocurrency growth and won’t depreciate even if these cryptocurrencies fail is a wiser decision. Apart from the companies mentioned above, you can also buy stocks from Canaan and Hut 8 Mining, RobinHood Markets, and CME Group companies. source https://arrestyourdebt.com/cryptocurrency-stocks-to-buy/ Via https://arrestyourdebt1.tumblr.com/post/675570555123089409 Most of us recognize the value of life insurance. After all, protecting the ones you love is human nature. A life insurance policy can ensure that your family’s financial needs are met and fulfill some of their plans like continuing education or retirement, even when you no longer can be there for them. So, what is a life insurance premium? It’s simply the cost of your life insurance policy which is typically paid on a monthly or annual basis. Despite recognizing the importance of planning for the future, life insurance is often something that many will delay looking into. It can feel complicated, even tricky at times. And figuring out how much life insurance costs can be overwhelming. It’s not something that comes in a standard size or model, but rather life insurance is very personalized. In short, calculating the cost of life insurance takes into account factors such as your age, gender, health details, and lifestyle. It also needs to factor in the policy type, the coverage amount, and duration. These seven key factors will certainly influence the cost of your life insurance, and they could also be used to determine if you’re eligible for discounts. Here Are 7 Key Factors That Will Impact Your Life Insurance Premium1. Type of Life Insurance PolicyThe two most popular types of life insurance are: 1) Term Life Insurance provides coverage for a set amount of time (term), and the length of that term play a big role in the cost of the policy; and 2) Permanent or Whole Life is designed to provide protection for the rest of your life and as a result, is usually more expensive than term life insurance. Plus, whole life insurance policies often offer a cash value which your premiums contribute to. 2. AgeThis has the most significant impact on your life insurance premiums. Typically, the younger you are, the lower the cost of your life insurance. As you age, the risk of your health deteriorating increases. Consequently, life insurance policy premiums grow more expensive with age. With this in mind, it simply makes financial sense to apply for life insurance sooner rather than later. You’ll never be younger than you are today. It’s never too late to buy life insurance to safeguard your family’s financial future. However, buying today will save you money on the protection you’re after. 3. Smoking HabitsSmoking has proven to be a risky habit, and insurance companies know this all too well. Those who smoke or vape are likely to pay significantly higher life insurance premiums, sometimes double that of non-smokers. There is good news, however. Many insurance companies define a non-smoker as someone who has not consumed any product containing nicotine during the past 12 months, and some are willing to re-evaluate once you’ve quit. Some insurance companies even have quit smoking incentive plans to help their customers. This means it’s never too late to make a positive lifestyle change and enjoy some significant savings on your life insurance premiums. 4. GenderStatistically, women live longer and engage in healthier lifestyles. In general, because men are thought to die at a younger age – Canadian men live an average of 80 years – their premiums are more expensive than those of women, who on average live to the age of 84. 5. LifestyleHow you live your life could be an indicator of risk for insurance companies. From obesity and heavy drinking to high-risk behavior like skydiving or reckless driving, your lifestyle can increase your life insurance premiums. Just like heart-pumping, hazardous sports are considered a higher risk, so are dangerous occupations – jobs such as firefighting, police, pilots, and stuntpeople. 6. Coverage AmountThe coverage amount is the death benefit. The more significant the life insurance payout, the higher your premiums will be. It’s important to work through how much life insurance coverage you need – if keeping costs low is a priority, make sure to keep your family’s future financial requirements realistic. Lowering your death benefit while ensuring your family’s financial future can result in some cost savings. 7. Your HealthNo surprise, insurance providers like healthy people. As part of the life insurance application process, you may need to undergo a health assessment or even a medical examination with a healthcare professional. If you have a pre-existing condition or a history of health issues, your insurance premiums may cost more due to the increased risk to the insurer. What if you don’t like needles or medical exams? Well, some insurance companies offer “no-medical” life insurance. To apply, you would need to answer a brief health questionnaire instead of completing a medical exam. This option may cost more than traditional life insurance coverage where you’ve undergone a medical assessment. But no medical life insurance might be worth it for people, who want a fast, hassle-free application process! Wrapping It UpWhen choosing a life insurance provider, it is essential to find a reputable insurer that offers the breadth of coverage you need at a price you can afford. The best way to ensure affordable life insurance premiums and save the most over the lifetime of your coverage is to enroll while you’re young and healthy and shop around to explore your options. A life insurance advisor can be a great resource while you’re looking around. They can help you determine an ideal life insurance coverage length and amount to align with your unique circumstances and goals. source https://arrestyourdebt.com/impact-your-life-insurance-premium/ Via https://arrestyourdebt1.tumblr.com/post/675570553895190528 One savings fund that might be missing from your personal finances at the moment is an emergency fund. This is a big mistake. An emergency fund is a savings fund that you need to have. Find out why it’s so important and why you should start building one for yourself right away. What Is An Emergency Fund?An emergency fund is a collection of savings reserved for emergency expenses. An emergency expense should be considered an urgent, unplanned expense that’s outside of your budget. Why Do You Need One?There are several reasons why you need an emergency fund. It’s a versatile safety net that can help you get through a lot of financial obstacles. Paying for Surprise Expenses:Your emergency fund will come in handy when you have to deal with a surprise expense, like when your water pipes leak, and you need to call a plumber to fix them, or when your refrigerator stops working, and you need to get a replacement. Your emergency fund should have enough savings to cover these expenses at a moment’s notice without disrupting your monthly budget. What could you do without an emergency fund? If you didn’t have this savings fund on hand, you might have to borrow funds to cover the surprise expenses and then work to cover repayments later. You could do this by putting the expense on your credit card, or you could apply for a personal loan online. When you’re searching for online loans, make sure to check that they’re available in your location. So, if you live in Houston, you’ll want to apply for personal loans in Texas to help you cover your emergency expense. This way, you can guarantee that your loan is available to Texans. Keeping You Afloat:Your emergency fund can do more than help you cover surprise expenses right away. It can also help you stay afloat in times of distress when your regular source of income is not enough — or worse, when it’s not there at all. The COVID-19 pandemic is a perfect example of why you need to have a substantial emergency fund sitting in your financial portfolio. So many Americans lost their jobs or had their work hours reduced because of the pandemic. Many caught the virus and had to take time off from their jobs to recover. Others had to sacrifice their jobs so that they could take care of sick/elderly relatives or care for their children during school/daycare closures. If you intend to use an emergency fund for this purpose, you should try to save up at least three to six months’ worth of your expenses in the savings account. This amount should help you manage your essential expenses for this period, which gives you enough time to recover and regain a steady income or get the support you need. Reducing Financial Stress:Another thing that an emergency fund can do is reduce your financial anxiety and give you peace of mind in your day-to-day life. You don’t have to worry about whether small or big emergencies will turn your finances upside down. You know that you have a safety net set up to protect you in these circumstances. You can be confident that you can recover from these obstacles and get back up, relatively unscathed. If you don’t have an emergency fund, you need to change that. Start making yours now! source https://arrestyourdebt.com/you-need-to-have-this-savings-fund/ Via https://arrestyourdebt1.tumblr.com/post/675215702663266304 Your wedding day is going to be one of the most beautiful days of your life and planning it can be very exciting. You might be dreaming about having a lavish celebration, but why spend all your savings when you can have an amazingly memorable day without breaking the bank? From your dress to the venue and decorations, there are many ways to save money when planning your wedding, so you can have your dream day without getting into debt. Check out our list of practical tips designed to help you plan a frugal but wonderful Big Day. 1. Prioritize and Budget EverythingWhen you’re trying to plan a wedding on a budget, it’s natural to have to make some compromises. But this doesn’t mean that you can’t have a great celebration without piling on massive bills. If you want to make the most of your budget, start by making a list of non-negotiables and non-essentials and set a budget for each item on the list. For example, if the venue is not the most important thing for you, opt for a small backyard wedding ceremony. And if you are not keen on receiving an expensive diamond ring, there are many unique options out there you can choose from. For a budget-friendly alternative, opt for zirconia, amethyst, or pearl engagement rings. So instead of spending a fortune on things that are not really important to you, find cheaper alternatives and keep your extra budget for things that really matter. 2. Choose a Low-Cost VenueOne of the biggest expenses that come with planning a wedding is the venue. So, if you really want to save some money, it would be a good idea to swap the traditional wedding locations, like fancy restaurants or expensive beach set-ups, with unique and intimate ones like the backyard of your family home or a friend’s garden. If you don’t have access to such a location, you can find a chic Airbnb with a nice garden and maybe a pool and rent it for a couple of days. An unconventional venue will help trim down your budget and keep the ceremony more personal. The best thing about having your wedding in the backyard of your family home is that you can celebrate each year in the same place and make it a tradition. Imagine celebrating your 30th wedding anniversary in the same place you got married – wouldn’t that be special? 3. Keep Your Guest List IntimateThe main priority for many couples on their wedding day is having their closest friends and family there to share the special moment. If you really want to be frugal, keep your ceremony small and intimate. Cutting down the guest list is just something that you should do if you want to spend less on food and drinks. Instead of inviting all your old friends to the big day, ask yourself when is the last time you met up with that person. And if the answer is over 6 months before, then maybe they shouldn’t be a part of your celebration. 4. Rent the Wedding AttireWe all know how expensive wedding attire is, especially the wedding dress. Instead of paying thousands of dollars for something that you will only wear one time, try renting a beautiful designer gown and a slick and modern tux. Some bridal boutiques offer this option, but there are also plenty of online wedding rental services with a variety of styles to choose from. Besides being an amazing money-saving opportunity, renting your wedding attire might even give you the chance to snag the dress of your dreams from a high-end designer that you could never be able to afford otherwise. And don’t forget the accessories. Always ask the rental company if they provide packages that include a veil, shoes, and other accessories for a lower price. 5. Ask for Help Instead of GiftsIs your cousin a talented photographer? Is your best friend amazing at doing make-up? If you have such talented friends or family members, ask them if they would be willing to provide help at the wedding instead of a gift. This would work well for photography, DJing, baking and cooking, tending the bar, or other tasks that a wedding entails. While some guests may prefer not to do this, others will jump at the chance. After all, you’re not the only one trying to save money. 6. DIY Whatever You CanWhen it comes to budget-friendly weddings, DIY projects can help you save a lot of money. Creating your own bouquets, flower arrangements, wedding favors or decorations can help keep your expenses under control. Instead of hiring an expensive wedding decorator, try organizing a fun workshop for yourself, your friends and family. Find a few good tutorials online and start crafting your own personal wedding details. Besides being a fun activity you can do with your loved ones, it will definitely help you save a lot of money. 7. Hire a Food TruckWhile trimming down the guest list saves a lot on food, you can also save more by finding a low-cost catering alternative. Instead of paying a lot of money to fancy caterers, opt for a small family-owned restaurant and use the food you order to create a cute open buffet table. In this way, you can also save the money you would have otherwise spent on waiters. But if you are looking for something more unique, a great idea would be to hire a food truck. Besides being cheaper than any restaurant or caterer, it’s fun and perfect for an intimate backyard wedding. 8. Make Your Own InvitationsTrim down your wedding costs by making your own invitations. You can find really nice DIY kits that cost under $100 and print the invitations yourself. If you have access to a printer and can do a basic invite layout, you can easily create classy wedding invitations on your own for a fraction of what the cost would be if you were to hire a professional. If you are not very talented at design but you’ve always loved your handwriting, writing your own invitations is a great idea that will help save you a lot of money. But make sure you follow an example so you don’t forget any important details. 9. Downsize Your CakeIf you want to reduce your wedding expenses, you might want to forget about ordering a custom-made wedding cake. Instead, purchase 2 or 3 round birthday cakes in different sizes, stack them on top of each other and add some delicate embellishments. You can opt for real flowers – which you can pick out from your garden – as part of your cake decor, to really help reduce the costs. This will make your unconventional pastry look like a fancy wedding piece. After all, the taste will still be delicious, but the price will be much lower than you would pay for a traditional cake. source https://arrestyourdebt.com/frugal-yet-fabulous-wedding/ Via https://arrestyourdebt1.tumblr.com/post/675215701288615936 |
Unique BalistreriHi I am Unique Balistreri, 37 years old from Texas, TX, USA, working on Online Digital Marketing from the last 7 years. Here I am sharing special tips about it. |