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Tim Draper Says Yes to Bitcoin For The Holidays, Anticipates $250,000 BTC In 2024
2023 Dec 01, 9:09am | 466Are we in for a Bitcoin (CRYPTO: BTC) Christmas? With the next Bitcoin halving expected in April 2024, a reduction in U.S. interest rates, and the spot BTC ETFs looking like an inevitability, there are clear drivers for Bitcoin’s march forward. Still, close observers warn that Bitcoin may not...
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10 High-Yield CDs With APYs Above 5% Offer Savers Superior Returns Over Treasuries
2023 Nov 29, 12:13pm | 715As financial institutions continue to raise their certificate of deposit (CD) rates, American savers find themselves presented with increasingly attractive opportunities to grow their money. These developments have been spurred by multiple Federal Reserve rate increases since March 2022, which have...
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How The Fed's Battle Against Inflation Affects Your Money In The Bank, Investments, Credit Card Bills And More
2023 Nov 28, 9:37am | 1015Inflation has been a prominent topic for several years, and most Americans are aware of the Federal Reserve’s efforts to combat it by raising interest rates. But not everyone realizes that these actions have far-reaching implications beyond those for prospective homebuyers. The Federal...
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What Will I Pay In Taxes If I Receive A 1099? Understanding Tax Obligations As A Self-Employed Independent Contractor, Gig Worker Or Side Hustler
2023 Nov 27, 11:23am | 882Independent contractors and small-business owners face unique financial challenges, particularly when it comes to managing taxes and planning for the future. The freedom of self-employment brings with it the responsibility of handling tax obligations, such as setting aside money for estimated...
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People Believe $1.8 Million Is Needed For Retirement, Experts Suggest Otherwise — Unraveling Myths And Smart Savings Strategies That Can Help You Save For Your Future
2023 Nov 22, 12:50pm | 954In the ever-evolving landscape of retirement aspirations, Americans find themselves adjusting their financial targets for the golden years. The new magic number is $1.8 million, up from the previous benchmark of $1.7 million, According to the latest 401(k) Participant Study by Charles Schwab...
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Having Brokerage Statement Nausea?
2023 Nov 22, 11:02am | 772Ever felt a wave of nausea wash over you when looking at your brokerage statements? Or better yet, every been afraid to open your brokerage statements? You're not alone. Brokerage Statements can be overwhelming, and the root cause of this unease may be more complex than you think. In this blog...
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Is It Your Income Or Spending Calling The Shots?
2023 Nov 22, 10:37am | 958The paycheck-to-paycheck tango is familiar to many, and it has a common refrain: ‘If only I made more money.’ But is this dance a result of an income shortfall or spending habits gone astray? Let’s say you meet an extremely successful professional who earns $1 million every year,...
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What Is The Average Inheritance In The US? The Answer May Be Less Than You Expect
2023 Nov 21, 10:00am | 871Contrary to common expectations, the average inheritance American households receive is lower than many expect. A common misconception is that inheritance amounts are generally substantial, but data suggests otherwise. The Federal Reserve’s Survey of Consumer Finances from 2016 to 2019...
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401(k)s & Taxes: What You Need To Know
2023 Nov 20, 1:04pm | 1262The majority of us have been told saving for retirement starts with a 401(k). 401(k) is actually the section of the tax code that allows earners and employers to create an account that is not taxed at the time of earnings. The strategy is that money is taken directly from earnings, pre-tax, and put...
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How To Turn A $100,000 Investment Into $1 Million — And Retire A Millionaire
2023 Nov 20, 9:12am | 888For those aiming to boost their retirement funds significantly, converting $100,000 into $1 million is a challenge but achievable. Saving for retirement is a fundamental part of financial planning, where starting early can significantly enhance the growth potential of your savings. While a...
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You May Be Able To Pay 0% In Capital Gains Taxes — Legally
2023 Nov 17, 10:54am | 939In the financial game, capital gains tax can feel like a persistent hurdle, chipping away at your investment returns year after year. But there’s good news: With a bit of know-how and some smart planning, you can minimize its bite. Capital gains tax is essentially a tax on the profit...
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Got This Much in the Bank? It Turns Out, You Could Be Happier With A Financial Adviser
2023 Nov 16, 2:05pm | 869In an era where wealth and well-being are closely intertwined, a recent survey sheds light on an interesting aspect: People with more than $1.2 million in assets experience increased happiness when they engage the services of a financial adviser. The survey uncovers a significant correlation...
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80% Of American Households Are In A Worse Financial Position Now Than They Were Before The COVID Pandemic Hit — What You Can Do To Keep Your Head Above Water
2023 Nov 15, 1:28pm | 785The latest Federal Reserve study revealed a concerning trend among American households, particularly those outside the wealthiest 20%, according to a Bloomberg report. Since the onset of the COVID-19 pandemic, they have depleted their extra savings and have less liquid assets than they had before...
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47 Terms You Need To Understand By 30
2023 Nov 15, 1:10pm | 72047 Terms Every Investor Needs To Understand By Age 30 (If you want to have a shot at being a millionaire by 40): Asset allocation - the percentage of each asset you own Diversification - when you own different types of assets Mutual fund - a pool of money from investors to invest in groups of...
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What Is Inflation And How Does It Affect Your Financial Situation?
2023 Nov 15, 12:54pm | 1409While the media and most Americans today are talking about how inflation is ravaging our economy lately, few truly understand what inflation actually is, how it works, and most importantly, how to adapt to minimize its adverse effects in their lives. So in this article, I’m going to break all...