How to Join the New Generation of Confident Investors (Even With Only $100)

This is a guest post by Joel Zaslofsky of ValueofSimple.com

confident investorIt’s a sad and unsurprising truth.

Not all of us can have Jeff Rose as our pocket financial mentor. After all, he has limited time, energy, resources, and attention… just like the rest of us.

But the happy – and shocking – truth is that you might not need Jeff’s one-on-one time or the full suite of certified financial pro resources.

You can confidently and successfully invest by yourself.

I’ve been self-investing for twelve years and the rewards – financial, emotional, and practical – have been amazing.

But maybe you didn’t start reading your parents’ personal finance magazines when you were twelve or work for a decade in the investing industry like I did.

It doesn’t matter.

I’m not an investing pioneer and I don’t know the “right way” (© Wall Street 1880-2013). Yet, self-investing success is not new and is much more likely now than it ever has been.

The tools for joining a new generation of confident investors are available. And the emotional or practical obstacles to building momentum are ready to crumble in your capable hands.

Here’s how to hit the start (or restart) button on investing… with as little as $100. [Read more...]

Can You Rollover Your 401k to a Roth IRA?

Typically, most people will initiate a 401k rollover to a traditional IRA.

A common question that I’ve been getting lately is,

“If you can roll over your 401k into a Roth IRA then how you do it?”

401k rollover into Roth IRA

Whenever you leave your job, you have a decision to make with your 401k plan.

A variation to that is if you have been contributing to a Roth 401k…..then what are your choices?

Let’s see if I can help you make “cents” of the situation. Here’s how you roll over 401k into a Roth IRA.




[Read more...]

How to Master the Art of Delayed Gratification

delayed gratificationWhen it comes right down to it, what is the true key to financial success?

You could argue that the key is getting enough marketable skills to be able to earn a decent income.

Or that the key is to consistently track your monthly spending in a budget spreadsheet. Or you could even argue the key is to learn the ins and outs of investing.

But really, while all of these things are very important to your long-term financial health, each of them is based on upon one particular characteristic: the ability to delay gratification.

Above all else, I would argue that it’s the art to delayed gratification that is the true key to financial success.

While many external factors can cause financial hardship, one of the common internal factors that can result in financial difficulty is an inability to appreciate delayed gratification. If you’re buried under debt, struggling to pay your car loan, or even having trouble paying your mortgage, then it’s possible you might benefit from a different perspective on long-term goals.

So what is the art of delayed gratification, and how can you obtain (or enhance) it yourself? Let’s explore this in depth: [Read more...]

Online Broker Comparison – Which Online Broker Should I Open an Account With?

online broker comparisonFinding a great online brokerage firm to hold your Roth IRA, Traditional IRA, or just general trading account is a daunting task. Each broker tailors their website to show off their strengths and hide their weaknesses in comparison to their competition. Comprehensive fee information is hidden deep within the website; sometimes you specifically have to do a Google search to find the page with the entire fee and commission agreement. Simply put, this is not how it should be. We believe transparency and easy to navigate websites should be the norm with brokerages. Until that time comes we have done the research for you. (You can thank us later when you retire on your own island, ok?) We’ve just launched a new online broker comparison page that will be kept up to date with the latest information on the best brokerage firms available. Below you will find a comprehensive review of the most critical aspects to look at when selecting your online broker: [Read more...]

Average Retirement Savings by Age – How Does Your Savings Stack Up?

average retirement savingsYou’ve been busting your butt, scraping by, trying to save as much as you can into your retirement accounts, but you never feel like it’s enough.

Money is such a taboo subject that most of your co-workers don’t feel like opening up about how much they have saved (or how much they wish they would have), so it’s tough trying to gauge if you’re even in the ballpark of actually retiring one day.

How do you know how you compare to the average retirement savings figure?

According to a recent survey, 51% of workers over the age of 55 have less than $50,000 saved for retirement. And 39% in that same age group have less than $25,000 in retirement savings. Those are frightening numbers if you consider that those people are very close to the typical age of retirement.
[Read more...]

Best Places to Open a Roth IRA

Do you know what your income tax rate will be in the future?

The answer to that question is key to your retirement planning. If you think your tax rate will be lower in the future then it makes sense to avoid paying tax now through a tax-deferred investment vehicle like a Traditional IRA.

The Roth IRA Movement

The Roth IRA Movement

But with a mounting national debt, many people believe personal income tax rates will eventually be forced to increase.

Even if the national debt somehow gets taken care of, the government doesn’t tend to lower a tax once it is set.

If tax rates are going to go up the best retirement account for you to open if you qualify is a Roth IRA.

You will pay income tax today and never pay income tax on your nest egg again.


Where to Open a Roth IRA

Once you’ve made the decision to open a Roth IRA there are a number of companies that are happy to accept your contributions. The number of options you have can be overwhelming: do you go with a discount broker, a full-service broker, or direct to a mutual fund company?

We’re here to help you cut through the confusion to find the best company to open a Roth IRA with. (Just getting started investing? Check out our Best Online Brokers for Beginners.)
[Read more...]