Monday, February 6, 2023
  • Login
198 Crowd Funding News
No Result
View All Result
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT
No Result
View All Result
198 Crowd Funding News
No Result
View All Result
Home Crowdfunding News

Personal Finance Professional Explains how 401(k) Plans, Robo-Advisors, Investment Apps can Help Grow Our Wealth

February 2, 2021
in Crowdfunding News
0
Share on FacebookShare on TwitterShare on Email

[ad_1]

Erica Gellerman, a CPA, MBA, and personal finance expert, notes in a blog post published by Chime Financial Inc. (a US-based banking challenger valued at around $14.5 billion) that if you’re planning to grow your wealth or net worth, then investing can be “a smart way” to do it. Gellerman explains that making strategic investments can be quite “powerful” or beneficial in the long-term. 

Gellerman acknowledges that investments are almost never guaranteed to grow in value and sometimes they may do the opposite and actually lead to the investor losing their money. However, the main goal is to select investments that will (statistically) average steady growth over the years, even if there are some setbacks or “little bumps along the way,” Gellerman explains.

When we make an investment, we’re actually buying something (such as an asset) in the hopes or with the expectation that it will generate substantial returns, Gellerman noted. For example, we can make investments in stocks, bonds, mutual funds / exchange-traded-funds (ETFs), among many other options.

Gellerman recommends looking into retirement plans such as a 401(k), which she thinks are “a great place to start investing.” Many employers will provide a company match, which means that they’ll either partially or fully match your contribution towards the 401(k) plans (up to a certain amount). 

Gellerman also noted that in these types of investments, your contribution will be automatically deducted from your paychecks, so you don’t have to always think about it and the funds will go directly to your retirement account. 

While sharing other investment options, Gellerman noted:

“Robo-advisors are another easy entry into investing. Rather than having a human manage the money that you invest — which can be expensive and require you to invest a large amount of money — a computer does the work for a fraction of the price. And as a result, the amount of money you need to start with is lower.”

Notably, there are many different types of Robo-advisory services that have been introduced during the past few years. As reported earlier this month, the Kava DeFi platform announced it would release a Robo-Advisor service to automate strategies for financial services.

California-based Fintech firm Wealthfront, which also offers Robo-Advisory services, had introduced “self-driving” money last year.

Gellerman added:

“[Money manager] Betterment requires no minimum investment amount, and Wealthfront requires a minimum of $500. Robo-advisors will give you a simple questionnaire when you sign up to understand your goals to help the computer decide where and how to invest your money. This approach is meant to be very hands-off, but still check in on your investments. If there’s something you don’t understand, speak to a person working at the Robo-advisor for details.”

While sharing more investment options, Gellerman noted that you may want to consider using investment apps which can make it fairly easy to get started, right from your smartphone. You may initially invest with a relatively small amount and also invest in stocks, bonds, and ETFs. For instance, Public allows you to get started with just $5, meanwhile, Robinhood doesn’t even have a minimum investment amount. 

Gellerman concludes:

“There are plenty of options available for beginning investors, and starting small can help build up your confidence over the long run. Remember though, investing isn’t a short-term get rich quick strategy. When you jump in, make sure you do so for the long-haul.”



[ad_2]

Source link

Tags: 401kAppsExplainsFinanceGrowInvestmentPersonalPlansProfessionalRoboAdvisorsWealth
ShareTweetSend

Related Posts

Crowdfunding News

Learning To Play Piano Is Made Easy With PopuPiano

June 3, 2022
Crowdfunding News

Solana Teaches Crypto Investors a Critical Lesson

June 3, 2022
Crowdfunding News

Caught naked!? | Crowdability

June 2, 2022
Crowdfunding News

EP #395 The Formula Nebia Towel Used To Raise $167,750 On Kickstarter

June 2, 2022
Crowdfunding News

News Fix: Startups Face a Souring Economy, SpaceX Skyrockets to $125 Billion

June 1, 2022
Crowdfunding News

Top 5 Crowdfunding Campaigns – May 2022

June 1, 2022
Load More
Next Post

Singapore based ECXX Global, a Digital Securities Exchange, Teams Up with UOB Kay Hian to Provide Securitized Token Offerings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

LATEST STORIES

Between Music – Crowdfunding video

June 5, 2022

Attacking A Market Failure With Candice Matthews Brackeen

June 5, 2022

Crowdfunding video – Kabeção 1st solo Album – Touching Souls

June 5, 2022

The Gecko – Failure is not an option

June 5, 2022

Roller Kingdom Crowdfunding Video

June 4, 2022

Introduction – Art of Failure with Eli Zelkha

June 4, 2022

Radbahn Crowdfunding Video + Fast Forward Science 2017 Film

June 4, 2022

Jorge Newbery at Failure Lab

June 4, 2022

Outland Denim Equity Crowdfunding Video

June 4, 2022

What I learned about Failure, Loneliness, and Red Lizard at the Spark Fest Cebu

June 4, 2022
Load More
198 Crowd Funding News

Own and operated by The Ike Lemuwa Group, LLC a Commonwealth of Virginia Limited Liability Company, USA.
Info@nigeriasmartnews.com / info@ikelemuwagroup.com
Toll-Free: 1 888 642 8433
3821 Dominion Drive Dumfries, Virginia, 22026. USA

Categories

  • Home
  • Crowdfunding News
  • Blog
  • Articles
  • Sponsorship
  • Crowd Support
  • Crowdfunding Sources
  • Partner with 198TILG Mastermind Platinum Group
  • Video

Recent News

  • Between Music – Crowdfunding video
  • Attacking A Market Failure With Candice Matthews Brackeen
  • Crowdfunding video – Kabeção 1st solo Album – Touching Souls
  • The Gecko – Failure is not an option
  • Roller Kingdom Crowdfunding Video
  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2021 198 Crowdfunding News.

No Result
View All Result
  • HOME
  • VIDEO
  • CROWD SUPPORT
  • ARTICLES
  • NEWS
  • BLOG
  • ADS
  • CROWDFUNDING SOURCES
  • BOOKS
  • SPONSORSHIPS
  • CONTACT

Copyright © 2021 198 Crowdfunding News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In