A podcast may interest you if you are interested in personal finances. There are many choices if you don’t know where else to look. Personal finance podcasts cover many topics, including managing your money and investing. Listen to the podcasts of various financial experts. The Personal Finance Podcast hosts Brian Preston and Bo Hanson, and they guide you through the basics of financial literacy. They also discuss financial issues like investing and borrowing, as well how to improve financial literacy.
Listen Money Matters
Andrew Fiebert created the podcast and website for Listen Money Matters in December 2012. It is known for its relatable tone as well as practical advice. Thomas Frank became the first co-host in 2015.
Planet Money
Planet Money podcast is an excellent source of financial news. This popular NPR program offers insightful coverage on the big economic forces that affect us all. The show receives over 1.4 million listeners monthly. Three hundred episodes are produced each year. The podcast also includes five to six TikTok videos a day, and is available on smart phones, tablets, and smart TV.
BiggerPockets money
To build passive income streams you will need to learn how you can pay off debt and invest your money in real estate. Although passive income streams are not dependent on your credit score they will be built faster if you have good credit. However, you can also build passive income streams with poor credit. BiggerPockets Money's CEO shares his secrets and tips for creating passive income in this podcast.
Stacking Benjamins
FastCompany praised the podcast recently for finding a great balance between practicality, fun, and humor. It's easy to see why. Stacking Benjamins is entertaining and practical. This podcast can help build your financial future. Read on to find out why. Below are some highlights of the podcast.
Radical personal finance
Joshua J. Sheats a financial planner founded Radical Personal Finance Podcast. The podcast's purpose is to help people lead a richer, more satisfying life now and create financial freedom over the next ten years. He combines financial planning and lifestyle design to create a unique business strategy. Listeners will learn how to maximize the potential of their money, while avoiding the pitfalls of traditional financial planning. You can listen to podcast episodes at no cost.
How to Manage Student Loans
A key part of any financial plan should be managing your student loan debts. There are many ways to manage your student loans. However, your financial situation and career goals will determine your strategy. You can watch this video from AccessLex Institute to learn more about loan repayment methods and plans. Consolidation programs and Private Student Loan Forgiveness (PSLF) are two options that can be used to manage your loans. These plans may help you repay your loans faster and more efficiently depending on your personal circumstances.
Dave Ramsey
Dave Ramsey has a podcast about finances that can help you stay on top. Ramsey is the Ramsey Show's straight-talking host. Dave Ramsey's real-world experience will help you learn about everything from money management to debt relief. Here are three reasons Dave Ramsey's financial podcast is worth your attention. These are some of the most popular Ramsey shows.
FAQ
Do I need to diversify my portfolio or not?
Many believe diversification is key to success in investing.
Many financial advisors will advise you to spread your risk among different asset classes, so that there is no one security that falls too low.
However, this approach doesn't always work. You can actually lose more money if you spread your bets.
Imagine you have $10,000 invested, for example, in stocks, commodities, and bonds.
Suppose that the market falls sharply and the value of each asset drops by 50%.
There is still $3,500 remaining. But if you had kept everything in one place, you would only have $1,750 left.
In reality, your chances of losing twice as much as if all your eggs were into one basket are slim.
It is essential to keep things simple. Do not take on more risk than you are capable of handling.
At what age should you start investing?
The average person spends $2,000 per year on retirement savings. However, if you start saving early, you'll have enough money for a comfortable retirement. If you wait to start, you may not be able to save enough for your retirement.
You should save as much as possible while working. Then, continue saving after your job is done.
The sooner that you start, the quicker you'll achieve your goals.
When you start saving, consider putting aside 10% of every paycheck or bonus. You might also be able to invest in employer-based programs like 401(k).
Contribute enough to cover your monthly expenses. After that, you can increase your contribution amount.
Which type of investment vehicle should you use?
Two options exist when it is time to invest: stocks and bonds.
Stocks represent ownership interests in companies. They offer higher returns than bonds, which pay out interest monthly rather than annually.
You should invest in stocks if your goal is to quickly accumulate wealth.
Bonds are safer investments than stocks, and tend to yield lower yields.
Keep in mind, there are other types as well.
They include real estate, precious metals, art, collectibles, and private businesses.
What type of investment is most likely to yield the highest returns?
It is not as simple as you think. It all depends on how risky you are willing to take. If you are willing to take a 10% annual risk and invest $1000 now, you will have $1100 by the end of one year. If you were to invest $100,000 today but expect a 20% annual yield (which is risky), you would get $200,000 after five year.
The return on investment is generally higher than the risk.
It is therefore safer to invest in low-risk investments, such as CDs or bank account.
However, you will likely see lower returns.
On the other hand, high-risk investments can lead to large gains.
For example, investing all of your savings into stocks could potentially lead to a 100% gain. However, it also means losing everything if the stock market crashes.
Which is the best?
It depends on your goals.
If you are planning to retire in the next 30 years, and you need to start saving for retirement, it is a smart idea to begin saving now to make sure you don't run short.
However, if you are looking to accumulate wealth over time, high-risk investments might be more beneficial as they will help you achieve your long-term goals quicker.
Keep in mind that higher potential rewards are often associated with riskier investments.
However, there is no guarantee you will be able achieve these rewards.
What should I look at when selecting a brokerage agency?
When choosing a brokerage, there are two things you should consider.
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Fees – How much are you willing to pay for each trade?
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Customer Service - Do you have the ability to provide excellent customer service in case of an emergency?
You want to choose a company with low fees and excellent customer service. You will be happy with your decision.
Statistics
- If your stock drops 10% below its purchase price, you have the opportunity to sell that stock to someone else and still retain 90% of your risk capital. (investopedia.com)
- Some traders typically risk 2-5% of their capital based on any particular trade. (investopedia.com)
- 0.25% management fee $0 $500 Free career counseling plus loan discounts with a qualifying deposit Up to 1 year of free management with a qualifying deposit Get a $50 customer bonus when you fund your first taxable Investment Account (nerdwallet.com)
- Most banks offer CDs at a return of less than 2% per year, which is not even enough to keep up with inflation. (ruleoneinvesting.com)
External Links
How To
How to invest stock
Investing is a popular way to make money. It's also one of the most efficient ways to generate passive income. As long as you have some capital to start investing, there are many opportunities out there. You just have to know where to look and what to do. The following article will show you how to start investing in the stock market.
Stocks are shares that represent ownership of companies. There are two types: common stocks and preferred stock. Common stocks are traded publicly, while preferred stocks are privately held. The stock exchange allows public companies to trade their shares. The company's future prospects, earnings, and assets are the key factors in determining their price. Stocks are bought to make a profit. This process is known as speculation.
There are three main steps involved in buying stocks. First, you must decide whether to invest in individual stocks or mutual fund shares. Second, choose the type of investment vehicle. Third, determine how much money should be invested.
Choose Whether to Buy Individual Stocks or Mutual Funds
It may be more beneficial to invest in mutual funds when you're just starting out. These are professionally managed portfolios with multiple stocks. Consider how much risk your willingness to take when you invest your money in mutual fund investments. Some mutual funds carry greater risks than others. You might be better off investing your money in low-risk funds if you're new to the market.
If you prefer to invest individually, you must research the companies you plan to invest in before making any purchases. Check if the stock's price has gone up in recent months before you buy it. Do not buy stock at lower prices only to see its price rise.
Select your Investment Vehicle
Once you have made your decision whether to invest with mutual funds or individual stocks you will need an investment vehicle. An investment vehicle is simply another way to manage your money. You could for instance, deposit your money in a bank account and earn monthly interest. Or, you could establish a brokerage account and sell individual stocks.
You can also set up a self-directed IRA (Individual Retirement Account), which allows you to invest directly in stocks. The Self-DirectedIRAs work in the same manner as 401Ks but you have full control over the amount you contribute.
Your investment needs will dictate the best choice. Do you want to diversify your portfolio, or would you like to concentrate on a few specific stocks? Do you want stability or growth potential in your portfolio? Are you comfortable managing your finances?
The IRS requires that all investors have access to information about their accounts. To learn more about this requirement, visit www.irs.gov/investor/pubs/instructionsforindividualinvestors/index.html#id235800.
Determine How Much Money Should Be Invested
You will first need to decide how much of your income you want for investments. You can put aside as little as 5 % or as much as 100 % of your total income. Depending on your goals, the amount you choose to set aside will vary.
If you're just starting to save money for retirement, you might be uncomfortable committing too much to investments. You might want to invest 50 percent of your income if you are planning to retire within five year.
Remember that how much you invest can affect your returns. It is important to consider your long term financial plans before you make a decision about how much to invest.