By the age of 30, most people are out of college and well into their careers. Many have already experienced a job change, maybe a few promotions, and are finally feeling like they have extra cash to put into investments. But with so many investment options, where do you even start?
You’ve been looking at new cars, and you think you’ve found one you like. But before you even step foot inside the car dealership, do you have a plan for how to pay for that new car? You might not think that matters — after all, you can either get your car loan from your bank or from the dealer. There’s really no difference, right?
If your child is heading off to college soon, you’ve probably considered costs like tuition, housing, food and books. But have you considered your college student’s need for spending money? These are the one-off expenses like concert tickets, late-night pizza orders, or a university sweatshirt imprinted with the school mascot.
If you’re a small business owner, it might feel counterintuitive to have a business checking account with the goal of keeping a $0 balance.But that’s actually the whole point of a Zero Balance Account: You use that dedicated checking account to fund a specific expense, such as payroll, departmental spending, petty cash, travel reimbursement, or any other business need. Funds are sent to a particular Zero Balance Account only when necessary to cover checks or debits. At the end of every day, any money in the Zero Balance Account is transferred back to the primary account.
Regardless of what kind of investor you are — small or large, aggressive or conservative, or somewhere in between — mutual funds offer you diversification at a lower cost, this is often with the added benefit of professional management. For those reasons, mutual funds are one of the most popular investment vehicles for the majority of investors. So let’s take a look at what mutual funds are, and why you should consider them as part of your overall investment strategy. And before you make any investment decisions, seek out a trusted professional for investment advice.
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