Answering Money Questions
Educating and empowering you to own your finances by answering money questions!
Tag: investing
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How do robo-advisors compare to financial advisors?
And which one is right for me? tl;dr: Robo-advisors use computer algorithms to manage your financial portfolio based on preset parameters around risk tolerance, financial need, and type of investments desired. On average, they charge 0.25% to 0.89% of the amount they’re investing for you per year. A Financial Advisor is a person, who is…
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Should I invest money in stocks outside my 401(k)?
Should I invest money (outside of a 401(k)) in stocks instead of savings accounts? If so, how much? tl;dr: Yes, after you have an emergency fund, and you’ve set aside cash for large upcoming (within 5-ish years) expenditures like a new car, kids’ braces, college, or a home project. Basically, you want to meet your…
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What’s the Best Way to Save For Retirement?
There are two aspects to saving for retirement – DOING IT, and DOING IT CONSISTENTLY. The rest is gravy. TL;DR: Your target savings rate for retirement is 15% of your pretax salary (including your employer’s match, if you have one). Keep your life simple by utilizing your employer’s retirement plan (contribute as much as required…
Jennifer Fox
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