Welcome to the weekly roundup where I share with you interesting articles from across the web. I hope you enjoy and absolutely feel free to share and pass along.
Hello everyone and welcome to another edition of the NextGen Wealth Weekly Roundup. Hope you’re having a great close to the week!
In stock market news this week, we continued to see some volatility with unknowns that are still lingering and then we got hit with some tough retail numbers in December. I believe the worst in 10 years.
Apparently, we weren’t buying enough Christmas presents this year. Or at least enough to live up to the expectations of how much we should be buying.
Some of it could be because of the government shutdown and, if so, numbers will look even worse for January. Typically the market factors in these types of things, but this one was definitely a surprise.
Regardless, short -term volatility has no effect at all on your long-term goals. Keep your eye on the prize and don’t let these little distractions deter you from your ultimate goal of financial independence.
In the meantime, check out some of these gems I found from this past week. Enjoy the weekend and find some time to relax.
In our first piece, we turn to ESI Money for an interview he did with Marc from Vital Dollar on how you can turn your hobby into a money maker...the dream we can all relate to. From tips on why hobbies make great side hustles to getting into the nitty-gritty of how to actually make money from one, Marc gives you all you need to know. If you’re thinking about, then this one is a must read for you.
I love ideas for making extra money. I also love hobbies (who doesn't!?) for the enjoyment they provide. So when you combine the two, what's not to love? Over the years I've had many hobbies - cycling, swimming, growing roses, playing chess, etc. One of them (writing!)
Next up, we turn to Andrew at the Wealthy Nickel for a little advice on evaluating rental properties: the one percent rule. I was not familiar with the one percent rule in regards to real estate, but I defintely am now...amongst some other rules. If you’re thinking about or currently investing in real estate, then this is a must read.
So you're interested in investing in real estate rental properties. Congratulations! But the learning curve to evaluating and purchasing your first house is STEEP. How do I find my first property? How do I figure out if it'll make money? How do I even know what a good deal look like?
Next up, we turn to a guest post on DrBreatheEasyFinance from Debt&Cupcakes on some tips to saving money on a tight budget - certainly something we can all relate to or at least some point in our life. If you’re struggling to find some extra savings in your life, then this is one article you need to check out.
The formula for wealth is to make more money while spending less money. However, for most people, the ability to earn more can be limited. Especially, if their main job is very tasking and already require all of their time. The next best step is to control what you can.
Apparently, we are loving us some Debt&Cupcakes this month becuase we turn to them once again where they drop some knowledge on how much you should save in an emergency fund while still paying off debt. I always love getting advice from someone who has acutally gone through it themselves. This is a great article and provides some great advice to a question I run across regularly.
There's something incredibly disconcerting about completing a zero-based budget and then sending all of your extra cash towards your debt. It's not that repaying debt is uncomfortable. It's the fact that you're not saving money anymore.
Finally, we turn to the blog, Real Money Robert, on the best ways to find swag codes and earn swag bucks. I definitely didn’t know a whole lot about this but learned a ton from this article. Swagbucks here I come!
Do you like earning extra cash? Search the interwebs for Swag Codes and earn Swag bucks along the way! You'll be reeling in the cash in no time!
If you want more freedom over your time, building passive income streams should be a priority. Finding ways to convert active income, i.e. your job, to a passive model will give you more agency over your waking hours. Working a day job means you're trading time for money.
So who exactly am I at NextGen Wealth? It definitely seems like I can hold many different titles depending on the day, but for my bio's sake, I will stick with my professional title of Financial Planner - although you could go with Financial Advisor, Financial Consultant, etc., they're really all one in the same).
Now that you've done your research, you know what type of life insurance you need, how much coverage is sufficient, and what questions will be asked, you're on your way to get the policy that's right for you. You may have even started reading reviews of life insurance companies, to help you decide which company will win your business.
Enjoy the weekend and spend time with family and friends. Take a break from work and give your mind some well-deserved rest from the long week. Cherish the time you have with your family and I guarantee it will make your life much happier!
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NextGen Wealth, LLC is a registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor, tax professional, or attorney before implementing any strategy or recommendation discussed herein.
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