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.
Our Kansas City Financial Planner Weekly Roundup
Hello everyone and welcome to another edition of the NextGen Wealth Weekly Roundup. Hope you’re having a great week!
The Dow dropped nearly 400 points as Trump suggested U.S. companies should begin to look for other alternatives to China. This comes after China unveiled new tariffs on goods. The S&P also dropped 1.5% and Nasdaq dropped 1.7%.
The Dow did rise slightly on Thursday before the expected speech from the Federal Reserve’s top official. Expectations for a rate cut in September have been hitting the investors with some pressure, so the market saw these effects Thursday.
Federal Reserve Chairman Jerome Powell did give an impression today that the Fed is ready to cut interest rates further if the economy shows a need. But, wasn’t clear when this may happen or how much the rate cut would be.
Powell implied in his speech that the trade wars Trump is having with China have complicated the Fed’s ability to set interest rates and have thus contributed to a slowdown in the global economy.
So enough of my commentary, let’s jump in and check out some of the best articles I ran across from the past week. Enjoy the weekend and find some time to relax.
Backdoor Roth IRA 2019: a Step by Step Guide with Vanguard
First up, we turn to Physician on Fire with some information on the Backdoor Roth IRA and how he makes his conversion with Vanguard. There are some things to put into consideration before attempting a Backdoor Roth, including not having money in a tax deferred IRA in your name. Read on for some more information on how Physician on Fire made his backdoor Roth conversion.
This year, I made my seventh pair of " Backdoor Roth " contributions with Vanguard. If you've heard of the Backdoor Roth IRA, that's great! You've been paying attention. If not, I'll give you a brief overview, and a number of links to additional articles with more complete descriptions of the history and important caveats.
Learn Everything You Need to Know About the New Apple Card
Next up, we turn to Camilo from Money With a Purpose with a look at the new Apple card that was announced earlier this year. There are some perks to this card, specifically the convenience of having it directly on your phone. Camilo goes over the benefits to this card and whether it is actually worth it.
Earlier this year, Apple CEO, Tim Cook, announced their new Apple Card product at a special event at their Cupertino headquarters. The anticipation for details regarding their new credit card with Goldman Sachs was highly anticipated and closely watched.
High Income Is No Guarantee of a Rich Life
Next up, we turn to The Public Slate on how he prepares for financial independence as a high-income earner. He gives some practical principles that can be applied to those from different levels of income, hoping to also gain financial freedom. One of these principles being having a positive mindset about your financial situation.
Two jobs ago I had a friendly competitor that would call me to compare notes and gossip about our industry. He'd ask me if I was headed to various conferences. When I said no, he'd say, "Must be nice not to have to get on the road to get business."
The Ultimate Guide To Save Money!
In our final read of the week, we turn to Arrest Your Debt with 32 helpful and reasonable strategies to best save money. There are different categories for budgeting, including restaurant dining, grocery store hacks, and transportation. Continue reading for helpful and realistic ways of saving that you may have not yet considered.
With a quick search on the internet, it seems there are countless ways to save money. The saving money tips range from making your own soap to shopping around for car insurance. I have scoured the web and put together the 32 most comprehensive and reasonable saving strategies out there.
Things We Were Up To This Week
Organizing your financial life is a fundamental, critical step for wealth building. Establishing a budget, planning your savings and ensuring you are preparing for retirement now secures your future and ensures you stay on track to meet your personal financial goals.
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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