4 minutes reading time (818 words)

The NextGen Wealth Weekly Roundup February 21, 2020

Once again, China released a large number of new confirmed cases of the coronavirus, with nearly 800 more cases overnight. This then resulted in a major drop in stocks, with fear over the global economic slowdown bound to happen. It kinds of seems like this is a recurring theme.

THE NEXTGEN WEALTH WEEKLY ROUNDUP 2 21 2020

Earlier this week the market was up, as the number of confirmed cases had its lowest growth since January. This lifted investor sentiment and we saw S&P 500 and Nasdaq hit record highs. There was also talk of China taking action to lessen the effect of the coronavirus on their airline industry.

But the news today put the major averages on pace for their first weekly losses in three weeks. Even if the outbreak slows down, there is still going to be a major effect on global growth, especially as the outbreak is already taking a toll on China’s 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.]

eBay Flipping Challenge: Starting a Business with $0

First up, we turn to Millionaire Dojo with a look at how he is going to start an eBay Flipping Challenge without investing a dollar. This can be a great side gig, as it can be something you do without having to invest a lot of money. Keep reading for more on how you can start your own eBay flipping business. 

eBay Flipping Challenge: Starting a Business with $0 | Millionaire Dojo

Our first baby is on the way and I've been thinking about things we could do financially to get it started on the right path as soon as possible. A few weeks ago, I combined planning for the baby with something I've been wanting to start for probably a year now.

How to Be Successful Working Remotely

Next up, we turn to Keeping up with the Bulls with how you can be successful while working remotely. More and more employers are giving their employees the chance to work from home, but there are many factors that go into making that successful. Here are some ways to be sure working remotely is done professionally and successfully. 

How To Be Successful Working Remotely

Working remotely vs working in an office is different, but it doesn't mean you will be less successful. US Census data reported that 5.2% of workers in the U.S. worked from home in 2017, an increase from previous years. More companies are opening up to the idea of having employees work from home or work from anywhere.

Why You Can't Make More Money

Next up, we turn to Contrarian Saver with some possible reasons why you aren’t able to make more money. If you feel that you are stuck in a rut and struggling financially, there may be some explanations for that and need to be made aware of. Keep reading for some reasons why you can’t make more money. 

Why You Can't Make More Money

One common critique of blogs like mine is that they don't apply to people with limited means. And indeed, I do sing the praises of Porsche 911s, Ivy League schools and Prada shoes (even if I buy and hold them for 20 years).

Top 5 Ways to Spot (and Avoid) Investment Scams

In our final read of the week, we turn to Physician on FIRE with five ways to recognize investment scams and avoid them at all costs. We are all in danger of falling into the investment scam traps, so it is important to be aware of how to spot them. Continue reading for five ways to recognize these scams. 

Top 5 Ways to Spot (and Avoid) Investment Scams

Investment scams have been in the news recently, and it pains me to see honest, hard-working people forfeit their money to lousy, greedy thieves. It happens more often than it should, and it can happen to you. Don't believe it could happen to you? Congratulations!

Things We Were Up To This Week

What is a Donor Advised Fund?

A Donor Advised Fund (DAF) is like a charitable-giving savings account, helping you maximize your tax benefits while making a bigger impact on your favorite charitable causes. Illustrated below, the IRS defines a Donor Advised Fund as: "A separately identified fund or account that is maintained and operated by a section 501(c)(3) organization, which is called a sponsoring organization.

Wrap Up

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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About the Author

Aurtho Clint Haynes, CFPThis article was written by Clint Haynes, CFP®. Clint is a Certified Financial Planner® and Founder of NextGen Wealth. You can learn more about Clint by reading his full bio here.

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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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