An Investomom recognizes that, although they don’t offer interest rates, savings accounts are still viable. They still serve as the insured resting place for emergency funds. Most financial institutions offer electronic banking systems that can turn your bank account into a wealth building strategy. Investomoms make it automatic by opening an online investment account and […]
The number one thing stopping most people from investing isn’t how much money they have – you can save for retirement with just a dollar a day – it’s that they don’t feel confident. Don’t let all the financial jargon stop you from embracing the best wealth building tool: Compound Interest. Investing has never been […]
Brad Dugdale, author of Munny Journey, talks about investing in savings accounts for your child.
Millennials are looking at a vastly different retirement than their parents are, or possibly no retirement at all. Life expectancies are growing 30% a decade…..living until 100 will become common for this generation. Different from their parents millennials have delayed many life priorities (jobs, marriage, home purchase, savings, 401(k). Millennials are less financially literate […]
The best way to teach kids to save is to already have a savings or investment account established. When parents or grandparents dedicate funds for a child it establishes rules, purpose and special meaning. Joining the child’s additional savings on top of the established account creates a family joint venture for the child. Adding to […]
Starting a savings account for a child is a life changing event. Not only do they have an advantage using compound interest, but recent study from the University of Kansas found that kids that have savings and investment accounts had 20 times more money than kids that didn’t. Children with savings accounts/investment accounts were four […]