August 2020 Financial Round-Up
August is often a slow trading month. As such, this post will cover items that are less trading-centric. In this edition, I'll discuss retiring early, what to do with a lump sum of cash, student loans, robots and investing, homeownership, and finally closing credit cards.
Topics
- Retiring Early
- How to Invest a Chunk of Change
- What to Do About Student Loans
- Robots, AI, and Investing
- Homeownership: A Good Investment?
- What Are Corporate Proxies? Why You Should Care?
- Should You Close Credit Cards?
Retiring Early
Image Courtesy of FinancialSamurai.com
Do you think it's possible to retire early? You may, when you read the post in this section. What you'll learn is making some changes in your life can increase your chances of success.
Retirement is about having enough money, not a function of age. Of course, you won't have access to your Social Security until you are 62 years old or older. But, if you set things up right, you won't need it.
What to Do with that Chunk of Change?
Image Courtesy of DoughRoller.net
Do you have a chunk of change that you don't know what to do with? Suppose you had $20,000 to invest, how would you go about it? I wrote a post about investing a lump sum of money. Also, I found a resource that provides more insight into the topic. More information helps when making this big decision.
In our current pandemic environment, the government is on a spending spree. You may have an opinion on whether that is good or not. However, what's more important is that you know how to take action. Increased spending is usually bad for the value of the dollar. That means reducing cash into assets that will beat inflation may be a wise move.
Types of Student Loans
In our current pandemic environment, the government is on a spending spree. You may have an opinion on whether that is good or not. However, what's more important is that you know how to take action. Increased spending is usually bad for the value of the dollar. That means reducing cash into assets that will beat inflation may be a wise move.
Image Courtesy of ThePennyHoarder.com
It will be back-to-school soon, whether virtual or on-site. If you are considering student loans for your kids, it pays to know the two main types. It's helpful to learn the difference. Many people are not aware of these options. By reading this article from Penny Hoarder, you'll be in the know. You could save a lot of money as a result.
Robots, AI, and Your Investments
We are bombarded with information about robots and artificial intelligence. It's no different from investing. More investors are using robots for their trading, which helps remove the emotions from the equation. But is it right for you?
Image Courtesy of GetRichSlowly.com
I covered this topic a few years back. The concept is still going strong and expected to grow. A recent article from Get Rich Slowly offers further insight for you to consider.
Is Owning a Home a Good Investment?
Is homeownership still a good investment? Some people believe that when you crunch the numbers, the outlook is not as rosy as you'd like. If you are considering buying a home, you may want to read this article from Money Under 30 before making that decision.
Image Courtesy of MoneyUnder30.com
Real estate agents will convince you that it's better to buy than own. However, what they fail to tell you is that it is usually much more to homeownership than a simple rent-vs-buy comparison. The trouble is, the cost of upkeep for a home is wickedly more expensive.
What Is Proxy Voting?
Do you know what a proxy vote is? It gives investors a voice in the companies they own. Yet, most people ignore whenever a vote occurs.
Corporations often control politicians via PACs and other special interest initiatives. These companies can shape legislation to rig the system in their favor, and subsequently against taxpayers. Proxy voting can help to level the playing field if more investors participate.
Should You Ever Close Credit Cards?
If you think you have too many credit cards, you may consider closing a few. However, before you take action, read about the impact of closing credit cards. It's not cut-and-dry, but it can be done, as long as you understand the consequences.
Image Courtesy of HowToMoney.com
Most consumers wonder how closing credit cards will affect your credit score. You can learn that in the post. If you had thought of closing your credit cards, you don't want to miss this post.
