What are ETFs? ETFs or exchange-traded funds are funds managed by investment companies and banks like Vanguard, Charles Schwab, Chase Bank, Bank of America, Sofi, and etc. These funds are comprised of the shares of many companies and are collected in one large investment pool. Some of the more famous and well-known ones are the…
What are stocks? Stocks are a form of investment where you an investor has partial ownership in a company that they buy stocks of. Stocks can be offered by a wide number of companies both big and small. They are offered by big companies like Walmart, Amazon, Google, Apple, Microsoft, and etc. They are also…
What are dividends? Dividends are a type of investment strategy where people will buy stock, ETFs, bonds, etc. and the seller of the shares of these investments will decide on and pay out a certain percentage of interest compared to the price the shares were bought for. These dividend payouts can be paid to the…
What are traditional 401ks? There are two different types of 401ks. There is the traditional and the Roth 401k. They are both classified as tax-deferred accounts. The money you invest in traditional 401ks is typically money that comes out of your regular paycheck before you pay the usual federal, state, and FICA taxes. This means…
What is Sofi? Sofi is an online bank that is very oriented towards the social and financial well-being of its customers. They started off as a lending institution that was mainly focused on student loans to help students getting the best rates they could if they were going to get loans for their higher education….
Video from Greenlight’s Vimeo channel What is Greenlight Debit Card? Greenlight Debit Card is the best banking and investing app to teach your kids finances! Greenlight is a debit card for kids, managed by parents. But it’s so much more than that. Their tools give parents superpowers, with more flexible controls than any other debit…
What are traditional IRAs? Traditional IRAs are individual retirement accounts offered by investment brokerages in the US. The money you invest in traditional IRAs is typically money that you contribute with after-tax money, and then you have the option to deduct these contributions from your total taxes for the year if your itemized deductions are…
Worthy Bonds – How to Earn Stable 5% Interest on Bond Investments! In a world of completely abysmal savings account earnings rates, where you are lucky to get 0.25% interest on your money in savings accounts nowadays, Worthy Bonds is a breath of fresh air. 5% Interest bonds Worthy Bonds is a type of online…
What are FSAs? FSA accounts are a type of investment are used to help pay for healthcare-based expenses, similar to HSAs. Unlike HSAs, they are employer-sponsored plans meaning you can’t open one on your own. In that way, they are more comparable to 401ks, which are also employer-sponsored accounts. The equivalent to the IRA would…
What is an HSA? HSAs are tax-deferred accounts that are meant to be used specifically for health-related expenses from co-pays to surgeries and more. It’s available to taxpayers in the United States who are enrolled in a high-deductible health plan. Unfortunately, there are some restrictions on who would be eligible for HSAs. Those not eligible…
