financial literacy

How to Build Wealth, Inflation, Roth IRA, and Permanent Life Insurance

Financial Literacy Lesson 18 – How to Build Wealth, Inflation, Roth IRA, and Permanent Life Insurance

Financial Education Course – Step #5, How to Build Wealth This is going to be the last post of this Financial Literacy course. You’ve made it this far. So, let’s finish this out STRONG! Here are some ideas: Passive income streams (i.e. real estate, renting out rooms as Airbnb) Investments in the markets (i.e. mutual …

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Financial Literacy Lesson 16 – How much Emergency Fund Should I Have?

Financial Education Course – Step #3 (Cont.) Emergency Fund We’re on the third step finally! We talked about emergency funds in the previous post, but to recap, it’s basically a small fund to take care of you if something unexpected happens, like if you get laid off. I’m writing this in the middle of the …

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what's included with a permanent life insurance policy

Financial Literacy Lesson 14 – What’s Included With a Permanent Life Insurance Policy?

In the last post we talked about term life insurance, today we’ll talk about permanent life insurance policy. Here are the similarities and differences between permanent life insurance vs term: The similarities is that both permanent life insurance and term offers a death benefit. The differences is that for permanent life insurance… It’s kept for …

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temporary life insurance

Financial Literacy Lesson 13 – Temporary Life Insurance

What is temporary life insurance? Temporary life insurance is protection for a specific period of time. We’re talking 10, 20, or 30 years. It’s the most affordable because it provides a death benefit. Term insurance, a form of temporary life insurance, expires after a certain term (i.e. 10, 20, 30 years) that’s why it’s called …

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life insurance questions

Financial Literacy Lesson 12 – Life Insurance Questions

Life Insurance First Questions – Rule of Thumb Your life insurance should cover 10X your annual family income If your annual household income is $100,000, that means you need $1 million death benefit. If your annual household income is $50,000 that means you need $500,000 death benefit. Life Insurance Questions – Second Rule of Thumb …

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rule of 72

Financial Literacy Lesson 8 – Why Not to Save Money And Rule of 72 Formula

In the last post, we left you with the question… What’s the current interest rate on a savings account? It’s 0.09%. Don’t believe me? Let me google that for you. What do the Banks do with your cash? Well, we established that they give you 0.09% interest, which is nothing. However, they take the cash …

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trustfund and inheritance

Financial Literacy Lesson 7 – What Are Trust Funds? What’s Inheritance?

How to Retire Your Child Example 1 For the parents or Soon-To-Be Parents Here’s your scenario: Your UNGRATEFUL kid’s retirement. You’re going to invest $13K at birth at 6.5% interest rate compounded monthly UNTIL Retirement Age at 67. Running through those numbers with our calculator (which you can get here), we end up with the …

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How to Grow Your Money Through Investments

Financial Literacy Lesson 6 – How to Grow Your Money Through Investments

Compound Interest vs Simple Interest Examples In the last post, we geeked out and learned how to calculate compound interest with contributions, which Is the most accurate and useful way of calculating compound interest because most of us will be contributing on intervals (i.e. once every month). We calculated simple interest and compound interest and …

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Financial Literacy Lesson 5 – Compound Interest with Contributions

Today we’re playing with my compound interest contribution calculator that I made myself, you can’t find it anywhere else, which is why you should subscribe to our newsletter because you get this calculator for FREE with subscription. Please check out our last video of how we calculate compound interest for principle. It will give you …

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Financial Literacy Lesson 2 – How do YOU Learn About Financial Literacy?

Today, we’re going to talk about “How did YOU learn about Financial Literacy?” Because I think it’s important for YOU to know where I learned it if you’re getting some tips. Financial Literacy Lesson #1 – Emergency Fund Before we get started on anything else for today. I want to ask you to ask yourself, …

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Financial Literacy Lesson 1 – Introduction, Emergency Fund, and Subscriptions

This will be a 21 part series! So you’ll be getting A LOT OF EDUCATION and by the end of it you’ll be more financially literate and prepared than the rest of the population! Financial Literacy Introduction Welcome to Financial Literacy – the Ultimate Starter Guide. We’ll be talking about “How Money Works” because if …

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