Tag: financial planning
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Get rich quick schemes | The most common scams that will prevent you from becoming wealthy
Get rich schemes are designed to separate you from your money. In this episode, AJ covers a variety of methods used to make you believe you can be rich quickly. They pray on people drive to be wealthy and take everything they can from you. AJ goes over the lottery, multi-level marketing, fake Gurus/influencers and…
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Highway to Retirement. Do not miss this overpowered tax cheat code! Roth IRA
If you are only going to read one of the articles here at The Wealthy Idiots (ha, not possible!), this is the one you must read! You’ve probably heard people mention a Roth IRA and that’s because it’s the gold standard of retirement tools. The Roth IRA is the whole shebang. It is easy to…
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Stay the course; don’t let soundbites and talking heads curb your personal finance strategy
One thing you’ll quickly realize in your personal finance journey, is that everyone has an opinion on the matter. Well, I guess everyone has an opinion on everything, even if they state “no opinion”. Nonetheless, people are very vocal about personal finance. You can probably compare “my investment guy is the best, you should talk…
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This one factor makes compound interest crazy powerful | See how much $1,000 can become!
It’s important to invest your money into something that will beat inflation and ultimately make you wealthy! In this episode, AJ covers a variety of investment options, explains inflation and demonstrates the power of COMPOUND INTEREST over time. He uses the https://wealthyidiots.com website to show COMPOUND INTEREST over time. Check it out and see for…
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Your bank might not “be there for you” during these difficult times – always know your banking fees!
I was one of those kids that was born into a “set-in-stone” family banking relationship. Both my parents had accounts with the same large bank, so once I was old enough for a bank account of my own, this made the choice simple for me and my parents. By using the same bank it was…
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Save thousands with a low mortgage rate
In today’s climate, it is easier than ever to secure a historically low mortgage rate. With thousands of lenders to choose from, borrowers have more choices than ever. This allows better rate shopping, varying lender credits, and sometimes waivers for appraisal and other items based on your current situation.
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Don’t Miss Out on Massive Savings with these Tax Secrets – Contribution Limits for 2021
Each year, the IRS specifies contribution limits for retirement accounts. These limits, based on inflation data from the year prior, determine how much a person (and their company in some instances) can contribute to a given plan. Below, we’ll quickly go over the limits for the common retirement accounts.