Endurance Financial

For most, investing is completely foreign! If you do not start saving until 45, you will need to save three times as much as if you start at 25. But it’s also never too late to start saving either because this figure keeps growing!!

For most, investing is completely foreign! When starting out, not everything goes as planned. Minor mistakes are to be expected, the goal is to avoid massive ones. Here is a list of common mistakes I want to help you avoid: #1. Putting all your eggs in one basket - never a good idea no matter how tempting the payoff. #2. Neglecting to do your research before trading. #3. Expecting to be able to time the market. Not even the most experienced Wall Street veteran can predict the market. #4. Buying simply because prices are low. This does not indicate prices will in turn rise. #5. Being duped by so-called ‘visionaries’. Understand the business you are investing in rather than the way a CEO is portraying themselves.

Many people are becoming more attracted to alternative income streams. Generating passive income requires minimal work on your part. Here are a few options: -High yield interest savings -Put your money into CDs -Use cashback reward credit cards -Sell handmade products online -Apply to participate in paid focus groups Any extra income can go straight to savings or be reinvested. Start small and you’ll see big results over time.

How much interest is your savings earning? The average is 0.01% for a basic savings account. Did you know there are high yield options available? Take a look at this article for more information: https://lnkd.in/dcU6d6kr. There are a lot of bank options with no fees offering as high as 1.60% interest. This is an easy way to give your savings a boost!

Economist Dambisa Moyo says economic growth has stalled, but we can fix it. Estate planning is too often a neglected part of financial planning. 50% or fewer Americans have a will, and even fewer have an estate plan. One major aspect of estate planning is to help your heirs pay substantially less in taxes, fees, and court costs. Estate planning goes beyond a will and is the management, distribution of assets, and legacy wishes to direct your heirs. Start by discussing the following with your financial planner: - Are there children involved? - How large is the estate, and which state is it in? - If you have any type of retirement account, such as a 401(k), 403(b), IRA, or Roth IRA, can its distribution to the beneficiaries be "stretched"?

Economist Dambisa Moyo says economic growth has stalled, but we can fix it. Check out her Ted talk: https://lnkd.in/g52EhGuR

Managing spending is first and foremost about changing your habits. Debt will drag you down, and the sooner you get a handle on spending the brighter your financial future will be. Here are a few tips to get you started: #1 Get organized. Try labeling various envelopes with different spending categories: groceries, gas, etc. On payday withdraw a set amount of money to be allocated per envelope for weekly spending. #2 Try to pay credit cards in full each month. #3 Make a shopping list and stick to it. Going to a store without a specific purchase in mind can only lead to overspending. #4 Before making any purchases out of the ordinary, sit on the idea for a day. This will give you time to consider if the purchase is really worth your money.

This one’s rather subjective. While you may end up paying out more monthly when renting, there are many hidden costs associated with owning a home. While owning may feel like a good investment for the future, there is no guarantee that the home will appreciate in value. For some, however, turning their monthly payments into equity can be a big plus to their financial profile!

Parents helping fund their children’s education by overborrowing put themselves at financial risk. They have fewer federal repayment options and don't get the income boost from the college degree they've funded. Instead, there are definitely alternative ways to help fund college education. Do you know your options?

Go in with confidence by knowing what the different designations mean to determine which is right for your financial needs… Certified Financial Planner (CFP) - the most widely recognized credential in the financial planning industry requiring rigorous certification requirements that are administered by the CFP board. Certified Public Accountant (CPA) - generally requires 150 semester hours of undergraduate level courses plus a bachelor's degree. Enrolled Agent (EA) - represents taxpayers before the Internal Revenue Service (IRS). Chartered Financial Analyst (CFA) - considered to be one of the most difficult and prestigious credentials in the financial industry, designation holders often become portfolio managers or analysts for various types of financial institutions.