Stocks and bonds aren't your only investment options. Invest like Harvard's endowment fund or Princeton's endowment fund. You can and should diversify away from stocks and bonds. You can do this through professionally "Managed Accounts" for commodities, currencies (forex), futures, and options without having to be a trader yourself.
Can I borrow from my retirement savings to buy real estate?
Can you borrow from an IRA, 401(k) or Roth IRA to invest in a rental property or a business? — Bob H.
It can be tempting to borrow money from your retirement funds, but it's usually not a good idea, warns Frank deNapoli, senior vice president at Winslow, Evans & Crocker in Peabody, Mass. "You're shortchanging your retirement," he says.
I am 31 years old and contribute more than enough to my 401(k) to obtain the company match. I also max out my contribution to a Roth IRA every year. I would like to contribute to a Roth 401(k), but my company does not offer this plan. Can you help me understand the benefits of a Roth 401(k)? Also, do you have any recommendations on selling my company on making a Roth 401(k) option available? — Justin
Regular savings is one of the surest ways to increase your net worth.
This is part of a special report on 101+ ways to build wealth. In this story, readers and experts weigh in with advice for significantly boosting your savings.
Stick to a budget for just a month. A Canadian study found that people who stuck to a budget had higher net worth than those who didn't have one or had one they didn't follow.
5 Ways to Increase Your Net Worth with Employee Benefits
These are some great, simple tips that I have been touting for years. Why not take the low hanging fruit? JP is the author of the money blog My Family Finances and has some great tips. Enjoy!
When you get your offer letter from a prospective employer, what do you do? You find the salary number, wave the paper triumphantly in the air, and completely miss many of the other potential financial benefits contained in an employer's benefits package.
How much money will you need for retirement? This a very difficult question to answer. There are many factors and assumptions that go into estimating the income that will be needed in retirement. However, one certainty is that if you only invest in fixed income instruments, you will need more than if your investments provide you a growing income.
At one time or another, we all have thought, ‘If only knew this when I was younger.’ I purchased my first dividend stock for income in 2003. Like many newly converted income investors, I was chasing yield. I quickly built a portfolio consisting of Real Estate Investment Trusts (REITs), Master Limited Partnerships (MLPs) and high yield, high risk stocks.
For many investors, there is no clear conviction as to how they should invest. Today’s investments are guided by what was read yesterday, and the popular media is constantly churning out new and different ideas. Granted, it makes for some “interesting” reads, but it certainty is no way to run a portfolio.