Monday, July 26

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3 questions to ask yourself before you rage-quit your job, according to a financial planner

If, like many Americans, you're thinking of quitting your job, stop and consider your finances first. Ask yourself if you have enough savings to cover you while you look for new work. Think about what you're giving up: benefits, 401(k) contributions, and bonuses could all be factors. Read more stories from Personal Finance Insider. At some point in your career, you've probably transitioned from one job to another. A company may have offered you an opportunity that was too good to turn down, or you might have been unhappy with your current job and ready for a change. As more Americans get COVID vaccines, the push to return to the office is causing some worker...
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4 straightforward strategies a millennial used to pay off $25,000 of student loans in 10 months

After a job loss and financial emergency, Ashley Patrick was determined to get out of debt. She had $25,000 of student loans left to pay, so she and her husband took aggressive action. They paused their 401(k) savings, cut their spending way down, and carefully tracked their payoff. Read more stories on Personal Finance Insider. For many of us, student loan debt may feel like a ball and chain that we drag around for years on end.That's how Ashley Patrick felt about her $25,000 in student loans. When her husband lost his job and the couple was unable to quickly pay back a loan they'd borrowed against their 401(k) to remodel their house, they ended up owing th...
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JP Morgan Automated Investing review: Invest in customized ETF portfolios with a minimum of $500

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.JP Morgan Automated Investing offers automated portfolios with oversight from JP Morgan experts. The account has a $500 minimum, and it charges a 0.35% annual advisory fee. You can automate general investment accounts, traditional IRAs, or Roth IRAs with this platform. Click here to set up an account with JP Morgan Automated Investing. Bottom line: JP Morgan Automated Investing is best for han...
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5 ways to spend cash gifts to turn them into more money

When you buy through our links, Insider may earn an affiliate commission. Learn more.If you got married or had a birthday recently, you might be sitting on cash gifts. Financial pros say you can invest in a side hustle or buy crypto (without risking your savings). Or, keep the money in a high-yield account or pay off debt to build wealth over the long term. Compare savings account rates & offers in your area » Over the last few years, I've received a lot of cash gifts from friends and family for different celebrations in my life. I got engaged, had a couple of birthdays, and ended up eloping during the pandemic. In order to keep track of these cash gifts and...
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How to apply for an income-driven repayment plan if your student loans are crushing you

There are several reduced-payment options for those who meet income and family size requirements. An income-driven repayment plan may be a good choice if you can't handle your monthly payments. Your federal student loans are in forbearance until September 30, 2021. Read more personal finance coverage. Many Americans are still feeling financial pressure as the US rebounds from the devastating economic impact of the coronavirus pandemic, and that's especially true for anyone in the midst of paying back a student loan. If you're suddenly working reduced hours or have lost your job entirely, that previously manageable monthly payment might be looking a lot hig...
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Buying mobile home parks helped an Idaho man go from $0 in savings to a $1.8 million net worth in 6 years

In 2015, Cory Harelson had $0 in savings, $30,000 in student loans, and no financial knowledge. After reading several books about money, he decided to invest in real estate. He stumbled upon a mobile home park for sale and has since raised his net worth to $1.8 million. Read more stories from Personal Finance Insider. Cory Harelson, a structural engineer in Boise, Idaho, knew what it was like to feel trapped. In 2015, he was working anywhere from 60- to 80-hour weeks, overwhelmed with mortgage payments and bills, and balancing raising a young son. "It was like a race with no end," he says. But in just six years, he went from having $0 in savings, $30,000 in ...
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I ditched my retirement goal when a pregnancy loss showed me a more important savings priority

At the start of 2021, I planned to save $25,000 a year for retirement. That changed when I had a miscarriage. I realized I wanted to prioritize motherhood as a financial goal. Now I'm saving ambitiously for adoption or any medical needs I may have as I try to become a mom. Read more stories from Personal Finance Insider. I'm the kind of person who has trouble saving without a specific goal to keep me on track. I spent over a decade paying off $80,000 of debt, and I was able to do so in part because I had a clear goal in sight. The closer I got to being debt-free, the more frugal I became, and felt overjoyed when I reached my goal. So for 2021, I made a retir...
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Financial experts share 5 pieces of money advice everyone hates to hear

When you buy through our links, Insider may earn an affiliate commission. Learn more.Some financial advice may be a bitter pill to swallow, but that doesn't make it less essential. Financial experts told us people hate to be told to spend less, and to save earlier for retirement. Folks also hate to hear they should say no to their kids, and that timing the market is a bad idea. Compare savings account rates & offers in your area » When it comes to finances, there is some advice that is too tough a pill to swallow for some folks. Anybody can have a closed mind and closed ears, be it a high-net-worth shopaholic hiding shopping adventures from a spouse, jeopard...