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Table of Contents Key Takeaways Reinvesting profits can significantly accelerate business growth and ensure long-term sustainability. Common reinvestment strategies include expanding the business, enhancing marketing efforts, and upgrading technology. Employee development and compensation are crucial for maintaining a motivated and skilled workforce. Creating an emergency fund helps safeguard against unexpected financial challenges. Consulting financial advisors … Read more

Table of Contents Key Takeaways You need at least 40 Social Security credits to qualify for retirement benefits. Disability benefits require both a recent work test and a duration work test. Supplemental Security Income (SSI) has strict income and resource limits. Family members, including spouses and children, may also be eligible for benefits. Applying for … Read more

Table of Contents Key Takeaways Short-term investments typically offer lower risk and provide liquidity, making them ideal for goals within three years. High-yield savings accounts, money market accounts, and certificates of deposit (CDs) are popular options for short-term investments. Treasury bills and short-term bond funds offer competitive returns while ensuring safety and liquidity. Strategies such … Read more

Table of Contents Key Takeaways Current top CD rates range from 4.29% APY to 5.25% APY, with America First Credit Union offering the highest rate for a 3-month term. Short-term CDs (3-month) are best for short-term savings goals with quick access to funds. Mid-term CDs (6-month to 1-year) offer a balance between accessibility and higher … Read more

Key Takeaways The highest money market account rate for 2023 is 5.48% APY from First Internet Bank of Indiana for balances over $1 million. Brilliant Bank offers a competitive 5.35% APY on money market accounts, regardless of the balance. Most money market account rates in 2023 range between 4.00% to 5.50% APY. Money market accounts … Read more

Key Takeaways High-yield savings accounts offer interest rates up to 5% APY, significantly higher than traditional savings accounts. Top accounts typically have no monthly fees and low minimum deposit requirements. Accessible and convenient, many high-yield savings accounts are offered by online banks. Regular deposits and automatic transfers can help maximize your interest earnings. Choosing the … Read more

Key Takeaways Discretionary income is the money left after paying taxes and essential living expenses. It differs from disposable income, which is income after taxes but before essential expenses. Common uses of discretionary income include dining out, vacations, and entertainment. To calculate discretionary income, subtract taxes and essential costs from your total income. Understanding and … Read more

Table of Contents Key Takeaways Starting a side business can provide extra income and lead to financial freedom. Assess your skills and interests to choose the right side business for you. Freelancing, online e-commerce, and consulting services are top side business ideas. Initial investment and time commitment vary depending on the business type. Understanding market … Read more

Table of Contents Key Takeaways Side hustles are a powerful way to generate extra income and can even become profitable businesses. Identifying your skills and interests is crucial in choosing the right side hustle. Freelancing, e-commerce, and online selling are popular and potentially lucrative side hustle options. Investments and creating passive income streams can provide … Read more

Table of Contents Key Takeaways Identify all your assets and their values to create a comprehensive asset checklist. Set clear wealth goals that reflect your legacy and values. Understand the benefits of giving gifts during your lifetime versus after, and choose what’s best for you. Learn about tax-smart practices to minimize the tax burden for … Read more