“Hey Dad, do you know how much money you’ve earned over your lifetime?”
Find out how much money you have earned over your lifetime, according to the Social Security Administration. Know what to expect when you decide to start taking social security.
“Hey Dad, can I become a millionaire working at my job?
This blog identifies the steps necessary to become a 401k millionaire. It stresses the importance of knowing what you’re invested in and continuing to invest regardless of what’s going on in the market. “Time in the market beats timing the market”.
“Hey Dad, do banks have more than one savings account option?”
Know what the Annual Percentage Yield (APY) is on your accounts. Verify that you are getting the highest possible APY that you can get at your bank. Don’t settle for a low APY on your savings account. Be willing to move your money for better returns, if you have to.
“Hey Dad, my friend wants to know is their money safe in a Credit Union?”
Savings accounts at Credit Unions are safe as long as they have National Credit Union Administration (NCUA) insurance. The blog demonstrates that like FDIC, NCUA covers accounts up to $250,000 per depositor.
“Hey Dad, how many money accounts should I have?”
It is important to diversify the types of financial accounts that you have, as they serve different purposes. The minimum number of accounts you should have is 4. See on this blog the 4 accounts you need and the additional accounts that you should probably have too.