Dear “Ready to Transform Your Finances”, So, you have decided that you are ready to up your personal finances game. You saved an extra $100 last month, and you are ready to invest it. You’ve been looking at brokerage firms, like Fidelity and Robinhood. You are ready to take the plunge. But, hold on a […]
Author: Rich Mom
What Is An Emergency Fund? Rich Mom Answers
Dear “Just Starting Out in Financial Literacy”, I hope that you are doing very well, both mentally and physically. So, I have been hearing and reading about that many people don’t have an emergency fund. In fact, according to “The Ascent” (a Motley Fool publication), 50% of Americans have under $500 in emergency funds. That […]
Rich Automatically
Dear “Young and Wanting to Be Rich”, I hope that you are feeling well, both mentally and physically. A recent conversation with one of your peers or near peers has brought into my recent thoughts that there is a high likelihood that you would like to be rich. Well, the good news is that you […]
Do You Have an Investment Portfolio?
Hello Friends and Family! I hope that you are doing well today. I just finished taking a walk and I am feeling well. While I was on my walk, I was thinking about one of my favorite friends and I was thinking about things that I like about her. One of the things that I […]
What Is An Investment Portfolio? Rich Mom Answers
Dear “Wondering About Investing”, Have you ever wondered, “What is an investment portfolio?” Perhaps you think it is something that only millionaires and billionaires have. Perhaps you think that you will never be able to have one. Or, perhaps you have never even heard of an investment portfolio. Well, you definitely need to be aware […]
Interested in Earning More Interest? Try a Kasasa Account!
Hello Wealth Building Family Member! Since I have been writing about earning interest on your money recently, I have been getting questions about where else people can earn higher interest. One answer is to try a Kasasa accounts! When I first opened an account at a local bank near me, someone had mentioned a Kasasa […]
Income Annuity: A Passive Income That Can Be Purchased
Dear Young Financial Knowledge Grower, If you have been reading my past messages, you know that I am a big advocate for creating passive income streams. One form of passive income is an annuity. There are several types of annuities. Today, I am going to explain one type of annuity called an income annuity. First, […]
What is the Difference Between Credit Cards and Debit Cards?
Dear Early Financial Enthusiast, Have you ever wondered, “What is the difference between credit cards and debit cards?” That is the question of the day. But, before I get started, I want to say “Thank you for reading this. By doing so, you are helping me with my goal of sharing financial literacy. So, I […]
A Small Passive Income is Better Than No Passive Income
Dear Young Income Earner, I am an advocate for passive income. But, when I mentioned this to someone recently, the person asked, “What passive income can I get to pay my bills? My response was that one usually has to build up to that much passive income. The person responded to me by saying that […]
What Is the Difference Between a Roth IRA and a Traditional IRA?
Dear Young and Focused, I was recently at the library asking the librarian about some financial literacy books. After I was done, someone walked up to me and asked me if I knew if any of the books that I was discussing particularly good. He said that he was thinking about reading up on IRAs […]