whatchu talkin bout willis

Don’t Invest In Yourself Until You’re Debt Free

I’m a bit of a social media junkie.  That is to say, my Twitter feed is more alive and buzzing than a bee hive.  My Twitter feed is completely devoted to personal finance so that I can keep on top of new developments within the industry and bring you the latest information possible.

I also have one off people in my stream primarily devoted to entrepreneurship because, as you know, I believe that a small business can be the key to financial success.  Anyway, one such individual who I follow is Mark Cuban.  For those of you unfamiliar, Mark is an American businessman and investor who owns the Dallas Mavericks and a host of small companies.  He also appears on the show Shark Tank as a shark investor.

The other day I bumped into this tweet from Mark Cuban that I felt the need to talk about. […]

Growing My Dough: 6 Months In

I love these update posts.  Six months ago I joined a challenge created by Jeff Rose of Good Financial Cents along with with like-minded personal finance writers who wanted to see how a $1,000 investment would pay off at the end of the year.  The goals were pretty simple:clint eastwood

  1. Show you how easy it is to get started investing
  2. Show you the plethora of online options available
  3. Show you different strategies that you can try
  4. Erase any doubts that you can’t do this on your own.

Pretty much all of the challengers decided to invest in the stock market.  A few others had some non-traditional investment options such as peer-to-peer lending in their portfolio.  I decided to split investment with 25% into peer-to-peer lending, 25% into the stock market and 50% into a small business.  Let’s see how I’m doing.  First, the disclaimer. […]

woman and money- Dough Challenge

Grow Your Own Dough Challenge 2 Months In

Way back at the beginning of the year I hopped into a friendly little wager among personal finance people to see who would have the highest value portfolio at the end of the year. Now that we’re passed two months, it’s time to see how my investments are doing.

First, let’s recap a little. Unlike most of the challenge participants, I am not relying on stock for the bulk of my wealth building in this challenge. I split my $1,000 initial investment into peer-to-peer lending (25%), stock investing (25%) and my own little side business (50%). I’m going to go in order of returns.

Share Builder

I managed to transfer $250 into the account aaaaand nothing. I haven’t touched it at all. I don’t even remember the password. There is some serious work to be done in this area.  Here’s the problem, I have never been able to invest in stock outside of my 401(k) because I traditionally worked for investment banks. I hated jumping through hoops to get permission to invest, so I never bothered.  Now that I can do it, I am so not used to the freedom that it’s a bit daunting. This is a mental hurdle to get over. But, I did earn 7 cents in interest. Hey, it’s something.

 

Share Builder Result

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growing money - investment

The $1,000 Investment Throwdown

Happy 2014!  While everyone is busy looking backwards I’m looking forward and I’m looking forward to doing things differently.  This year I have joined the Grow Your Dough Throwdown by Jeff Rose at Good Financial Cents.

What Jeff and a bunch of other personal finance bloggers are doing is investing $1,000 various ways.  The goal is for each blogger to report back monthly on how their portfolio is doing and I guess whoever ends up with the most money at the end of the year gets serious bragging rights. While they’re mostly investing in the stock market, and honestly, who wouldn’t since the markets returned something like 30% last year, I’m going to be a little unorthodox. […]

investing Overseas

Investing Overseas Is Not Just for the Rich

Remember back in the early days of the internet when a message arrived in your e-mail inbox telling you the story of a rich foreign prince who wanted to claim his wealth but needed your help to do so?  Remember how excited you were initially, thinking that all you had to do to help secure a fortune was send a relatively small amount of money somewhere that you had never been?  Remember how disappointed you were when you finally realized that it was yet another scam?

Investing overseas can seem just as scary as responding to an e-mail from a deposed prince, but it does not have to be.  For years we have heard of the super-rich keeping money in Swiss banks or investing in tiny island nations to boost their income or reduce their taxes.  Many of us have erroneously thought that those options were only open to people with enough money to hire a team of investment advisors and attorneys to do this for us, but the internet has made investing internationally relatively easy.

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Three Years of Peer-to-Peer Lending Results With Prosper

For the past two years I have reviewed the returns of my lending account on the peer-to-peer lending website, Prosper.com. This is year three of those reviews.

First, be aware that I am no longer adding money to my Prosper.com account. As the loans that I have helped to fund are paid off I will withdraw the money. I have chosen to forgo investing in Prosper because of major glitches that I encountered earlier this year that really made me rethink investing specifically through Prosper. I have opened an account with Lending Club and may switch to that company in the future. […]

term life insurance

Think You Don’t Need Life Insurance? 5 Reasons You Do

You may have health insurance, homeowner’s insurance and car insurance, but when it comes to life insurance, you may drop the ball. I’m amazed by the number of people who think they don’t need a life insurance policy, or feel that they have all the time in the world to purchase coverage. Maybe a part of them doesn’t want to think about death, or perhaps they truly don’t understand the benefits.

There is no denying the value of having coverage. Even if you don’t know much about this type of insurance, the best term life insurance companies are available to guide you – so stop making excuses. You need a policy more than you think.  […]

Why You Should Invest and Not Pay Off Your Mortgage Early

5 Ways to Invest Your Money

Are you currently in a position to invest? Congratulations! This is a very exciting time for you and I’m sure you have plenty of questions! The first of which might be, “How much do I invest?” For starters, you want to be sure that you have enough cash on hand to cater to an emergency. For most, this is an amount close to $10,000. If you have extra money besides that, I would strongly suggest that you invest it. But in what? Let me give you some options. […]