If you choose to pay off your debt first, you will lose the power of compound interest on the investments. If you have too much debt, and yout debt to income ratio is more than 30%, your credit score is going to hurt.
Pay back loans with the highest interest rates first. Focus on paying off one loan at a time. Meanwhile. continue to invest in mutual funds. Even just $50 a month, the ROI can be impressive over the long run.
FXCM just lowered their spreads. Euro 0.2. JPY o.3. Maybe soon, we’ll see 0 spread.
Buying a crash or correction slowly. Averaging your buying power evenly. Buying a crash is wonderful. If you can be in cash for that tumble you are smiling all the way to the bank for the next year or two.
You’ve probably heard of dollar-cost averaging, a strategy of investing a set amount in the market at regular intervals. Consider a market-correction twist: Invest periodically, but use decline thresholds instead of time intervals to determine when. For example, you might put a set amount into stock funds in your 401k after every 5% dip.
Could Nomura be right this time? Euro 1.20?
The easiest way to lower your taxes is to boost your retirement savings. You can contribute to up to $17,500 to your 401(k) or similar retirement savings plan in 2014 Money contributed to the plan is not included in your taxable income.
If you don’t have a retirement plan at work, you can fund an IRA for yourself. You can contribute up to $5,500 ($6,500 if you are 50 or older by the end of the year).
Participate in a medical reimbursement account. These plans let you set aside pre-tax dollars to pay medical bills. You avoid both income and Social Security tax on the money, and that can save you 20% to 35% or more.
While tax planning isn’t anyone’s idea of fun, it doesn’t have to be long, difficult or painful. In the amount of time it would take to find out if the family on “House Hunters” is going to pick the perfect home or compromise for the obviously inferior property …read more