RFM Group

Investing is important for retirement, building wealth, and beating the corrosive effects of inflation. TikTok, YouTube, Google, and family gatherings are packed with advice on how to invest. Advice givers recommend everything from day trading to Certificates of Deposit, as well as IRAs, 401Ks, brokerage accounts, annuities, 403Bs, the Dow Jones Industrial, penny stocks, interest; it can be overwhelming.

DIY projects can be a great way to save money, but how much? Often, we as workers use our hourly rate times number of hours to value time. This is partially correct, but taxes are regularly neglected. We must pay taxes; it is a certainty of life. Depending on your income tax rate, social security, medicare, and sales tax the hidden cost could be 20% - 50% higher than the sticker price. Put differently, when I earn $100 at work the government(s) get 20-50% and I am left with less purchasing power.

Beauty is in the eye of the beholder and when it comes to personal finance, sinking funds are beautiful. This straightforward tool will allow you to plan for future expenses and have the money to pay for them. If you have ever created a budget but got lost with items that are not paid on a monthly basis, then a sinking fund can help you close the gap.