What Is Dollar Cost Averaging and Should You Be Doing It
Dollar cost averaging (DCA) is the practice of investing a fixed amount of money at regular intervals — every month, every paycheck — regardless of … Read more
Written by: HRM
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Money Explained
Plain-English explanations of financial concepts, products, and how money actually works.
What Is a 529 Plan and How Does It Work
A 529 plan is a tax-advantaged savings account designed specifically for education expenses. It grows tax-free and withdrawals for qualified expenses are completely tax-free — … Read more
Written by: HRM
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What Is the Best Way to Invest $1,000
The best way to invest $1,000 depends on one thing above all others: what comes before it in the financial priority order. A $1,000 investment … Read more
Written by: HRM
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What Is a Fiduciary and Why It Matters for Your Money
The word fiduciary appears regularly in financial planning contexts and is one of the most practically important distinctions available for people seeking financial advice. A … Read more
Written by: HRM
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What Is a Roth Conversion and Who Should Do One
A Roth conversion is the process of moving money from a traditional IRA or 401k — where it has not yet been taxed — into … Read more
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What Is a Credit Score and How Is It Calculated
A credit score is a three-digit number — typically between 300 and 850 — that summarises the information in your credit report into a single … Read more
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What Is the 50/30/20 Budget Rule and Does It Work
The 50/30/20 budget rule — allocate 50 percent of after-tax income to needs, 30 percent to wants, and 20 percent to savings and debt — … Read more
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What Is the Stock Market and How Does It Really Work
The stock market is a mechanism through which buyers and sellers exchange ownership stakes in public companies. It is simultaneously one of the most powerful … Read more
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What Is a HYSA and Why Everyone Should Have One
A high-yield savings account (HYSA) is a savings account that pays significantly more interest than a traditional bank savings account — typically 4 to 5 … Read more
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What Is an IRA and Which Type Is Right for You
An Individual Retirement Account (IRA) is a tax-advantaged investment account that allows anyone with earned income to save for retirement outside of an employer-sponsored plan. … Read more
Written by: HRM
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