Ametrine Wealth

If you’re using a credit card to cover unforeseen costs, do so carefully. “Using credit cards should definitely be more of a last resort, and I encourage everyone to have an emergency fund on hand,” Adams says. “Of course, that’s not always possible.” https://lnkd.in/gsgFHrzR

If you want to build wealth, it’s important to understand the difference between short-term and long-term savings. Both are really important to having a healthy financial journey. Short term savings is key to make sure you’re not having to take on debt to go on a vacation or to cover an unexpected expense. But if all you’re doing is saving for the short term and your monthly savings all eventually get spent, then you’re never going to build wealth, and probably won’t be able to ever retire. That’s why long term savings is also key! #personalfinanceforwomen #personalfinance #shorttermsavings #longtermsavings #savingforretirement

The 3 things you need for a happy retirement: WEALTH HEALTH COMMUNITY What can YOU do today to set yourself up to have these 3 things in retirement? #happyretirement #personalfinanceforwomen #savingforretirement

More personal finance and investment articles to SKIP! #personalfinance #investing #personalfinancearticles #dontbothereadingthese

Avoid these 2 401k mistakes with your contribution rate! 1. You should be contributing at least 10% of your pay. HOWEVER, most companies auto enroll employees into the plan with a contribution rate of less than 10%, so if you didn’t actively change your contribution rate then you’re probably not contributing enough. 2. BUT if you are a high earner and make over $230K/ yr, you may actually want to LOWER your contribution rate to maximize your company match. If you make over $230k and contribute 10% or more then you will max out your 401k prior to your final paycheck which could mean missing out on employer matching contributions if you employer matches based on contributions per pay period rather than an annual basis. (Also note that you of course still need to be saving at least 10% of your pay so you will have to do so outside of your 401k plan) #401kplans #savingforretirement #matchingcontributions #401ksavings #highearners #employeebenefits

“Investing in the stock market may seem incredibly risky — and it can be if you’re investing in individual stocks — but if you invest in broad index funds, you can expect an average return rate of about 10% per year,” Adams said. “Short-term market fluctuations can be huge at times; but, for long-term savings, the risk you take on will pay off and your money will double roughly every seven years if you’re invested in an all-equity portfolio.” https://lnkd.in/grdNqjgZ

Are you paying your financial advisor too much? Things to consider: 1. Be sure to understand and include ALL fees you are paying in addition to any monthly/quarterly/yearly advisor fees. Understand fund expense ratios you’re paying plus and commissions, loads, performance fees etc, if applicable. 2. Keep in mind that different advisors provide different services. So an advisor who just manages your investments and doesn’t do any financial planning or strategizing IMO should not be getting paid the same as an advisor who DOES provide those services…though many investment managers do 🤦🏻♀️ #financialadvisors #advisorfees #investmentfees #financialplanning

“People are often intimidated to do something different than what other people are doing out there,” she says. “But if you do the same thing as what other people are doing, then you're not going to stand out.” “Be clear on what you do, who you work with, who you don't work with, and focus on what your long-term decision is,” she added. https://lnkd.in/g2Ypjdbn

Understanding your spending is SO key to living a healthy financial life. And I’m not just talking about your typical monthly spending or your “basic” living expenses (though these are a great starting point) - but understanding your ACTUAL annual spending, taking into account vacations, home and car repairs and all the other miscellaneous expenses that pop up throughout the year. #personalfinance #spending #cashflow #financialplanning #retirementplanning

Investing in hedge funds may sound very fancy and alluring, but I’m not a fan. Watch why! #hedgefunds #hedgefundinvesting #investmemtstrategies #investinindexfunds