7 Pieces of Financial Advice That Changed My Life Forever

Joshua is giving us the 7 best pieces of financial advice he got. 
I hope this inspires you too!


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Josh

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Top Money Market Accounts Info: What Is an MMA? What Perks Do the Best Online Banks Offer?

As soon as you can afford to start investing, one of the first things you should look into is a money market account. This is a very low-risk way to invest your cash, and there is a potential for a decent pay off, as long as you choose one of the top money market accounts with a leading online bank.

It's a good idea to put your money into one of these types of accounts instead of a regular savings account since the former comes with potentially high annual yield rates (at least 2% with online banks).

It is important not to confuse MMAs with money market funds. With an MMA account, your money will be insured against losses by the FDIC. With an MMF account, your money will not be protected. The money market funds are a type of mutual fund that invests in highly liquid instruments such as cash and cash equivalent securities. While they do come with a low level of risk, they still aren't as secure as an option as the top money market accounts.

How do you know which bank to put your money in? As mentioned above, it's best to choose an online bank with an AYP of at least 2%. Keep in mind that the APY might go down over time if you don't put a minimum amount of money in the account every month. This varies from bank to bank and is something you'll definitely want to look into.

Top Money Market Accounts Minimum Deposit

Another thing to consider is the minimum deposit, as many banks do require these. If there is a minimum requirement to open up an account, make sure you can really afford to put that amount of money in the account. If you think you might need to access some of the money throughout the month, you'll need a bank that won't charge you a penalty for doing so, just as long as you don't go over the monthly transaction limit (which is usually around 6).

Look into miscellaneous perks that some internet banks offer with their top money market accounts. These are the things that simplify online banking: 24/7 account access, top-notch customer service and tech support, online deposit options like PayPal, and 0 service or maintenance fees. The process of opening a new account and making your first deposit should be very quick and easy.

Now that you have a better understanding of what to look for in online banks and top money market accounts, you can start looking over your options. CIT Bank is definitely a great place to start as it offers all of the perks above, and only has a $100 minimum requirement for starting an account.

To get closer to financial freedom, visit George's website: https://www.financiallygenius.com/cit-bank/

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Best Rated Investment Newsletters Guide: What to Look for in Quality Stock and Investing Newsletters

If you're becoming serious about investing, then it's time to consider subscribing to a newsletter. The better ones aren't for free, because the advice they offer is very, very useful and valuable. Pricing structures and availability all vary as well. The best rated investment newsletters tend to be the ones that are offered by established companies with quality reputations.

One important thing to look for is a newsletter that implements a strategy with a "buy-and-hold" investment style, and a high percentage of average return performance with its picks. If the return performance percentage is over 100%, the better the quality of the information and analysis.

Not only should you be provided with new stock recommendations every month, you should also be provided with an in-depth analysis about WHY each of those stocks is recommended. Even if you make the decision not to invest in those particular stocks, you will at least be better educated about how the stock market works and which indicators to look for when evaluating any stock or other investment opportunity.

If stocks aren't your thing, then look for the best rated investment newsletters that allow subscribers to decide which specific type of investment they wish to receive information about. The price might vary depending if you want to subscribe specifically to a stock newsletter, "rule breakers" kind of newsletter, comprehensive retirement guidance, and so forth.

Why Subscribe to the Best Rated Investment Newsletters?

Why subscribe to a newsletter in the first place where there are so many "free resources" and "tools" available on the internet? Because when it comes down to it, you really can't trust everything you read for free. Even if some of the information is legitimate, how confident are you in your ability to weed out the worthless stuff from the useful? And do you really think the top, knowledgeable experts in the world are going to spend their time evaluating and analyzing investment opportunities and the stock market for free?

This doesn't mean that you have to spend a whole lot of money for a subscription to a quality newsletter. Sometimes you can find coupons or internet discounts to bring the price down.

You get a lot more than just an analysis on stock picks. Depending on which subscription you choose, you can receive "model portfolios" with examples and guidance, community resources, and many other great features and perks.

Of all of the best rated investment newsletters, the one that gets recommended the most is The Motley Fool. Discounts are available to help you save on whichever specific newsletter you are interested in, whether it's "Rule Your Retirement", "Rule Breakers", "Market Pass", "Stock Advisor" or one of the many others.

To get closer to financial freedom, visit George's website: https://www.financiallygenius.com/motley-fool/

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