We’ve scoured the internet so that you don’t have to. Consider this our monthly roundup of relevant articles to support your pursuit of prosperity.
Three Ways Parents Can Transfer Wealth to Help Their Kids
We are in the midst of a great wealth transfer. Baby Boomers who have built their wealth are now looking to help their children get a head start financially. As the next generation begins to accumulate wealth of their own, financial and wealth planning solutions and strategies also need to evolve.
‘House-Rich’ Americans Are Sitting on Nearly $30 Trillion in Home Equity. Here’s How To Tap It
Thanks to skyrocketing housing prices, homeowners are now sitting on nearly $30 trillion in home equity, according to the St. Louis Federal Reserve — just shy of the 2022 peak. That’s roughly $200,000 cash per homeowner in equity that can be tapped, which is the amount most lenders will allow you to take out while still leaving 20% equity in the home as a cushion.
5 Important Financial Goals for Teens
Developing smart financial habits is not second nature. It takes time and practice to reach financial security, and the sooner you start, the better. To increase your chances of becoming a financially literate adult, starting to make smart money decisions as a teenager is crucial. For most teens, the stakes are lower — you aren’t risking losing a home or ruining your credit score — allowing you the space to learn how to manage your finances with less to lose. Still, as you start making your own money or looking toward leaving home, you’ll need to know what to do with the money you earn.
Is Passive Income Really Passive – Uncovering the Truth
Some sources of passive income even promise the dream of earning money while you sleep, taking you close to your financial freedom. However, establishing reliable channels to earn passive income requires strategic planning and active involvement.