You Don’t Need to “Save” That Much for Retirement

You don't need to save that much for retirement - if you do this one thing.

If you’re a millennial on Twitter, you might have seen this retirement-planning tweet quoted with some pretty epic snark attached to it. By the time you’re 30, aim to have 1x your annual income set aside for retirement. At 40, 3x; at 50, 6x; at 60, 8x; and by retirement, 10x. — Jean Chatzky (@JeanChatzky) November 1, 2017 It got such a reaction that it was a Twitter Moment and everything. Let’s just say, people were not pleased. And I get it—the idea of saving that much strikes a nerve for a lot of people. There are structural issues that … Read More

Dear Millennial, You Don’t Need Whole or Cash-Value Life Insurance

Wondering if you need cash-value life insurance, or whole life insurance? If you're a millennial, probably not - here's why.

I had a lovely reader email me a lovely question this week, and it made me so mad at the insurance industry. So millennials, listen up: you do not need whole life insurance. You do not need cash-value life insurance. You need term life insurance. (Maybe. If you want life insurance.) And since to most people, those all probably sound like finance gobbledegook, I am using this week’s post to (hopefully) drive a Buffy-the-Vampire-Slayer-style stake through the heart of any doubt in your mind that term life insurance is definitely the droid financial product you are looking for. So you … Read More

What Are Your Odds of Being a Winning Stock Picker?

What are your odds of being a winning stock picker? (Spoiler alert: not great)

Hey friends! I’ve got two weeks of great guest posts lined up for you while I get ready to teach a class at a local university here in Ottawa. Today’s post is from Erica at Investment Zen, and is near and freaking dear to my heart – she’s going to break down why no, you don’t need to pick stocks to be an investor, and what your likelihood of success in stock picking actually is. Please give her a warm welcome, and enjoy! The word “investing” terrifies a lot of people. Some seem to think it requires a degree in … Read More

What You Can Learn About Investing From a Guy Who Made 3089% on His Ethereum Investment (…Sort Of)

What can you learn about investing from bitcoin?

Bitcoin and Ethereum sound like total science fiction topics, but they’ve been getting a lot of attention in the finance community this week. To make a very long story very short, they’re cryptocurrencies – ways to exchange value that don’t rely on a central authority, like a bank, and that use entirely distributed systems to function. Like if a Canadian dollar was all of a sudden an internet dollar, and answered to nobody. Kind of like that. They’ve been making headlines because both currencies (Bitcoin and Ethereum) are experiencing massive growth. Case in point: “Ethereum hits another record high after … Read More

The Easiest $4,190.74 I Ever Made (And How You Can Make It, Too)

The easiest $4000 I ever made

There’s a lot of talk about making passive income online, friends, and yes, this is another article about it – but when I think about the easiest $4,190.74 I ever made, trust me when I say it was not from a blog or an infoproduct. See, I’ve been running Half Banked for almost two years now (whaaaat) and we just wrapped up the first round of the Quick Budget Fix with some amazing students. Having run a blog, and launched a product, let me tell you: Those are not actually passive income sources in any way, shape or form. But … Read More

Exactly How To Track (And Manage!) Your Side Hustle Income

How to track and manage your side hustle income

Pre-S: Some of the links in this article are affiliate links! If you have a side hustle, you need to know how to track and manage your side hustle income – because it’ll save you time, money, and so many headaches at tax time. You guys know I’m a huge fan of tracking your personal spending, because it’s legitimately the best way to get a hard look at where your money is actually going, and it’ll be insanely great at helping you manage your money. It’s no surprise that I’m also a pretty big stickler for tracking (and managing) your side … Read More