BOTEFinance

401k and IRA Alphabet Soup

Despite the tricky names, this topic can actually be simple. Let’s start with an easy breakdown of the two main retirement account types. 401k – This is a retirement account that you set up through work. You can only put money into a 401k account through payroll deductions (taken out of your paycheck before youContinue reading “401k and IRA Alphabet Soup”

I Am Moving. Should I Sell My House or Rent It Out?

So, despite my best efforts, there is still some complexity within a lot of the financial decisions discussed in this blog. However, this one is one of the easier choices to explain. The math is simple and is truly Back of The Envelope. First, a few assumptions… 1 – You need to be able toContinue reading “I Am Moving. Should I Sell My House or Rent It Out?”

The Market? I’ve Heard of it.

“I want to invest in the market but I don’t know if I should start with an index fund or the S&P 500.” What in the world did this person just say? And does it make sense? Want the answers to these questions? Keep reading. Some of the terms in finance can be intimidating. IContinue reading “The Market? I’ve Heard of it.”

Compound Interest and the Rule of 72

Every $1,000 you save today could be worth $64,000 at retirement. Although I’m certainly not immune to typos, the previous sentence doesn’t have any. I double checked. You have likely heard of compound interest before. The general idea is this: you earn interest on your previous years interest; so each year, you progressively earn moreContinue reading “Compound Interest and the Rule of 72”