Arrest Your Debt

The 457b is really just the slightly different sibling of the 401k. It is a tax-advantaged retirement account that is used by employees of local and state governments to save for retirement. There are also some tax-exempt organizations that also are permitted to utilize 457b plans. As a similar benefit, federal government employees have access to a Thrift Savings Plan (TSP) rather than a 457b. The 457b is also commonly referred to as a deferred compensation plan or deferred comp plan. So how does this plan work, and what are the advantages and disadvantages of contributing to this type of plan? The 457b plan does offer several benefits to government workers, such as tax-deferred growth of their savings, but these plans do come with a few drawbacks. Keep reading to see precisely how this plan works and what to be aware of as you plan for your retirement. What Is The Purpose Of The 457b And How Does It Work? A 457b plan works very similarly to a 401k. You can think of the 457b pl...

Believe it or not, companies are eager to  earn your business  and are willing to send you free samples by mail in hopes of establishing you as a client. However, there are many time-wasting scams out there that will end up costing you money with the lure of a “free sample.” This guide will provide you with the best places and companies to contact to get free product samples – without any strings attached. Costco is no longer the only goto for free food samples. You can get all types of free baby formula and product coupons online with minimal effort. If you love to receive free samples as much as I do, keep reading! Avoid testing new products by putting them on your  credit card . Instead, leverage the power of marketing and free product testing to save you serious cash. Get Companies To Send You Free Samples by Mail There are several techniques you can use to get a company’s attention if you want to stand out from the crowd. Free Samples by Mail via Snail Mail ...

It would be an understatement to say 2020 has been a turbulent year. The health of the economy and stock market is no exception. We have seen wild swings in the stock market from the lows in March to the rebound levels we are experiencing so far in June. Retirement – Is It Even Possible? It has truly been a mental test for many people to stay invested in the stock market during this time. There has been a lot of money made and a lot of money lost. As always, this shows the importance of having a sound financial plan and sticking to the plan no matter what happens. Having a well-developed financial plan can take emotional decision making out of the investment process and let logical decision making prevail. Logic, strategy, and perseverance will win in the long run. We will discuss some options to help you properly prepare for your future with a long-term approach. Simply put I will teach you how to weather any financial storm because you can bet there will probably be another o...

It can be tricky to start a new business in this competitive world, but the rewards are well worth it. At the onset, you have a lot to deal with and think about – from simple administrative jobs to more complex decision-making. Managing your finances is a crucial step to make sure your entrepreneurial endeavor is successful. Here are the top 8 suggestions for new small business owners to manage their finances in a way that maximizes their chances of success.  1. Rely On Your Bank  The way you set up your banking is actually very important when it’s time to organize your finances. Will Thompson, a finance blogger at Academized and Thesis Writing , tells entrepreneurs to “make sure you’re set up to track your spending for any length of time, and that you have the right accounts for your needs.” Will continues, “Talk to your banking advisors for information on applying for small business loans, retirement savings plans , and financial tracking throughout the year.”  ...

There was some good news out of the May (2020) jobs report about how many new jobs were added despite the dismal outlooks during the previous two months. The good news is that confidence may be returning to the markets and investment opportunities looking good for consumers. However, people are still leary about where they should put their investments. There are some stocks you could find to be great investments, but others may not be as good as the hype indicates. Cannabis Stock In The Aftermath Of COVID-19 It’s becoming more and more likely that cannabis will be legalized in more states once all is said and done after the COVID-19 pandemic. Part of this reasoning is that in certain states, where it’s legal, local governments have deemed cannabis and CBD businesses essential . Various industry experts have compared the current situation with the repeal of the Prohibition Act during the onslaught of the Great Depression, and how the government then recognized the tax benefits o...

If you have bad credit and find yourself in a pinch, you might think that you can’t get a loan. While it is more challenging to get a loan with bad credit and even harder to get a good rate, you have options. Here is everything you need to know about what loans you can get with bad credit and how to get them. What is a Credit Score? Credit scores are a number between 300 and 850 that reflect your likelihood to repay a loan based on your credit history. Your credit history is a mix of how much you have borrowed in the past, how many loans you’ve taken you, and if you’ve paid your loans back regularly. The higher your score, the more likely a lender thinks you are to repay a loan. In general, a score over 700 is considered a ‘good’ score. The generally accepted credit rangers are: Excellent  – 800 to 850 Very good  – 740 to 799 Good  – 670-799 Fair  – 580 to 669 Poor  – 300 to 579 How Bad Scores Affect Borrowing Banks and other lenders do not want...

Retail arbitrage is not a new concept, but it has evolved into a massive industry due to lucrative deals available on the Internet. Using retail arbitrage, you can make money selling retail items that were once limited only to large retailers and businesses. This is a complete guide to retail arbitrage business, which contains essential tips for sellers on how to find retail items, how to sell these items, and use the Amazon seller app to fine-tune their sales. Why Retail Arbitrage? If you were ever involved in a retail business, you already know that doing business and selling stuff is not easy. Due to the dwindling profit margins, opening a retail store on a busy street does not guarantee success. The traditional retail model means you can sell unique items, but there isn’t much profit left at the end of the day. Considering stores and retail businesses have to pay huge rents, salaries, and bills, the retail business model has its limitations, and opening a storefront is not pr...

Investment Advisor vs. Broker A statement I hear somewhat regularly is, “oh, I have a financial advisor ” or “I have an investment guy.” However, what you may have is just a stock or mutual fund broker who is selling you different securities. In reality, he or she may not be advising you on anything and may only be selling you something for a commission. We will take a look and examine the difference between a financial professional who is a broker and one who is an investment advisor/fiduciary. You will then be able to determine if your “advisor” is working for you or themselves.  While the two jobs may seem quite similar to someone who does not work in the financial world, investment advisors and brokers perform vastly different roles in the financial services field. We are going to look at some of the similarities and differences between the investment advisor (also commonly called the financial advisor) and the broker. Be sure that you educate yourself on the differenc...

If you have been struggling with bad credit and you need a loan, there are certain types of loans with guaranteed approval guidelines. This post will show you the ins and outs of loans with bad credit and how to get your finances back on track! Are There Any Guaranteed Loans For Bad Credit? Although there is no such thing as a 100 percent guarantee, there are companies offering loans for consumers with poor credit. “Bad credit loans” are the closest you can come to a guaranteed loan. Credit requirements are much more flexible when you apply for a loan to a lender specializing in bad credit. Even if you have a low credit score, lousy credit history, or have defaulted on loans in the past, you may still be approved. Depending on whether you make your payments on time, you can also help restore your credit. Even Bad Credit Loans Can Help Improve Credit Scores Every time you make a payment, bad credit lenders will report to a minimum of one of the national credit bureaus. If you pay...