Heres a good question for the new year: Is 2023 a good time to invest in stocks?
In turbulent times like these, its hard to know the right financial moves to make.
A lot of the tried-and-true advice weve always relied on doesnt seem relevant anymore.
Is now a good time to invest?
Should I focus on paying off debt?
Its helpful to consult with a pro.
Here are six financial questions weve been getting from readers lately:
1.
Hartills advice: Take the long view.
No Interest Til Almost 2027?
The cost of waiting for the perfect time to invest is high.
Youre missing out on long-term growth.
Profitable investing is all about taking the long view.
Not sure how to get started?
With an app calledStash, it’s possible for you to get started with as little as $1.
- It lets you choose from hundreds of stocks and funds to build your own investment portfolio.
It makes it simple by breaking them down into categories based on your personal goals.
Were still in a recession, but the stock market has recovered.
But true investing isnt about making a quick buck.
Its about growing your money over time.
She recommends budgeting a certain amount of money to invest each month, no matter what.
Did you know?
Subscription plans start at $1 a month.
**
2.
Theres Only So Much Fat you might Cut
Question: My monthly expenses keep going up.
Anything I can do?
Theres only so much fat you could cut from your budget.
Eventually, you start chipping away at muscle and bone, Hartill said.
Whens the last time you checked prices?
You should shop around your options every six months or so.
Take a couple of minutes toanswer some questionsabout yourself and your driving record.
With this information, EverQuote will be able to give you the top recommendations for car insurance.
In just a few minutes, you could save up to $610 a year.
If You Have Your Spending in Check…
Question: My budget is tight.
What debt should I focus on paying off?
The only way to get out of debt is by spending less than you earn, Hartill said.
But if you have your spending in check, a debt-consolidation loan can help you shed your debt faster.
She added a caveat: This option only makes sense if it lowers your interest payments.
It takes just a few minutes to see if that could work for you.
A website calledMoneyLioncan match you with a low-interest loan.
It wont make you stand in line or call a bank.
And if youre worried you wont qualify, its free tocheck online.
It takes just two minutes, and it could save you thousands of dollars.
Most of Us Dont Earn Enough
Question: How can I possibly earn enough to ever retire?
Ouch, that hurts.
The Only Practical Way to Give Your Family Security
Question: I have a family.
How can I confirm theyre protected in these uncertain times?
Your life insurance needs are greatest when you have young children.
Fortunately, this is often a time when youre still young enough that life insurance is relatively inexpensive.
We hear people are paying as little as $10 a month.
- (But every year you wait, this gets more expensive.)
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
He is not a certified financial planner, but he has stayed in a Holiday Inn Express.
*For Securities priced over $1,000, purchase of fractional shares starts at $0.05.
Bestow Life Insurance products may not be available in all states.
Policy limitations or restrictions may apply.
Not available in New York.
Our software asks lifestyle and health questions to determine eligibility to get to avoid requiring a medical exam.
Rates will vary based on underwriting review.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
