Jay Zigmont's Blog, page 7

What is a High Yield Savings Account?

A savings account is an extremely common type of bank account, and it's a great place to keep cash you need easy access to (such as your emergency fund). You can add or withdraw money from a savings account any time, which isn't the case for every type of bank account. But you have options when it comes to choosing one. Let's take a look at high-yield savings accounts and learn what differentiates them from a standard savings account.

Childfree Wealth Podcast Ep. 47: Book Club - The Psychology of Money

One of the primary takeaways is the hidden indicator of true wealth is freedom and flexibility. Managing your finances isn’t just about the numbers; it’s about what you can do with your money that truly matters. You’ll be reminded that while you won’t always be rational with money, it’s okay to instead focus on being reasonable. As part of this you’ll need to determine when enough is enough & come up with a way to manage your finances that lets you sleep at night.

I Have Stock Options, What Should I Do?

If you get a new job, you may be offered stock options when you are hired. But what are employee stock options, and what impact will they have on your finances?

Childfree Wealth Podcast Ep. 46: Unpacking Money Guilt

Dr. Jay kicks off the conversation by discussing his upbringing and the notion of the "rent and ramen" phase, where you just have enough to cover your basic needs. However, even when you've achieved financial success, breaking free from the constant work ethic can be a daunting task. Bri, on the other hand, shares her journey from growing up with financial security to developing money guilt despite her privilege.

What Employee Benefits Should I Take?

New jobs come with all sorts of perks that you can opt into (and pay for, in many cases – but your employer often subsidizes a large part of the cost). For benefits like insurance, you can generally sign up when you start your job, and your coverage will begin after a waiting period, sometimes of 30 to 60 days, or on the first day of the following month after you're hired. Here's a closer look at some of the benefits you can expect to be offered as a new employee, and whether they're worth payin...

How Does Property & Casualty Insurance Work?

Two common types of insurance coverage are property and casualty. If you own (or rent) a home and a car, you've got these types of insurance. Here's more information about how they work and what to know when buying coverage.

Childfree Wealth Podcast Ep. 44: Investment Fees - Do You Know What You're Paying?

In this episode, Bri & Dr. Jay discuss investment fees. Bri's passionate reaction to these fees will resonate with anyone who's felt taken advantage of. Dr. Jay breaks down the shocking numbers and reveals the hidden costs that could be eating away at your wealth. Get ready for a reality check on fees and discover how you can take control of your financial future.

Do I Need Disability Insurance?

If you're Childfree, it's unlikely that you'll need life insurance, but that doesn't mean you're off the hook when it comes to insurance beyond your health, your home, and your car. In fact, disability insurance is of special concern for Childfree people. Here's how disability insurance works and the circumstances under which you might need a policy.

Childfree Wealth Podcast Ep. 43: Book Club - The Little Book of Common Sense Investing

Bogle, the creator of Vanguard revolutionized the investing landscape with the creation of index funds. Using index funds, investors can embrace a simple, low cost way of managing & growing their wealth. Listen as Bri & Dr. Jay breakdown key concepts like asset allocation, fees, & discuss the generational differences of investing using active & passive methods. Dr. Jay even challenges traditional wisdom when it comes to investing for those who plan to die with zero.

Do I Need Life Insurance?

It's perhaps one of the most basic personal finance questions out there: Do you need life insurance? If you're Childfree, the answer may surprise you. Let's take a look at how life insurance works and see why it's generally unnecessary for Childfree people.