article thumbnail

5 Retirement Hacks Everyone Should Leverage in 2024

The Motley Fool

Making a budget is a powerful hack that will give you visibility into where your money goes and accountability when money goes to places it shouldn't. Consider automating deposits into your investment accounts and setting up auto-pay for bills you can budget. You might want to rethink that equation.

article thumbnail

How to Leverage the Gig Economy to Grow Your Small Business

The Motley Fool

The problem with billing by the hour is that it limits how big your business (and bank account balance) can grow. Lots of small businesses do the same -- plumbing outfits, law firms, dentists, you name it. There are only so many hours in a day and you only have two hands.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

3 Accounts You Should Set Up For Your Kids at Birth

The Motley Fool

By opening these accounts for your kids early on, you're not just saving for their financial future , but potentially unlocking the door to millionaire status. So, let's dive into the types of accounts that can make a huge difference. It's an incredible way to leverage compound interest from a young age.

article thumbnail

1 ETF I Wouldn't Touch With a 10-Foot Pole

The Motley Fool

They're very much like mutual funds, often encompassing a big bunch of securities and charging an expense ratio (fee), yet they trade like stocks, allowing you to buy or sell any time the market is open, from your brokerage account. What's a leveraged ETF? Leverage can greatly amplify your gains and your losses.

article thumbnail

Over 50? 3 Millionaire Moves to Make in 2024

The Motley Fool

You can also add other tax-advantaged accounts to your retirement portfolio to help you reach the million-dollar mark. Open an individual retirement account Contributing to your company's retirement plan is a great way to beef up your retirement savings, but you shouldn't stop there.

article thumbnail

2 Ultra-High-Yield Stocks to Buy Hand Over Fist in May

The Motley Fool

According to data from PitchBook, banks accounted for 70% of the middle market direct lending market in 1994. Today, they account for just 25% of the market. BDCs tend to use leverage to help boost their payouts. While this leverage can help juice returns, it could also exacerbate losses during an economic downturn.

article thumbnail

How to Earn Over $500 a Month in Passive Income

The Motley Fool

Aside from inheriting a fortune or becoming a mattress tester, passive income is your ticket to padding your savings account without the daily grind. For instance, if your store achieves $5,000 in monthly sales, you could net $750 to $1,000 in profit, boosting your checking account balance nicely.