Why Your Screen Is Full of Amazon Prime Day Advice
If this email was forwarded to you, click here to sign up.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Want to Get Rich? Mark Cuban Says To Save '6 Months Of Income' — Here's How Some Homeowners Are Using Real Estate To Make It Happen
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Mark Cuban didn't get rich clipping coupons or stockpiling airline miles. His advice? Keep your junker car, avoid credit cards like the plague, and save up six months of income — not because it sounds good in a finance blog, but because life happens. "If you don't like your job at some point or you get fired or you have to move or something goes wrong," Cuban said in a Vanity Fair video, "you're going to need at least six months' income." But for many Americans, that kind of cash cushion feels more like a pipe dream than a practical step. In fact, most adults in the U.S. don't even have $1,000 saved, according to a Bankrate survey. Still, Cuban's "get rich advice" isn't just for aspiring billionaires — it's a survival-level strategy in a shaky economy. Don't Miss: Accredited Investors: Grab Pre-IPO Shares of the AI Company Powering Hasbro, Sephora & MGM— 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Cash is King — But Where Do You Find It? Even people who've been steadily employed for years often feel "house rich, cash poor." They've got equity tied up in their homes but little flexibility when an emergency hits. That's where some are getting creative — unlocking liquidity from real estate without selling their homes or taking on new debt. Enter platforms like EquityMultiple, which offer a modern way to put money to work through passive commercial real estate investing. These platforms allow investors to earn cash flow from real estate without becoming landlords — while still keeping their own home intact and their equity untouched. Think of it as making your money multitask: while your primary residence appreciates quietly in the background, your real estate investments can generate monthly income and diversify your savings. Trending: $100k+ in investable assets? – no cost, no obligation. Toothpaste and Tenants — Cuban's All About ROI Cuban's approach to building wealth might involve investing in mutual funds or even tossing a little into Bitcoin — if you're feeling bold — but the underlying theme is always the same: maximize return, minimize regret. "It's so hard to make a return on regular investments... you're better off, when you see a sale, [buying in bulk]," he said in the same Vanity Fair video. "That's an immediate return on your money." That logic — stretching your dollars with purpose — is why more investors are shifting toward income-generating alternatives like real estate-backed offerings. Instead of letting money sit in savings accounts losing value to inflation, they're deploying it in vetted property deals that pay out on a regular basis.A Modern Path To The Six-Month Safety Net Most people aren't hitting Cuban's six-month cash goal overnight. But that doesn't mean it's out of reach. It just requires some strategy — and maybe a shift in how you think about savings. Start small: rework your budget, look for dead weight in subscriptions, and automate deposits to a high-yield savings account. Then, once you've got your emergency fund foundation set, diversifying into passive real estate could help build the next layer — with monthly income that can go right back into your cash cushion or be reinvested for growth. Because, as Cuban says, "the one thing you can control in life is your effort." And putting your money in the right place? That counts, too. Read Next: With Point, you can Image: Shutterstock This article Want to Get Rich? Mark Cuban Says To Save '6 Months Of Income' — Here's How Some Homeowners Are Using Real Estate To Make It Happen originally appeared on Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Want To Instantly Grow Your Net Worth? Move Your Money Into These Types of Accounts
High inflation has taught Americans smarter ways to save. As a result, many people are growing their wealth more quickly, even when the cost of living remains high. Doing so doesn't require learning complex investing techniques or even having big chunks of money. It's all about where you put your savings. A recent JPMorganChase Institute analysis found that savvy consumers are thinking beyond the traditional savings account. Here's what they're doing to boost their net worth without requiring risky investments, and how you can too. Find Out: Read Next: Why Your Bank Account Isn't Cutting It While getting into a savings mindset is great, if you're only using traditional savings and checking accounts that have no or low annual percentage yields (APY) then you are literally leaving earnings behind. Worse, you're not keeping up with inflation, either, which can range between 2% and 4% in normal economic times (and during the early days of the COVID-19 pandemic, hit a high of around 8%). Instead, take advantage of better growth with the following accounts. Money Market Accounts — Flexible and High-Yield On the surface, a money market account looks and acts like a checking account — you put money in, and you can take it out, via checks or debit cards. Where they're different is that they often come with a higher APY than a regular checking account (many checking accounts don't earn interest at all). For example, an account with a 4% APY on a balance of, say, $10,000, is netting you an additional $450 per year. These accounts may also have limits such as a restricted number of withdrawals, a minimum balance and minimum deposit amounts, but most likely you'll be happy watching your money earn interest, so you won't mind keeping more of it in there at a time. These accounts are typically held by banks, which are FDIC insured. Learn More: Certificates of Deposit (CDs) — Best for Lock-In Growth Next up are certificates of deposit (CDs). These financial products are especially good when interest rates are high and you don't need immediate access to your money. When you put money into a CD, you 'lock in' that money for a set time period, often between a few months up to one to two years maximum. You really want to be sure that you don't need that money before that time is up, however, because you'll typically pay an early withdrawal penalty if you do take the money out, defeating the whole purpose of trying to grow it. It's good to invest in a CD if the rate they offer is better than what you can get in a more liquid account, or if you want to put money somewhere that you can just forget about it so it grows without the temptation to spend it. Brokerage Accounts — Passive Growth With Market Access A brokerage account is a step beyond mere savings. This is an account where you put money you intend to invest. From here you can transfer money in and out to buy and sell securities, or you can just hold the money until you decide what to do with it. Here, the money you put in benefits from compounding interest, which is to say that not only do you earn interest on the money you put in, but you continue to earn interest on that interest growth, as well. There are different kinds of brokerage accounts: Individual brokerage accounts, in a single individual's name only Joint brokerage accounts, with two or more names, where assets are shared between owners Retirement brokerage accounts, such as a 401(k) or Roth IRA, where your money grows on a tax-deferred basis or tax-free until withdrawal; you don't typically take this money out until retirement High-Yield Online Savings — Easy Win for Risk-Free Growth The simplest type of savings account to grow your money is a high-yield savings account. This functions just like a typical savings account, but often has a significantly higher APY. It's best to pick ones that are insured by the FDIC and that don't charge fees. There are plenty of different banks offering these kinds of savings, so it shouldn't be hard to find one that works for you. How To Choose the Right Account Mix If you're not sure how to choose the right accounts for you, remember some basic principles of saving: Save more. Saving as much as possible is always a good idea, from emergency funds to retirement or educational accounts. Experts recommend that saving between 10% and 20% of your income is a good goal. Tax smart. Save your money in tax-smart ways. Talk to a financial advisor if you're not sure. Stay liquid. Assess your liquidity needs — don't tie up money you need. Diversify. Don't put all your funds in the same place. Diversification is important to growth. Set goals. Set savings goals. Research shows that it's easier to save when you're saving toward a goal. Talking with a financial advisor can help you determine these goals. Remember that you don't have to make big, dramatic moves to grow your wealth. Even small moves from one account to another can have a big impact on your net worth over time. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 10 Genius Things Warren Buffett Says To Do With Your Money Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on Want To Instantly Grow Your Net Worth? Move Your Money Into These Types of Accounts
Yahoo
2 hours ago
- Yahoo
Senior Discounts and 4 Other Ways Boomers Can Cash in
During working years, it may seem like retirement will be a time of relaxation and reduced spending. But according to Fidelity, most retirees can expect to spend 55 to 80% of their annual income while working each year in retirement. Check Out: Learn More: If you're already retired, or at least reached the age of 50, there are many discounts and other ways to save a good amount of money. Keep in mind you may need to ask for discounts in order to take advantage of them. Restaurant Offerings Perhaps one of the best everyday perks of being a senior is enjoying your favorite restaurant meals for less. Plenty of places offer a senior discount — and some even have special menus for those over a certain age. In fact, if you don't see these things, it may be smart to ask about them. Local eateries that aren't part of national chains may have special senior discounts that aren't widely advertised. For You: Healthcare Options When it comes to discounts and other ways to save money as a senior, perhaps one of the most important is on health care and medications. According to My Care Finders, a lot of pharmacies give seniors discounts on prescriptions and wellness items. Walgreens and CVS are among the places to ask about such discounts. Inexpensive Entertainment Amazon does offer a pretty good discount on Prime membership for those relying on some government assistance programs. In addition, you can check to see if your local theaters have senior discounts or special days with lower prices for those over a certain age. If you're a fan of amusement or theme parks, they generally offer pretty big discounts on tickets for seniors. Further, according to AARP, you may be able to save some serious money with discount rates from major cruise lines. Also, look for discounts on Greyhound bus travel and through some airlines. Cheaper Clothing Check out the senior discounts and days available at some popular clothing stores. Your local Kohls, Ross and Goodwill stores are among the places to look for cheaper clothing. Discount days may also be good opportunities for socializing with other seniors. More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Senior Discounts and 4 Other Ways Boomers Can Cash in
