Greetings Worthies, here's the news you need to know this week. Reading time is 3:03 minutes.
STOCK MARKET’S WORST DAY IN HISTORY
If your portfolio includes stocks, you are probably on the edge this week, following a 1,100 point decline of the Dow Jones on Monday, the worst single-day point decline in its history.
Not liking this stock market volatility? It’s time to take action. Diversifying your portfolio with bonds can provide you peace of mind and minimize the exposure to risk that comes with investing in the stock market. With Worthy bonds, you know exactly what you are getting - a fixed 5% return annually that gets credited daily to your account.
Great news! Worthy Bonds are now available for purchase in Florida, New Jersey, Nevada and the previously available 41 states. START HERE
YOU STILL HAVE TIME TO SAVE
What's going on? Parents know they need to save more for their children’s education. But parents also need to pay off credit card debt, save for retirement, have an emergency fund, pay for daycare, and buy groceries, health insurance, and new school supplies. The fact is, most parents feel financially squeezed.
Why is it worthy of your attention? So you didn’t start saving when your kid was in diapers, and now they face an expensive college education. Don’t panic. Check out this helpful write up by our partner, Centsai with tips on alternative ways of saving money for your child’s education to avoid having them drown in student debt. READ HERE
What's going on?
A new research from Merrill Edge shows that Millennials tend to save upward of 50% of their paycheck, but would not invest their savings. When asked what they can rely on most in 20 years, 66% of millennials named savings account as the cornerstone of their financial futures.
Why is it worthy of your attention? Still keeping your money in a savings account and earning no interest? Are trust and transparency a big part of that reason? This approach can cost you a pretty penny. Let's do some simple math:
Contributing 10% of your $50,000 paycheck annually at a 5% return for 20 years will add up to the following:
End Balance: $178,596.26
Starting Amount: $5,000.00
Total Contributions: $100,000.00 (over 20 years)
Total Interest: $73,596.26
Invest your money conservatively to make it work for you.
CHECK IN WITH YOUR BANK
What's going on? Just over a month after enacting a sweeping corporate tax cut from which Bank of America stands to gain billions of dollars, the bank is set to start charging its poorest customers $12 a month for the privilege of having a checking account.
Why is it worthy of your attention? Don’t let your hard-earned dollars go to waste. To reduce or eliminate those pesky bank fees, here are a few things you can do:
1. Set up a monthly $250 direct deposit for your core checking account.
2. Keep at least $1,500 on your account at all times.
3. Call your bank to know your options.
4. Switch to a better account. Check out this article by NerdWallet for the list of best free checking accounts of 2018. SEE LIST
"Don't be afraid to give up the good to go for the great."
– John D. Rockefeller
Worthy Peer Capital is not a bank, Worthy Bonds are not FDIC insured, not bank guaranteed, and not a bank deposit account. This communication is not an offer to sell nor a solicitation of an offer to buy securities. See Offering Statement and related SEC Filing Documents.