How I Doubled My Savings Doubling your savings is an achievable goal. Unfortunately, when you hit one of these articles, you’re often met with unrealistic financial advice from people trying to sell you something. Frankly, that’s not what we do at VestCred. Our team members are all fans of radical honesty and authenticity about retirement planning and personal finance. That’s why I want to give you a look into my finances. Not because I’m some guru who knows everything, but because I took realistic steps to change my habits. And if you’ve hit this post, I think what I did to double my savings ..read more

How I Doubled My Savings Doubling your savings is an achievable goal. Unfortunately, when you hit one of these articles, you’re often met with unrealistic financial advice from people trying to sell you something. Frankly, that’s not what we do at VestCred. Our team members are all fans of radical honesty and authenticity about retirement planning and personal finance. That’s why I want to give you a look into my finances. Not because I’m some guru who knows everything, but because I took realistic steps to change my habits. And if you’ve hit this post, I think what I did to double my savings ..read more

There are a lot of misconceptions when it comes to retirement savings… There’s an assumption often shared by the retirement industry that your expenses are going to go down in retirement. Unfortunately, that’s not the only assumption the retirement industry makes. There’s also the assumption that you will pay off your mortgage, so that expense disappears. And, an assumption that your taxes will be less since your income will likely be less Lastly, there’s an assumption that the amount of income required will be less because your expenses will be less. Because of all of these assumptions ..read more

The Big Takeaway   Zero percent APR loans are terrific for some, so-so for others, and bad for the rest. Go for it when it’s a good fit; run for the hills when not. When the loan payment fits your budget, and you have already decided to buy a car anyway, it’s great. Otherwise, probably not.   Just remember, a 0% APR loan is like a matador’s red flag waved in front of a bull — an attention-getter to lure you in for the “kill” (sale).   What Is A 0% APR Loan?   When you borrow money, you have to pay it all back plus something extra for the privilege of using the money. That s ..read more

At VestCred, we’re driven by a single belief that everyone, no matter your background or economic circumstances, should have the same opportunity to retire with confidence. We’ve had a lot of conversations with folks that haven’t been focusing on retirement planning for all of the wrong reasons. These are the three lies we most often hear from people when it comes to retirement planning or building retirement savings:   1 – I can’t afford to save much, so retirement planning isn’t worth doing at all.   When you’re in your 20s and 30s, it’s hard to imagine that your retirement will come one day ..read more

All retirement planning strategies should include a discussion of how taxes will impact your retirement income. This focus on ‘net retirement income’ has built increasing momentum for tax-free retirement planning. Many Americans will enter into retirement after years of a concerted effort to grow the largest retirement savings balance they can. For the last forty years, give or take, this has become known as the ‘accumulation years’. However, there’s a massive problem awaiting far too many – income taxes. During the ‘retirement years’, most retirement plans create a non-structured ‘drawdown’ p ..read more

There’s no doubt we’re in uncharted territory.  Not only has Coronavirus Covid-19 affected communities around the world, but it’s also drastically impacted the market…and likely your retirement plan savings too. Economically, this is an unusual time. With so much misinformation swirling around the web, the VestCred team wants to give you information about how Covid-19 and a looming recession could impact your retirement savings. We asked Dave, our co-founder and expert wealth advisor, a few questions that are on all of our minds right now.   What are most people being advised to do about t ..read more

When it comes to saving for retirement, most people know about 401(K)s and IRAs. After all, these are the most common retirement savings plans. However, not many people know that there is a third option: the 7702 life insurance retirement plan. The VestCred 7702 retirement plan is ideal for many people because you can avoid losses when the stock market falls, there’s no annual cap on your contribution that limits what you can save, and people use it as a college savings plan! In short, a 7702 will give you the peace of mind that an IRA or 401(K) simply cannot. At Vestcred, we want you ..read more