Osom for you

03/12/2021

High-Yield Savings Account
savings account

Are you looking for a safe place to put your money? Look no further!

With a high-yield savings account, nearly all deposits come guaranteed as Federal Deposit Insurance Corporation (FDIC) insured bank accounts, providing up to $250,000 in coverage in the event of bank failure or insolvency.

In other words, your cash stays safe even if the financial institution doesn’t while continuing to generate interest income on your savings account deposit.

High-yield savings accounts allow depositors to earn interest income while lessening the worry of inflation eating away their hard earned cash.

Deposits into these types of savings accounts may start out small but grow over time due to increased amounts being added every month. This should give you something positive to motivate you going forward.

But you can also grow your balance by having interest earnings from holding your deposits in savings accounts.

Historically, interest rates vary from 3% – 5%, but recent interest rate activity has put rates at depressed levels.

Some high-yield savings accounts offer tiers of interest rates depending on how much you deposit and how long you hold your money with the bank.

Some banks like CIT Bank allow you to open your savings account with as little as $100.

While savings accounts can generate good interest payments that outpace inflation historically, they might not yield as much as you’d like right now.

With time, these rates should rise and pay you more in high-yield savings accounts.

If nothing else, earning anything on your cash is better than leaving it in a zero-interest savings account or just as cash in hand.

This gives money in the savings account a chance to keep up with inflation and not lose value as quickly.

02/12/2021

Understand the benefits. DSPPs allow you to take advantage of Dollar-Cost Averaging (DCA), which is the strategy of investing with a fixed dollar amount each month regardless of the stock price. Some months the stock price will be high, and others it will be low. However, over time, the average stock price will go down. This reduces the risk of investing a large amount of money at the wrong time.[1] You are using the same strategy if you are investing in a 401(k) or a 403(b).
With DCA, the dollar amount remains the same each month, but the number of shares purchased varies because of fluctuations in the price. This strategy allows investors to ignore the short-term market and invest in companies over the long-term. It works because the market historically has shown strong returns over the long-term.

01/12/2021

Traditional IRA: Pros and cons
Pros
You may be able to enjoy a tax deduction now: The biggest upside to contributing to a traditional IRA comes at tax time. Depending on your income, you may be able to deduct your contributions on your taxes each year to lower your annual earnings and reduce your financial obligation to the government.
You can delay your tax bill on your earnings: While that money grows, you won’t need to worry about paying taxes on it in the interim. That will happen when you begin making withdrawals in retirement, and you’ll only pay taxes on money that has not been taxed before: Any contributions that you were able to deduct from previous tax filings, along with investment earnings.
Cons
You’ll pay taxes down the road: You may have enjoyed the tax benefits at a younger age, but that perk doesn’t last forever. You’ll pay the tax man on the back end, which means those withdrawals will be split between you and the government.
You’re required to withdraw the money: You might not be sure of what you’ll be doing at age 72, but one thing is for certain with a traditional IRA: You’ll have to start taking some money out. You’ll begin making required minimum withdrawals at this point. That minimum amount is determined by an IRS formula that includes the current value of your account and your life expectancy.
You’ll probably pay penalties for early access: If you withdraw money early, those funds will be considered in your annual taxable income, and you’ll likely pay an additional 10 percent penalty. There are some exceptions to the rule — using the funds to cover medical bills, unemployment hardship or a down payment on a first home, for example — but you would want to use these funds as a last resort anyway.

30/11/2021

Affiliate marketing
With affiliate marketing, website owners, social media “influencers” or bloggers promote a third party’s product by including a link to the product on their site or social media account. Amazon might be the best-known affiliate partner, but eBay, Awin and ShareASale are among the larger names, too. And Instagram and TikTok have become huge platforms for those looking to grow a following and promote products.

You could also consider growing an email list to draw attention to your blog or otherwise direct people to products and services that they might want.

Opportunity: When a visitor clicks on the link and makes a purchase from the third-party affiliate, the site owner earns a commission. The commission might range from 3 to 7 percent, so it will likely take significant traffic to your site to generate serious income. But if you can grow your following or have a more lucrative niche (such as software, financial services or fitness), you may be able to make some serious coin.

Affiliate marketing is considered passive because, in theory, you can earn money just by adding a link to your site or social media account. In reality, you won’t earn anything if you can’t attract readers to your site to click on the link and buy something.

Risk: If you’re just starting out, you’ll have to take time to create content and build traffic. It can take significant time to build a following, and you’ll have to find the right formula for attracting that audience, a process that itself might take a while. Worse, once you’ve spent all that energy, your audience may be apt to flee to the next popular influencer, trend or social media platform.

25/11/2021

Try the cookie jar approach

Saving money and investing it are closely connected. In order to invest money, you first have to save some up. That will take a lot less time than you think, and you can do it in very small steps.

If you’ve never been a saver, you can start by putting away just $10 per week. That may not seem like a lot, but over the course of a year, it comes to over $500.

Try putting $10 into an envelope, shoebox, a small safe, or even that legendary bank of first resort, the cookie jar. Though this may sound silly, it’s often a necessary first step. Get yourself into the habit of living on a little bit less than you earn, and stash the savings away in a safe place.

The electronic equivalent of the cookie jar is the online savings account; it’s separate from your checking account. The money can be withdrawn in two business days if you need it, but it’s not linked to your debit card. Then when the stash is large enough, you can take it out and move it into some actual investment vehicles.

24/11/2021

When should you start investing?
Before we dive into some good investments for beginners let's talk about when you should start investing. Investing strategies typically involve a long-term timeline. With that, the best time to start investing is as soon as possible. The sooner you are able to start investing, the more time you’ll have to allow your investments to grow.

Generally, you will use these investments to fund your retirement. So it is a good idea to start as soon as you can. You’ll want to give your investments plenty of time to build your wealth.

Investing is an extremely important part of your financial journey. However, there are a few things that you should tackle before you start investing. Let’s take a closer look.

22/11/2021

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing. Financial literacy is the foundation of your relationship with money, and it is a lifelong journey of learning.

16/11/2021

"The most successful people are those who do what they love."
Warren Buffett.

15/11/2021

Let's define what it means to invest.

Investing is investing your money so that it generates income in the future.

12/11/2021

What is investment?

In simple words, this is the process of saving and increasing money by investing in various assets that can generate income. As they say, money must work, and its main property is that money can make money.

11/11/2021

Why invest?

Receive passive income
Save up for a large purchase
Ensure a comfortable life in retirement

10/11/2021

What is the investment for?
What is investment?
In simple words, this is the process of saving and increasing money by investing in various assets that can generate income. As they say, money must work, and its main property is that money can make money.

09/11/2021

Sometimes you just want to sit and do nothing, and so that the money itself drips into the wallet. Fortunately, it does. The closest option to such a development of events is investment. This is a great way to ensure your passive income and financial independence.

08/11/2021

What is the investment for?

The investor invests money with the aim of making a profit on the invested funds.

The joint-stock company places its shares on the stock exchange, becoming the so-called. a public company. The issuer receives investment through the sale of its shares to investors.

New shareholders acquire securities confirming the right to receive dividends and "own" a piece of companies. In fact, they become a co-owner of the business.

06/11/2021

Why invest?

Investments help you save up for training, travel, a new car, a house in Spain, a pension and anything else. The sooner you start investing, the faster you will reach your financial goal.

You can invest not only in order to get income. Competent investments in different currencies can protect you from what exactly is going to be a crisis in your country. If in such a situation you have cash, you will lose it. And if savings, for example, in shares of foreign companies, then you are more protected, since you have invested in the economy of another country.

06/11/2021

How to start investing?

To start investing, you don't need to have several thousand dollars at once. Everything is much simpler - you can start with a few hundred and gradually increase your investment.

Better to start right now. Every day in investments is money, and it is unwise to lose it. If you start now, then in 10-20 years you will have accumulated capital, which you can use as you see fit. For example, buying a motorhome, traveling and living on interest. Or send my son to study in England. When there is money, many opportunities open up. And it's better to use them earlier than never.

05/11/2021

In simple terms, investments are investments of funds that are aimed at making a profit from them in the near future.

26/10/2021

Best investments for beginners
1. High-yield savings accounts
This can be one of the simplest ways to boost the return on your money above what you’re earning in a typical checking account. High-yield savings accounts, which are often opened through an online bank, tend to pay higher interest on average than standard savings accounts while still giving customers regular access to their money.

This can be a great place to park money you’re saving for a purchase in the next couple years or just holding in case of an emergency.

2. Certificates of deposit (CDs)
CDs are another way to earn additional interest on your savings, but they will tie up your money for longer than a high-yield savings account. You can purchase a CD for different time periods such as six months, one year or even five years, but you typically can’t access the money before the CD matures without paying a penalty.

These are considered extremely safe and if you purchase one through a federally insured bank, you’re covered up to $250,000 per depositor, per ownership category.

24/10/2021

Factor in charges
Charges will have an impact on your overall returns, so it’s important to take these into consideration when choosing your investments. For example, if buying funds, the Ongoing Charges Figure (OCF) is set out on the KIID/KID and provides the clearest picture of your actual costs. This figure includes the fund’s Annual Management Charge, and also the other main ongoing costs that were deducted from the fund the previous year. When you place a purchase instruction we will also present to you other costs of the fund which the manager does not include in the OCF. You should consider these costs carefully - for example, if a fund returns 4% and the OCF and other charges have previously come to 2%, your profit would have reduced to 2%.

21/10/2021

21/10/2021

How the Department for Trade and Investment helps

Whether you’re a South Australian company with plans to expand and need investment support, or an investor looking for a business opportunity, we can work with you to provide vital connections, advice, support and guidance.

We provide investor information, along with business and investment-ready opportunities, insights into South Australia’s key economic growth sectors, vital contacts and all you need to know about investing in South Australia.