Author Archive admin

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

auto credit v1

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

auto traffic exchange

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

best free website traffic generator

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.
free traffic exchange

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.

Best Way To Make Money Online 2020 – Work from residence with digital Marketing

Be your own Boss and live life on your terms.Would you like to learn how to supplement or even oust your income with a digital business? Subscribe to the free seminar: […]

Read More …

Read more: etrafficlane.com

Everyone Wants Credit Card Rewards. But What Do They Really Cost You?

Kelly Fedynich of Morristown, New Jersey, loves to travel.

The teacher, 28, had used a rewards credit card before. She had even accumulated enough points to visit Iceland and fly to Florida for a wedding.

Then in February 2018, she signed up for the Chase Sapphire Preferred credit card after seeing it recommended repeatedly by travel deal blogs. She switched to Chase hoping to get better flight rewards.

Signing up for the card, which had a $12,000 limit, came with a boost: If Fedynich spent $3,000 in the first three months of using the card, she would get a bonus of 50,000 points.

She spent $3,000 and got the bonus, but it’s still costing her.

“I was deliberately overspending,” she said. She would talk herself into buying, justifying purchases based on their values in points.

“I wasn’t following any of my budget plans, just [so I could] meet that money requirement,” she said.

When her teaching income stopped over the summer, she took money out of savings to pay her credit card bill.

“It was the first time I wasn’t able to pay my credit card statement in full,” she said.

The High Costs of Credit Rewards

Fedynich is just one consumer enticed by the promise of rewards for shopping with a credit card, only to find themselves overspending — and in debt.

Among the highly visible bloggers who play the system to travel for free or close to it are plenty of everyday success stories. It’s true there are free flights, hotel upgrades and more to be gained. But it takes strategy and planning to make credit card reward programs work. 

If you’re thinking of getting a rewards credit card, ask yourself these five questions first.

Rewards cards have skyrocketed in popularity in just a few years. A study by research firm Mercator Advisory Group cited by the Wall Street Journal (subscription required) estimates that 92% of all U.S. credit card purchase volume is made on rewards credit cards, up from 67% in 2008.

A 2018 NerdWallet survey of 2,000 adults found that more than two-thirds of respondents said they had a credit card that earned travel rewards. One-third of cardholders surveyed said they often overspend to earn rewards.

Rewards credit cards offer various benefits for spending money on your card. Cash-back credit cards, for example, reward customers by giving them credit toward their statement.

One point is typically worth 1 or 2 cents, though some cards offer more when you spend on travel, dining or another purchase category. Some cards reward purchases at particular stores, while others reward all spending with points or miles.

Then, you can redeem your accumulated points toward travel tickets, hotel stays, gift cards or other purchases.  

The 50,000 Chase Sapphire Preferred bonus points Fedynich earned are worth $625 toward travel, or 1.25 cents each.

auto traffic exchange

What’s that worth in cash? That’s harder to determine. It requires clicking through to the sign-up offer details and scrolling to the final paragraph. There, you’ll find that those 50,000 points are worth $500 in real money.

Interest rates for the card range from 18% to 25%, depending on an applicant’s credit history.

Those who aren’t successful not only miss out on the perks — they can also end up in debt.

Once you have a balance on a rewards credit card, which typically have higher interest rates, “it gets ugly fast with compound interest. It can wipe out your rewards,” said Beverly Harzog, who writes about credit cards at U.S. News and World Report.

How Rewards Set You Up to Overspend

Shannon McNulty of Boulder, CO., poses outside her apartment against a view of the flatirons.

Shannon McNulty was 20 when she applied for the Capital One Venture credit card in 2015. She was preparing to go to England for a college study abroad program, and she had heard that using a credit card overseas was safer than using a debit card.

The card boasted no interest fees for the first year, and would allow her to earn miles toward future flights. It wasn’t her first credit card, but its $5,000 limit was much higher than the limit on the starter card she already had.

She hoped the card would help her earn miles toward her flight back to the U.S. from England, or to go toward travel between her home state of Vermont and her college in Indiana.

In the months before her trip, she started using the credit card so she could start earning miles.

“Looking back, I did swipe more when I first got it, before traveling, for the points,” she admitted.

“I went over [to England] with the card, and with a big chunk [of money on] my debit card to transfer in to pay it off,” she said. But she soon realized, “I have this extra money. I should use it.”

During her four-month stay in England, she racked up a $3,000 balance on her Venture card. The bulk of her spending on the card wasn’t for food or drink, she said, or daily necessities.

It was on souvenirs to bring back for friends and family.

Three years later, at age 24, she regrets it. “No one really cares what you bring back for them.”

Studies show that rewards credit card users like McNulty are more likely to accrue debt than reap the benefits.

“There are benefits for those who pay on time, subsidized by delinquencies and a lot of interest,” said Deborah Goldstein, executive vice president of the Center for Responsible Lending.

A working paper from the Federal Reserve of Chicago analyzed spending and debt for consumers who had recently obtained a credit card with a rewards program.

According to the report, average spending on a credit card in the first nine months after a cash-back program started increased by $76 per month. Over the same period, users’ debt rose an average of $197.

Overall, each cardholder received an average of just $25 in cash-back rewards. The data is from 2002. A representative from the Federal Reserve of Chicago said an updated study had not been performed.

free traffic exchange


After McNulty’s one-year introductory period, her interest rate shot from zero to 21%. When she maxed out the card after returning from England, her minimum monthly payment on the card was about $140.

“Sometimes, right after I was out of school, I paid my electric and rent and I had no money left,” McNulty said. The small payments she could make didn’t do much to reduce her balance.

Her interest accrued so quickly that she felt her efforts to make substantial payments on her card were futile.

When McNulty spoke with The Penny Hoarder by phone, she pulled up her latest credit card statement online.

“If I pay the minimum payment, I’ll pay off my balance in 19 years, and I’ll end up paying $13,076,” after interest, she said.

Rewards Programs Face Few Regulations

Shannon McNulty's European souvenirs are shown with her Capital One Venture credit card

McNulty has the benefit of seeing the big picture on her monthly statement, and the impact of her spending on her efforts to pay the debt back. But as recently as 10 years ago, credit card users didn’t have that resource.

When it came to the long-term consequences of their spending, they were largely in the dark.

Prior to the Great Recession, credit card issuers could raise interest rates on a whim, retroactively tacking the additional interest onto existing balances. As a consumer, you could exceed your credit limit, avoiding the embarrassment of getting declined at the cash register, for an additional fee.

But part of the government’s recession-era crackdown on predatory lending included credit card reform.

Enacted in 2009 with bipartisan support, the Credit Card Accountability, Responsibility and Disclosure (CARD) Act required that credit card issuers issue transparent billing statements and limited changes to interest rates.

It required each bill to have a box that explains how long it will take for a consumer to pay their credit card balance. It reiterates the minimum payment due and shows the user how much they’ll pay on their balance, including interest, if they only pay minimum balances.

Before the recession, credit card issuers would often set up on college campuses, giving out swag to encourage card applications. The CARD Act banned such gifts, along with preapproved offers mailed to people under 21. It also required that young borrowers have a co-signer or prove they could afford the credit card.

One area notably absent from CARD Act mandates is rewards programs.

Credit card issuers can still change their promotional offers, cardholder benefits, point-tallying formulas or reward expiration dates at any time. It’s up to the consumer to pay attention to their card’s policies.

Meanwhile, as the recession faded into memory, credit card use increased. And the rewards increased, too.

That’s because rewards programs offer perks like larger sign-up bonuses when the economy is doing well, said Harzog, the credit cards writer at U.S. News and World Report.

“Issuers will compete with each other for the best customers who use their cards a lot,” she said. “They want those people, so they try to outdo each other.”

Since the Consumer Financial Protection Bureau began tallying complaints in 2011, it’s gotten more than 3,000 about credit card rewards programs. Most of the big players received the most complaints — American Express, Citibank, JPMorgan Chase, Bank of America and Barclays, in that order.

Of the complaints, only about 900 include a written description of what happened. Of those:

  • More than 150 cited a problem earning or redeeming airline miles.
  • About 80 cited a cash-back program.
  • 25 were related to hotel rewards.

The CFPB stopped collecting and reporting statistics specific to credit card rewards in spring 2017. Instead, it lumps them into the general credit cards category.

To determine the number of credit card reward-related complaints beyond that date, The Penny Hoarder searched the main database of credit card complaints for 21 terms relating to reward programs, such as “cash back,” “airmiles” and “bonus. We found that the ratio of rewards complaints among overall credit card complaints has tripled since 2015.

free traffic to my website

The CFPB announced in 2013 that it would review rewards program disclosures, with then-director Richard Cordray stating that the bureau would consider whether stronger consumer protections were needed for such programs.

But while subsequent reports from the CFPB in 2015 and 2017 repeated the same concerns about transparency and the ease of understanding rewards program disclosures, further restrictions haven’t been established.

For its 2015 report on the credit card market, the CFPB reviewed more than 4,000 pieces of reward credit card marketing material.

Sign-up bonuses were the largest source of complaints to the bureau that year.

“When offers we examined involved a sign-up bonus, only about one-third of marketing materials we examined included terms and conditions for the broader rewards programs,” the report explained.

The CFPB’s 2017 report on the same topic noted the popularity of reward credit cards across all credit score tiers but did not revisit most of its previous concerns about transparency and clarity of program terms and conditions.

“It might be hard to tell from some credit card advertising what the full terms of reward programs [are],” Goldstein said. “The CARD Act does a good job of preventing the worst abuses,” by credit card issuers, “but there could be more done to rein in deception.”  

The CFPB has only taken three CARD Act enforcement actions in the past seven years, as it’s focused on mortgage and installment lending. The credit card industry has largely monitored itself.

The Tricky Psychology of Credit Card Rewards

Dan Seitz, 36, of Somerville, MA, poses on his porch.

Dan Seitz of Somerville, Massachusetts, applied for an Amazon rewards credit card in 2014. He was buying a small kitchen appliance he planned to use a lot. The discount would reduce his order to just $50.

Soon, Seitz was footing the bill for group dinners out and spending freely for the promise of cash back.

“There’s plenty of room on the card,” he said he would tell himself.

“But it kept adding up,” he said. “I didn’t realize how deep of a hole I was in.”

It was only after he ended up $12,000 in debt that he fully understood the card’s rewards program. He was getting 1% Amazon credit back on all his purchases — basically a penny per dollar spent. It was a nice perk for someone who shopped on Amazon a lot. But the card had a 17.5% interest rate.

Seitz, 36, wasn’t unfamiliar with debt; in fact, he had worked hard to pay previous debts. “I’ve been able to double my student loan payments. I got [through] those,” he said, acknowledging the budget he and his wife have maintained over the years. “I managed to pay off a lot of other credit card debt I’ve had in the past.”

Those accomplishments had made him confident. “I didn’t have any debt,” he said. “I let myself relax too much.”

The abstract nature of paying with a credit card makes it easy to overspend, said Manoj Thomas, Ph.D., who studies the psychology of consumer habits at Cornell University.

Paying for goods and services is most “painful” when you pay with cash, because you can see and feel the bills leaving your wallet, Thomas explained. There’s a bit less pain when you use a debit card and the abstract, digital money leaves your checking account immediately.

But credit? Paying with a credit card is just about painless. Not only do zero dollars leave your account at the time you acquire an item or service, but you also have the option of putting off that payment for weeks, months, years, forever.

Using a credit card lowers the payment pain you feel, then credit card rewards help you justify using those cards, Thomas explained. “If you’re trying to buy a handbag, and the handbag costs $300 or 500 points… spending 500 points feels less painful than $300,” he said. “Points don’t feel like real money.”

But consumers know they have to spend to earn. And they feel entitled to what they earn.

“We love collecting points and achieving levels,” said Scott Rick, Ph.D., a marketing professor at the University of Michigan. “Point- and mile-based programs are a way to do that. They’re more fun than something that gives you a tiny percentage back in terms of straight cash.”

But the gamification of credit card use is dangerous, Rick said. “A lot of the decisions to acquire credit are driven by the games and not the cost.”

Even if consumers are aware of interest rates, they may not fully understand how interest will compound over time. They pay less attention to the pain of payment and the burden of a revolving balance.

“If you add incentives on top of that, it’s like putting gas on the fire,” Rick said.

What Winning the Rewards Game Looks Like

Dan Miller and his wife have 40 credit cards between them. His blog, Points With a Crew, delves into the logistics of obtaining nearly free travel for his family of eight, with how-tos for newcomers to try to replicate.

But he knows that his level of success isn’t realistic for most of his readers.

“It’s something I enjoy doing,” he said. “I enjoy maximizing rewards, looking into different programs. It fits in well with things I already enjoy and am good at. I wouldn’t recommend it for most people.”

Rewards experts like Miller emphasize the importance of sign-up bonuses for new credit cards, which can range up to 50,000 miles or points.

But reaping that benefit requires two qualifications from applicants: solid credit, and the ability to spend the required amount in the bonus offer’s time frame. Spending $4,000 in three months is a common requirement to get a sign-up bonus for higher-end cards like Chase Sapphire Preferred and Reserve.

It takes some strategy to make that spending happen once, let alone several times a year, if you open new cards to get sign-up bonuses — also referred to as churning.

Some people wait for big planned purchases to put on their new card, like a car insurance payment or vacation package. Some people manufacture spending through gift card purchases and resales, Miller said. Others pull out their card at every turn, plunking it down for group dinners or dates or anything else that will help rack up the balance.

“The value of miles and points is for people that are out of debt and that have the ability to stay out of debt,” Miller said. The stories and testimonials on blogs are aspirational, but they’re far from a guaranteed scenario.

Online communities of credit card maximizers are filled with tales of failure. For every blogger with an organized binder of credit cards, there’s a novice who didn’t read the fine print or understand the restrictions for their rewards credit card.

McNulty, the 24-year-old who used her rewards card while studying abroad, said she struggled to redeem the rewards she felt like she had earned. When she checked flights through the credit card points portal, she usually found better prices on other sites. She paid for just one flight with miles in the first year she had the card.

“I didn’t realize that the miles don’t translate to actual miles or to actual dollars,” she said. “It didn’t translate into any kind of plane ticket.”

Why the Future of Credit Rewards Is Uncertain

Now, the question is whether those rewards will stick around for those who want to take advantage of them.  

Access to credit and rewards “comes and goes with the economy,” Harzog said, noting that Capital One and Discover have cut back on credit limits in the past few months. Both target less-affluent customers, she said. “When the economy looks like it’s about to peak, credit card issuers pull back.”

Just as consumers who pay 20% or more in interest each month subsidize credit card benefits for users who pay their entire balance each month, the very stores where consumers spend their credit play a part.

Retailers are typically required to “honor all cards” if they choose to accept Visa or Mastercard at the register. But credit cards with generous rewards programs also tend to have higher interchange fees for merchants.

But card issuers are taking flack from retailers that don’t want to subsidize rewards programs through higher interchange fees.

Some major chains like Target are lobbying for an end to the “honor all cards” rule. If retailer pressure on card issuers increases, consumers could see a reduction of their card benefits.

And with no consumer protections that apply directly to reward programs, issuers are in near total control of how any program changes are implemented.

‘It’s Easy to Get in. It’s Hard to Get Out’

Shannon McNulty holds her Capital One Venture credit card outside her apartment.

McNulty said she’s struggling to rebuild her credit score after some late payments on her credit cards. “[I’m] cleaning up the mess I made with them.”

She doesn’t want another credit card.

Seitz is still paying down his debt, even though he stopped using his Amazon card. He pays aggressively, making a payment of about $1,000 on the card each month, thanks to the freelance work he does alongside his full-time job as a content marketing writer.

“It’s easy to get in [credit card debt],” he said. “It’s hard to get out.”

In New Jersey, Fedynich has gone back to using cash, for the most part, while she works on paying off her card. “I’m dying to go on another trip and use those mileage points,” she said, but she knows her point balance wouldn’t cover her rooms or meals once she gets there. “I’m trying to pay it off first before go anywhere,” she said.

But once she pays off the card, she thinks she’ll be done with trying to earn rewards. “As cool as it is, I need a budget I can see every day,” she said.

Every time she makes a payment for less than the full balance, she gets frustrated.

“It’s the ball that keeps rolling away,” she said.

Lisa Rowan is a former senior writer at The Penny Hoarder. She previously co-wrote “The American Nightmare,” a four-part series on the impact of the subprime mortgage crisis 10 years later.

Former data journalist Alex Mahadevan contributed to this article.

Considering signing up for a rewards credit card? Check out these five elements to consider first.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

HUGE Savings on LEGO Sets!

This post may contain affiliate links. Read my disclosure policy here.

Grab some LEGO sets for a great deal right now!

THE LEGO MOVIE 2 Shimmer & Shine Sparkle Spa!

Right now, Amazon and Target are offering up to 50% off select LEGO sets! Here are some deals you can score…

Get this THE LEGO MOVIE 2 Shimmer & Shine Sparkle Spa! for only $34.99 shipped from Target!

auto traffic exchange

Get this LEGO Duplo The Movie 2 Emmet and Lucy’s Visitors from The Duplo Planet Building Bricks for only $14.99 from Amazon or Target!

best free website traffic generator

Get this LEGO THE LEGO MOVIE 2 Introducing Queen Watevra Wa’Nabi Build and Play Kit Creative Building Playset for only $9.99 from Amazon or Target!

free traffic exchange

Get this THE LEGO MOVIE 2 Emmet’s Dream House/Rescue Rocket! Building Kit for only $34.99 shipped from Amazon or Target!

Free Traffic Generator

Get this LEGO Super Heroes Marvel Spider-Man Bike Rescue Building Kit for only $15.99 at Amazon or Target!

Looking for more unique LEGO gifts or LEGO stocking stuffers this holiday season? We have you covered with this Gift Guide for LEGO Lovers — and they’re all under $30 to help you stick to your gift budget!

free traffic to my website

Google Shooter Google Shooter – How To Make Money Online – How To Make Money Online Fast – Easiest Way To Make Money – Google Shooter, Google Snipper Money Making System – Learn How To Make Passive Income From Home

Google Shooter Google Shooter- How To Fix Money Online- How To Draw Money Online Fast- Easiest Way To Make Money- Google Shooter, Google Snipper Money Making […]

Read More …

Read more: etrafficlane.com

Wealthsimple Review 2019 – Robo Advisor & Wealthsimple Trade [UNIQUE PROMO]

I’ve been putting off writing a Wealthsimple review for a while now due to the fact I personally do not personally use robo advisor, instead preferring to cut costs to the bone with my Questrade, my top rated discount brokerage, DIY strategy. 

auto credit v1

Now that Wealthsimple Trade has launched, and the robo advisor service has gotten so popular, I figured that it was time to take a serious look at the service. 

If you’re the TLDR type, then this Wealthsimple review might be a bit lengthy for your tastes.  Feel free to navigate using our table of contents to jump around.

Below, you can find my Wealthsimple review summary and rating:

Wealthsimple Robo Advisor: Scoreboard










  • Investment Strategy










  • Website and Mobile Usability










  • Fees & Costs vs Mutual Funds










  • Halal & Socially Responsible Investing Options










  • Advice and Personal Finance Help










  • Safety

4.9









Review Summary

Wealthsimple is the largest robo advisor in Canada. Thanks to a simple onboarding process, easy to use platform, and $0 account minimum, it’s a favourite among Canadians. Plus, for new customers, Wealthsimple will pay any transfer fees for those who want to switch over.

However, while these factors all contribute to making Wealthsimple one of the top robo advisors in the Canadian market, there’s a whole lot more to this company that has allowed it to earn my stamp of approval. 

Promo Offer: $10,000 Managed for Free!

No Code Required – Just Button the Link Below

.wp-review-3696.review-wrapper
width: 100%;
float: left;

.wp-review-3696.review-wrapper,
.wp-review-3696 .review-title,
.wp-review-3696 .review-desc p,
.wp-review-3696 .reviewed-item p
color: #555555;

.wp-review-3696 .review-title
padding-top: 15px;
font-weight: bold;

.wp-review-3696 .review-links a
color: #1f277a;

.wp-review-3696 .review-links a:hover
background: #1f277a;
color: #fff;

.wp-review-3696 .review-list li,
.wp-review-3696.review-wrapper
background: #ffffff;

.wp-review-3696 .review-title,
.wp-review-3696 .review-list li:nth-child(2n),
.wp-review-3696 .wpr-user-features-rating .user-review-title
background: #e7e7e7;

.wp-review-3696.review-wrapper,
.wp-review-3696 .review-title,
.wp-review-3696 .review-list li,
.wp-review-3696 .review-list li:last-child,
.wp-review-3696 .user-review-area,
.wp-review-3696 .reviewed-item,
.wp-review-3696 .review-links,
.wp-review-3696 .wpr-user-features-rating
border-color: #e7e7e7;

.wp-review-3696 .wpr-rating-accept-btn
background: #1f277a;

.wp-review-3696.review-wrapper .user-review-title
color: inherit;

“@context”: “http://schema.org”,
“@type”: “Review”,
“itemReviewed”:
“@type”: “Thing”,
“name”: “Wealthsimple Robo Advisor: Scoreboard”
,
“reviewRating”:
“@type”: “Rating”,
“ratingValue”: “4.9”,
“bestRating”: 5
,
“author”:
“@type”: “Person”,
“name”: “FT”
,
“reviewBody”: “<span style="font-weight: 400">Wealthsimple is the largest robo advisor in Canada. Thanks to a simple onboarding process, easy to use platform, and </span><b>$0 account minimum</b><span style="font-weight: 400">, it’s a favourite among Canadians. Plus, for new customers, Wealthsimple will pay any transfer fees for those who want to switch over. </span>rnrn<span style="font-weight: 400">However, while these factors all contribute to making Wealthsimple one of the top robo advisors in the Canadian market, there’s a whole lot more to this company that has allowed it to earn my stamp of approval. </span>rn<h3>Promo Offer: $10,000 Managed for Free!</h3>rn<em>No Code Required – Just Button the Link Below</em>rnrn[su_button url="https://milliondollarjourney.com/recommended/wealthsimple" target="blank" background="#1f277a" size="8" wide="no" center="yes" title="Free sign up with special promotion"]Sign Up Today & Receive Promotion[/su_button]”

 

Why is Wealthsimple Canada’s Leading Robo Advisor

There’s a reason why Wealthsimple is Canada’s biggest and most popular robo advisor. However, before I dig into what makes Wealthsimple such a standout in its field, let’s first take a second to explain what a robo advisor is and Wealthsimple’s approach as a robo-advisor.

Intro: What is a Robo Advisor?

The first thing you need to know is that a robo advisor, despite the name, is not a robot. The investment process is automated (after you set it up the first time) however, that automated process is created, run, and monitored by a team of very knowledgeable financial professionals who are also available for customer service and financial advice. 

Robo advisors have come to light over the last few years as a middle-ground for Canadians who are looking for an alternative to the big brick-and-mortar banks but are not comfortable using DIY methods. The goal is to create an easy-to-use investing process that will allow clients to make the most of their money without the hidden fees and costs often associated with traditional banking methods.  Perhaps the best part about robo advisors in my opinion is that they allow Canadians to setup a quick and easy way to automate their investing using an index-based philosophy..

The Wealthsimple Approach

The Toronto-based team behind Wealthsimple (wealthsimple.com) describes its mission as the following: 

We provide world-class, long-term investment management without the high fees and account minimums associated with traditional investment managers. We invest your money in a globally diversified portfolio of low-cost index funds modeled after the same Nobel Prize-winning research used by the world’s savviest investors. Our cutting-edge technology helps you earn the best possible return on your money, while also lowering your tax bill.

This means we do things like automatic rebalancing, dividend reinvesting, and tax loss harvesting services that most people couldn’t afford until now or found too time-consuming and tedious to do on their own. Our financial advisers are always available when you need them. They can help plan your financial milestones and answer questions you might have about potential risks or what sort of investment accounts you should have.

The Nobel Prize-winning research they are referring to is the Modern Portfolio Theory done by Harry Markowitz.  Wealthsimple is quick to tell users that their approach is based on this tried and tested work. If you are familiar with ‘couch potato investing’, then you’ll have an idea as to how Wealthsimple manages your money. We’ll dig more into how it works later on in this Wealthsimple review. 

The Team Behind Wealthsimple

As mentioned above, robo advisors are backed by financial experts who create and monitor the algorithms. Additionally, there are financial experts to reach out to with any customer service inquiries or, even for financial advice. 

free traffic exchange

From wealthsimple.com

While robo advisors have been around for a couple of years now (Wealthsimple started in Toronto in 2014, and was founded by Michael Katchen), many Canadians are still hesitant to switch to one because they are still categorized as new. It makes sense, ‘new’ isn’t always a word you want to associate your hard-earned money with, however, you can breathe easy with Wealthsimple knowing that this particular Canadian robo advisor is “powered” by Power Financial – one of Canada’s largest and wealthiest companies.  As of 2019 Power owned 89% of Wealthsimple and had invested over $200 Million in the company! Plus, Canada’s largest robo advisor has grown up before our eyes and really isn’t that young anymore.

Wealthsimple Review: How it Works

To get started with Wealthsimple you can have an online, email, or phone discussion with an advisor to discuss what they think is the best option for you taking into consideration your goals and risk tolerance. Don’t be afraid to ask questions, remember that the Wealthsimple representative you are speaking to is an advisor and while they may not be able to answer everything off their head (mainly when it comes down to the more detailed, complex questions), they will answer your questions with your best interests at hand. 

if(window.SUImageCarousel)setTimeout(function() window.SUImageCarousel.initGallery(document.getElementById(“su_image_carousel_5de8845e7964b”)), 0);var su_image_carousel_5de8845e7964b_script=document.getElementById(“su_image_carousel_5de8845e7964b_script”);if(su_image_carousel_5de8845e7964b_script)su_image_carousel_5de8845e7964b_script.parentNode.removeChild(su_image_carousel_5de8845e7964b_script);

One of the reasons I’m such an advocate for Wealthsimple is because as a Portfolio Manager, they have a fiduciary duty, meaning that the company and their employees legally HAVE to give you advice and recommend investments with your needs and best interests in mind. Strangely enough, this is not mandatory of all financial advisors in Canada, and many people at big banks that recommend mutual funds have no fiduciary duty to you at all!

Once you have chosen your account (for example, RRSP or TFSA), your funds will be split into several different asset categories including both Canadian and international equities, real estate, and bonds. 

Wealthsimple Investing Approach and Returns

As I mentioned earlier our Wealthsimple.com review, the robo advisor approach is basically an automated form of couch potato investing. For those who aren’t familiar with this term, couch potato investing is a passive investing strategy that relies on building a diversified, low-maintenance portfolio. The goal is to deliver high returns at a low cost and has been shown to reduce typical investor costs by up to 90%. Not only does this strategy save you money, but it has also been proven to beat the vast majority of mutual funds and “money experts” that traditionally handle your investments in Canada.

The couch potato strategy (which has also been called index-investing or passive investing) is not new. It’s been around for ages, but is becoming more and more popular in part thanks to robo advisors like Wealthsimple, who allow everyday folks, rather than just finance experts, to build and maintain these types of portfolios. 

Personally, I’m a strong believer in taking this type of approach to investing, and I’m a fan of how transparent Wealthsimple is when it comes to their investment strategies. When asked what kind of returns to expect, Wealthsimple responded with the following:

Expected returns are impossible to predict and are out of your (and our) control. We prefer to focus on things we can control: fees, diversification and emotions. The stock market will take care of returns over the long term. The key is to stay disciplined and stick to your strategy in order to build wealth. You can read more about our investment strategy here.

While Wealthsimple makes it clear that expected returns are impossible to predict (this is the truth for any investor, don’t let someone try to convince you otherwise), they go an extra step in their transparency to show you how your investments are performing and what your returns actually are in their monthly statements and in your online account.

Wealthsimple Socially Responsible and Halal Investing

Investors may also be interested to know that Wealthsimple offers Socially Responsible Investing (SRI) as well. Socially responsible investing is becoming more and more popular these days, especially among millennials. 

To clarify, socially responsible investing is a type of investing that allows you to put your money towards companies and businesses that align with your environmental and social values. A Wealthsimple SRI portfolio will include the following ETFs:

  • Low Carbon (CRBN): Global stocks with a lower carbon exposure that the broader markets.
  • Environment (XEN): Canadian stock that prioritize environmental and social concerns.
  • Cleantech (PZD): Cleantech innovators in the developed world
  • Government Securities (ZFM): Canadian federal bonds with AAA rating
  • Human Rights (VIDI): Global stocks with a positive record on human rights and corruption. 

I’ll admit that socially responsible investing isn’t at the top of my priority list, however, I do agree that it is a good concept and think it’s a great way to entice younger generations to become more involved in their money decisions. Of course, people tend to be more involved with SRI portfolios because some of the companies may not be up to your personal standards, so that is something to keep in mind. Additionally, there is an added premium to SRI, about 0.2% MER since it is much more niche. However, it’s great to know that the option is there should that be important to you. 

As well as socially responsible investing, Wealthsimple also offers Halal Investing. This portfolio is optimized for performance by using companies that align with Islamic law. This means no businesses that profit from gambling, weapons, tobacco, or other restricted industries. Additionally, this type of investing will not include any businesses that obtain a significant percentage of their income from interest on loans. All investments are screened by a group of Shariah scholars to ensure that they are up to the expected standards. 

Hallal portfolios include 50 stocks chosen based on the designated required principles as well as their ability to be optimized for diversification. Examples of these stocks include Pfizer Inc, Canon Inc, and Johnson & Johnson. As with other Wealthsimple investment portfolios, the goal of Halal investing is to minimize risk and maximize reward and, if you are wondering about the fees, there are no additional fees to Wealthsimple’s halal investing, it follows the same fee structure as other Wealthsimple investments.

 

Wealthsimple Review: Costs and Fees

Wealthsimple.com currently has three different levels: Basic, Black, and Generation. I’ll dig more into these in a minute, but when it comes to fees, the Wealthsimple management fees differ depending on which of these levels you choose. It will either be 0.5% or 0.4%.

Now, on top of the Wealthsimple management fees you need to include the MERs of the underlying ETFs. The total MER for your investment in a basic portfolio will be 0.5%-0.7%.

If you are looking into socially responsible investing (SRI), as mentioned previously, you will have slightly higher MERs, around 0.25-0.40%. This would then bring your total fees (management fees plus MERs) to 0.65%-0.90%. 

ETFs are known for having significantly lower MERs than mutual funds. To compare, consider Wealthsimple’s overall fees (0.5%-0.7% for non SRI accounts) versus actively managed mutual funds which are more like 2%-2.5%. That means the average Canadian is paying 3-4 times as much for their mutual fund investments, than they could be paying for an objectively superior investment product! 

Now that you have an idea of the Wealthsimple costs and fees, let’s take a look at the different Wealthsimple levels. 

Wealthsimple Basic

The Wealthsimple Basic Account is for clients who have up to $100,000. This account has a 0.5% fee which includes trading, account fees, rebalancing costs, and transfer fees. It’s a simple account, nothing too fancy. That being said, the fees are competitive compared to other robo advisors on the market, plus you also get financial advice included as part of the package.

Wealthsimple Black

The Wealthsimple Black account is a premium service for clients who have more than $100,000. If you have this account, your management fee drops from 0.5% to 0.4%. It may not seem like a lot, but trust me, that adds up quickly over time!

Black account holders receive all the benefits included in the basic account: trading, account fees, rebalancing costs and transfer fees, and free expert advice. 

However, Wealthsimple Black members also get a few additional perks including: 

  • Tax loss harvesting: this can be tricky to figure out on your own, but if it makes sense for you, the Wealthsimple team will use tax harvesting strategies to create tax savings in your portfolio. For those who are unsure of how this works, essentially they will sell any investments that have lost their value, put in a tax deduction, and then buy a similar asset. It’s not for everyone, but if it applies to your financial situation, this can also save you quite a bit of money. 
  • Financial planning sessions: book a 1 on 1 call to talk to an expert advisor about your financial strategy or plans for retirement. 
  • VIP airport lounge access at over 1,000 lounges across 400 cities worldwide. These types of passes usually cost about $25+ per session, so if you travel a lot this alone could save you hundreds of dollars each year, plus make your travel experience much more enjoyable. 

Wealthsimple Generation

The Wealthsimple Generation account is the top tier, and is for those who have deposits of $500,000 or more. This plan has the same features as Wealthsimple Black: trading, account fees, rebalancing costs and transfer fees, free expert advice, 0.4% management fee, tax harvesting, financial planning sessions, and VIP airport lounge access. 

On top of the above perks, a Wealthsimple Generation account also comes with two additional benefits.

  • 50% off the Medcan Comprehensive Health Plan: This includes an annual check up, up to 15 diagnostic tests, same day (or next day) appointments, travel health support both in Canada and abroad, and genetic tests. This 50% discount will save you over $2000. 
  • Personalized financial report: the Wealthsimple team will help you strategize your financial goals and draw up plans for retirement, ways to preserve your wealth, and can analyze your cash flows and make financial projections to better help you manage your money. 

Both the Wealthsimple Black and Wealthsimple Generations platforms are excellent values.  The 0.4% MER means that costs are quite reasonable, and if you think about it, the tax harvesting feature alone can save you enough to cover that 0.4% fee. Plus, as a traveller, I can really appreciate the airport lounge pass. After all, who doesn’t want to feel like a VIP? 

Another thing to note, if you are thinking of switching over to Wealthsimple from your current bank, Wealthsimple will cover all of your transfer fees.

 

Wealthsimple RRSP Accounts and TFSA Accounts 

Wealthsimple offers a range of account types including:  

  • RRSP
  • TFSA
  • RESP
  • Joint
  • Business
  • LIRA
  • Personal
  • RRIF

Most Canadians are just looking for the easiest way to investment money within a registered account.  It is incredibly simple to open a Wealthsimple RRSP, TFSA, or RESP account. It can be done completely online, is almost instant, and after hooking up your chequing or savings account, you can conveniently set up an automatic contribution that puts your savings on autopilot.

No more worrying about RRSP season and last minute investment decisions.  Just a safe, simple, proven investment strategy that you can set and forget about until you’re ready to make a large-scale change.  While Wealthsimple obviously offers a wide variety of accounts, these three registered accounts represent the total investing activity for many Canadians, and are a main focus for Wealthsimple.  

If you have any questions about how the Wealthsimple RRSP or TFSA work, their online chat feature (or their old school phone assistance) will be able to efficiently answer any questions you might have about where to contribute or how to use the platform.  About the only questions their first line of assistance might struggle with is in-depth niche topic help for something like investment trusts. (If you don’t know what an investment trust is, don’t be alarmed – it’s very unlikely that you’ll ever need to.)

 

Wealthsimple High Interest Savings Account

Interestingly, Wealthsimple was the first Canadian robo advisor to offer a High Interest Savings Account (HISA). Personally, I’m not the biggest advocate for using HISA’s for long-term savings (such as retirement), however, for short-term goals like a vacation or buying a car, a HISA is a great option.

Right now, Wealthsimple offers a 2% interest rate for their high interest savings account. That’s a flat fee; it’s not a promotional rate, it doesn’t go away after a certain period of time, 2% is what you get. Additionally, there’s no minimum balance requirement (great for those just starting saving), and you’ll get unlimited transaction fees.  That 2% is about 1.95% higher than what you’re likely getting in your big bank chequing account, and 1.5% higher than what many big bank “savings accounts” offer.

While there’s no doubt that the Wealthsimple HISA is a good choice, one of the best advantages to Wealthsimple offering so many account options is that they make it easy to keep all of your savings and investments in one place, which in turn for you makes it easier to manage and keep track of.

The Wealthsimple App

Speaking of the Wealthsimple App, it’s actually pretty amazing. Launched in December of 2014, it was the first app of its kind; an app designed with the specific goal of making investing easier.

Wealthsimple describes their app as having a ‘financial advisor in your pocket’. The app allows you to get in touch with your wealth concierge at the tap of a finger, plus you can easily add funds, keep an eye on your asset allocation, and view your performance. 

On top of creating an easy and streamlined app, Wealthsimple also prioritizes privacy in their app. They go above the simple ‘create a password’ and allow users to use either TouchID or set a unique 4 digit passcode (for iphone) or lock pattern (for Android). This is true for both the Wealthsimple App and the Wealthsimple Trade app. 

if(window.SUImageCarousel)setTimeout(function() window.SUImageCarousel.initGallery(document.getElementById(“su_image_carousel_5de8845e79e10”)), 0);var su_image_carousel_5de8845e79e10_script=document.getElementById(“su_image_carousel_5de8845e79e10_script”);if(su_image_carousel_5de8845e79e10_script)su_image_carousel_5de8845e79e10_script.parentNode.removeChild(su_image_carousel_5de8845e79e10_script);

 

Wealthsimple Review: Is it Safe?

Because Wealthsimple is a still a somewhat new name to people, the most common question I get asked is, “Is Wealthsimple Safe?”

The answer?

Yes!

Wealthsimple is as safe as any banking and investment option in Canada.  They now have more than 100,000 clients from all over the world!auto credit v1

First of all, Wealthsimple is an online business. If they didn’t protect their customers, it would be an instant death for the company. As for how exactly they protect their clients? Wealthsimple uses bank-level security including a 128-bit SSL certificate. For those who are unsure of what this means, essentially it’s a program that will ensure that your personal information and passwords don’t get seen by prying eyes. 

Secondly, Wealthsimple indicates that they also use industry-standard backup programs and firewalls. These will prevent any large-scale problems from occurring as well as work towards backing up information automatically multiple times a day, every day of the week. 

Thirdly, your money invested with Wealthsimple is also protected by outside sources. When you invest with Wealthsimple, your money is insured by the Canadian Investor Protection Fund (CIPF) up to $1 million per account. On top of that, if you have a HISA with Wealthsimple, your money is insured by the Canadian Deposit Insurance Corporation (CDIC) for up to $100,000 (there is optional coverage for up to $800,000 per account, however, in my opinion, if you are keeping that much money in a HISA you may want to rethink your financial strategies). 

Finally, we need to remember the team behind Wealthsimple. These are career professionals who have years in the industry with reputations to uphold. The fact that these individuals have lent their names to the company also instils a strong feeling of trust. Additionally, Wealthsimple is made up of registered portfolio managers that have a legal fiduciary duty to clients. This means that, by law, they have to give recommendations based on the client’s best interest.

With Power Financial running the Wealthsimple show, there is no doubt that this company is in it for the long haul and is incredibly safe!  It should be noted that no investment company can guarantee the safety of investment returns. So within that narrow definition of “guaranteed investment performance” than Wealthsimple – as well as every other investment entity out there – is not 100% safe.  Your portfolio will always be subject to the general performance of the market, and anyone that promises you different is probably trying to illegally sell you something.

A Wealthsimple Promo Offer Coupon for You

Wealthsimple has provided me with a promotion code for readers to manage up to $10,000 free for a full year. This means you don’t pay any management fees for 12  full months as you test the platform out!try this top Canadian robo advisor. 

To take advantage of our Wealthsimple Review Coupon Code simply click below:

 

Wealthsimple Review: Summary

Wealthsimple isn’t the only robo advisor in Canada, but I can honestly say that as of today they are easily the #1 choice in most situations. Here’s what I think makes Wealthsimple stand out in the field enough to be worth considering:

  • Wealthsimple is the largest robo advisor in the country
  • Wealthsimple has a $0 account minimum
  • Wealthsimple is CIPF-insured up to $1,000,000. 
  • Their website and app are incredibly user friendly
  • Wealthsimple will cover your transfer fees to switch over to them
  • Wealthsimple offers easy to understand interactive statements that break everything down for you
  • Wealthsimple is partnered with the Mint App
  • Wealthsimple allows you to invest in fractional shares
  • Wealthsimple automatically re-invests dividend income from your investments back into ETFs that have fallen below the portfolio target you originally set
  • Wealthsimple offers HISA accounts
  • Wealthsimple offers socially responsible investing (SRI) and halal investing

In other words:

OUR RATING:

4.9 / 5

Here’s the simple truth: Wealthsimple is the quickest and easiest way to take a piece of your paycheque every month, and automatically invest it into a diversified portfolio of ETF options from around the world.  I love the investment strategy, I love the simplicity of it. It’s not as cheap as opening a Questrade account and building your own ETF portfolio or purchasing an all-in-one ETF, but it is MUCH cheaper than traditional Canadian investment options.

Ready to start with Wealthsimple? Don’t forget to use our Wealthsimple review link to sign up today and save the fees on your first $10,000! 

 

Wealthsimple Trade – The No Fee Discount Brokerage

Everything we have discussed so far in our Wealthsimple review has been looking at an automated portfolio of basic index ETFs, and would be comparable to other Canadian robo advisors. However, if you are interested in trying to manage your own portfolio you might be interested Wealthsimple Trade. With this option, you make the decisions of how to invest; what to buy and sell on the stock market.

A brokerage account is where you will hold the money that you use to buy/sell stocks. Brokerage accounts with financial planners tend to cost more as you are paying for their investment advice and management skills. Online brokerage accounts, however, have much lower fees and allow you to buy/sell from the comfort of your home.  Wealthsimple Trade would be broadly comparable to Questrade as far as “apple-to-apples” comparisons go – although they have a ways to go before they challenge for my #1 discount brokerage award.

With Wealthsimple Trade, you can buy and sell thousands of stocks. It’s a relatively new platform, and still has a few bumps that they are sorting out and adding to, but one of the major draws of Wealthsimple Trade is that it is $0 commission, which means that they do not add any fees to buying and selling stocks. Most other online brokerage accounts charge for trades, so this factor definitely makes Wealthsimple stand out in the pack. If you are wondering that the catch is, and how Wealthsimple Trade actually makes money if they don’t charge commission, know that Wealthsimple does charge a +1.50% base conversion fee when you make US trades which. Considering that other brokerages charge about 2% on foreign trades, is very reasonable.

On top of the 0$ commission structure, Wealthsimple Trade also has a no account minimum, which makes it extra enticing to those who think they want to dabble with their own portfolios. However, it’s important to remember that this option is for those who know what they are doing. Buying and selling stocks just because someone told you to is not a smart investment technique. That being said, having the freedom to make your own investment decisions can lead to a bigger reward. Just remember to treat it as an investment, not a gambling experiment. 

Wealthsimple Trade has its own app, so you will need to download it as well as the original Wealthsimple app that you already use. However, your bank account will still be linked which means you can get started right away. 

 

 

The post Wealthsimple Review 2019 – Robo Advisor & Wealthsimple Trade [UNIQUE PROMO] appeared first on Million Dollar Journey.

starting a internet marketing business traffic exchange software Traffic Generator Bot auto credit v1 free traffic exchange free traffic to my website How To Make Money Online Daily internet marketing

Have you signed up for your FREE Harry’s Shaving Bundle yet?!

If you haven’t tried Harry’s yet, you can currently get a FREE shaving bundle! All you’ll pay is shipping!

best free website traffic generator

Harry’s is offering a free three-piece Shaving Bundle right now. You just pay $3 for shipping. This is valued at $13!

In this free set, you’ll get two weeks’ worth of shaving supplies from Harry’s: a Truman razor with a blade (choose from one of three different different colors), foaming shave gel, and a travel blade cover.

free traffic exchangeFree Traffic Generator

I ordered this and was very impressed with what I got for $3 shipped! The razor was seems to be really high quality and I loved the rubberized handle (and it’s fun that you get to choose the color!)

free traffic to my website

I chose the orange handled razor although I’m not really sure why! I think if I were to do it again, I would choose the blue. Oh well!

free website traffic generator

How To Make Money Online Daily

When you sign up for this Shaving Bundle, it signs you up for a subscription to Harry’s razors, however, you can choose to cancel before they send your next shipment. I ordered this and I chose the 5-month option (see above).

They said that they will email you before they send your next shipment and you can cancel your subscription then if you don’t want to continue getting shipments. Or, go ahead and cancel it as soon as your first order ships above so you don’t accidentally forget.

I went in and cancelled my subscription after my box shipped and it was SUPER easy to do.

increase website traffic free

internet marketing

Hesitant about Harry’s? Check out this recent Harry’s review from a reader:

“I’ve been using Harry’s since this past December and I must say that their products and customer service are GREAT! I also took them up on their mystery product and ALWAYS get an item much more valuable than what they charge.

I received the BEST customer service email that I have ever received from ANY company that I’ve done business with. I was so pleased that I emailed them back to thank them for such a nice, friendly email and they replied-pronto!

AND their blades are really nice! I get auto shipping every 3 months, but these blades start sharp and stay sharp for much longer than those I used to buy in stores.

As a disabled ARMY veteran I chose the OD Green color razor, which too, is a wonderful product. The weight of the razor makes shaving so much more enjoyable and effective.

I really think that you’ll enjoy these products!”

internet marketing ads

Here’s how to get this deal:

Woohoo! Just $3 out of pocket for the set!

Let me know if you’ve ordered from Harry’s before or have a subscription. I’d love to hear your thoughts.

Also, see my Completely Honest Review of Dollar Shave Club. (And you can get a Starter Set from Dollar Shave Club for just $5 shipped here.)

internet marketing affiliate

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

auto traffic exchange

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

best free website traffic generator

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

free traffic exchange

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.
Free Traffic Generator

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.

make money mobile app| good income| part time job| work from home|make money app|online paise kamaye

Make money app download join: http :// www.makemoney.tech/ app Make added bonus Invite( Refer) system: TWH3 8U Sub: make money mobile app | good income | persona go task | labor from residence | make money …

Read more: etrafficlane.com

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

America

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

auto traffic exchange

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

Bolivia

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.
chelsea@thompsonhousegroup.com

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.

7 Places to Find Secondhand Gifts Your Friends and Family Will Adore

Gifting your friends and family with something they’ll love this holiday season doesn’t require buying something brand new.

You can save a considerable amount of money by buying used gifts for Christmas instead. Thrift stores and private sellers price merchandise at a fraction of their original cost — not to mention the treasures you might be able to regift without spending a penny.

Before you cringe at the idea, consider this: A recent survey by the selling app Mercari found 60% of people felt comfortable receiving a previously owned gift. 

Likewise, Accenture’s annual holiday shopping survey found more than half of respondents said they’d willingly accept secondhand apparel as gifts this holiday season.

Of course, you’ve got to consider the gift recipient — and the gift. Your vintage-loving sister would appreciate a good thrift store find, and your 2-year-old nephew won’t realize (or care) if his “new” toy truck used to belong to another kid. 

But if your husband has been yearning for a specific tech gadget that just hit the market or your mom wants a 2020 calendar, maybe they aren’t the best candidates to give used gifts for Christmas.

When gifting anything used, examine the item’s condition the best you can. Arrange to meet individual sellers in safe, public places. If you’re purchasing online, vet the website to ensure it’s trustworthy and secure. Check out the reviews or ratings of sellers you buy from.

Opportunities to find pre-owned presents are widespread. Here are seven places to shop for inexpensive gifts this holiday season.

7 Outlets to Find Used Gifts for Christmas

auto traffic exchange

Some places you’ll discover great secondhand gifts (that won’t bust your budget) include:

1. Brick-and-Mortar Thrift Stores and Consignment Shops

Thrift store chains like Goodwill and the Salvation Army have a varied assortment of goods. Proceeds from sales go to community programs that support the nonprofits’ missions. 

You may find for-profit consignment shops in your area have a particular focus, like children’s clothing or men’s fashion.

2. Online Resale Retailers and Private Sellers

A woman holds a cell phone that is displaying the Poshmark app

Sites like Poshmark, Tradesy and ThredUp are great outlets to find clothing and accessories at a discount. 

Other e-commerce websites, like Facebook Marketplace, Craigslist, eBay and Mercari, have less of an online store interface. On these sites, private sellers post a variety of previously used products for sale, including toys, tech, furniture and home decor.

3. Yard Sales, Estate Sales or Flea Markets

Yard sales, estate sales and flea markets can include a great array of options You may even find a table of trinkets the seller is giving away for free. 

4. Public Libraries

Occasionally libraries will hold fundraisers where they’ll offer a selection of books for sale. You can find titles for only a couple bucks a pop. It’s a good opportunity to get something for the book lover in your life.

5. Pawn Shops

Disregard the negative reputation that pawn shops (often unfairly) have. This venue is popular for finding jewelry at low prices. You can also find a great assortment of other merchandise — from DVDs to bikes to musical instruments.

6. Buy Nothing Groups

The Buy Nothing community (which connects neighbors via Facebook) provides an opportunity to find a gift that won’t cost you anything. Members of Buy Nothing groups post items they own that they choose to give away for free. 

Search Facebook to see if your community has an active group, and join to see what your neighbors are giving away.

7. Your Own Home

Regifting gets a bad rap, but it’s honestly no different than giving something from a secondhand retailer. The plus? You incur zero cost. 

Consider items you’ve barely or never used, like that waffle maker that’s still in the box from when you got married. Just don’t give someone a present they originally gave to you!

Nicole Dow is a senior writer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

auto credit v1

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

auto traffic exchange

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

best free website traffic generator

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.
Free Traffic Generator

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.

5 Tech Investments That Are a Must For Your Startup

auto traffic exchangeArtificial Intelligence is used in this biodome to grow bio-organic food with zero garbage applying the Eddy robot by flux.

For startups everywhere, there a few tech implements that simply aren’t debatable; these are must-haves for your success in business. As technology continue to evolve, we’ll likely examine brand-new tech taking the place of these components, but for now, these are the five tech financings that are a must for your startup. You’ll want to set aside some coin to ensure you’re going the best technology to help become your startup a success!

1. Website/ Mobile App

If you aren’t considering a mobile app for your startup, envision again. The majority of US adults access the internet using a mobile machine; the days of using computers to access the internet are( unhappily) in drop-off. Having a portable app, or at the very least, a mobile-friendly site, is no longer included an enticing additional; it’s a requirement.

If your customers can’t access your locate via their smartphones and other mobile manoeuvres, there’s a good chance you’ll lose out on sales and potentially fertile interactions. Mobile machines, such as smartphones, are used by around 42% of the world’s population! Let that sink in for a few moments; how much business could you be missing out on by not appealing to this market?

Setting up an handsome and practical website and/ or portable app is going to require some help. You’ll need a professional designer/ make to get it right, and it’s best to control away from those DIY places like Wix or Weebly; specially if you’re operating an eCommerce store.

2. AI

AI, or artificial intelligence, been increasing as the tech continues to evolve, and it’s abruptly becoming a must-have for businesses everywhere. From the ability to automate social media accountings to organizing money and payments to more effective marketing techniques, AI is limitless in its potential; and it’s still merely in its infancy!

Imagine a nature where you can let a computer run your business. This computer employs machine learning to improve sales, market research, purchaser reach, and so much better. While the tech certainly has its detriments, developers are endlessly trying to improve and perfect this amazing tool every year.

Pretty soon, you won’t even have to reach out to purchasers, the AI will do it for you! Once a connection is established, you’ll then be able to take over the interaction, but with an AI system, your reaching will be further than ever.

3. Digital Conferencing Services

Remote converges are becoming the new standard for businesses all over the world. No one likes those long in-person cross if we’re being honest, and digital discussion application has provided precisely the escape we needed from the bland conference rooms of the past.

Digital conference services make the perturb out of multi-caller and long-distance calls and fully slash the price of such services. Traditional landlines bill an arm and a leg for long-distance calls, but with digital conferencing, you won’t pay long-distance fees. Anyone with an internet linkage can attach your call anywhere in the world!

Ditch the aged landlines and upgrade to a digital seminar tool for a fully changed meet know. With extras like video conferencing and screen sharing, you can take your calls to the next level; performing them even better than those boring in-person gratifies.

4. Cloud Storage

Don’t settle for simple hard drive storage for your startup. Cloud storage is the new standard for business, as it stipulates a secure and shareable system that you can pretty much save got anything to. The more storage you need, the higher the cost will be, but somewhere around 1TB of storage is frequently enough for most startups.

Google Drive offerings up to 15 GB of shadow storage for free with a Google account, but you can also opt for something like Microsoft’s OneDrive; which provides Microsoft Office and 1TB of storage for merely$ 7/ month! How’s that for inexpensive storage?

5. A Good Network

A good network for employees to work on is essential. Fiber optic internet is about the best you can currently get, but there are other options like satellite and hotspot. Whichever option you choose, you’ll want to sign on with a reputable companionship and be sure you’re providing fairly bandwidth for daily tasks.

Good structures can make all the difference in increased productivity of your startup, as faulty internet acquaintances can leave jobs unfinished and squad members frustrated. It’s irritating fairly when a residence joining is sporadic, but imagine working in an office where the internet incessantly goes out!

The Take-Away

These tech implements will help your startup flourish and reach the goals and targets you’ve adjusted for its first year. From improving conference calls to internet bonds and exercising AI, these five tech speculations are well worth the cost in the end. Don’t be afraid to enlist technology to help with your success!

The post 5 Tech Investments That Are a Must For Your Startup materialized first on Green Prophet | Impact News for the Middle East.

Read more: greenprophet.com

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.

Looking for a side hustle to make extra money on the side or even to replace you…

Searching for a side hubbub to stimulate extra money on the side or even to change your daytime place? These 17 manipulate from residence and online undertakings have the potential …

Read more: etrafficlane.com

Work From Home Jobs | Make Money Fast

Work from home errands | Make money online If you are looking to make money online fast in this video I give you the excellent opening with the 25 dollar …

Read more: etrafficlane.com

The 11 Best Social Media Dashboard Tools & Apps

When implementing your social media strategy, it’s easy have discovered that manually affixing on variou different websites, multiple times a day, isn’t optimal for your busy planned. But it’s not easy to tell from a baseline or pricing page which tools are not only the best for effectivenes but best for your business.

Instead of spending hours of extra research combing through all of your options and sitting through countless demos and free tribulations, we’ve gathered a schedule of the best social media dashboards that fit your budget and brand.

These social media dashboards are optimized for every type of SMB; whether you’re a social media team or a party of one, these apps will help you accomplish your goals in a reorganized, efficient way.

1. Later Price: $ 9, $19, $29, $49 per month, and enterprise pricingWhy it’s enormous: Instagram scheduling

While you can connect Facebook, Twitter, and Pinterest sketches, Later is best for Instagram scheduling. This is because of its image-based content calendar scheduling, so you can see a bird’s eye view of your brand in a monthly, visual format.

later scheduling example

Image Source

Later is also an Instagram partner, which intends it integrates with Instagram’s API. This partnership means your account information will stay totally safe, “whats important” for Instagram Business details that have Shopping set up.

2. Sendible Price: $29, $99, $199, $299 per monthWhy it’s enormous: Agency-based administration

Are you a social media or selling enterprise? Sendible may be the answer to unkempt management: it’s a implement fit for an agency with patrons. It is contributing to rationalize how you cope labels and presents a couple distinct boasts that help you succeed.

sendible report example

Image Source

Sendible has a royalty-free image search tool and a Canva integration. Sendible also has social listening tools, a Reports function, scheduling, and pole previews. To set it simply: this is a full dashboard and suite of tools to put your client notes all in one place.

3. Tailwind Price: $9.99, $799.99 per month, and enterprise pricingWhy it’s huge: Pinterest and Instagram management

Tailwind is a very unique program, providing services for two apps ordinarily not paired with each other: Pinterest and Instagram. It sees smell, nonetheless, considering both apps focus on visual multimedia. Offering a full media dashboard with scheduling, social listening, and analytics tools, Tailwind also has a few interesting program-specific services.

tailwind report example

Image Source

First, it commits suggestions about how to improve Instagram and Pinterest performance. It too comes with a mode to promote Pinterest content and control Instagram user-generated content. If your label is heavily focused on visuals, Tailwind may be right for you.

4. Sprout Social Price: $99, $149, and $249 per customer per monthWhy it’s enormous: Team-based administration

Sprout Social is a dashboard platform that’s focused entirely on social media crews. What you get for your money is a full suite of implements, including alternatives that allow you to create and schedule poles, social listening tools, and most of all: analytic data.

sprout social report example

Image Source

The analytic tools are the glowing ace of Sprout Social. Expansive, in-depth reporting is available. If that’s a focus for your firebrand, consider Sprout. They make the reports so professional and easy to read, there’s no editing required.

5. MeetEdgar Price: $49/ monthWhy it’s immense: 100% automated scheduling

MeetEdgar is an app with a different approach to social media conduct, is. All users do is upload categorically-based content into their account and organize time slots for when they want their account to post said content.

meetedgar category example

Image Source

Then, according to the time slots and lists, the app will schedule and upload content. If you crave your Twitter account to post a meme at 11 AM on a Thursday, MeetEdgar would search through the “Meme” category of content you’ve once uploaded, planned, and announce it.

Managers might like this option, if they don’t have enough time to constantly schedule and upload material. They can plug in their entire content docket at the start of the month and remove the heavy lifting for the next few weeks.

Post-enhancing dashboards such as these three can take care of your social strategy without losing any of quality.

1. TweetDeck Price: FreeWhy it’s immense: Twitter rush conduct

TweetDeck is amazing if you’re tired of flipping back and forth through the differences between tabs on Twitter. It’s a free propagation of chirp( no download necessitated) that automatically gives you your account’s Home, Notifications, Trending, and Messages in a dashboard view.

tweetdeck dsahboard example

Image Source

This app is especially handy for posting immediately. You can engage with your Twitter in-app, and it is like a much faster method of ranging your history than the in-browser functionality. Plus, TweetDeck automatically updates with any new notifications.

2. HubSpot Price: Free plan, or $50, $800, $3200/ monthWhy it’s huge: All-in-one social media application

With HubSpot’s social media management tool, you get an all-inclusive package. Connect up to 300 reports and planned up to 10,000 uprights a few months. Plus, for super in-depth planners, you can schedule posts up to 3 years in advance.

hubspot social media analytics exampleHubSpot’s social media conduct features include monitoring mentions and involvement, and stipulates full analytic reports. You’re able to schedule affixes all in one place, without leaving the system.

3. TweetStats Price: FreeWhy it’s huge: Free basic Twitter analytics

This little website is super handy if you don’t have the budget to pay for analytic tools. TweetStats can give you the analytics of any Twitter account in about two minutes. The website displays graphs of when you’ve tweeted, the loudnes of tweets, duration you often tweet, and your most used words and hashtags.

tweetstats analytics example

Image Source

Using TweetStats is especially supportive if you want to view the ecosystem of your Twitter. Are you staying on-brand? Are you meeting your tweet goals? What hashtags are you able hoist the use of?

4. TubeBuddy Price: Free plan, or$ 9, $19, $49 per monthWhy it’s enormous: YouTube management

If you have a large YouTube presence, consider TubeBuddy. TubeBuddy offers a hefty collection of perks to present a full dashboard. Categories include video dashboard, video SEO, majority processing, publicity, data& experiment, and productivity.

tubebuddy card template

Image Source

The screenshot above pieces one of TubeBuddy’s card template aspects. Card templates rationalize the process of uploading and finalizing YouTube videos, concluding it easier to sort videos into a playlist on your channel.

You can install the program for free on Chrome, operating kind of like an extension. The free program gives you access to analytics, productivity, and SEO implements to is starting. TubeBuddy is also a YouTube Partner and integrates with Alexa.

5. MavSocial Price: Free plan, or $19, $78, $199, $499 per monthWhy it’s enormous: Visual-based streamlined management

This is a great post-enhancing tool. MavSocial has a focus on visual-based management, and as such, offers unique benefits, like editing multimedia content and a inventory photo digital library. With the editing implements, you can add filters to your photos, cultivate, and sought for royalty-free images.

mavsocial dashboard example

Image Source

On top of all of this, MavSocial has a full dashboard suite, intending you can schedule material and engage with admirers. MavSocial reinforcements YouTube, Facebook, Twitter, and Instagram. The app is also an Instagram Partner.

6. Hootsuite Price: Free plan, $29, $129, $599 per monthWhy it’s enormous: All-in-one social media administration

Hootsuite is a popular social media tool and boastings over 15 million useds. The free programme lets you supplement three social details from different platforms on one screen and has a limit on how many uprights are available to make.

hootsuite dashboard example

Image Source

While user-friendly, Hootsuite is an swelling app. You can create ads, rolling an ROI report on those ads, and also has options to schedule and form poles. Note that you can only post on your Instagram use the scheduler, if you have an Instagram Business account.

Every business is unique, and so is every social media dashboard. Because of that, observing the best fit can be daunting. Covering all your cornerstones can be simplified with a social media dashboard, as well as construct their home communities and social presence.

If you want to take a crack at house your own content calendar that’ll help you plan your social media affixes, check out our commodity here.

increase website traffic free

Read more: blog.hubspot.com

Wealthsimple Review 2019 – Robo Advisor & Wealthsimple Trade [UNIQUE PROMO]

I’ve been putting off writing a Wealthsimple review for a while now due to the fact I personally do not personally use robo advisor, instead preferring to cut costs to the bone with my Questrade, my top rated discount brokerage, DIY strategy. 

auto credit v1

Now that Wealthsimple Trade has launched, and the robo advisor service has gotten so popular, I figured that it was time to take a serious look at the service. 

If you’re the TLDR type, then this Wealthsimple review might be a bit lengthy for your tastes.  Feel free to navigate using our table of contents to jump around.

Below, you can find my Wealthsimple review summary and rating:

Wealthsimple Robo Advisor: Scoreboard










  • Investment Strategy










  • Website and Mobile Usability










  • Fees & Costs vs Mutual Funds










  • Halal & Socially Responsible Investing Options










  • Advice and Personal Finance Help










  • Safety

4.9









Review Summary

Wealthsimple is the largest robo advisor in Canada. Thanks to a simple onboarding process, easy to use platform, and $0 account minimum, it’s a favourite among Canadians. Plus, for new customers, Wealthsimple will pay any transfer fees for those who want to switch over.

However, while these factors all contribute to making Wealthsimple one of the top robo advisors in the Canadian market, there’s a whole lot more to this company that has allowed it to earn my stamp of approval. 

Promo Offer: $10,000 Managed for Free!

No Code Required – Just Button the Link Below

.wp-review-3696.review-wrapper
width: 100%;
float: left;

.wp-review-3696.review-wrapper,
.wp-review-3696 .review-title,
.wp-review-3696 .review-desc p,
.wp-review-3696 .reviewed-item p
color: #555555;

.wp-review-3696 .review-title
padding-top: 15px;
font-weight: bold;

.wp-review-3696 .review-links a
color: #1f277a;

.wp-review-3696 .review-links a:hover
background: #1f277a;
color: #fff;

.wp-review-3696 .review-list li,
.wp-review-3696.review-wrapper
background: #ffffff;

.wp-review-3696 .review-title,
.wp-review-3696 .review-list li:nth-child(2n),
.wp-review-3696 .wpr-user-features-rating .user-review-title
background: #e7e7e7;

.wp-review-3696.review-wrapper,
.wp-review-3696 .review-title,
.wp-review-3696 .review-list li,
.wp-review-3696 .review-list li:last-child,
.wp-review-3696 .user-review-area,
.wp-review-3696 .reviewed-item,
.wp-review-3696 .review-links,
.wp-review-3696 .wpr-user-features-rating
border-color: #e7e7e7;

.wp-review-3696 .wpr-rating-accept-btn
background: #1f277a;

.wp-review-3696.review-wrapper .user-review-title
color: inherit;

“@context”: “http://schema.org”,
“@type”: “Review”,
“itemReviewed”:
“@type”: “Thing”,
“name”: “Wealthsimple Robo Advisor: Scoreboard”
,
“reviewRating”:
“@type”: “Rating”,
“ratingValue”: “4.9”,
“bestRating”: 5
,
“author”:
“@type”: “Person”,
“name”: “FT”
,
“reviewBody”: “<span style="font-weight: 400">Wealthsimple is the largest robo advisor in Canada. Thanks to a simple onboarding process, easy to use platform, and </span><b>$0 account minimum</b><span style="font-weight: 400">, it’s a favourite among Canadians. Plus, for new customers, Wealthsimple will pay any transfer fees for those who want to switch over. </span>rnrn<span style="font-weight: 400">However, while these factors all contribute to making Wealthsimple one of the top robo advisors in the Canadian market, there’s a whole lot more to this company that has allowed it to earn my stamp of approval. </span>rn<h3>Promo Offer: $10,000 Managed for Free!</h3>rn<em>No Code Required – Just Button the Link Below</em>rnrn[su_button url="https://milliondollarjourney.com/recommended/wealthsimple" target="blank" background="#1f277a" size="8" wide="no" center="yes" title="Free sign up with special promotion"]Sign Up Today & Receive Promotion[/su_button]”

 

Why is Wealthsimple Canada’s Leading Robo Advisor

There’s a reason why Wealthsimple is Canada’s biggest and most popular robo advisor. However, before I dig into what makes Wealthsimple such a standout in its field, let’s first take a second to explain what a robo advisor is and Wealthsimple’s approach as a robo-advisor.

Intro: What is a Robo Advisor?

The first thing you need to know is that a robo advisor, despite the name, is not a robot. The investment process is automated (after you set it up the first time) however, that automated process is created, run, and monitored by a team of very knowledgeable financial professionals who are also available for customer service and financial advice. 

Robo advisors have come to light over the last few years as a middle-ground for Canadians who are looking for an alternative to the big brick-and-mortar banks but are not comfortable using DIY methods. The goal is to create an easy-to-use investing process that will allow clients to make the most of their money without the hidden fees and costs often associated with traditional banking methods.  Perhaps the best part about robo advisors in my opinion is that they allow Canadians to setup a quick and easy way to automate their investing using an index-based philosophy..

The Wealthsimple Approach

The Toronto-based team behind Wealthsimple (wealthsimple.com) describes its mission as the following: 

We provide world-class, long-term investment management without the high fees and account minimums associated with traditional investment managers. We invest your money in a globally diversified portfolio of low-cost index funds modeled after the same Nobel Prize-winning research used by the world’s savviest investors. Our cutting-edge technology helps you earn the best possible return on your money, while also lowering your tax bill.

This means we do things like automatic rebalancing, dividend reinvesting, and tax loss harvesting services that most people couldn’t afford until now or found too time-consuming and tedious to do on their own. Our financial advisers are always available when you need them. They can help plan your financial milestones and answer questions you might have about potential risks or what sort of investment accounts you should have.

The Nobel Prize-winning research they are referring to is the Modern Portfolio Theory done by Harry Markowitz.  Wealthsimple is quick to tell users that their approach is based on this tried and tested work. If you are familiar with ‘couch potato investing’, then you’ll have an idea as to how Wealthsimple manages your money. We’ll dig more into how it works later on in this Wealthsimple review. 

The Team Behind Wealthsimple

As mentioned above, robo advisors are backed by financial experts who create and monitor the algorithms. Additionally, there are financial experts to reach out to with any customer service inquiries or, even for financial advice. 

best free website traffic generator

From wealthsimple.com

While robo advisors have been around for a couple of years now (Wealthsimple started in Toronto in 2014, and was founded by Michael Katchen), many Canadians are still hesitant to switch to one because they are still categorized as new. It makes sense, ‘new’ isn’t always a word you want to associate your hard-earned money with, however, you can breathe easy with Wealthsimple knowing that this particular Canadian robo advisor is “powered” by Power Financial – one of Canada’s largest and wealthiest companies.  As of 2019 Power owned 89% of Wealthsimple and had invested over $200 Million in the company! Plus, Canada’s largest robo advisor has grown up before our eyes and really isn’t that young anymore.

Wealthsimple Review: How it Works

To get started with Wealthsimple you can have an online, email, or phone discussion with an advisor to discuss what they think is the best option for you taking into consideration your goals and risk tolerance. Don’t be afraid to ask questions, remember that the Wealthsimple representative you are speaking to is an advisor and while they may not be able to answer everything off their head (mainly when it comes down to the more detailed, complex questions), they will answer your questions with your best interests at hand. 

if(window.SUImageCarousel)setTimeout(function() window.SUImageCarousel.initGallery(document.getElementById(“su_image_carousel_5de8845e7964b”)), 0);var su_image_carousel_5de8845e7964b_script=document.getElementById(“su_image_carousel_5de8845e7964b_script”);if(su_image_carousel_5de8845e7964b_script)su_image_carousel_5de8845e7964b_script.parentNode.removeChild(su_image_carousel_5de8845e7964b_script);

One of the reasons I’m such an advocate for Wealthsimple is because as a Portfolio Manager, they have a fiduciary duty, meaning that the company and their employees legally HAVE to give you advice and recommend investments with your needs and best interests in mind. Strangely enough, this is not mandatory of all financial advisors in Canada, and many people at big banks that recommend mutual funds have no fiduciary duty to you at all!

Once you have chosen your account (for example, RRSP or TFSA), your funds will be split into several different asset categories including both Canadian and international equities, real estate, and bonds. 

Wealthsimple Investing Approach and Returns

As I mentioned earlier our Wealthsimple.com review, the robo advisor approach is basically an automated form of couch potato investing. For those who aren’t familiar with this term, couch potato investing is a passive investing strategy that relies on building a diversified, low-maintenance portfolio. The goal is to deliver high returns at a low cost and has been shown to reduce typical investor costs by up to 90%. Not only does this strategy save you money, but it has also been proven to beat the vast majority of mutual funds and “money experts” that traditionally handle your investments in Canada.

The couch potato strategy (which has also been called index-investing or passive investing) is not new. It’s been around for ages, but is becoming more and more popular in part thanks to robo advisors like Wealthsimple, who allow everyday folks, rather than just finance experts, to build and maintain these types of portfolios. 

Personally, I’m a strong believer in taking this type of approach to investing, and I’m a fan of how transparent Wealthsimple is when it comes to their investment strategies. When asked what kind of returns to expect, Wealthsimple responded with the following:

Expected returns are impossible to predict and are out of your (and our) control. We prefer to focus on things we can control: fees, diversification and emotions. The stock market will take care of returns over the long term. The key is to stay disciplined and stick to your strategy in order to build wealth. You can read more about our investment strategy here.

While Wealthsimple makes it clear that expected returns are impossible to predict (this is the truth for any investor, don’t let someone try to convince you otherwise), they go an extra step in their transparency to show you how your investments are performing and what your returns actually are in their monthly statements and in your online account.

Wealthsimple Socially Responsible and Halal Investing

Investors may also be interested to know that Wealthsimple offers Socially Responsible Investing (SRI) as well. Socially responsible investing is becoming more and more popular these days, especially among millennials. 

To clarify, socially responsible investing is a type of investing that allows you to put your money towards companies and businesses that align with your environmental and social values. A Wealthsimple SRI portfolio will include the following ETFs:

  • Low Carbon (CRBN): Global stocks with a lower carbon exposure that the broader markets.
  • Environment (XEN): Canadian stock that prioritize environmental and social concerns.
  • Cleantech (PZD): Cleantech innovators in the developed world
  • Government Securities (ZFM): Canadian federal bonds with AAA rating
  • Human Rights (VIDI): Global stocks with a positive record on human rights and corruption. 

I’ll admit that socially responsible investing isn’t at the top of my priority list, however, I do agree that it is a good concept and think it’s a great way to entice younger generations to become more involved in their money decisions. Of course, people tend to be more involved with SRI portfolios because some of the companies may not be up to your personal standards, so that is something to keep in mind. Additionally, there is an added premium to SRI, about 0.2% MER since it is much more niche. However, it’s great to know that the option is there should that be important to you. 

As well as socially responsible investing, Wealthsimple also offers Halal Investing. This portfolio is optimized for performance by using companies that align with Islamic law. This means no businesses that profit from gambling, weapons, tobacco, or other restricted industries. Additionally, this type of investing will not include any businesses that obtain a significant percentage of their income from interest on loans. All investments are screened by a group of Shariah scholars to ensure that they are up to the expected standards. 

Hallal portfolios include 50 stocks chosen based on the designated required principles as well as their ability to be optimized for diversification. Examples of these stocks include Pfizer Inc, Canon Inc, and Johnson & Johnson. As with other Wealthsimple investment portfolios, the goal of Halal investing is to minimize risk and maximize reward and, if you are wondering about the fees, there are no additional fees to Wealthsimple’s halal investing, it follows the same fee structure as other Wealthsimple investments.

 

Wealthsimple Review: Costs and Fees

Wealthsimple.com currently has three different levels: Basic, Black, and Generation. I’ll dig more into these in a minute, but when it comes to fees, the Wealthsimple management fees differ depending on which of these levels you choose. It will either be 0.5% or 0.4%.

Now, on top of the Wealthsimple management fees you need to include the MERs of the underlying ETFs. The total MER for your investment in a basic portfolio will be 0.5%-0.7%.

If you are looking into socially responsible investing (SRI), as mentioned previously, you will have slightly higher MERs, around 0.25-0.40%. This would then bring your total fees (management fees plus MERs) to 0.65%-0.90%. 

ETFs are known for having significantly lower MERs than mutual funds. To compare, consider Wealthsimple’s overall fees (0.5%-0.7% for non SRI accounts) versus actively managed mutual funds which are more like 2%-2.5%. That means the average Canadian is paying 3-4 times as much for their mutual fund investments, than they could be paying for an objectively superior investment product! 

Now that you have an idea of the Wealthsimple costs and fees, let’s take a look at the different Wealthsimple levels. 

Wealthsimple Basic

The Wealthsimple Basic Account is for clients who have up to $100,000. This account has a 0.5% fee which includes trading, account fees, rebalancing costs, and transfer fees. It’s a simple account, nothing too fancy. That being said, the fees are competitive compared to other robo advisors on the market, plus you also get financial advice included as part of the package.

Wealthsimple Black

The Wealthsimple Black account is a premium service for clients who have more than $100,000. If you have this account, your management fee drops from 0.5% to 0.4%. It may not seem like a lot, but trust me, that adds up quickly over time!

Black account holders receive all the benefits included in the basic account: trading, account fees, rebalancing costs and transfer fees, and free expert advice. 

However, Wealthsimple Black members also get a few additional perks including: 

  • Tax loss harvesting: this can be tricky to figure out on your own, but if it makes sense for you, the Wealthsimple team will use tax harvesting strategies to create tax savings in your portfolio. For those who are unsure of how this works, essentially they will sell any investments that have lost their value, put in a tax deduction, and then buy a similar asset. It’s not for everyone, but if it applies to your financial situation, this can also save you quite a bit of money. 
  • Financial planning sessions: book a 1 on 1 call to talk to an expert advisor about your financial strategy or plans for retirement. 
  • VIP airport lounge access at over 1,000 lounges across 400 cities worldwide. These types of passes usually cost about $25+ per session, so if you travel a lot this alone could save you hundreds of dollars each year, plus make your travel experience much more enjoyable. 

Wealthsimple Generation

The Wealthsimple Generation account is the top tier, and is for those who have deposits of $500,000 or more. This plan has the same features as Wealthsimple Black: trading, account fees, rebalancing costs and transfer fees, free expert advice, 0.4% management fee, tax harvesting, financial planning sessions, and VIP airport lounge access. 

On top of the above perks, a Wealthsimple Generation account also comes with two additional benefits.

  • 50% off the Medcan Comprehensive Health Plan: This includes an annual check up, up to 15 diagnostic tests, same day (or next day) appointments, travel health support both in Canada and abroad, and genetic tests. This 50% discount will save you over $2000. 
  • Personalized financial report: the Wealthsimple team will help you strategize your financial goals and draw up plans for retirement, ways to preserve your wealth, and can analyze your cash flows and make financial projections to better help you manage your money. 

Both the Wealthsimple Black and Wealthsimple Generations platforms are excellent values.  The 0.4% MER means that costs are quite reasonable, and if you think about it, the tax harvesting feature alone can save you enough to cover that 0.4% fee. Plus, as a traveller, I can really appreciate the airport lounge pass. After all, who doesn’t want to feel like a VIP? 

Another thing to note, if you are thinking of switching over to Wealthsimple from your current bank, Wealthsimple will cover all of your transfer fees.

 

Wealthsimple RRSP Accounts and TFSA Accounts 

Wealthsimple offers a range of account types including:  

  • RRSP
  • TFSA
  • RESP
  • Joint
  • Business
  • LIRA
  • Personal
  • RRIF

Most Canadians are just looking for the easiest way to investment money within a registered account.  It is incredibly simple to open a Wealthsimple RRSP, TFSA, or RESP account. It can be done completely online, is almost instant, and after hooking up your chequing or savings account, you can conveniently set up an automatic contribution that puts your savings on autopilot.

No more worrying about RRSP season and last minute investment decisions.  Just a safe, simple, proven investment strategy that you can set and forget about until you’re ready to make a large-scale change.  While Wealthsimple obviously offers a wide variety of accounts, these three registered accounts represent the total investing activity for many Canadians, and are a main focus for Wealthsimple.  

If you have any questions about how the Wealthsimple RRSP or TFSA work, their online chat feature (or their old school phone assistance) will be able to efficiently answer any questions you might have about where to contribute or how to use the platform.  About the only questions their first line of assistance might struggle with is in-depth niche topic help for something like investment trusts. (If you don’t know what an investment trust is, don’t be alarmed – it’s very unlikely that you’ll ever need to.)

 

Wealthsimple High Interest Savings Account

Interestingly, Wealthsimple was the first Canadian robo advisor to offer a High Interest Savings Account (HISA). Personally, I’m not the biggest advocate for using HISA’s for long-term savings (such as retirement), however, for short-term goals like a vacation or buying a car, a HISA is a great option.

Right now, Wealthsimple offers a 2% interest rate for their high interest savings account. That’s a flat fee; it’s not a promotional rate, it doesn’t go away after a certain period of time, 2% is what you get. Additionally, there’s no minimum balance requirement (great for those just starting saving), and you’ll get unlimited transaction fees.  That 2% is about 1.95% higher than what you’re likely getting in your big bank chequing account, and 1.5% higher than what many big bank “savings accounts” offer.

While there’s no doubt that the Wealthsimple HISA is a good choice, one of the best advantages to Wealthsimple offering so many account options is that they make it easy to keep all of your savings and investments in one place, which in turn for you makes it easier to manage and keep track of.

The Wealthsimple App

Speaking of the Wealthsimple App, it’s actually pretty amazing. Launched in December of 2014, it was the first app of its kind; an app designed with the specific goal of making investing easier.

Wealthsimple describes their app as having a ‘financial advisor in your pocket’. The app allows you to get in touch with your wealth concierge at the tap of a finger, plus you can easily add funds, keep an eye on your asset allocation, and view your performance. 

On top of creating an easy and streamlined app, Wealthsimple also prioritizes privacy in their app. They go above the simple ‘create a password’ and allow users to use either TouchID or set a unique 4 digit passcode (for iphone) or lock pattern (for Android). This is true for both the Wealthsimple App and the Wealthsimple Trade app. 

if(window.SUImageCarousel)setTimeout(function() window.SUImageCarousel.initGallery(document.getElementById(“su_image_carousel_5de8845e79e10”)), 0);var su_image_carousel_5de8845e79e10_script=document.getElementById(“su_image_carousel_5de8845e79e10_script”);if(su_image_carousel_5de8845e79e10_script)su_image_carousel_5de8845e79e10_script.parentNode.removeChild(su_image_carousel_5de8845e79e10_script);

 

Wealthsimple Review: Is it Safe?

Because Wealthsimple is a still a somewhat new name to people, the most common question I get asked is, “Is Wealthsimple Safe?”

The answer?

Yes!

Wealthsimple is as safe as any banking and investment option in Canada.  They now have more than 100,000 clients from all over the world!auto credit v1

First of all, Wealthsimple is an online business. If they didn’t protect their customers, it would be an instant death for the company. As for how exactly they protect their clients? Wealthsimple uses bank-level security including a 128-bit SSL certificate. For those who are unsure of what this means, essentially it’s a program that will ensure that your personal information and passwords don’t get seen by prying eyes. 

Secondly, Wealthsimple indicates that they also use industry-standard backup programs and firewalls. These will prevent any large-scale problems from occurring as well as work towards backing up information automatically multiple times a day, every day of the week. 

Thirdly, your money invested with Wealthsimple is also protected by outside sources. When you invest with Wealthsimple, your money is insured by the Canadian Investor Protection Fund (CIPF) up to $1 million per account. On top of that, if you have a HISA with Wealthsimple, your money is insured by the Canadian Deposit Insurance Corporation (CDIC) for up to $100,000 (there is optional coverage for up to $800,000 per account, however, in my opinion, if you are keeping that much money in a HISA you may want to rethink your financial strategies). 

Finally, we need to remember the team behind Wealthsimple. These are career professionals who have years in the industry with reputations to uphold. The fact that these individuals have lent their names to the company also instils a strong feeling of trust. Additionally, Wealthsimple is made up of registered portfolio managers that have a legal fiduciary duty to clients. This means that, by law, they have to give recommendations based on the client’s best interest.

With Power Financial running the Wealthsimple show, there is no doubt that this company is in it for the long haul and is incredibly safe!  It should be noted that no investment company can guarantee the safety of investment returns. So within that narrow definition of “guaranteed investment performance” than Wealthsimple – as well as every other investment entity out there – is not 100% safe.  Your portfolio will always be subject to the general performance of the market, and anyone that promises you different is probably trying to illegally sell you something.

A Wealthsimple Promo Offer Coupon for You

Wealthsimple has provided me with a promotion code for readers to manage up to $10,000 free for a full year. This means you don’t pay any management fees for 12  full months as you test the platform out!try this top Canadian robo advisor. 

To take advantage of our Wealthsimple Review Coupon Code simply click below:

 

Wealthsimple Review: Summary

Wealthsimple isn’t the only robo advisor in Canada, but I can honestly say that as of today they are easily the #1 choice in most situations. Here’s what I think makes Wealthsimple stand out in the field enough to be worth considering:

  • Wealthsimple is the largest robo advisor in the country
  • Wealthsimple has a $0 account minimum
  • Wealthsimple is CIPF-insured up to $1,000,000. 
  • Their website and app are incredibly user friendly
  • Wealthsimple will cover your transfer fees to switch over to them
  • Wealthsimple offers easy to understand interactive statements that break everything down for you
  • Wealthsimple is partnered with the Mint App
  • Wealthsimple allows you to invest in fractional shares
  • Wealthsimple automatically re-invests dividend income from your investments back into ETFs that have fallen below the portfolio target you originally set
  • Wealthsimple offers HISA accounts
  • Wealthsimple offers socially responsible investing (SRI) and halal investing

In other words:

OUR RATING:

4.9 / 5

Here’s the simple truth: Wealthsimple is the quickest and easiest way to take a piece of your paycheque every month, and automatically invest it into a diversified portfolio of ETF options from around the world.  I love the investment strategy, I love the simplicity of it. It’s not as cheap as opening a Questrade account and building your own ETF portfolio or purchasing an all-in-one ETF, but it is MUCH cheaper than traditional Canadian investment options.

Ready to start with Wealthsimple? Don’t forget to use our Wealthsimple review link to sign up today and save the fees on your first $10,000! 

 

Wealthsimple Trade – The No Fee Discount Brokerage

Everything we have discussed so far in our Wealthsimple review has been looking at an automated portfolio of basic index ETFs, and would be comparable to other Canadian robo advisors. However, if you are interested in trying to manage your own portfolio you might be interested Wealthsimple Trade. With this option, you make the decisions of how to invest; what to buy and sell on the stock market.

A brokerage account is where you will hold the money that you use to buy/sell stocks. Brokerage accounts with financial planners tend to cost more as you are paying for their investment advice and management skills. Online brokerage accounts, however, have much lower fees and allow you to buy/sell from the comfort of your home.  Wealthsimple Trade would be broadly comparable to Questrade as far as “apple-to-apples” comparisons go – although they have a ways to go before they challenge for my #1 discount brokerage award.

With Wealthsimple Trade, you can buy and sell thousands of stocks. It’s a relatively new platform, and still has a few bumps that they are sorting out and adding to, but one of the major draws of Wealthsimple Trade is that it is $0 commission, which means that they do not add any fees to buying and selling stocks. Most other online brokerage accounts charge for trades, so this factor definitely makes Wealthsimple stand out in the pack. If you are wondering that the catch is, and how Wealthsimple Trade actually makes money if they don’t charge commission, know that Wealthsimple does charge a +1.50% base conversion fee when you make US trades which. Considering that other brokerages charge about 2% on foreign trades, is very reasonable.

On top of the 0$ commission structure, Wealthsimple Trade also has a no account minimum, which makes it extra enticing to those who think they want to dabble with their own portfolios. However, it’s important to remember that this option is for those who know what they are doing. Buying and selling stocks just because someone told you to is not a smart investment technique. That being said, having the freedom to make your own investment decisions can lead to a bigger reward. Just remember to treat it as an investment, not a gambling experiment. 

Wealthsimple Trade has its own app, so you will need to download it as well as the original Wealthsimple app that you already use. However, your bank account will still be linked which means you can get started right away. 

 

 

The post Wealthsimple Review 2019 – Robo Advisor & Wealthsimple Trade [UNIQUE PROMO] appeared first on Million Dollar Journey.

starting a internet marketing business Traffic Generator Bot traffic software auto credit v1 best free website traffic generator free traffic exchange free traffic to my website How To Make Money Online Fast And Free

Debt Payoff Methods: All About the Blizzard Approach

So you have debt. As you probably know, you’re suffering in good corporation. According to the Federal Reserve, total household debt is at a staggering $13.86 trillion — and has been steadily climbing.

While you might be one of millions involved in debt, how you go about paying off that debt is specific to you. In a excellent world-wide, you’d ideally be able to metaphorically take a bazooka and raze your indebtednes in one came swoop.

The reality? You’re most likely juggling a cluster of various types of financial commitments — compensating payment, putting menu on the table, saving for an emergency fund or a down payment on a residence — reaching it harder to focus on crushing your debt.

Realistically, you’d want to tackle your debt in a meticulous manner, focusing on one debt at a time. And while you might have heard of the debt avalanche and obligation snowball procedure, you can also consider what’s known as the debt blizzard method. We’ll delve into exactly what a indebtednes blizzard repayment technique is, and how to know if it’s a solid tactic for you 😛 TAGEND Debt Avalanche Versus Debt Snowball

Before we jump into the debt blizzard approach, let’s go over the two main debt repayment policies: the debt avalanche and the debt snowball. The obligation avalanche is when you focus on paying off your debt with the highest interest rates first. Once your pay with the highest APR is take good care, you move on to the debt with the next highest APR.

Let’s say you’ve been diligently putting $200 a month on that loan with the highest interest rate. Once that’s paid off, you can kick over that $200 to the debt with the next highest interest rate, and so on. The major benefit of the debt avalanche is that you save money on interest fees.

The debt snowball method is when you focus on paying off your debt with the smallest amount first. Once that’s bited in the bud, you oblige serious headway on your pay with the next smallest sum. The best part of the debt snowball procedure? Knocking off a obligation early can give you a bit of a psychological punch. After all, indebtednes fatigue, which is when you ripen wearied from paying off debt for long periods of time, is real.

No matter which repayment plan you to take decisions on, ensure that you are meet the minimum remittances on all your cards. Making minimum pays will assist you eschewed dings to credit and late or missed payment fees.

Debt Blizzard Approach: the Basics

Created by Beverly Harzog, credit card expert and buyer busines specialist for U.S. News& World Report, the debt blizzard approach combinings the snowball and torrent approaches. “To get an adrenaline boost, pay off the smallest debt you have first, which is the snowball method, ” says Harzog. “Then switch to the avalanche method and pay the balance with the highest APR and drive your highway down to the balance with the lowest APR.”

In turn, you get the best of both worlds: By paying off a small debt from the get-go, you derive the potential benefits of feeling a secrete and build impetu early on in video games. And by switch back to the debt avalanche, you’ll save the most money.

How Do You Know It’s Right for You?

If you’re on the fence about which pay method to go with, the debt blizzard is worth a shot. “Some will argue that you should always do the avalanche procedure to save the most money overall, ” says Harzog. “But motivation is essential to getting out of debt.” That’s why the debt snowstorm is one procedure worth considering.

Sure, you might need initial inspiration to get you moving on paying off your debt. But you might not be entirely sold on the idea of paying more in interest costs so you can stay caused during your obligation refund. Remember: If you try the debt blizzard and find yourself losing steam during the debt avalanche period, you can always switching over to the snowball method.

How to Get Started

As with any pay repayment procedure, tally your indebtednes. Figure out the remaining balance, interest costs, and monthly minimum remittances. If it’s installment debt( i.e ., a car payment, student lendsor personal indebtednes ), “know what youre talking about” long you have to pay it off.

You’ll also want to comb over the fine print: What are the costs for late or missed payments? Are there any costs that you could potentially get pummelled with? Are there pre-penalty rewards? In other terms, could you get dinged with a fee for making an early payment?

Next, organize your indebtednes based on different metrics. For speciman, roster them in order of smallest to largest amount, the lowest interest rate to the highest interest rate, and vice versa. From there, you can go about prioritizing your obligations and implementing your refund strategy.

Visualize Your Payoff and Treat Yourself Along the Way

The day you lastly paid for your obligation might seem hard to imagine, peculiarly if you owe a large amount. To keep the end in sight, consider visualizing your obligation payoff by portray a repayment thermometer, Pacman-esque video game grid, or little checkboxes that each represent, say, $100 or $500 of your total debt.

And whenever you reach a checkpoint, don’t forget to treat yourself to something small-time. Of trend, you don’t have to go crazy and do something elaborate or expensive. But dinner at your favorite Mexican restaurant or a few cases dollops of ice cream to celebrate can help you stay motivated.

You Do You

“Getting out of debt is hard, and if you don’t feel hope along the way, you might not be persistent, ” says Harzog. “At the end of the day, the best method to use is the one you will stick to.” Whether you try the torrent, snowball, or snowstorm procedure — or devise something different absolutely — the important thing is that you stick with your payoff contrive. Find a approach that jives with you and you’ll have an easier time making headway on your debt.

The post Debt Payoff Methods: All About the Blizzard Approach showed first on MintLife Blog.

Read more: blog.mint.com

Scared of money? (Why & how to overcome your fear today)

The more I see people talk about money, the more I see how SCARED we are of it.

How we let others poison our views of money.

And how easily we use negative words to describe it.

Here’s an email I got from someone who read my book, I Will Teach You To Be Rich. What do you notice?

“Frick it, I guess I’ll write the email…

Money stresses me out. My parents didn’t teach me anything about it and I’m very dependent right now. I did a year of nonprofit and made about 10k after taxes and it was miserable, so I figured if I can pull that off for one year then I can make it work. And I did! But I don’t know if I’ll hit it this year (it’s a bit depressing and a big source of anxiety). I think time is the name of the game though, the career is moving forward, hopefully, game sales will kick in passive income.

For the “rich life” I’m a simple person. I want enough money to be able to travel. I want to own a dog. I want a kitchen with an island. I want to have a nice desktop and a nice coffee table. My partner doesn’t want to own a house but I kind of do. Since I don’t have a full-time job outside of my freelancing which is currently in a drought period, I don’t have really ANY money, averaging about $250 a week.”

My response:

“Good stuff. Great to meet you

Now I want you to look at your email and count the number of times you use negative words to describe your life/money. How many do you count?”

His response (notice the skepticism):

“Ha, I can’t tell if this was an automated message or not but you got me there!

Depending on your definition, about 6-10.”

6-10 IN A SHORT-ASS EMAIL. (Well, compared to the kinds I write…like the one you’re reading. LOL.) Finally, my response:

It’s not automated.

Good!

Now, can you rewrite that entire email to be POSITIVE instead of negative? Send it over my way.

This guy didn’t even notice his reflexive negativity with money. It’s become like a dull toothache, something he gets used to. And since negativity is his worldview — the “lens” through which he views everything — I guarantee it’s an invisible “drag” on his entire life.

I asked him to rewrite his email to be POSITIVE instead of negative because sometimes, it takes someone pointing out your pattern to shake you out of it.

auto credit v1

When I talk to people about money, here are the most common words they use to describe it:

“Anxious”

“Stressed”

“Is it too late”

(What words come to mind for you?)

But it’s even more revealing when you listen to the ways they talk about money.

What they say: “What’s my Rich Life? Well, I just want to go on vacation with my kids a couple times a year, nothing fancy…”
What they really mean: Notice those last two words — “nothing fancy.” When people talk about their Rich Lives, they almost always minimize their own dreams. When you’ve spent your entire life worrying about what can go wrong with money, it’s almost impossible to dream.

What they say: “How do I KNOW your programs will work?” OR “Will this book work for me if I live in Bolivia and I have a lazy left eye and I only eat mussels on Mondays?”

What they really mean: “I have a finite amount of money. If I spend it here, I need to know it will absolutely work, otherwise, I will have wasted my money…and there’s no way for me to ever earn more”

free traffic exchange

Are you about to say what I think you’re about to say?

What they say: “Even if I made $250,000/year, I wouldn’t eat out at a nice restaurant like that. What a waste!”

What they really mean: “I have never eaten at a place like that and I don’t want to be the kind of person who “has” to go there to enjoy food. I’m simple.” (One level deeper: “I’m nervous that if I ate there, I might actually like it. I don’t trust myself to avoid going there every single week and spending all of my money”)

What they say: “I shouldn’t get a credit card.”

What they actually mean: “I don’t trust myself to control my spending, therefore I need to restrict myself”

What they say: “I went to [ANY FOREIGN COUNTRY] and they tried to rip me off because I was an American”

What they really mean: “Well, yeah, I could have afforded an extra $5 for those postcards…but I HATE BEING RIPPED OFF. If someone else is winning and I am losing, I HATE IT”

So many of us make day-to-day money decisions, never understanding the “invisible scripts” that actually guide these decisions. And in America, money is driven by FEAR.

FEAR that we’ll never have enough.

FEAR that we can’t make more of it.

And FEAR that someone will judge us for our spending — or even what we want to spend on.

I hate this. That’s why I show you how to identify your Money Dials, the things you LOVE spending on, then I show you how to spend MORE on it.

Free Traffic Generator

Talking to a small group about money psychology. On book tour, I hosted private events in NYC event at Thompson Square Studios (NYC) and our Hills Penthouse (West Hollywood). As a reader of IWT, you can get your first month free at either of these locations. Please reach out directly to chelsea@thompsonhousegroup.com

I also show you how to get psychologically comfortable with the idea of changing your identity. People say “Money changes people,” in disgust, as if it’s a bad thing. Money should change you! It should let you dream bigger, it should let you live an easier or more adventurous life, and it should let you bring others with you (learn about the psychology of the wealthy).

But you can’t do that if you’re stuck thinking about money as a source of anxiety and fear.

An interviewer recently asked me what I would change from my 20s. I said, “I would have more FUN. I was too rigid. But the times where I had the most fun and I was the most successful was I just loosened up and tried a bunch of new things”

With money, try these different approaches.

Know that you can trust yourself. Know that you can eat at a really nice restaurant once for the experience — and truly enjoy it — but trust that I’m not going to trip and fall and end up going there every single week. You can also use credit cards without overspending (follow the systems in my book). You can pay off your debt and stay out of debt. You can become Rich and do good. Trust yourself.

Know that you can create more money. You can negotiate your salary — or find an entirely new job. You can start a business, even if you don’t have an idea. You can build your network to sidestep people with 10 years’ more experience than you — and get perks you’ve never dreamed of. All of those things can dramatically increase your income. Above all, your money is not a fixed pie that you have to exhaustively guard and protect. You can also expand the size of your pie.

Stop being afraid of waste. In puritanical America, one of the biggest no-nos is WASTE. Oh no! Ramit, if I start spending more on the things I love, I might “waste” some of my money!

How do I “KNOW” that your book will solve my exact, highly specific problem that I worry about every fucking day of my life? If it doesn’t, I’ve wasted $10!!!! Scammer!!!

Oh no! Ramit, what if I hire someone and they don’t handle my SEO, my WordPress uploads, design all my graphics, triple my conversion rates, write my entire email funnel, and create a new webinar system? I might have WaSTed the $13/hour I tried to pay them!!

Oh no, there’s so much government waste! We should ONLY focus on cutting government waste. Especially that one thing I really hate. What? It only represents 0.03% of total spend? No, that can’t be right. Anyway, we need to handle WaSTe. Also, don’t talk about raising my historically low taxes, you socialist.

If you spend your entire life worrying about waste, you miss a simple fact of life: In any system of sufficient complexity, there will always be waste. Yes, you should take measures to control it, but you should also accept that there will be a certain amount of waste — and move on!

I know that I’m going to buy courses and attend conferences that won’t be perfect for me. I know I’m going to eat at a restaurant that’s unmemorable. I know I’m going to make bad hires.

SO WHAT?

I’d rather try new experiences and learn with each one…than to sit back and let the bogeyman of “waste” scare me from doing anything at all.

So much of personal finance advice take your latent fears and heightens them.

NO! Don’t use a credit card, you might overspend a little!

NO! Don’t eat out at that restaurant, what a waste!

NO! Don’t try to negotiate your salary, you should just be happy you have a job!

If you spent the last ten years worrying about your waste and all the bad things you might do, you’ve accepted the message that you should be SCARED. That you’re an organism that simply reacts to whatever’s around you — that you have no agency or control.

Meanwhile, the people who have gone on offense have taken control of their own finances, their own psychology, started to earn more, and happily spend on the things they love. No anxiety. Just confidence and the systems to back it up.

You listen to these fears and end up frightened and anxious, sitting around worrying about all the things that can go wrong with money.

Or you can go on offense. You can take control of your money.

You can build a plan to spend extravagantly on the things you love.

You can EMBRACE making mistakes, knowing you’ll waste a little money, but it’s fine, because over the long term, those mistakes are minor, and you can create more wealth for yourselves.

You choose.

In my book, I wrote this:

Play offense, not defense. Too many of us play defense with our finances. We wait until the end of the month, then look at our spending and shrug: “I guess I spent that much.” We accept onerous fees. We don’t question complicated advice because it’s given to us in a language we don’t understand. In this book, I’ll teach you to go on offense with your credit cards, your banks, your investments, and even your own money psychology. My goal is for you to craft your own Rich Life by the end of Chapter 9. Get aggressive! No one’s going to do it for you.

My dream is for you to remove the shackles of negativity around money. To decide what you LOVE spending on, and spend more on it, so money goes from a source of anxiety and doubts to a source of joy and possibility and purpose.
free traffic to my website

Get my book here

And comment here if this resonates with you. I want to hear from you.

Scared of money? (Why & how to overcome your fear today) is a post from: I Will Teach You To Be Rich.