What is An Investment Objective?

In this post, we are going to explain to you what is an investment objective in a very easy way, so let’s start.

In simplest words, the process of earning money by using the money that we already have in our hands is called investment.

Though investment should still be considered as important as saving money, many of us understand the value of investing.

Cash, fixed deposits, bonds, stocks, cryptocurrencies, etc., are the most popular asset classes for investment.

As a matter of fact, neither okay the is it classes above have the same rate of compounding/ability to produce returns, nor do they involve the same amount of risk.

To know the objective of investment, we should first have a brief introduction about the most popular as it classes of investment.

A Brief Introduction To Most Of The Popular Investment Options:

  • Gold
  • Stocks (Equity)
  • Bonds

Let’s discuss this in detail now.

Gold:

The classic way of investment, Gold has been everybody’s first choice of investment, and to date, it is considered one of the most trusted and safest ways of investment.

But compared to earlier times, the way of investment in Gold has changed a bit. Currently, people do not just invest in physical Gold; they also invest their money in digital Gold, which offers more flexibility and other facilities.

Stocks (Equity):

Equity stocks are the best asset class of investment. Not only do they offer many higher returns than most traditional asset classes like bonds or Gold, but they have been the key player behind the creation of the wealth of today’s billionaires.

Dividends paid by the company to the shareholders are also a great producer of profits.

Bonds:

Bonds are agreements usually made with the government or banks where the investor sanctions loans to the borrower in return, for which the investor gets a contracted fixed amount of returns over time. Though the rate of returns is not usually as high as stocks, it is a fixed source of income.

Now, let’s get back to the topic – the objective of investment:

A man without a goal is like a ship without a rudder.”

Just like we all like to set goals for our educational, work, and personal life. We often need to pay more attention to defining a particular goal for our investment.

Setting a goal for our investment can help us to determine the-

  • How much amount to invest?
  • Where to invest your money / How to do the allocation of your wealth-
  • How much risk to take?
  • How long to keep invested?
  • When to exit/sell off your investment?

The first question – How much to invest – is a vital question to ask yourself before making any investment.

There is neither a fixed amount for that nor a fixed percentage.

The investment amount depends on your current earnings and how many liabilities you currently have. And it directly has a connection with your risk-taking abilities.

The next question to ask yourself is where to allocate your earned money.

You want to grow your money and will don’t want to invest your money for negative returns. So wisely choose the asset class you want to invest your money in.

For example, if your goal is to have a safe and secure life even after retirement, the best asset to invest in will be pension funds.

You may have hundreds of reasons to invest, and it’s you who knows why you need to invest and how much you have to invest. It may be because –

  • You want to create a handsome amount of wealth.
  • Your child’s education.
  • Your desire to buy something expensive.
  • You want to build a new startup.
  • You want to tour the world.

Remember, the more returns you expect, the more risk you will take.

Conclusion

In the end, the investment objective differs for every individual. Your personal financial advisor may be the best person to help you in this case. But, because you have read the article, we have well-understood the needs of investments. We hope that you will remember these things in the future, which will guide you to become a better investor.

Best Life Insurance Companies

After researching for a long time, we have brought you the list of Best Life Insurance Companies 2022 along with their pros & cons, so without wasting time let’s start.

If somebody asks us – ‘What are some important things in your life?’, you may come up with answers like – time, health, work etc. But, if we introspect the question sincerely, we shall ultimately come up with the answer – ‘our family.

In reality, though time, health, and work are some vital things in our life, we ultimately save our time to do work, do work for our family members and maintain good mental and physical health for our family members. As all things in our life if directly connected to our family members and everything ends up with them, why not take steps to secure them?

Nothing in the world is certain‘,

And so is our life. Everything reminds us of what our life is, from deadly diseases caused by our changing lifestyle to utterly expected road accidents.

That’s why we always want something that will continue to support our family in our absence – life insurance does exactly that.

In this article, we are going to discuss the best life insurance companies, but it won’t only be limited to that. We shall also talk about some essential things about life insurance, and in the end, we shall also talk about some differences between endowment life insurance plans (the classic insurance plan) and term insurance plans.

Best Life Insurance Companies 2022

  • Lincoln Financial
  • Protective
  • Prudential
  • Pacific Life insurance
  • Mutual of Omaha life insurance

Lincoln Financial

Lincoln Financial is one of the best life insurance companies in the United States. It has got an ‘A+’ rating in the grading system by AM best rating on a scale of A++ to D, where A++ is the best rating & D is the lowest rating.

Lincoln Financial offers various policy options that let you choose the best policy that suits you.

The policies & the terms of Lincoln Financial are not only affordable but also value for money.

But, the main problem with Lincoln Financial is that they are not quite transparent with their quotes. That’s probably the reason why you can’t find any quotes on their website.

In addition, the company’s website can also be somewhat tricky to understand due to the use of unnecessarily complicated words and stuff like that but not only limited to that. This mostly results in a lack of understanding among the policy buyers, and they generally tend to buy the policy that is not made for them rather than going with the policy that for made for them.

And, if you are looking for a lifelong policy plan in Lincoln Financial, you may probably end up with nothing, as Lincoln Financial hardly has a lifelong life insurance plan in general.

Pros of Lincoln Financial

  • Good ratings by analysts
  • Has a good variant of policy options
  • Low internal policy costs

Cons of Lincoln Financial

  • Lack of lifelong policies

Protective

Next up on this list, we have Protective life insurance. Protective is one of the best choices in this category. It has been in this industry for more than 100 years. Protective comes with life insurance plans of even 40-long years. Considering the average lifespan, it can be said that, Protective comes with a lifelong insurance policy.

A noteworthy point of Protective is that they are transparent about their quotes on the internet. You can either call their customer service team or browse their website to learn about their quotes.

Protective is also excellent for term life insurance also. In fact, Protective has been voted as the best-term insurance provider by the public.

Protective offers a lump sum payment to the policyholder’s family in case of mishaps.

Many policies of Protective also contain comprehensive facilities like protection of a child’s future education, protection for family businesses etc.

Protective has also come up with simple & easy-to-use tools on their website, which gives you a brief idea of the policies you should consider if you are finally going to buy a life insurance policy from them.

Pros of Protective Life Insurance

  • Offers both universal life and term life policies
  • Offers many comprehensive facilities with policies
  • Lifelong coverage (of max. 40 years) available

Cons of Protective Life Insurance

  • The customer support team needs to be more supportive
  • Consider final expense & other facts before buying a policy

Prudential Life Insurance

With about 150 years of experience in this field, Prudential, according to NAIC, has currently ranked 4th in the list of the largest insurance companies in the United States. It has got an A+ rating system in A.M.’s best financial strength rating.

Prudential comes with a variant of life insurance policies, including term life insurance and universal life insurance but not only limited to that. They also offer policies such as indexed universal life insurance, variable universal life insurance etc.

While the indexed universal life insurance offers benefits to the police holder during and after their life, the latter is mainly oriented toward after-life benefits.

Prudential provides online quotes, which can be accessed through their website. One can also use their site to access the live chat facility to get ideas about their policies & offers.

We have also liked Prudential because it offers insurance coverage without any medical tests.

Another problem with Prudential is that though they have a good functional website, they still don’t have any Android or iOS mobile apps. This makes the process a bit rough for mobile users.

Pros Of Prudential Life Insurance

  • Variety of policy plans
  • Good customer feedback
  • Offers coverage without medical fitness tests

Cons Of Prudential Life Insurance

  • Not the best out there for wealth creation
  • Though it has variety in its policies but it does not offer whole life insurance
  • Can’t make claim online

Pacific Life Insurance

With over 150 years of being in this field, Pacific life insurance is another good insurance with an A+ rating in AM Best, and the highest financial strength rating is Pacific life insurance.

Pacific look may be an excellent choice if you are looking for an insurance company that offers the best policies for retirement planning. 

Pacific life insurance offers several kinds of policies (such as term, whole, and universal life policies). They also offer indexed universal life & variable universal life policies.

The main problem with Pacific Life Insurance is that their service is unavailable online. If you need to apply for life insurance, you will have to connect to their agent in person & only then can you apply for insurance.

Pacific life insurance has a functional website, but we have found that the website is of minimal use to the users/customers of the company if they want to get quotes, want to know about their services & promises etc. However, you can get a contact form online to connect with their customer care representative.

Pacific Life insurance Pros

  • Good for retirement planning
  • Good for building cash value

Pacific Life insurance Cons

  • Quotes are not available online
  • The website needs improvement & more facilities should be added

Mutual of Omaha Life Insurance

Mutual of Omaha is a well-known company known for various good reasons. It has strong financial strength. This gives an extra level of security to the policyholders because a strong financial strength indicates that the company will have the ability to pay the number of claims in the future.

Mutual of Omaha has performed explicitly well in the past years. That’s why people have a good interest in their universal life policies.

Unlike Pacific life insurance, Mutual of Omaha has an excellent website & moreover, their quotes are available online. You can also locate their agents by using their website.

Mutual of Omaha has 4 types of insurance products – whole life insurance, term life insurance, universal life insurance & finally indexed life insurance.

Mutual of Omaha has insurance available to buyers from 18 years to all the way up to 85 years. However, they have some specific features disabled for the specific age group. For example: if you belong to the group of age 18-44, you must undergo a medical exam prior to buying the insurance.

For ages 81-85, they don’t have ayn term life insurance plan.

However, Mutual of Omaha is a good choice for building cash value.

Mutual of Omaha Life Insurance Pros

  • The company has a super financial strength
  • Excellent history of giving claims
  • Popular and trustworthy

Mutual of Omaha Life Insurance Cons

  • Not too good for a quick withdrawal of premium

We have made a comparison between Mutual of Omaha, Lincoln Financial, and Pacific Life on how much amount the buyers will have to pay for buying a $2 million term life insurance & here is the result –

Product: $2 million term life insurance

Mutual of OmahaLincoln FinancialPacific Life
$1203$905$935

Term Life Insurance Plan vs Endowment Insurance Plan

Now let’s talk about some differences between the term Life Insurance plan and endowment Life Insurance plan.

In term Life Insurance plan, there is a specific duration for your insurance. The buyers of a term insurance plan pay comparatively less amount of premium for life insurance. If any mishap happens during the insurance, the claim goes to the buyer’s family. But, if nothing happens during the course of time, the premium doesn’t get paid to the insurance buyer; instead, it goes to the company.

In the classic endowment insurance plan, the buyer pays a comparatively Amount of premium to the insurance company for a prolonged period of time. If any mishap happens during the course of insurance, the claim is given according to the insurance agreement, but if nothing happens, the insurance buyer is still given the whole premium amount. Plus, a certain rate of insurance is also given to the policyholder.

Conclusion

That was about some best life insurance companies in the united states. We have listed out 5 insurance companies in these lists. These companies cover unique fields & offers. Some of them are good for endowment insurance, while others offer better term insurance plans. In this very article, we have made a table for a clear understanding of the rates of different life insurance companies. In the end, we have discussed the differences between term life insurance & endowment insurance plan.

We hope this post will help you select the best insurance for you and your family!

Best Balance Transfer Credit Cards

In this article, we are going to have a look at the best balance transfer credit cards 2022. Balance transfers in credit cards are one of the best hacks of credit cards with which a credit card user can save money.

Now the main question is – what is a balance transfer credit card?

Balance Transfer Credit Card – The Idea

Let’s understand it rather simply-

Suppose you own two credit cards. One of these cards has a low credit limit, and one of these has a comparatively higher expense limit. But, because the one with a low credit limit offers too many discounts everywhere, from airports to online e-commerce shopping, you have used your credit card heavily.

Now, if things get wrong and you somehow fail to clean the expenses, you will incur an unexpected burden and pay extra interest for your extra expense. But with balance transfer credit cards, you can transfer some balance of your credit card to another credit card.

How Does A Balance Transfer Credit Card work?

The working process of a balance transfer credit card is quite simple. Let’s continue with our aforesaid example. Let’s say you own two credit cards, ABC and XYZ. ABC bank’s credit card has a lower credit limit, but XYZ’s has a greater credit limit. After doing excessive use of ABC’s card, this is how the credit card’s balance transfer will work –

Once you do a credit card balance transfer

  • The balance of ABC’s credit will get transferred to XYZ’s credit card.
  • And, you owe credit to XYZ bank.
  • You end up repaying XYZ bank now.

Well, after getting to know balance transfer in credit cards and the working principle of a balance transfer credit card, let’s see what names are listed in this list.

Best Balance Transfer Credit Cards 2022

  1. Bank of America balance transfer credit card
  2. Wells Fargo Reflect Card
  3. Citi Double Cash Card
  4. Chase Freedom Unlimited credit card

Now know about these best balance transfer credit cards in detail.

1. Bank of America Balance Transfer Credit Card:

What can be more exciting than getting a credit card with no annual fees? , this credit card from Bank of America blew our minds. Named a ‘Customized Cash Rewards credit card,’ this credit card from Bank of America has 0 annual fees. 

The excitement about the card does not end up here. As a new customer of Bank of America’s Customized Cash Rewards credit card, they offer a reward of $200 if you make any purchase of more than a thousand dollars within the first 3 months of opening your account in the bank.

The credit score required for the card ranges between 700 to 749.

The annual payment rate of the card is between 17 – 27 %, and it varies based on what you are purchasing and how you use the card.

Bank of America Balance Transfer Credit Card Pros

  1. Attractive welcome bonus.
  2. No annual fees.

Cons

  1. APR is comparatively high.
  2. Charges fees for foreign trades.

2. Wells Fargo Reflect Card

Though Wells Fargo Reflect Card does not come with many of the attractive as the above one does, there are some offers that the credit card provides, and these are the things that make the credit card one of the best cards to be selected as a good balance transfer credit card.

From the date of opening an account to the long 18 months, you literally have to pay 0% APR on your transaction of balance transfers. The same offer is applicable for users who want to use the credit card as a normal credit card for normal purchases.

However, the balance transfer charge with the credit card is between 3% – 5%, calculated on the transaction amount.
The annual fee for Wells Fargo Reflect Card is absolutely 0.

The credit score required to be eligible for the card ranges the same as the above one (i.e., 700-749)
If you pay your cell phone bills with this credit card, you will be able to get compensation of up to 600 US dollars if your mobile phone gets damaged or stolen.

Wells Fargo Reflect Card Pros

  1. Presents a great offer for new users.
  2. Offers special protection offers for users paying cell phone bills with the card.

Wells Fargo Reflect Card Cons

  1. Charges fees while doing a balance transfer.
  2. Charges penalty fees if no balance transfer is done between certain fates of opening the account.

Citi Double Cash Card – Best Balance Transfer Credit Card

Citi Double Cash card can be one of the best choices if you want a credit card that offers unlimited rewards irrespective of the number of transactions you perform. It is one of the best options on this list to consider for a long-term view.

It offers a flat 1% cash back on every purchase, and when you square off those purchase bills, this card will again reward you with another flat 1% cashback. It also has the exact same credit score requirement.

Here, the annual payment rate varies from almost 17 % to almost 27%. The good news is that if the card is used only for balance transfers, there is no annual payment rate for that, but the bad news is that there has to be a certain fee for balance transfers.

Pros of Citi Double Cash Card

  1. An absolute choice for gaining cash back.
  2. Offers welcome bonus.

Cons of Citi Double Cash Card

  1. Require fees for a balance transfer.
  2. Does not offer rewards for new customers.

Citi Diamond Preferred Card

Down the list comes the name of the Citi Diamond Preferred credit card

Citi Diamond Preferred credit card is one of those cards that offers the longest 0% APR on balance transfer of credit cards. The current duration is 21 months which means that from the date of being eligible for the card for 21 months you don’t have to pay a single penny as APR for a balance transfer.

After the offer period ends, the users must pay according to the regular APR (i.e., 15.99% – 26.74%).
The main down point of the card is its high balance transfer fees. The minimum fee for any balance transfer is $5; however, it can range as high as 5% of the entire transactional amount.

Citi Diamond Preferred Card Pros

  1. Long-term 0% annual payment rate on balance transfer.
  2. Does not charge any annual fees.

Citi Diamond Preferred Card Cons

  1. Does not come with attractive cash-back offers or rewards.
  2. Heavy transaction fees for balance transfers.

Chase Freedom Unlimited Credit Card

If you want a credit card with a bit high balance transfer fees but still offers good rewards, you can look for a Chase Freedom Unlimited credit card. Chase Freedom Unlimited offers 1.5% cash back on every purchase for a purchase of $20,000 in the first year, making it the highest cashback rewarded in this list.

It also offers great discounts on different occasions like travel programs purchases etc., but all this gets included in the threshold of $20,000. Another good thing about the credit card is that card requires no minimum amount for redemption, and the cashback you have been rewarded with does not expire unless you have closed your account.

The APR of the card is between 17.24% – 25.99%. The main reason not to go for the above card is present with this card also – high transaction fees.

Chase Freedom Unlimited Credit Card Pros

  1. Excellent cash back provider.
  2. Requires no minimum redemption amount.

Chase Freedom Unlimited Credit Card Cons

  1. High fees for a balance transfer.
  2. APR is also high.

Conclusion

So this was the list of the best balance transfer credit cards. We have included 4 credit cards in this list. Every credit card mentioned in the list has an APR of 0%. We have avoided including 2 or more cards offering the same features.

Each of these cards offers different features – some have low APR, some provide great rewards, and some offer heavy cashback. We think this article will help you determine the best balance transfer credit card and choose your own with the information you have gotten from this page.

Economic Recession 2023: What is it? What should an investor do?

In this blog, we will cover in detail what is an economic recession 2023 and what an investor should do during this time. So let’s start without wasting time.

We all have heard the term ‘Recession‘. We have come to know about the Italian recession during our academic life. Almost everybody among you, the readers, is familiar with the term. But, some of us are unaware of the meaning of ‘Recession.’

A recession means a major & noticeable change in the social system, typically within a short span of time. Though, the ‘Recession’ plot takes quite a few years to prepare. Much like the saying – it takes a long time to prepare; it all happens at once.

An economic recession is much like a normal ‘Recession,‘ but its central idea is regarding the economy – which means that every change that will occur during the recession is directly or indirectly linked to the economy. An economic recession may affect other things, but every change will be caused due to economic fluctuation.

Like any other social recession, the plot of an economic recession takes a long time to create. This also brings many financial factors to consider. The recession can also happen during a short time (for example, a few weeks to a few months), but in certain cases, it can last up to months.

In an economic recession, the effects are seen immediately. These kinds of injuries to the economy take a long time to heal. The worse the economic condition gets, the more time it takes for the economy to recover. In the worst case, the effect of an economic recession may be years long.

The last economic recession was in 2020 – during the COVID – 19 epidemic. It took place in March 2020 and probably lasted for 2/3 months. This was probably one of the biggest economic disasters, which finally turned out to be a recession. All of a sudden sharp fall after some year-long economic progression led to the fall in the US. The national reasons were lockdown, overnight unemployment of thousands of employees, labor, an unfamiliar situation of fear, etc.

While the Covid-19 economy happened almost overnight, some experts fear that we may undergo another recession in the upcoming days.

What’s The Reason Behind The Upcoming Economic Recession 2023?

After the Covid-19 pandemic, the global supply & distribution chain has not shown recovery. The Fed had printed too many currencies and has been hiking the interest rate for the past few months.
The main indication behind an upcoming recession is the unexpected slowdown in the GDP.

The GPD has been shirking for the past two subsequent quarters, and it’s the reason experts are predicting that we may undergo an upcoming recession.

The Economic Recession 2023 From an Investor’s Point Of View:

Now we will be discussing what an individual or a retail investor (especially a stock market investor / an equity investor) should do in case of a recession.
In the upcoming lines, we will be considering several cases, like

  1. What should an investor do if he is already invested and has no money?
  2. What an investor should do if they are not already invested and has money in hand?

The current condition:

We all have seen that after the Covid-19 pandemic period stock prices have risen as sharply (or probably more) as they have fallen during the Covid-19 market crash.

Much like that, we have seen that stock prices are continuously falling for a few months. Many stocks are trading 20-40% below their all-time high. Some companies have touched their 52-week low. The stock price of giant & well-known companies like Netflix had dropped by 75%!

In the last month, many stocks have seen a positive recovery. The indices had also moved higher.
Though most companies had seen a recovery, the IT sector was not in the mood to recover. NASDAQ, the index has been continuously falling. It has fallen about 33% (to date of writing the article) from its level of year opening.

But since the past few days, stocks price have again started falling badly. Many investors are worried about what they should do in a bear market. Now we are going to discuss the same.

Let’s answer the first question:

1. What should an investor do if they are already invested and have no money?

If you are already invested in the market, you might worry about your wealth as your portfolio might be in red in the current situation.

Remember that the recession, if it really happens, hasn’t started yet. It is yet a long way to go. So if you are in a panic because your portfolio is 5/10% down, there is much more to happen in the upcoming days.

So what should you do?

Should you book all the losses and pull up your investment from the market?

Definitely not – at least, this is what experts suggest. If you have invested in quality companies with strong fundamentals, good balance sheets, and future potential, don’t panic. But if you have made your investment in companies that do not have a strong fundamentals, it’s better not to stay invested in these kinds of companies during a strong volatile market.

As you have no money in hand – because you have invested all your money in the market, sit & watch where the market goes.

2. What an investor should do if they are not already invested and has money in hand?

But, in case you have not already invested your capital in the market, don’t invest your capital at once in the market. Instead, the best practice would be to do a systematic investment plan or SIP in the market, whether in equity or mutual funds.

As we were talking about, this is just the start of a probable recession. The main problem is that we do not know when it will start or stop. That’s why it’s tough to catch the bottom price of a stock. This is where many invest in the trap – many of us do lump sum investments in the market, thinking a certain price to be the lowest price stock can go, but the stock goes even more down. So the best practice will be to continue a SIP in the bear and bull markets.

However, the amount of investment should definitely vary – if it is a bear market, your investment amount for SIP should be greater than what you would be investing in a bull market.

Conclusion

So this article was all about the economic recession 2023 we may undergo in the upcoming days. In this article, we have learned what a social & and economic recession is, what an investor should do during an economic recession, etc. We hope that you have understood the main idea of an economic recession. If something is still unclear to you regarding the economic recession, you may ask us that in the comments.

If you are an investor, we recommend you not pull off your capital, and have faith in the company you are invested in.

Best Student Loan Refinance

In this article, we’ll talk about the best student loan refinance companies.
It can be pretty hard to pay off student loan debt. First of all, the interest rate on student loans is comparatively higher on student loans. But, some companies can pay off the student loan, and in exchange for that, you will have to pay off a new loan that is estimated mostly based on your credit score.

Remember that these loans require a good credit score. The higher the credit score, the more favourable it is to take the new loan. Unfortunately, if you have less credit score, you may receive a new loan with a rate of annual interest that may be more than your current student loan – which ultimately does not make any sense.

Here is a list of some good companies you can consider to refinance your student loan debt, their basic introduction, and most importantly, their PROS & CONS.

Best Student Loan Refinance Companies List

  • SoFi
  • Discover
  • Credible
  • Rhode Island Student Loan Authority
  • MEFA

Now let’s discuss these best student loan refinance companies in detail.

SoFi

SoFi is one of the most prominent players in this industry. SoFi has flexible terms to repay your educational loan. The repayment period varies from 5 years to even 20 years at maximum.

The interest rate here varies from about 3 % per annum to about 8 % per annum. The best part about SoFI is that they require no origination fees. They will never request you to pay any application fees also. No pre-payment is necessary.

SoFi can also be your choice because it provides absolutely free access to career coaching and advice for better financial planning. SoFi also has a solid customer base. As per their data, more than 375K students have chosen their platform to refinance their educational loans.

To apply for a loan, you must first qualify in their online application process. Once you qualify online, you can only go for further application submission – i.e., complete application submission. This makes the process faster, and it won’t waste your time because you will get to know whether you are eligible or not without submitting the full application.

Pros of SoFi

  • Good customer base
  • The flexible loan repayment interval
  • Flexible interest rate

Cons of SoFi

  • The minimum borrowing amount is $5000

Discover: Best Student Loan Refinance Company

Discover is one of those student loan refinance options that allows you to refinance the exact amount of loan you would need in your college or university as the maximum amount of refinancing is equal to the cost of attendance for the case of it.

Like SoFI, Discover also has a flexible interest rate ranging from about 4 % to about 8% (though the APR can vary from 5 % to about 9.49%). But there are chances that if you have a cosigner with a good credit history and currently have a good credit score, the annual interest rate can decrease – all based on your cosigner’s credit history.

Discover charges 0 application fees, and there are no fees for origination also. If you have enabled their auto-debit reward option, you can also get an additional 0.25% off on the interest rate.

[Point to note: If the main borrower, unfortunately, passes away or becomes permanently disabled, Discover also tends to forgive loans in these cases]
The Point where Discover lacks is probably their terms of loan repayment. Unlike SoFi, they offer only two periods to refinance your loan, i.e., ten years / 20 years.

Pros of Discover

  • No origination fees or late fees
  • Flexible interest rate
  • Special forgiveness in case of selected mishaps with the main borrower

Cons of Discover

  • Only two terms are available to refinance your loan

Credible – Student Loan Refinance

Out of all the student loan refinance options we are talking about today, Credible probably has the lowest annual interest rate.

Now, Credible is different from all the above companies mentioned in the list, and the simple reason is that Credible is not an individual company. Credible is a tech-based company that provides a platform to find lenders with whom you can refinance your student loan.

The biggest problem with all the aforementioned online student loan refinancing options is that you can’t directly compare the annual payment rate and fees associated with the platforms at once – that requires an extra effort. But, with Credible, you can screen several lenders at once and thus can get a better opportunity to find a better lender.

Now we are going to discuss a well-known lender from Credible:

Rhode Island Student Loan Authority

Rhode Island Student Loan Authority is one of the well-known lenders from Credible.com. The annual interest rate of the Rhode Island Student Loan Authority is fixed at 4.29% to about 7 percent. There is no variable APR in it.
It is a nonprofit institution that provides services for people throughout the country. The loan terms vary from 5 – 15 years – there are three terms: 5 years, ten years & 15 years.

But, the minimum loan amount is even greater in this case – $7500 though the maximum credit limit is greater in this case also – $250,000. The borrowing student also won’t be required to have any academic degree to be eligible to receive the loan.

The foremost problem with Rhode Island Student Loan Authority is that they do not provide any cosigner release policy, which is probably why people seem to avoid the company.

Pros of Rhode Island Student Loan Authority

  • Flexible loan terms
  • Maximum loan amount of up to $250,000

Cons of Rhode Island Student Loan Authority

  • No cosigner release policy
  • The minimum loan amount is $7500

MEFA Student Loan Refinance

If you currently don’t have any academic degree but still looking for a student loan refinancing option, you can go with MEFA. MEFA also doesn’t have a complicated fee structure. There are almost negligible hidden fees & no late fees too.
It has a fixed annual payment rate of 4.5% – 7.20%. There are three loan terms – 7 years, ten years & 15 years.

The minimum amount of credit is $10,000, and there is no maximum credit limit. One of the most important criteria to be eligible to borrow/consolidate a student loan in MEFA is to have at least $24000 of income. MEFA does not provide cosigner release.

Pros of MEFA

  • Three loan payment terms
  • No academic degree is required to borrowing
  • No maximum credit limit of loan

Cons of MEFA

  • No-signer can’t be released
  • The minimum loan period is seven long years for even a small loan

Conclusion

So, that’s all about the best student loan refinance companies. We hope to provide you with the basic knowledge about the most popular student loan refinancing & consolidation companies.

Needless to say, the thing we all be looking for in this list is the name of the company that provides student loan refinance service with the lowest interest rate.

In this list, we have also included the name of a ‘marketplace’ from which you can select your wishful lender by comparing their APR, loan periods, and other necessary details.

Thanks for reading this blog. If you think we are missing something in the article that needs to be included, you can leave a comment, and we’ll update the article based on what everyone is saying.

Best Trading Platforms for Day Trading

This article will look at the best trading platforms for day trading. We all know that intraday or day trading differs from regular investing. Regardless of the asset class, we talk about (be it equity or crypto), intraday trading is quite different from investing.

Note that in today’s article, we are mainly going to focus on the trading platforms that are great for equity, most of them support cryptocurrency trading, but they may not be as great as the best trading platforms of crypto.

First, let’s talk about some aspects where intraday trading differs from investing.

Time:

When we talk about investing, we generally mean long-term investing. The ideal time horizon for long-term investing is uncertain, at least in pen and paper. You can hold a stock/cryptos as long as possible. According to many legendary investors, the longer you hold a good stock, the better return it will offer.

While in day trading, no matter whatever you do or how many stocks you purchase, you have to square off (exit) all your active positions (active position refers to the stocks you are trading in day-trading). It won’t matter whether you are in loss or profit; in the end, you must count your profit and loss and exit the positions.

Speed:

In investing, we don’t have to take headaches such as getting our orders executed rapidly. Even if you are trading with a good amount of capital, the price range of stocks hardly varies, and if it does, the price will make a negligible difference from the aspect of long-term investing.

But, in intraday trading, especially if you do scalp trading, you need to choose the platforms where your orders get triggered at the fastest possible speed. Unlike long-term investing, here in day trading, differences in price as low as a fraction of a dollar may make a huge difference in profit or loss.

We have seen some notable differences between day trading and normal investing. Hence, the platform you use should be the best for day trading. Every day trader prefers the platform which provides them with facilities required for day trading. These facilities include fast order execution, bigger leverage, advanced charts, etc.

Let’s now briefly talk about the things you should look for in a trading platform before opening an account or starting day trading.

Speed of the platform:

There is nothing much to tell about. The fast your trading platform is, the faster your orders will get executed, and the more possibility will be there for you to make money.

Charges:

Charges of any platform are one of the most vital factors to consider before choosing any trading platform. As we use trading platforms to check the stocks, analyze charts and similar types of data about stocks or place our orders in the exchange, we use the facility of the platform; that’s why most of the platforms charge us a nominal fee for it.

Before trading on any platform, you should know its fee structure and compare it with similar platforms to verify whether the platform fee is justified.  In this blog post below, we shall discuss the trading platforms that we feel are better for day trading.

So let’s start:

Best Trading Platforms for Day Trading 2022

  • Webull
  • E*TRADE
  • Fidelity

Let’s dive into detail.

Webull – Best Trading Platform for Day Trading

The first trading platform we are going to talk about is Webull. Weibull is one of the best trading platforms across the United States that provides you with all the necessary facilities required for day trading.

First of all, Webull is quite easy to use. It is even beginner friendly. So if you are new to trading, you can start your journey with Webull.

The second thing is that the cost and fees to take trades are comparatively low. There are many advanced features available in Webull that you can use to take a more accurate trade.

Finally, with Webull, you can even trade in crypto.

Pros of Webull

  • Beginner friendly.
  • Their platform is easy to navigate.
  • Short selling facility available.

But, there are a few drawbacks of Webull as well. With Webull, you can’t invest in mutual funds because Webull does not support mutual funds.

Cons of Webull

  • Not for investing in mutual funds.

E*TRADE Trading Platform for Day Trading

E*TRADE is one of the leading stock market brokers in the country. They have lots of cool features, which is why we have chosen this platform as one of the best trading platforms for day trading.

E*TRADE has almost everything that a trader needs. It has got some useful tools which are quite easy to use. We can’t but mention E*TRADE’s great customer support, who are dedicated to solving your complaints at a decent speed.

Most of the trading platforms nowadays, have fine mobile apps, but not everyone has a mobile platform that is almost as powerful and useful as their desktop/laptop/web platform.

E*TRADE is an exception. E*TRADE comes with a great mobile app with really good mobile app. So if you don’t get access to your desktop or laptop but still want to do trading, you can look for this platform for their brilliant mobile app.

Pros of E*TRADE

  • Great customer satisfaction team.
  • Provides access to various useful tools.
  • Has a good mobile app.

Cons of E*TRADE

  • The web interface could be improved.

Fidelity Trading Platform

Fidelity may be a good platform to consider if you want to take trades in different segments in the stock market, such as direct stocks, ETF, and derivatives segments like options.

The best thing we analyzed about Fidelity is that they provide a quality screener tool powered by a good historical database of stocks. If you are such a trader who deals with historical data of stocks, Fidelity provides you with that. Currently, they have at least 10 years of data about stocks that it includes in its screener tool. For stocks research also, Fidelity is quite useful.

Just like E*TRADE, Fidelity also has an excellent mobile application. The application has got quite good reviews on Google Play Store and App Store.

Their customer support is also fine, but the main problem with Fidelity remains in the charges for additional fees regarding brokerage.

Fidelity Pros

  • Good customer support.
  • Best for stock research.
  • Lets one trade in Stocks without any charge.

Warning:

Day trading can be one of the best ways to make money out of the stock market. While it sounds very enthusiastic, beware of the risks involved in day trading. We always recommend making a solid strategy before taking any trade. If you are new to the stock market, we encourage you to learn the market first and then trade.

Conclusion

We hope that you will be able to select the best trading platforms for day trading on your own by using the data and strategy we have used to choose these platforms for this post.

Please note that we haven’t been able to add all the brokers to comply with the standard length of the post; that doesn’t mean that those trading platforms are any less than those we have mentioned here.

We are again enforcing on the matter to look for the brokerage charge and additional chargers because this is what you will have to keep paying as long as you trade. You can also read the reviews of these platforms on Google Play and the App store to know what the users think about the apps.

How to Become an Investment Banker

This is a complete guide post on how to become an investment banker. If you’re interested in becoming an investment banker, this guide will walk you through the process quickly and easily. Whether you are looking for the best way to become an investment banker or just want to know what’s involved, this guide will help you a lot.

Investment banking is one of the most money-producing jobs for any individual in any country. Especially in the US, where a fresher gets paid quite more than even a software engineer, people think of becoming an investment banker.

In this post, we will look at different sides of investment banking. We shall discuss different questions regarding investment banking, starting from – what it is, how it is different from commercial banks (the banks that we deal with in our regular life), and of course – the main topic of the post – How to become a successful investment banker.

So, let’s start the post from the absolute beginning so that you can understand everything related to investment banking.

Investment banking is a kind of big banking system that usually involves great transactions with giant companies for loans, IPO, etc.

So, investment banking is the profession where you take care of and assist mostly financial transactions between giant companies for ultra-big transactions. Investment banking is never as easy as commercial banking, and that’s the reason why investment bankers get double or even triple the salary of a normal commercial banker.

The first step to getting into any job is to study and gain the required knowledge. The same applies to investment banking. In the upcoming lines, you will learn about the academic qualifications you will need to become an investment banker.

Finish Class 12 To Become an Investment Banker

The first step to getting into investment banking from the academic perspective is to pass out your 12th class. In some countries, there are some necessities for having good marks (for example – more than 50%) to get into investment banking.

If you haven’t passed class 10th and are planning to get into only these kinds of fields, the most appropriate field of study will be commerce. However, students from Science backgrounds can also come into this field. Even if you are from an Arts background, investment banking will not be the toughest job for you.

A great academic performance is always a key point in the way of getting selected for any job. So a good academic performance or a glorious mark sheet is always preferred.

The Mark Sheet

The mark sheet indicates your rote learning ability in the particular class and your ability to grasp things at a certain age and digest them – which is undoubtedly a matter to consider for a job interviewer. Investment banking is one of the most preferred jobs in the United States; that’s why the demand to get into the field is pretty high. And some factors keep you ahead of others in your career.

The college/university

It’s a fact that interviewers usually give preferences to the students appearing from good and renowned colleges or universities. Because it ensures that the student who has been admitted to a top college or university has at least a good depth of knowledge in their field.

So, if you are from a good school or college, the chances to crack an interview in any investment bank are usually in your favor during the interview. Interviewers are seen to prioritize students appearing from top-tier colleges like – Oxford university or Cambridge University.

But, if you are not from any renowned school or college, don’t worry. You still have plenty of chances to be an investment banker (remember: we have said that students from top schools or colleges get priority/preference, but they are not the only ones who get selected.) But it is always recommended that you should have depth in the subject you are studying.

If you got a good college degree, the next thing you can do is to get into an advanced study in finance, especially investment banking. There are many colleges in the US which are offering these kinds of degrees.

Having one of these degrees on your resume surely puts you ahead of any interviewer. They also certify that you are more eligible for the job than others because you know what the job deals with and will be your duty in the job. An MBA is one of the preferred degrees in this case, and again, an MBA from a top college is always in your favor.

Interview To Become an Investment Banker

From the very later of getting just a college degree, you should look for these interviews of investment banks held in different places. The best places are the interviews held in your college – which provide the maximum chances of getting selected. Get good marks, grab some related skills, and you are all set.

Conclusion

So these were the basic steps to becoming an investment banker. We have only discussed the most common ways to become an investment banker. Getting a job is never easy because of the popularity of the field and the demand for the job. An internship might help you make the impression of already having previous knowledge of the job, which is highly appreciated.

Its all about Investment, Business, Stock Market and Finance Related Articles.

Exit mobile version