TessMore Finance Blog

When Bank of America acquired Merrill Lynch in 2009, its investment arm was renamed Merrill (dropping the Lynch). Merrill itself is a Bank of America company with three investment options – Merrill Edge Self-Directed, Merrill Guided Investing, and Merrill Guided Investing with an advisor. If you’re interested in opening a Merrill Edge Self-Directed account, there are some juicy bonuses available if you are able to deposit a sizable chunk of cash into the account. For many brokerages, this method is the best way to get extra cash to try out a new brokerage. Table of Contents How to get up to $750 from Merrill Edge Merrill Edge Commissions & Fees How does this offer compare? How to get up to $750 from Merrill Edge The bonus is routine if you’re familiar with brokerage bonuses. Open a new Merrill Edge account with the promotion code 750ME and then transfer in new net assets within 45 days. These have to be new to the Bank of America ecosystem – so it can’t come from o

Your credit card options are slim when you have a limited credit history or bad credit. Unlike many credit builder products, the Destiny Mastercard is an unsecured credit card that lets you build credit with the three major credit bureaus. In this Destiny card review, I’ll cover the pros and cons, and let you know why I think it’s worth considering, especially if you don’t want to set aside cash for a credit card security deposit. Table of Contents What is the Destiny Mastercard? Who Can Qualify for the Destiny Card?  Destiny Mastercard Fees Best Destiny Card Features Builds Credit No Security Deposit Easy Prequalification Low Credit Requirements Destiny Card Drawbacks High Fees Low Credit Limit No Future Credit Limit Increase No Rewards Program Destiny Mastercard Alternatives Chime Credit Builder Self Credit Builder Sable Extra Petal 2 Visa Card Destiny Card FAQs Destiny Mastercard Summary What is the Destiny Mastercard? The Destiny Mastercard

Gift cards are great, especially when you get them for free . But sometimes, you just need cold, hard cash to pay the rent, send a friend some money, or catch up on some bills. The good news is that there are several options for converting Visa gift cards to cash. In this article, I’ll show you how to get the most bang for your gift card buck. Ready? Let’s get started! Table of Contents 10 Ways to Convert Visa Gift Cards to Cash 1. Sell Your Gift Card on Facebook Marketplace 2. Convert Your Gift Card to PayPal Or Venmo Cash 3. Buy a Money Order with Your Visa Gift Card 4. Sell Your Visa Gift Card to an Exchange Kiosk 5. Sell Your Visa Gift Card to a Loved One 6. Offer the Visa Gift Card for Sale at Work Alternatives to Converting Visa Gift Card into Cash 7. Regift Your Visa Gift Card 8. Use Your Visa Gift Card to Pay Bills 9. Purchase Necessity Items With Your Visa Gift Card 10. Practice Retail Arbitrage Visa Gift Card FAQs Final Thoughts 10 Ways to Convert Vi

The Get Rich Slowly summer of books continues! Today's excerpt comes from Jordan Grumet, better known in the FIRE world as Doc G, host of the Earn & Invest Podcast . When he's not talking about money, Jordan is a real-life hospice doc. His new book, Taking Stock , offers lessons from the dying to the living. The following is from Taking Stock by Jordan Grumet with permission from Ulysses Press. Copyright © 2022 by Jordan Grumet. This passage has been edited to be more readable on the web. I used to have a patient who was an undertaker. We had many conversations about philosophy and practicality, and it didn’t take long for me to realize that one must gain profound insights from being engaged in such a unique business. As I was often fond of saying: When the undertaker speaks, you should really listen. Those of us who have made death and dying our business may seem unlikely investment advisers, but because both the undertaker and myself have spent extensive time in clo

If you earn over $200,000 per year, you may be subject to the net investment income tax (NIIT), an additional tax levied on the investment income of taxpayers considered to be high income. In some parts of the country, particularly the big coastal cities, an individual requires a $200,000 income just to achieve a middle-class lifestyle. But even if you consider yourself “only middle-class,” you may be subject to this tax – if not now, soon. This article will explain how the NIIT works, and give you some tips on how to reduce the potential expense. Table of Contents What Is the Net Investment Income Tax? An Example of the Net Investment Income Tax How to Avoid the Net Investment Income Tax Increase Your Retirement Contributions How to Lower Your Investment Income Final Thoughts on the NIIT What Is the Net Investment Income Tax? The  Net Investment Income Tax, or NIIT , was created to help fund the Affordable Care Act (ACA) and went into effect in 2013. Essentially,

Investment returns come in several forms. The terminology of returns can be confusing to new and seasoned investors alike. Understanding the different types of investment returns is essential for investors to evaluate investment performance and make informed investment decisions. Additionally, understanding investment returns helps investors with tax management. Here is a primer on investment returns, which may be beneficial for investors at all levels. Interest Income Many investments generate interest income. Cash generates interest, as do CDs and bonds. Interest income is generally expressed as a percentage of an investment’s value over some time. For the sake of comparing alternatives and having a common frame of reference, interest rates are most often expressed as annual rates. This is typically true even when an investment is not designed to be held for a year, such as a three-month CD. Manage Your Retirement Savings Plan Start by Getting a Free Analysis Interest is a fix