TessMore Finance Blog

When it comes to building the best investment portfolio, you’ll often hear that diversification is key. But what does that even mean — and why do you need to bother with it? After all, you already own a wide range of stocks, from that skyrocketing Amazon stock to your Apple and eBay stocks, and you’re raking in the profits. What could go wrong? If you’re relying on a portfolio filled with big tech stocks or energy stocks to get you through to retirement — or if you’re banking on picking the right stocks forever — you may be in for a surprise during the next market downturn. It’s pretty easy to pick the “right” stocks with the market is overvalued. But, when a market correction happens, you’re probably going to be wishing you’d paid more attention to the advice about diversification. If you want to build wealth and make the  right moves for your investments , you need to build a diversified portfolio.  What is diversification? Have you ever heard the saying, “Don’t put all your e

Many of us have dreamed of the potential of early retirement or FIRE , but it can be overwhelming to figure out how you might sustain yourself as you move into this new phase of your life. Luckily, there are many options. Aside from saving the amount you need to retire , you can also leverage several tax loopholes in order to acquire funds in your tax-advantaged investment accounts. One loophole: Build a Roth conversion ladder. A Roth conversion ladder works by converting money from a 401k to a Traditional IRA to a Roth IRA, and withdrawing the principal amount after five years without any penalties . This means you’ll be able to withdraw money from your 401k and Roth IRA earlier — allowing you to use your money faster and retire sooner (if that’s your thing). There is a bit more to it than that though. To fully understand how it works, we need to take a look at the issues with a Roth IRA on its own. Having more than one stream of income can help you through tough economic times.

What if you lost your job today and needed a new job in a week? Could you do it? What if you just wanted some advice for a tough career decision? Is there someone you could ask? Or what if you wanted to make a big career change, like switching industries? Is there anyone you could call for help? The secret to solving all of these challenges is the same: informational interviews. Informational interviews: What they are and how they work You’ve likely heard employment buzzwords like networking or mentoring being thrown around, but have you ever heard of the term informational interview? Informational interviews can be the difference between a thriving career and a career stalemate, but not everyone is familiar with how these types of interviews work.  At a high-level, here’s how an informational interview works: You find someone doing the job you’re interested in Invite them out to coffee or ask them to chat over the phone Ask key questions about the job and gather insider i

Being put on a Performance Improvement Plan (PIP) can feel like a kick to the gut, especially if it comes out of the blue and you don’t understand why.  However, in most cases, it’s not a surprise. It usually comes after an employee has been struggling in their role or with some other issue at work. If you’re faced with a PIP and don’t know what to do, don’t panic! Below, you’ll learn how to survive and even thrive during a Performance Improvement Plan . For those who decide the job’s not right for them, there are also some bonus tips on how to find your  dream job  if this one doesn’t work out.  Let’s get started on how to respond to a Performance Improvement Plan in the best ways possible.  What is a Performance Improvement Plan (PIP)? A PIP is a set of objectives given to an employee to help them develop in their role. It’s designed by employers to help their workforce better meet the responsibilities of the job.  In a PIP, employers typically outline what needs to be impro