TessMore Finance Blog

When you have amassed a certain level of wealth, different strategies start to make sense. One of those strategies is to rely on loans. But debt is supposed be bad right? Not always. This is the key concept behind the Buy, Borrow, Die Strategy – you borrow against your appreciated assets to get access to cash. If you read the post and understand the concept, you might be wondering if you could take advantage of this. You most certainly can. In this post, I’ll show you how you can utilize the same strategy as the wealthy to get liquidity without selling appreciated assets and triggering capital gains. Table of Contents Check What Your Broker Offers Charles Schwab Pledged Asset Line Wealthfront Portfolio Line of Credit Ally Invest Margin Account Private Investment Advisors Yes, This is Just a Margin Account Consider Home Equity Loans What To Watch Out For To recap, the basic strategy of Buy Borrow Die is that rather than selling an appreciated asset, like shares of...

Members of our military, whether active duty or veterans, have access to unique bank accounts from both banks and credit unions. Such accounts are uniquely designed to suit the specific needs of active duty members (easy online bill pay, international branches on bases or 24/7 stateside assistance, for example) but also honor both active members and veterans for their service via a higher annual percentage yield (APY), better insurance rates, lower annual percentage rates (APRs, or interest rates) on loans and other great benefits. If you or your spouse currently serves or has previously served as a member of the US military and you are looking for a bank account that meets your needs, consider one of these six military banks and credit unions: Service Credit Union America’s Credit Union USAA Bank Pentagon Federal Credit Union (PenFed CU) Navy Federal Credit Union Security Service Federal Credit Union Below, we’ve explored each military bank in detail, focusing on their chec...

Costume parties in and of themselves seem like a great idea. That is, until you realize that you’re about to spend $50+ and countless hours putting together an outfit you’ll wear once before shoving it deep under the bed with the rest of your one-hit-wonder Halloween ensembles. And while I always try to be frugal (because despite my over-the-top holiday enthusiasm, I’m still a Penny Hoarder at heart), I’m also pretty lazy when it comes to Halloween costumes. I always think I’m going to go all out and DIY my costume, but then every year, without fail, I end up running to the store at the last minute and spending a lot of money. There has to be a better way to go about this whole costume business — a way that, ideally, won’t cost any money at all. 7 Last-Minute Halloween Costumes You Can Make at Home If your aim is to wear a completely free (we like free!) costume on Halloween, start with your closet. Chances are you already have a few costume pieces lurking in the dark recesses of...

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . How cool would it be to invest in the success of small businesses across the country — and get a piece of that success yourself? That’s what a company called Mainvest is doing to make it easy for people living all over the country to invest in small businesses and earn passive income. Instead of fronting a ton of cash to invest in some global conglomerate that doesn’t affect you at all, you can invest in local small businesses that you can personally benefit from, too. And all you need is $100 to do it. The ‘Have Your Cake and Eat it, Too’ Investment Strategy When you invest in a local business through Mainvest, like Lil Mama’s sandwich shop in Chattanooga, or Provision Coffee Roasters in Phoenix, you’re investing in real small business owners. For as little as a $100 investment into a local small busi...

Purchasing a car with cash can be suspicious activity as it can be challenging to track the source of the transaction. On the other hand, payment with a credit card can be tracked easily, increasing confidence in a specific transaction. It’s important to note that there is nothing wrong with the cash payment to buy the car. However, paying a significant amount with cash creates certain risks that can create a suspicious situation. Further, the following risks are associated with the cash payments of the significant amount like in the case of purchasing a car. Risk of a fake currency. The money might have been sourced from illegal/criminal activities. Risk of money laundering and layering. There is an inherent risk of fake currency associated with large cash payments. Dealers feel anxiety and unease while counting the massive quantity of cash, which can lead to financial losses. Further, the fake notes have been designed with much accuracy that can deceive anyone. In addition to...

The annual Medicare open enrollment period is going on now through Dec. 7. It’s your yearly chance to switch, drop or add coverage. But how does Medicare work, anyway? Whether you’re about to turn 65 or you’ve been enrolled in the program for years, now is a great time to brush up on this federal health insurance program, what it offers, what it costs and how to make changes to your Medicare coverage. 7 FAQs About Medicare and Open Enrollment Medicare is the largest health insurance program in the United States, covering more than 60 million Americans. It’s also one of the most confusing and complex programs. Contrary to popular belief, Medicare isn’t free and it doesn’t cover all your health care costs either. Here’s what you need to know to get the most out of your Medicare coverage. 1. What Is Medicare? Medicare is the federal government’s health program for people age 65 and older, as well as some younger people with disabilities or kidney failure. If you’re at least 65 y...

Student loans in America average near the $40,000 mark, and it makes it difficult to decide whether to invest or pay off student loans. Because, let’s face it, getting out of debt and saving for retirement is equally as important.  Pay down debt or invest? Factors to consider  There are three elements that determine which route will suit your needs best. These are:  The mathematical approach:  Using math, you can figure out what will be more beneficial – paying down debt or using extra cash to invest. For example, if you have a higher interest rate than what you’re earning on your investment, you might opt to pay off the debt first.  But math isn’t the only important factor at play. The emotional approach:  Having student loans looming over your head sucks, and it’s only natural to want to get rid of it. The emotional decision might lead you to a decision that makes you feel better, even if it doesn’t make as much sense financially.  A hybrid app...