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Harry Sit
Better Than Venmo and Zelle: Transfer Money with Push-Only ACH
As I mentioned in a previous post — Pay Someone By Zelle: Daily Limit and Recurring Payments — the ACH system in the U.S. is set up to be bidirectional by default. A routing number and an account number can be used to both deposit money into the account and withdraw money from it.
This makes it difficult to transfer money to another person because people don’t want to reveal their bank account numb
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My Financial Toolbox: The Nuts and Bolts of Managing Your Money
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Explore TIPS: A Practical Guide to Investing in Treasury Inflation-Protected Securities
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* Note: these are all the books on Goodreads for this author. To add more, click here.
“1% or 2% sounds small until you multiply it by the size of your investments. 1% on $500,000 is $5,000 per year, every year. 1% on $1 million is $10,000 per year, every year. As your investments grow with the market, the fees automatically grow. Especially for retirees with large accumulated assets, paying a percentage of investments is very expensive.”
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
“Although both 0.1% and 1% look like small numbers, paying 1% versus 0.1% makes a big difference over one’s lifetime. If you invest $10,000 a year for 40 years, and you pay 1% a year versus 0.1% a year, all else being equal, you’ll have 20% less at the end of 40 years.”
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
― My Financial Toolbox: The Nuts and Bolts of Managing Your Money
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