Category: Finance

I haven’t paid an ATM fee in ages because I use an Ally Bank checking account. They will reimburse me $10 per statement cycle on fees charged by another bank when I use their ATM. They also have a partnership with Allpoint and MoneyPass so I can access my cash through those networks without paying a fee.

$10 isn’t a lot but I don’t need cash often so it’s actually a perk I rarely use.

If you’re paying ATM fees for using other banks, you should consider switching to a bank that will reimburse you for those fees. Sadly, many of the best online banks do not offer ATM reimbursement as a perk (I checked Sofi, Capital One, Discover, CIT Bank, and a few more).

Here are some major banks that offer this and their terms, listed in alphabetical order:

Table of Contents

1. Alliant Credit Union
2. Ally Bank
3. Axos Bank
4. Betterment
5. Charles Schwab Bank
6. Consumers Credit Union
7. Fidelity Cash Management Account
8. TD Bank
9. TIAA
10. USAA
11. Wells Fargo

Alliant Credit Union

Alliant Credit Union is a nationwide credit union that has 80,000+ fee-free ATMs but they will reimburse you up to $20 in ATM fees per month. The rebates are deposited into your account at the end of the day they are charged, which is a nice touch.

Here is our review of Alliant Credit Union.

Ally Bank

Ally Bank partners with the Allpoint and Moneypass networks so you get access to thousands of fee free ATMs but they will reimburse you up to $10 each statement cycle for fees charged by other ATMs. Ally will not charge you an additional fee though.

The checking account interest rate is tiny, which is common, but their savings account currently yields 3.70% APY. It’s not the top rate possible but it’s competitive.

Here is our Ally Bank review.

Axos Bank

Axos Bank, through its various checking products, offers unlimited ATM fee reimbursements, which is quite rare. most banks offer limited reimbursement but Axos goes beyond that. For example, on their Essential Checking account, you get early direct deposit, no overdraft, NSF, or monthly maintenance fees on top of unlimited ATM fee reimbursements.

The savings account available through Axos currently yields 4.66% APY.

Here is our Axos Bank review.

Betterment

Betterment, best known as a roboadvisor, offers unlimited ATM fee reimbursement on their checking accounts and that reimbursement will come as a credit the following calendar day. This extends internationally too, they will reimburse any ATM worldwide and will also reimburse you the Visa 1% transaction fee on foreign transactions, purchases, and ATM transactions.

Here is our Betterment review.

Charles Schwab Bank

Charles Schwab Investor Checking is Charles Schwab’s checking account and it offers unlimited ATM fee rebates on their Schwab Bank Visa Platinum Debit Card. Again, unlimited ATM reimbursement is rare and this is appealing if you already have a Charles Schwab account. Reimbursement happens at the end of the month.

Consumers Credit Union

Consumers Credit Union is the second credit union that made this list and they offer unlimited reimbursement of any and all ATM fees on their Rewards Checking account. They also have partnerships that allow you to use 30,000 surcharge-free ATMs but they’ll reimburse you for any fees you do get charged if you can’t find one of those ATMs.

Fidelity Cash Management Account

Fidelity will reimburse all ATM fees when you use their card linked to a Fidelity Cash Management Account. If you have a card linked to a Fidelity Account® Premium, Active Trader VIP, Private Client Group, Wealth Management, current or former Youth accounts owners, all ATM fees are reimbursed as well.

TD Bank

TD Bank offers reimbursement on their checking accounts, such as the TD Beyond Checking account. With that account, you get non-TD Bank fees reimbursed at all ATMs when you have at least a $2,500 daily balance.

TIAA

TIAA will reimburse you up to $15 for ATM fees charged by other banks but if you have an average daily balance above $5,000, they will reimburse you an unlimited number of times and amount. You can read the terms here.

USAA

USAA has partnered with networks that get you 100,000+ ATMs with no fees but if you can’t find one, they will reimburse you up to $10 each monthly statement cycle in ATM fees.

Wells Fargo

Wells Fargo offers ATM fee reimbursement on their Premier Checking and Prime Checking accounts. With Premier Checking, they will reimburse all fees but that account requires you to have a $250,000 minimum balance each month to avoid the $35 a month fee! The Prime Checking account, which requires a $20,000 minimum balance to avoid a $25 monthly fee, will reimburse you the first U.S. and first international fee each period.

When you transfer investments in a brokerage account from one broker to another, it goes by a system called ACATS, which stands for Automated Customer Account Transfer Service. Some people call it ACAT. I’m going with the official name ACATS.

ACATS transfers keep the holdings intact and don’t trigger taxes. I used ACATS when I transferred a part of my account from Fidelity to US Bancorp Investments recently for the 4% rewards card.

With all the hacks and data leaks in recent years, fraudulent ACATS transfers have also become a problem. I read a report of this type of fraud from a poster ww340 on the Bogleheads forum.

I discovered that our taxable account at Vanguard had been slowly pilfered of approximately $100,000 in stocks transferred by ACATS to 2 different brokerage accounts that were not mine over a period of time.

These stock transfers were taken out of our account each time we received a dividend. … … Every few months 750 shares of that fund were transferred. Transfers were made 3 times before I realized it was happening.

Source: ACAT fraud with a twist – Vanguard, Bogleheads Forum.

We don’t want our investments stolen from us. How do we protect our accounts from ACATS fraud?

Fraudulent Account In Your Name

ACATS is a pull-only system. All transfer requests start at the receiving firm. A transfer requires a medallion signature guarantee if names don’t match between the receiving and the sending accounts. Therefore thieves usually start with creating a fraudulent account in your name at another broker. They don’t have to hack into your account when they could just pull from an account they control.

Opening a brokerage account doesn’t require a credit check. Freezing your credit doesn’t stop it. Freezing your ChexSystems report doesn’t stop it either because that’s only for banks and credit unions. If someone has your name, Social Security Number, address, and phone number, they have all the information to open a brokerage account in your name. All those pieces of information have been leaked in repeated hacks.

Because thieves can choose paperless delivery at many financial institutions, you may have no clue when a fraudulent account is opened in your name somewhere out there. Some brokers still send mail. You should be on alert if you receive mail from a financial institution you don’t use.

Account Number and Statement

An ACATS transfer request requires the account number of the source account. Some brokers ask for a recent account statement from the source account but it’s often optional. My recent transfer went through without a statement.

An ACATS transfer doesn’t require confirmation by the customer at the sending firm either. A transfer would go through if someone had your account number and the names matched on both accounts. Therefore you should safeguard your account number from falling into the wrong hands. That’s the critical piece of information for a successful ACATS transfer.

A partial transfer also requires knowing your holdings, which are listed in your online account or statements. Therefore you should protect your account statements.

Choose paperless statements and tax forms. They are more secure than hard copies sent by mail. Store those documents securely.

Your brokerage account should have the strongest 2-factor authentication. Don’t let thieves reset your password to get your account number or holdings. See Security Hardware for Vanguard, Fidelity, and Schwab Accounts. If you submit your statement to someone to qualify for a loan, black out the account number.

Your email should also have the strongest 2-factor authentication. Don’t let thieves find your account number or holdings in some emails. See Secure Your Email Account to Prevent Wire Fraud.

Enable Lockdown

Fidelity is the only broker I know that offers an optional Money Transfer Lockdown feature. It doesn’t stop all the ways money can go out of an account but a partial lockdown is better than no lockdown. Fidelity will reject all ACATS transfers when you turn on this setting on an account.

Enabling the lockdown also stops some legit transfers you initiate. You’ll have to disable the lockdown, do your transfer, and re-enable the lockdown. It’s a tradeoff between convenience and protection.

Transfer Alerts

An ACATS transfer doesn’t require an approval from you before it goes through but it’s helpful if your broker at least sends you an alert when it receives a transfer request or immediately after it processes a transfer. Some brokers don’t do any of that.

Fidelity sent me an alert when they received my legit transfer request through US Bancorp Investments. When I transferred from Vanguard last year, Vanguard didn’t send me anything either before or after they processed the transfer. A fraudulent transfer could’ve gone through without my knowledge. Vanguard only sent me a letter after a few weeks saying the account was closed. I would’ve received nothing if it had been a partial transfer and the account was still open, as was the fraudulent transfer against ww340.

If your broker notifies you by mail, it’s helpful if you open it. The poster ww340 said,

I had everything online and usually only get proxy votes or fund information sheets, so I do not always open Vanguard mail.

That was a mistake. Use a broker that sends you alerts about these transfers either before or after the transfer is processed. The sooner you know, the better chances you have to stop the transfer or reverse it. Make a habit of reading everything that comes from your broker.

A Flood of Spam

Beware when you receive a sudden flood of spam emails and texts. It’s a telltale sign you’re under attack somewhere. Thieves flood you with spam to bury the notification emails and texts from your financial institution. This happened to ww340:

My email got hundreds or thousands of spam emails every time a fraudelent order was placed. My email had 73,000 emails with 99% of those were spam and spam subscriptions. So that hid the fraud when the notices were hidden among the spam.

Call your banks and brokers immediately and tell them to stop all transactions if you see a surge of spam emails or texts.

Check Your Accounts

Some people suggest not checking your investment accounts often. This helps you avoid trading on fear or greed. That’s good if your broker will notify you of outgoing activities and you’re on top of the notifications. Otherwise your account or shares could be long gone before you notice.

Brokers send you account statements monthly or quarterly for a reason. You don’t need to check your accounts daily. I suggest checking monthly for unusual activities.

Keep Independent Records

An ACATS transfer can be a full transfer of the entire account or a partial transfer of select holdings. A full account transfer is easier to detect when you see your entire account is gone. A partial transfer such as leeching 750 shares at a time is more difficult to see.

Portfolio values fluctuate with the market prices but you should match the number of shares in your account with your independent records. Don’t just look at the total value of your account. Look at the number of shares in each holding. Thieves that stole from ww340 tried to hide their theft by transferring out shares shortly after a dividend was paid. You may not detect it easily if you only look at the total value.

Many old-timers use Quicken to track their accounts. I use Microsoft Money, which was discontinued 10+ years ago but you can still find the last free release on archive.org. It still works on Windows 11. What system you use doesn’t matter as long as it helps you track your shares independently. An online aggregator such as Empower or Fidelity’s Full View isn’t the best tool for this purpose because they don’t maintain an independent source of truth. An online aggregator only reports what’s currently in your accounts.

You should know how many shares you should have in each holding at any time. Compare them with how many shares you see in your account. You’ll know when you see a difference. Having fewer accounts, fewer holdings, and fewer transactions will make this task easier.

***

ACATS was designed before all the hacks and data leaks. Now the account number is the only secret that prevents a fraudulent transfer. We must do everything we can to protect this secret. It helps to turn on the lockdown setting if your broker offers it. It also helps to use a broker that notifies you of pending and completed transfers.

Fraudulent ACATS transfers can be reversed. We want to detect them sooner rather than later. Check your account activities monthly and keep independent records.

[Image Credit: Gerd Altmann from Pixabay.]

Picture a life without alarm clocks, office meetings, or weekday traffic — where you travel, pursue passions, or simply enjoy peace. That’s the dream early retirement planning aims to turn into reality.

More and more people in India are rethinking the traditional retirement age and exploring how to retire by 40 or 50. While it sounds ambitious, it’s possible with the right approach to retirement planning. It’s not just about saving aggressively — it’s about investing wisely, minimizing debt, and planning strategically for long-term financial freedom.

Successful early retirement planning requires discipline, clarity, and expert guidance. That’s where professional retirement planning services come in — helping you map a plan that aligns with your goals.

In this blog, we’ll explore how to retire early in India, key financial steps, and how expert advice can make it happen.

What Is Early Retirement Planning?

Early retirement planning is the process of preparing financially and mentally to retire before the conventional retirement age. This doesn’t just mean saving more — it means saving smarter, investing wisely, and making decisions that align with long-term goals.

Unlike traditional retirement planning, early retirement compresses the timeline, often requiring you to accumulate a corpus in 20-30 years rather than 40-45. It also requires that corpus to last longer, potentially 30-40 years or more.

Why Do People Choose Early Retirement?

People pursue early retirement for various reasons, such as:

• Pursuing passions or hobbies that require time and energy
• Escaping corporate burnout or a high-stress lifestyle
• Spending more time with family
  
• Starting a second career or a business venture
• Improving quality of life while still in good health

Whatever the motivation, the path to early retirement starts with meticulous early retirement planning.

Step-by-Step Guide to Early Retirement Planning

1. Define Your Retirement Goals

The first step in early retirement planning is defining what retirement looks like for you. Consider:

• At what age do you want to retire?
• Where do you want to live post-retirement?
• What kind of lifestyle do you want to maintain?
• Do you plan to travel, start a business, or pursue a hobby?

Knowing these answers helps you estimate the cost of your dream retirement and set a realistic savings target.

2. Calculate Your Retirement Corpus

A general rule of thumb is that your retirement corpus should be 25-30 times your annual expenses. If you expect to spend ₹10 lakhs annually, you should aim for a corpus of ₹2.5–3 crores (or more considering inflation).

Use tools like a retirement planner or a retirement calculator to factor in:

• Life expectancy
• Inflation
• Healthcare costs
• Lifestyle expenses
• Emergency fund

3. Start Saving Early and Aggressively

Create multiple savings goals such as:

The earlier you start saving, the more you benefit from compounding. For early retirement, aim to save 40% to 70% of your income, especially in your 20s and 30s. The FIRE (Financial Independence, Retire Early) movement recommends living frugally to save a larger portion of income.

• Emergency fund (6–12 months of expenses)
• Retirement fund
• Health fund
• Travel or leisure fund

Consistent, high-percentage saving is the foundation of effective early retirement planning.

4. Invest Smartly

Savings alone won’t take you far unless they’re invested wisely. Choose investments that offer long-term growth and align with your risk appetite.

Ideal Investment Options for Early Retirement:

• Equity Mutual Funds: High returns over the long term
• ULIPs: Insurance with investment benefits
• Public Provident Fund (PPF): Safe and tax-saving
• National Pension System (NPS): Long-term retirement savings with equity exposure
• Stocks: For aggressive investors
• REITs and rental income: Real estate income
• Gold ETFs: As an inflation hedge

You need to choose and balance these instruments based on your retirement timeline.

5. Create Passive Income Streams

To retire early, it’s wise to create sources of passive income. These generate revenue even after you stop working full-time.

Some passive income ideas:

• Rental income from property
• Dividends from stocks
• Royalties (books, music, etc.)
• Income from side businesses
  

The goal is to have income that covers your essential expenses without dipping into your retirement corpus prematurely.

6. Plan for Healthcare Costs

Healthcare expenses can derail the best retirement plans. With aging comes a higher probability of lifestyle and chronic diseases. Once you retire, employer-sponsored health insurance typically ends.

To protect your finances:

• Purchase a comprehensive health insurance plan
  
• Invest in critical illness cover
  
• Build a healthcare emergency fund
  

Fincart’s retirement plan services help integrate medical cost planning into your overall retirement strategy.

7. Be Debt-Free Before You Retire

Paying EMIs during retirement can drain your savings. Make it a goal to be debt-free before retiring.

Tips:

• Avoid long-term loans after 40
• Prioritize clearing home loans, credit card debts, and personal loans
• Don’t co-sign loans that might risk your financial independence

A debt-free retirement ensures you enjoy peace of mind and financial freedom.

8. Monitor and Rebalance Your Portfolio

Early retirement planning doesn’t stop at investing — it continues with regular monitoring.

At least once a year:

• Review your financial goals
• Rebalance your portfolio
• Adjust for inflation and market volatility
• Assess if you’re on track for your target retirement age

A retirement planner can periodically evaluate your plan and suggest course corrections.

9. Practice Frugality

Retiring early means your savings have to last longer. Adopting a frugal lifestyle — without compromising on essential needs — is critical.

• Differentiate between needs and wants
  
• Reduce discretionary spending
• Avoid lifestyle inflation
• Focus on value-driven purchases

Living well below your means during your working years paves the way for financial freedom.

10. Use the 4% Withdrawal Rule

Once you retire, managing your corpus becomes crucial. The 4% rule suggests that you can withdraw 4% of your total corpus annually in the first year, adjusting for inflation every year after.

For example, if your retirement corpus is ₹3 crores, you can safely withdraw ₹12 lakhs in the first year.

Note: This rule is a general guideline and should be personalized with help from a retirement planner.

Advantages of Early Retirement

• More Time for Hobbies and Travel: Enjoy activities while you are still young and energetic.
• Reduced Stress: No work pressure or deadlines.
• Opportunity to Start Something New: Launch a business, mentor others, or volunteer.
• Improved Health: Less work stress can positively impact physical and mental health.

Challenges of Early Retirement

• Savings Need to Last Longer: You might need 30–40 years of sustained income.
• Healthcare Expenses: You bear the full cost without employer benefits.
• Potential Boredom: Lack of purpose can affect mental health.
• Social Isolation: Colleagues and peers may still be working.

These challenges can be addressed through thoughtful early retirement planning and lifestyle design.

Role of a Retirement Planner

A retirement planner plays a pivotal role in shaping your early retirement journey. At Fincart, our planners offer:

• Personalized financial assessments
• Investment strategies tailored to your goals
• Risk profiling and asset allocation
• Tax-efficient planning
• Periodic reviews and rebalancing

Using Fincart’s retirement plan services, you can retire early with confidence and financial security.

Making Early Retirement a Reality: Key Takeaways and Action Plan

Early retirement may seem like a luxury, but with smart financial decisions and consistent planning, it can become an achievable goal. The secret lies not in how much you earn, but how wisely you save, invest, and plan. Here’s a consolidated view of what you need to focus on to make early retirement a reality — not just a dream.

1. Start Early, Stay Disciplined

The earlier you begin your early retirement planning, the more time your money has to grow. Even small monthly investments can compound into a significant corpus over time. Delaying just a few years can drastically impact your retirement corpus.

2. Key Elements of an Effective Early Retirement Plan:

• Aggressive savings strategy: Aim to save at least 40–60% of your income if you’re targeting retirement before 50.
• Diversified investment portfolio: Combine high-growth instruments (mutual funds, stocks) with safe options (PPF, NPS, FDs).
• Health insurance coverage: Post-retirement medical costs can drain your savings. Invest in a comprehensive health plan early.
• Debt-free living: Clear off major debts — home loans, personal loans, credit card balances — before retirement.

3. Build Multiple Income Streams

Relying solely on your retirement corpus can be risky. To ensure sustained cash flow, create parallel income sources such as:

• Rental income
• Dividend-paying stocks or mutual funds
• Freelance consulting or part-time business ventures

4. Monitor, Review, and Adjust

Your retirement plan isn’t a one-time effort. Revisit it annually to:

• Adjust your investment contributions
• Rebalance asset allocations based on market trends
• Recalculate expenses as per lifestyle or health needs
• Keep pace with inflation and changing goals

5. Leverage Expert Retirement Planning Services

Planning for early retirement involves more than just saving money — you must also account for inflation, tax implications, insurance needs, and changing market conditions. This can get complex quickly. Working with a professional retirement planner gives you access to tailored strategies, informed decision-making, and regular plan reviews to ensure your goals stay within reach. Expert retirement planning services help you stay disciplined, optimize investments, and make smarter financial choices as your needs evolve.

Benefits of Expert Retirement Planning with Fincart:

• Tailored retirement corpus calculation
• Tax-efficient investment strategies
• Periodic reviews and realignment
• Health and life insurance advisory
• Legacy and estate planning guidance

Final Thoughts

Early retirement planning is a commitment to securing your financial independence years before the conventional age. It demands clarity of purpose, aggressive savings, diversified investments, and consistent discipline. While the journey may seem tough, the rewards are life-changing.

Whether your dream is to travel the world, start a business, or just live peacefully, early retirement can offer that freedom — but only if backed by solid financial planning. Let Fincart be your partner in this journey. Our experienced retirement planners and holistic retirement plan services are designed to help you live your dream life — sooner than you thought possible.

Do term life insurance war exclusions cover civilian death? Find out the answer and how to protect yourself during such uncertain times.

When a country faces geopolitical tensions or an ongoing conflict, it’s natural for people to worry about the impact on their lives, including their financial security. For those with term life insurance, a common concern is whether a death due to war or war-like situations will be covered under their policy. This is particularly important for civilians, as they are often indirectly impacted by the chaos of war, even though they aren’t directly involved in military actions.

In this blog post, let us explore the key aspects of war exclusions in term life insurance policies and clarify whether civilian deaths due to war are covered. Let’s break down this complex topic by looking at common policy exclusions across Indian insurers and understanding the risks involved.

Are Term Life Insurance War Exclusions Valid for Civilian Death?

Term life insurance policies typically offer a straightforward benefit: in the event of the insured person’s death, the nominee will receive a sum assured. However, like most insurance contracts, term policies come with exclusions — situations in which the insurer will not pay out a claim.

One of the most common exclusions in life insurance policies is death due to war or war-like situations. But how do these exclusions work for civilians, and what exactly do insurance companies mean by “war” in these contexts?

Most life insurance policies, including those from well-known Indian insurers like LIC, HDFC Life, ICICI Prudential, SBI Life, and others, explicitly exclude death resulting from war or war-like situations.

As per the standard exclusion clause in LIC’s Tech Term policy document,

“The Corporation shall not be liable to pay any death claim if the death of the Life Assured is caused directly or indirectly by or resulting from war, invasion, act of foreign enemy, hostilities (whether war is declared or not), civil war, rebellion, revolution, insurrection, or military or usurped power.”

This exclusion can be interpreted to mean that any death caused by a situation involving armed conflict, war, terrorism, civil commotion, or similar circumstances will not be covered under the policy, whether the individual is a civilian or a member of the armed forces.

Please take note of these two important points here.

The term “war” usually refers to an organized conflict between states or parties, but the exclusion also includes civil war, terrorism, and rebellion.

The clause is broad and comprehensive, applying to both civilian deaths as well as those related to military operations.

Why Are War-Related Deaths Excluded from Term Insurance?

The reasoning behind this exclusion is primarily based on the risk factors associated with war or conflict situations. Insurance is typically designed to protect individuals from unpredictable but insurable risks. Events like war, terrorism, and civil strife are catastrophic, wide-ranging events that are often seen as uninsurable.

Here are a few reasons why insurers usually exclude war-related deaths:

• High Risk of Mass Casualties: Wars and conflicts can cause widespread destruction, leading to significant casualties that insurance companies may find financially unsustainable to cover.
• Unpredictability: The nature of war is often unpredictable, and its effects can extend beyond traditional accidents, including factors like national security, military actions, and civil unrest.
• Excessive Losses: Insuring against war can expose insurers to enormous liabilities due to the large-scale death tolls and destruction.

Do War-Related Exclusions Apply to Civilians?

Yes, civilian deaths due to war are generally excluded under the terms of most Indian term life insurance policies. While the first part of the exclusion often focuses on military personnel (especially those directly engaged in military operations), the second part applies to all insured persons — including civilians.

Example of Common Exclusions for Civilians:

• Death due to bombing, airstrikes, or missile attacks during a conflict.
• Death caused by terrorist activities, which are often part of war-like scenarios.
• Injury or death during civil unrest, rebellion, or revolution.

Even though civilians are not actively involved in combat, they can still be directly impacted by the consequences of war. Therefore, under most policies, these deaths are excluded from coverage.

Are There Any Exceptions to the War Exclusion?

In some special cases, insurers may make exceptions to the war exclusion, especially if the death is incidental to war rather than a direct result of it. For example:

• If a civilian dies in a non-combat situation (such as a traffic accident caused by a bomb blast during a conflict), some insurers may consider paying the claim.
• Accidental deaths resulting from war-like conditions might still be covered under accidental death benefit riders if the rider is separately purchased and doesn’t include exclusions for war.

However, these exceptions are rare, and the general rule remains that death due to war-related incidents is not covered.

Here’s a quick look at how some major Indian insurers treat war-related exclusions in their term life insurance policies:

Insurer	War Exclusion Clause	Death Due to War (Civilians)
LIC	War, invasion, terrorism, civil commotion, rebellion, etc.	Not covered
HDFC Life	War, terrorism, civil commotion, rebellion, military actions, etc.	Not covered
ICICI Prudential	War, civil commotion, terrorism, hostilities, military or usurped power	Not covered
SBI Life	War, rebellion, terrorism, civil war, hostilities	Not covered
Max Life Insurance	War, invasion, terrorism, hostilities	Not covered

As you can see, almost all major insurers have the same exclusion when it comes to death due to war.

Conclusion – To summarize, death due to war is generally excluded under term life insurance policies in India — even for civilians. While war may be an unpredictable and uncontrollable event, insurers typically deem it an uninsurable risk. Therefore, civilian deaths resulting from war, whether caused by airstrikes, bombings, or terrorist activities, are usually not covered.

If you are concerned about the risks associated with such events, it’s advisable to:

1. Review your policy exclusions carefully.
2. Consider additional coverage like accidental death benefit riders, which might offer some level of protection in cases of terrorism or accidents during conflict situations.

Disclaimer: The above article is based on the general information available in policy documents of various insurers. However, in a real-life situation such as war, the government may intervene and direct insurers to honor claims, or insurance companies might choose to settle them on humanitarian grounds. Still, I strongly recommend reviewing your individual policy document for specific exclusions and clarity.

Every parent wants to see their kids succeed in life, and for many, that means offering financial support along the way. From college tuition to wedding expenses to helping with a down payment on a first home, it’s easy to open your wallet in the name of love. But while generosity is a beautiful quality, it can also come with a hidden cost: your own financial security.

Many retirees find themselves struggling to make ends meet because they gave too much to their children during their working years. Here are seven shocking ways helping your kids can leave you broke in retirement — and how to avoid falling into the same trap.

1. Paying for College Without a Plan

Covering college tuition and expenses is one of the biggest ways parents support their kids, but it’s also one of the easiest ways to derail retirement savings. With the cost of higher education soaring, parents often find themselves dipping into 401(k)s, IRAs, or even home equity to pay for tuition. Unfortunately, these withdrawals can create significant tax burdens, penalty fees, and a loss of future growth on investments meant to support your retirement.

Worse still, once that money is gone, it’s gone, unlike student loans that can be refinanced or deferred. Helping your child is admirable, but doing so without a clear plan can jeopardize your own financial well-being.

2. Co-Signing Loans That Come Back to Haunt You

Co-signing a student loan, car loan, or mortgage for your child might seem like a quick way to help them build credit or afford that first home. But if your child struggles to make payments, the responsibility falls squarely on you. Missed payments can tank your credit score and leave you on the hook for the entire debt, often at the worst possible time…like right before retirement.

Some parents end up paying off loans they never expected to cover, draining savings they’d counted on to support their golden years. Think twice before putting your name on the dotted line. It might come back to haunt you.

3. Funding Lavish Weddings or Dream Homes

It’s natural to want to help your children celebrate milestones like weddings or buying their first house. However, lavish spending on these occasions can quickly eat away at your retirement savings. Parents sometimes take out personal loans or raid their retirement accounts to fund big weddings or generous down payments, believing they’ll “catch up later.”

The reality? Most don’t. Once those funds are spent, they can’t be replaced, and the financial hit can be devastating. It’s okay to contribute to life’s big moments, but setting a clear budget that doesn’t compromise your own future is crucial.

4. Providing Ongoing Financial Support

Sometimes, adult children rely on their parents for ongoing help with rent, car payments, groceries, or other everyday expenses. While it might seem like a small monthly contribution, these payments can quietly drain your retirement funds over time. What starts as a temporary bridge during tough times can turn into a long-term financial lifeline that parents can’t easily turn off.

Many retirees are shocked to find themselves supporting their kids well into their own 60s or 70s, long after they planned to enjoy financial freedom. Before offering continuous help, consider whether it’s enabling dependence or hindering your own ability to retire comfortably.

5. Sacrificing Your Own Emergency Fund

Parents often feel compelled to help their children during financial crises, even if it means sacrificing their own emergency savings. Whether it’s covering a medical bill, car repair, or sudden job loss, raiding your nest egg might seem like the right thing to do. But once that cushion is gone, you’re left vulnerable to unexpected expenses in your own life, like health issues or home repairs.

Financial experts recommend prioritizing your own emergency fund before extending help to others. Otherwise, you could find yourself in a financial bind at a time when earning more income is no longer an option.

6. Moving in Together Without Boundaries

Inviting your adult child (and sometimes their family) to move in can sound like a win-win: they save on rent, and you enjoy the company. But without clear boundaries, shared living arrangements can drain your finances faster than you think. Utility bills, groceries, home maintenance, and even additional wear and tear on the house all add up, often without formal rent contributions or shared responsibilities.

Parents who foot the entire bill may find themselves spending hundreds or even thousands each month supporting adult children at home, all while their own retirement plans suffer. Establishing ground rules and financial expectations is key to making multi-generational living work.

7. Letting Guilt Guide Your Decisions

One of the most subtle yet powerful ways parents end up broke in retirement is by letting guilt guide their financial choices. It’s easy to feel obligated to help your kids succeed, especially if they’re struggling. But giving in to guilt often means ignoring your own needs, risking your security for the sake of keeping the peace.

The truth is that financial independence is just as important for parents as it is for kids. Learning to say “no” when necessary and focusing on long-term stability ensures you can continue to support your children emotionally without sacrificing your own well-being.

You Need to Set Boundaries

Supporting your children financially is a loving gesture, but it shouldn’t come at the cost of your own retirement security. By setting boundaries, making informed choices, and prioritizing your own needs, you can strike a balance between helping your kids and protecting your financial future.

Have you ever found yourself giving too much? Or perhaps you’ve learned a valuable lesson about saying no?

Read More:

7 Financial Moves That Made Retirement Way Harder Than Expected

6 Reasons Why More Retirees Continue Working Than Ever Before

If you’re balancing VTI vs. VOO, you’re probably looking at putting money into an index fund. That’s generally going to be a good decision. Index funds allow you to diversify your portfolio even if you don’t have much to invest, and even investment professionals often fail to pick stocks that beat the index performance.

But which of these funds should you choose? Let’s start with the basics.

VTI vs VOO: By the Numbers

	VTI	VOO
Full Name	Vanguard Total Stock Market ETF	Vanguard S&P 500 ETF
Index Tracked	CRSP U.S. Total Market Index	S&P 500 Index
Assets Under Management*	$318.6 billion	$339.7 billion
Number of Holdings	3839	507
Expense Ratio	0.03%	0.03%
Dividend Yield*	1.54%	1.56%
Issuer	Vanguard	Vanguard

* As of Sept. 2023

Five-Year Performance

Source: Barchat

VTI vs VOO: What’s the Difference?

The most important difference between VTI and VOO is that each fund tracks a different index:

• VTI tracks the CRSP U.S. Total Market index. The CRSP U.S. Total Market index is an index of almost 4000 companies headquartered in the US, from mega to micro capitalization. This makes the index a good representation of the entire US stock market, not just the largest companies.
• VOO tracks the S&P 500. The S&P 500 is an index of the 500 top largest companies in the US.

These indices and the ETFs that track them are market cap weighted. That means that they give larger companies a heavier weight.

📈 Learn more: Unlock the basics of building wealth with our step-by-step investing guide for beginners.

VTI vs VOO: Sector Exposure

VTI and VOO use slightly different terms to break down their sector exposure.

One thing that immediately stands out in these breakdowns is that both VTI and VOO are heavily weighted toward IT (tech & communication) especially VOO, reflecting the current large market capitalization of these sectors in the US stock market.

• VTI tracks a larger number of companies from a wider range of corporate sizes. It is weighted more heavily toward the consumer and industrial sectors, which contain more medium and small-size companies. The larger number of holdings and higher variation in the companies’ profiles make it more diversified.
• VOO tracks a smaller number of companies with a slightly greater concentration in tech. It gives a higher part to healthcare and financials, which tend to be dominated by large companies (sometimes referred to as Big Banks and Big Pharma).

Neither of these options is fundamentally better or worse. They provide exposure to slightly different sectors of the market, and that can lead to different performance characteristics.

VTI vs VOO: The Similarities

VTI and VOO have a lot in common. They are both extremely large ETFs. Both funds are managed by Vanguard, which has a reputation for providing low-cost funds.

If you’re looking for large, highly liquid funds with credible management, both of these ETFs will pass your screen.

There are also less obvious similarities, explaining the very similar performance charts stemming from three basic facts.

• As market cap-weighted indexes, they both give a predominant space to mega-caps worth trillions of dollars, most of them tech companies.
• A lot of the performance of the CRSP U.S. Total Market Index is driven by the top largest holdings, which are all part of the S&P 500.
• The stock market value of mid and small-cap stocks tends to move in unison with larger-cap stocks.

What does that mean in practice? Let’s look at the ten largest holdings of VTI and VOO.

Top Holdings: VTI vs VOO

The top holdings of both indexes are identical for the first 9th largest holdings, only in a slightly different order. It includes:

• Apple Inc.
• Microsoft Corp.
• Amazon.com Inc.
• NVIDIA Corp.
• Alphabet Inc. Class A
• Alphabet Inc. Class C
• Tesla
• Facebook Inc. Class A
• Berkshire Hathaway Inc. Class B

So the only difference among the top 10 holdings is that VTI contains insurance and healthcare stock UnitedHealth Group while VOO contains oil & gas Exxon Mobil Corp.

The same can be true even if looking at the next 10 holdings for each fund. The list is identical for 9th of them, with a very similar order:

• Exxon Mobil Corp or UnitedHealth Group
• Eli Lilly & Co.
• JPMorgan Chase & Co.
• Visa Inc. Class A
• Johnson & Johnson
• Broadcom Inc.
• Procter & Gamble Co.
• MasterCard Inc Class A
• Home Depot

The difference is in the 20th largest holdings: pharmaceutical company Merck & Co Inc. for VTI and energy company Chevron Corp. for VOO.

Which Is Best for You?

Both VTI and VOO are good choices for an investor who is looking for a quality diversified index fund. Both are among the largest and most prominent ETFs in the country, both are highly liquid, and they have very similar track records. They also have the same low fee of 0.03%.

Your choice will be based on what you are looking for in an investment.

• VTI is giving some exposure to companies with a smaller market capitalization. This gives a slightly different profile when looking at the sector basis, giving more importance to the industrial and consumer sectors.
• VOO is a more aggressive, less diversified fund focused on major tech companies. This gives it greater potential for gains in bull market periods but also opens up the possibility of significant losses in a bear market.

How you see the markets makes a difference: if you think markets are going to keep favoring large caps, then you will prefer an index focused solely on them. If you believe that smaller companies might be able to outperform, you will prefer an index able to rebalance toward them and increase their weight into the index while their market capitalization grows.

If you are weighing VTI vs VOO and you’re having trouble making up your mind, consider allocating a portion of your portfolio to each fund. Keeping several ETFs in your portfolio can provide the best of both worlds.

A small loan, like a $50 loan, sometimes is all we need for a quick emergency. For example, we might need $50 to fill up our gas tank or to simply to buy food. But you might be asking yourself, “what apps can give me an instant $50 loan?” If that’s the case then, you have come to the right place.

An instant loan is a short term borrowing designed to help you access cash quickly.

Instant loans are different than payday loans, because instant loans are widely available online, while payday loans are typically only available through physical storefront locations.

Using $50 instant loan apps can be safe. However, you need to take some precautions, including making sure the app is reputable.

Here are some 8 popular $50 instant loan apps:

1. Brigit
2. MoneyLion
3. Earnin
4. Dave
5. Chime
6. Varo
7. PayActiv
8. Branch

It is worth noting that these instant loan apps may offer more than $50. For example, you will find that some $50 loan instant app offers up to $50, while other instant loan apps offers anywhere between $250 to $1000. It is important to carefully review terms and conditions, fees and interest rates before taking out a loan.

What Are Instant Loan Apps?

Before we dig any further on the best $50 instant loan apps, it is better to know the meaning of instant loan apps.

Instant loan apps are mobile applications that allow users to apply for and receive personal loans quickly and easily, typically within a matter of minutes. These apps use technology to automate the loan application process, which reduces the time and paperwork required for traditional loan applications. They also use algorithms to determine the loan amount, interest rate, and loan terms, which are based on the user’s credit score and other financial data.

How to choose the best $50 instant loan apps?

When choosing the best instant loan apps for a $50 loan, consider the following factors:

1. Reputation: Check the app’s ratings and reviews to ensure it has a good reputation for providing fair and transparent loans.
2. Interest Rates: Compare interest rates and fees to ensure you are getting the best deal.
3. Eligibility Criteria: Make sure you meet the app’s eligibility criteria, such as minimum credit score, income, and age requirements.
4. Loan Amount and Repayment Terms: Consider the maximum loan amount you can receive and the repayment terms, including the length of the loan and the due date.
5. Speed: Make sure the app can provide you with the funds you need quickly, within the time frame you need it.
6. Customer Service: Ensure the app has good customer service, including accessible and responsive support, in case you have any questions or need help with your loan.
7. Security: Check if the app has proper security measures in place to protect your personal and financial information.

It’s important to carefully review all the terms and conditions before accepting a loan to ensure that it meets your needs and that you can comfortably repay the loan in full and on time.

Brigit

The first of the best $50 instant loan apps on our list is Brigit. Brigit is a financial technology company that offers an instant loan app. It provides short-term loans to individuals to help cover unexpected expenses or cash flow gaps between paychecks. The app uses a user’s bank transaction data to assess their ability to repay a loan and provides funds in as little as one business day. Brigit’s loans are meant to be a more accessible alternative to payday loans and traditional credit options.

MoneyLion

MoneyLion is a financial wellness platform that offers an instant loan app for $50 as part of its suite of financial products. The app provides personal loans to help users cover unexpected expenses or take advantage of financial opportunities. Loans are offered with competitive interest rates and flexible repayment terms, and funds can be deposited into the user’s bank account as soon as the next business day. MoneyLion also offers other financial tools and services, such as a robo-advisor, credit monitoring, and cashback rewards, aimed at helping users achieve financial wellness.

Earnin

Earnin is a financial technology company that offers an instant loan app. The app provides short-term loans to individuals, allowing them to access their earned wages before their regular payday. Earnin’s app tracks the user’s work hours and allows them to cash out a portion of their earned wages when they need it, with no fees or interest charged. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

Dave

Dave is a financial technology company that also offers a $50 instant loan app. The app provides short-term loans to help users avoid expensive overdraft fees and get through to their next paycheck. Dave also offers other financial tools and services, such as a budgeting app, savings tools, and overdraft protection, aimed at helping users take control of their finances. The company’s mission is to help people avoid financial stress and live better lives.

Chime

Chime is a technology-driven financial services company that offers a mobile banking app. The app provides a spending account, a debit card, and access to a network of fee-free ATMs. Chime also offers features like early direct deposit, automatic savings, and cash back rewards, aimed at helping users manage their money more easily and make the most of their financial resources. Chime’s mission is to use technology to make banking more accessible, affordable, and simple for everyone.

Chime does not currently offer a $50 instant loan app. However, the company does offer a feature called “SpotMe” which is a type of overdraft protection that allows qualifying Chime account holders to overdraft their account up to $100. This feature is intended to help users avoid costly overdraft fees and keep their account in good standing.

Varo

Varo is a digital banking platform that offers an instant loan app as part of its suite of financial products. The app provides personal loans to help users cover unexpected expenses or take advantage of financial opportunities. Loans are offered with competitive interest rates and flexible repayment terms, and funds can be deposited into the user’s bank account as soon as the next business day. Varo also offers other financial tools and services, such as a high-yield savings account, a budgeting app, and cash back rewards, aimed at helping users achieve financial wellness.

PayActiv

PayActiv is a financial technology company that offers an instant loan app. The app provides access to earned wages before payday, allowing users to avoid costly overdraft fees, payday loans, and other financial stressors. PayActiv integrates with an employer’s payroll system to allow employees to access their earned wages as they work, with no fees or interest charged. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

Branch

Branch is a financial technology company that offers an instant loan app for $50. The app provides short-term loans to individuals, helping them cover unexpected expenses or make ends meet until their next paycheck. Branch uses data science and machine learning to assess credit risk and provide loans within minutes, with competitive interest rates and flexible repayment terms. The company’s mission is to provide access to fair and transparent financial services and to help people take control of their financial lives.

How to get approved for the best $50 Instant Loan Apps?

To increase your chances of getting approved for a $50 instant loan from an app, consider the following tips:

1. Meet eligibility criteria: Make sure you meet the app’s minimum age, income, and credit score requirements.
2. Keep your finances organized: Make sure you have a stable source of income and keep your finances organized to demonstrate your ability to repay the loan.
3. Be transparent: Provide accurate and complete information when filling out the loan application.
4. Have a good payment history: A history of on-time payments can help increase your chances of being approved.
5. Check your credit report: Review your credit report to ensure there are no errors and to get an idea of your credit standing.
6. Be honest: Be honest about your financial situation and explain any potential challenges you may have repaying the loan.

Remember, different apps have different loan requirements and criteria for approval, so make sure to carefully review each app’s terms and conditions before applying. It’s also a good idea to shop around and compare multiple instant loan apps to find the best option for your needs.

Is it safe to use instant loan apps?

Using $50 instant loan apps can be safe if you take certain precautions. Here are some tips to help you stay safe:

1. Use reputable apps: Make sure to only use instant loan apps that have a good reputation and are regulated by the appropriate financial authorities.
2. Read the terms and conditions: Carefully review the terms and conditions of the loan, including the interest rate, repayment terms, and any fees or charges, to ensure that you fully understand the loan and can afford to repay it.
3. Protect your personal information: Make sure to only provide personal and financial information over a secure, encrypted connection and be wary of phishing scams or other forms of identity theft.
4. Repay on time: Make sure to repay the loan on time to avoid late fees, interest charges, and potential damage to your credit score.
5. Seek help if you have trouble: If you have trouble repaying the loan, reach out to the app’s customer service or a financial advisor for help.

Remember, using instant loan apps is a form of borrowing and should be approached with caution and responsibility. Make sure to only borrow what you can afford to repay and to understand the full terms and conditions of the loan before accepting it.

In conclusion, a $50 instant loan app is a mobile application that provides borrowers with access to small, short-term loans of $50 or less. These loans are designed to be quick and convenient, allowing borrowers to apply for and receive the loan funds within a matter of minutes or hours. The loans are usually unsecured, meaning they don’t require collateral, and are repaid on the borrower’s next payday or within a few weeks.

Instant loan apps use technology to streamline the loan application process, making it easier for borrowers to access funds when they need them. However, as with any loan, it’s important to understand the terms and conditions of the loan, including the interest rate, repayment terms, and any fees, to ensure that you fully understand the loan and can afford to repay it.

Work With the Right Financial Advisor

You can talk to a financial advisor who can review your finances and help you reach your goals (whether it is making more money, paying off debt, investing, buying a house, planning for retirement, saving, etc). Find one who meets your needs with SmartAsset’s free financial advisor matching service. You answer a few questions and they match you with up to three financial advisors in your area. So, if you want help developing a plan to reach your financial goals, get started now.

Systeme.io has burst onto the digital marketing scene, brandishing a bold claim as an all-in-one, free platform.

Let’s face it, when you hear something like that, your first thought is, “This has got to be too good to be true.”

That was my initial reaction too. A free, do-it-all software that doesn’t suck? Highly doubtful.

But here’s the shocker: Systeme.io isn’t just blowing smoke. It’s a game-changer. As someone who’s navigated the maze of digital marketing tools, I was prepared for disappointment. Yet, Systeme.io left me floored with its capabilities.

Take it from someone who’s been around the block with the likes of ConvertKit, AWeber, and MailChimp. These giants lure you in with free offerings, only to tighten the screws when your audience grows. Then there’s WordPress.org – great for setting up a blog, but it’s like climbing Everest if you’re a newbie.

Systeme.io, on the other hand, is a beast of a different nature. Offering highly effective landing pages and robust sales funnels with professional templates for free? That’s unheard of. It’s like stumbling upon a treasure chest in your backyard.

My first foray into landing page software was with ClickFunnels, an undeniably powerful tool. But once the 14-day trial evaporates, you’re staring down the barrel of a $100 monthly fee. Worth it if you’re a pro, but a gut punch for beginners.

That’s where Systeme.io plays its masterstroke. It lets you dip your toes with up to 2,000 contacts or email subscribers and three sales funnels before asking for a dime.

Yes, you can test it out 100% completely FREE.

And when the time comes to open your wallet, it’s less than $30 a month – an absolute steal for the arsenal of tools you’re getting.

The platform serves a multifaceted purpose, aiming to simplify the digital marketing process. It’s designed for entrepreneurs and businesses seeking an integrated solution for email marketing, sales funnels, website building, and more.

The importance of such a tool lies in its ability to streamline various marketing tasks, which are often scattered across different platforms, into one cohesive system.

How Systeme.io Works

The user interface of Systeme.io? It’s okay, but let’s not sugarcoat it. For a newbie who’s never dabbled in sales funnels or email campaigns, it can feel like being thrown into the deep end. It’s not the sleek, intuitive experience that tech gurus might rave about. But, and this is a big but, Systeme.io doesn’t just leave you hanging.

The saving grace here is their tutorials. These are goldmines for beginners. They walk you through the process, breaking down what could be an overwhelming experience into manageable chunks. So, while the interface might not win any beauty contests, the support system in place is BIG help.

Features of Systeme.io

At the core of Systeme.io are several key features that make it a comprehensive digital marketing solution. These include email marketing capabilities, sales funnel creation tools, a website builder, options for hosting membership sites, and affiliate program management.

Each of these features is designed to work seamlessly with the others, providing a unified experience. For instance, the email marketing service is notably efficient, rivaling established providers like ConvertKit, AWeber, and MailChimp, especially with its free subscription model that remains functional up to a certain point.

Here’s a sample template they offer for their email campaigns:

Here’s a breakdown of all the features Systeme.io offers:

• Email Marketing: Here’s where Systeme.io flexes its muscles. You can segment your audience, whip up personalized campaigns, and dive into analytics. It’s not just sending emails; it’s about sending smart emails. But don’t expect to master it overnight. There’s a learning curve, but it’s worth the climb.
• Sales Funnel Builder: This is where Systeme.io starts to shine. It’s not just about slapping together a few pages; it’s about crafting a customer journey. The drag-and-drop interface is decent, but it’s the strategic aspect that’s the real winner. Newbies might feel a bit lost at sea initially, but once you get the hang of it, it’s smooth sailing.
• Blogging and SEO: Systeme.io’s blogging platform is straightforward. It’s not the Rolls Royce of blogging, but it gets you from A to B. You’ve got your SEO-friendly tools, customizable URLs, and Google Analytics integration. It’s no WordPress, but it’s not trying to be.
• Automation and Workflow: Here’s where Systeme.io tries to simplify the complex. The automation rules are a time-saver, although they’re not the most advanced on the market. It’s like having a Swiss Army knife when sometimes you might need a specialized tool.
• Affiliate Program Management: Running your own affiliate program within Systeme.io is a neat feature. It’s a solid, if not spectacular, way to expand your reach without breaking the bank.

And if here’s a fancy table to help simplify it even more:

Feature	Description
Email Marketing	Advanced segmentation, personalized campaigns, performance tracking
Sales Funnel Builder	Drag-and-drop interface, user journey mapping, lead capture elements
Blogging and SEO	SEO-friendly tools, customizable URLs, Google Analytics integration
Automation and Workflow	Time-saving automation rules, efficient process management
Affiliate Program Management	In-platform affiliate recruitment, performance tracking, payout management

Benefits of Systeme.io

Cost-Effectiveness: Breaking It Down

When we talk about the cost-effectiveness of Systeme.io, we’re looking at a platform that offers a substantial suite of features without the hefty price tag that usually accompanies such versatility.

For starters, Systeme.io’s freemium model is a standout in the digital marketing space (click here to open a free account today). You can manage up to 2,000 contacts and create three sales funnels without spending a penny. This is a significant advantage for entrepreneurs and small businesses where every dollar counts.

To put this into perspective, let’s compare it with some industry counterparts. Platforms like ClickFunnels and Kartra, while offering robust functionalities, start their pricing at around $97 to $99 per month after their trial periods. This can be a steep investment for those just starting out.

In contrast, Systeme.io not only allows you to test the waters for free but also keeps the costs low even when you upgrade. Their paid plans, offering a broader range of features, start at less than $30 a month.

This pricing strategy makes advanced digital marketing tools accessible to a wider audience, breaking down the financial barriers that often hinder small businesses and startups.

All-in-One Platform: A Closer Look

The all-in-one nature of Systeme.io is its hallmark. It consolidates various marketing tools into one cohesive platform. This integration means you can manage email campaigns, build sales funnels, create websites, and even run affiliate programs without having to switch between different software. For many users, this integration simplifies the digital marketing process significantly, allowing for a more streamlined workflow.

However, it’s important to recognize that while Systeme.io covers a broad spectrum of functionalities, it may not offer the same depth as specialized standalone tools in each specific area.

For instance, while its email marketing capabilities are robust, they might not have the advanced features of a dedicated email marketing service.

Similarly, its website builder is competent for basic to intermediate needs, but it might not satisfy users looking for highly advanced web design features.

Ease of Use: A Realistic Perspective

Systeme.io aims to be user-friendly, and for the most part, it achieves this goal. The interface is designed to be intuitive, especially for those who have basic familiarity with digital marketing tools. However, for complete beginners, there can be a learning curve.

The platform offers a range of tutorials and support materials, which are invaluable for new users. I’ve watched (and rewatched) several of these tutorials to lean how to use their software.

These resources are designed to help users navigate through the initial complexity and make the most out of the platform’s features.

Drawbacks of Systeme.io: The Straight Talk

Customization: Not Quite There Yet

Let’s get real about customization in Systeme.io. It’s got a decent selection of templates and the interface won’t make you pull your hair out, but if you’re looking to really dive deep into customization, you might hit a wall.

For those who have grand visions of a highly unique and tailored digital presence, Systeme.io can feel a bit like playing with kid gloves. It’s great for getting you up and running, but for the more ambitious or specific design needs, it’s not quite the creative playground you might be looking for.

Growing Pains: Scaling Up Challenges

Now, onto scalability. Systeme.io is like that compact car that’s perfect for city driving but struggles a bit on the open highway. For small businesses or solo entrepreneurs just starting out, it’s a match made in heaven. But as your business grows and your needs become more complex, Systeme.io might start to feel a bit cramped.

This is especially true for larger businesses or those niche ventures that need more than just the basics. As you scale up, you might find yourself needing more sophisticated tools and features that Systeme.io doesn’t offer.

Plus, when it comes to playing nice with other tools or services you might be using, Systeme.io isn’t always the most cooperative. It works well within its own confines but doesn’t always reach out to others easily.

Systeme.io Pricing Structure

The pricing structure of Systeme.io is one of its most appealing aspects. The platform operates on a freemium model, offering significant functionality without any cost for up to 2,000 contacts or email subscribers and three sales funnels. This approach allows users to thoroughly test and experience the platform before committing financially.

When compared to competitors, Systeme.io’s pricing is highly competitive. For instance, platforms like ClickFunnels offer powerful functionality but at a higher cost, typically starting at around $100 per month after a free trial. This can be a significant investment, especially for new entrepreneurs or small businesses.

In contrast, Systeme.io’s paid plans, which provide access to a broader range of features, are more affordable, starting at less than $30 a month.

Comparative Analysis with Other Tools

To provide a broader perspective, let’s compare Systeme.io with other popular tools in the market:

Feature/System	Systeme.io	ClickFunnels	HubSpot	Kartra
Email Marketing	Advanced segmentation and automation	Basic email functionalities	Comprehensive email tools with CRM integration	Advanced automation and lead scoring
Sales Funnel Builder	Intuitive drag-and-drop builder	Highly customizable funnels	More focused on inbound marketing	Similar to ClickFunnels with added features
Blogging and SEO	Basic but effective SEO tools	Not a primary feature	Advanced SEO and content strategy tools	Limited blogging capabilities
Automation and Workflow	Simple automation rules	Complex automation capabilities	Extensive automation with CRM integration	Advanced automation but steeper learning curve
Affiliate Program Management	Integrated affiliate management	Available but less intuitive	Not a core feature	Robust affiliate management system
Pricing (Starting Plan)	Free plan available	$97/month	$45/month	$99/month

This comparison shows that while Systeme.io offers a comprehensive suite of tools at an affordable price, platforms like HubSpot and Kartra provide more advanced features in certain areas but at a higher cost. ClickFunnels, on the other hand, is more expensive but offers highly customizable funnel-building capabilities.

Is Systeme.io Legit?

User reviews and testimonials play a crucial role in understanding the real-world effectiveness of Systeme.io. Many users have shared success stories, highlighting how the platform has helped them streamline their marketing efforts and grow their businesses.

Upon reviewing their Trustpilot account, you can see the experience with Systeme.io is remarkable. Currently, there are 3,635 reviews with an average rating of 4.9. That is outstanding!

However, it’s also important to consider critiques and common issues raised by users. Some have pointed out the limitations in customization and scalability, as mentioned earlier. These critiques are valuable for potential users to set realistic expectations and for the platform’s developers to identify areas for improvement.

Comparing Systeme.io to Others

I currently have accounts with Systeme.io, Click Funnels, and Kajabi. To show you how they compare here’s a look at 3 different landing pages I’ve created each of them.

Here is a landing page I created with Systeme.io:

In comparison, here’s an older landing page I create with Click Funnels…

And just because I love showing you variety, here’s a landing page created in Kajabi..

When you factor in both Click Funnels and Kajabi only offer free trials (around 14 days) and you have to start paying after that, the Systeme.io funnel becomes THAT more attractive. Here’s a look at some of the templates they offer for free:

Final Verdict on Systeme.io

In essence, while Systeme.io is a fantastic starting point for new online businesses, offering a solid foundation and easy-to-use tools, it’s not the endgame for everyone.

As your business evolves, you might outgrow its capabilities and start looking for something that offers a bit more room to stretch your entrepreneurial legs.

It’s a great launchpad, but for those on a path to rapid growth or with highly specific needs, keep in mind that you might need to eventually graduate to more advanced tools.

How much are your property taxes?

In our county in Maryland, we pay a total of $1.442 per $100 of assessed value.

1.442% doesn’t sound like a lot, but the median home price in my county is around $580,000.

That’s $8,400 a year.

When I received my property tax assessment last year, it included a significant increase in assessed value. We renovated a section of the house, so part of that was justified, but it seemed like the jump was too high.

I decided to contest my property taxes myself and won. The process, which you can read about in the linked article, took several hours spread across several weeks. And I was “lucky” in that I was given a good result at the first stage (just filling out a form), so I accepted it.

If they rejected my claim and required me to plead my case to a live panel, I’m not sure I’d be as comfortable doing that.

Fortunately, there are services out there that will do it for you.

One of those is called Ownwell.

At A Glance

• Ownwell will appeal your property taxes on your behalf
• Monitors for tax exemptions based on your individual property
• No upfront fees – pay only upon successful reduction of property taxes
• Pay 25% or 35% of savings, depending on your state
• Available in California, Florida, Georgia, Illinois, New York, Texas, and Washington. (but expanding all the time so check your state)
• Average savings is $1,148

Who Should Use Ownwell

Homeowners and Real Estate investors who want to ensure they aren’t overpaying their property taxes should consider Ownwell. They will appeal your property taxes for no upfront costs and you pay a percentage of your savings if your appeal is successful. So there is no risk and no leg work for you.

Table of Contents

1. At A Glance
2. Who Should Use Ownwell
3. Who Is Ownwell?
4. In Which States Does Ownwell Operate?
5. When Can I Appeal My Property Taxes?
6. How Does Ownwell Work?
7. Finding Exemptions and Claiming Refunds
8. Automatic Annual Re-enrollment
9. Is Ownwell Legit?
10. Ownwell Fees
11. What are Ownwell Alternatives?
12. Is Ownwell Worth It?
13. FAQs
14. Summary

Who Is Ownwell?

Ownwell is a service that will contest your property tax assessments with your taxing authority so you can pay less in property taxes. They will also find exemptions and other tax savings you may not know about or have overlooked.

Ownwell was founded by Colton Pace and Joseph Noor in 2020. Pace’s background in investing and asset management gave him exposure to the various tools used by real estate investors, and he wanted to bring them to regular homeowners. The result is Ownwell, a service to contest property taxes.

Ownwell doesn’t operate in every state (yet).

In Which States Does Ownwell Operate?

Ownwell isn’t in every state and for some of the states they do operate in, they aren’t in every single county.

As of May 2025, they are in California, Florida, Georgia, Illinois, New York, Texas, and Washington. You have to double check that your county is included (it’s not feasible to list every county here though, California has 58 counties and Texas as 254!).

They are adding counties all the time, so the best way to know is to go to Ownwell and enter your address.

When Can I Appeal My Property Taxes?

The schedule for when you can appeal will depend on your state and, in some cases, the county within that state. They’re all on different schedules.

For example, in Maryland, this process only happens once every three years. In New York, and many other states, it happens every single year!

I asked Ownwell to provide a schedule (and they did) but it’s a little complicated and hard to share on a single screen… also, many dates are county specific and they cover so many counties that it’s unwieldly to list it all here.

The end result is that the simplest thing to do is sign up for Ownwell and then wait for your assessment to arrive. Then, enter in the details and decide whether you should use them to contest your appraisal.

As there’s no cost to sign up, you can use their technology to help you manage the schedule and decide later if you want to use them.

How Does Ownwell Work?

First, go to Ownwell and enter your address.

Since they don’t operate in Maryland, I chose a random property in Humble, TX (a suburb of Houston). They service Harris County.

Go to Ownwell

It may not be worth it for a homeowner to learn the ins and outs of protesting property tax assessments for $473, especially if it’s not a guarantee you’ll get any reduction. But if I owned this home and didn’t want to do it, I’d be perfectly happy hiring someone on a contingency basis (I pay only if they win) – which is how Ownwell works (more on fees later).

If you continue, you’ll be prompted to enter your information. (I’m using a demo account, if you do this yourself, enter your information)

The next few screens confirm information, like whether you purchased this property in the last 18 months and the property owner’s name.

The last page, after you’ve confirmed all the details, authorizes Ownwell to act as your Tax Agent. This lets them contact the taxing authority on your behalf and contest your property taxes.

From here, you can log in and check the progress of your protest.

I believe Texas publishes them in April, and then you have 30 days to protest.

This will vary from state to state and in Texas, you can(and should) do this every single year.

Go to Ownwell

Finding Exemptions and Claiming Refunds

In addition to contesting your assessment this year, they offer a service to determine whether you’re eligible for any tax exemptions. If they find any, they can even make claims on previous years to get a tax refund.

There are a lot of different tax exemptions out there and these are challenging to keep track of. For example, here in Maryland, we have an Agricultural Use Assessment that significantly lowers property taxes on areas where you have agreed to keep to agricultural use. I only knew about it because the previous owner had it.

We don’t grow anything (commercial) on the land, it’s all wooded, but that counts. The only requirement is that we get an arborist to certify an agricultural use plan every few years, and we get a huge discount on the assessed value of the undeveloped land. It has saved us thousands of dollars a year.

Ownwell looks for exemptions like that. And while you could file for these exemptions yourself (usually for free), they do so for the same fee structure.

Then, they will monitor your taxes each year to make sure everything is correct. If, for whatever reason, an exemption is left off, they’ll make sure to fix it.

Automatic Annual Re-enrollment

You must opt out of Ownwell if you don’t wish to use them every year. You automatically re-enroll unless you specifically opt out, which must be done two months before your county’s filing deadline.

You are still only charged if they successfully reduce your assessment though, so all the terms are still the same.

Is Ownwell Legit?

Ownwell is a legitimate company and what they offer is a service that is common in places with high property taxes and annual appraisals. In Texas, which has high property taxes and annual appraisals, there are a lot of companies and lawyers that offer this service.

In doing some research, I found this insightful comment from Reddit (it’s two years old but still accurate):

These companies are very common where I live (in Texas, which has very high property taxes).

They package up a lot of them together and settle with the county appraisal district. Around here they charge 40%-50%. They aren’t a scam to the individual but they certainly are at a different level – one of the largest ones in Houston is run by a lawyer that used to be the county tax appraiser and is now a state senator. His company knows how the game is played and profits from it.

Personally I generally do my own, but it takes a few hours to put together a good protest package and go in front of the appraisal board. I’ve generally won, mainly because I know what I am doing and put in a lot more effort on my individual property than the appraiser (who is doing hundreds of them) does. I kind of enjoyed the last one because I did so much better than the appraiser did before the board. He didn’t have his evidence together, and it was the end of the day and they were in a hurry to complete the docket and ruled in my favor.

If you don’t have time/don’t want to bother/not sure how to protest it’s worth a shot.

As you’ll learn below, Ownwell charges 25% in Texas (making it quite a bit cheaper) and depending on how much they can save, they can also save you several hours of work (and an appearance in front of the appraisal board).

Ownwell Fees

Ownwell operates on a success fee model – you only pay them if they win an appeal and lower your property taxes. They only charge you if your final property tax bill is reduced and they have a signed document from your taxing authority to prove it.

If they aren’t able to lower it, you pay nothing.

In California, New York, and Florida, the success fee is 35%. It is just 25% everywhere else.

For the above example, if Ownwell gets a $473 reduction in property taxes, I would pay them $118.25. I keep $354.75.

How does this fee compare to other companies? You should research this for your own state, as it will vary, but I found a tax firm in Texas that listed their pricing. On a single property, they charged 40% with a $149 minimum. For 2-5 properties, it was 35% with no minimum. Only 6+, it was 30%.

What are Ownwell Alternatives?

The biggest alternative is to call a local law firm that specializes in this same type of work. There are plenty of law firms that offer this. At this time, I’m not aware of a company that operates in multiple states.

The tradeoff with using a local law firm has to do with cost. They are typically not going to be able to work with individual homeowners and still be able to charge a small success fee. They often have minimum fees and will only take your case if they see it as being “worth their time.” In a quick search myself, I found that firms are very up front about this because contesting appraisals is time intensive and they don’t want to waste their time or yours.

As I mentioned in the above section about fees, I found a tax firm that charged 40% fee with a $149 minimum. In Texas, Ownwell charges just 25% with no minimum.

Home Tax Shield is an example of a company that operates in Texas. They charge a $30 annual fee and then a 30% success fee on tax savings. You can do everything online and they also use technology to streamline the process. If you assume they are similar to Ownwell, you’re paying $30 a year plus an extra 500 basis points on your savings.

Alternatively, you can reach out to your real estate agent to see if they can help. This will be dependent on how friendly and available your agent is to this type of help. Some may do it for free, seeing it as a part of their offerings, while others won’t.

Is Ownwell Worth It?

It depends on how much you value your time and how much of a return you expect to get. If I owned a home in which a protest was going to net me $500 and it’s something I have to do every year, I’d more more likely to pay Ownwell a 25-35% success fee to handle it all for me. With four kids and a slew of other responsibilities, the ROI on my time just isn’t there.

Also, the property tax assessment process varies from state to state. In Maryland, we only have to do it once every three years and I had a personal interest in learning the process (also, I was happy after the first round reduction – the work gets considerably more involved after the first round). I realize I’m a weirdo like that, most people don’t care and just want to save money.

The only thing I do know is that you must contest your property tax assessment. You may not win a reduction, but you have to do it. Those increases will compound so you have to keep the increases as little as possible.

If you aren’t going to do it yourself, getting someone else to do it is better than taking the increase.

Go to Ownwell

FAQs

Summary

Ownwell is a company that will appeal your property tax bill on your behalf with no upfront fees. You’ll pay either 25% or 35% (depending on your state) of the savings they can get you. If they are not successful at lowering your property tax bill, then their services are free.

You may have contributed to a Roth IRA and then realized later in the same year that you would exceed the income limit. You recharacterized the Roth IRA contribution as a Traditional IRA contribution and converted it to Roth again before the end of the year. Your IRA custodian sent you two 1099-R forms, one for the recharacterization and one for the conversion. This post shows you how to put them into FreeTaxUSA.

If you had done the recharacterizing and converting in the following year, you would have to split the tax reporting into two years by following Split-Year Backdoor Roth IRA in FreeTaxUSA, Year 1 and Split-Year Backdoor Roth IRA in FreeTaxUSA, Year 2. Now because you caught the problem soon enough before the end of the year, you can handle all of it in the same year by following this guide.

Here’s the example scenario we’ll use in this guide:

You contributed $7,000 to a Roth IRA for 2024 in 2024. You realized that your income would be too high later in 2024. You recharacterized the Roth contribution for 2024 as a Traditional contribution. The IRA custodian moved $7,100 from your Roth IRA to your Traditional IRA because your original $7,000 contribution had some earnings. The value increased again to $7,200 when you converted it to Roth before December 31, 2024. You received two 1099-R forms, one for $7,100 and another for $7,200.

If you didn’t do any of these recharacterizing and converting, please follow our guide for a “clean” backdoor Roth in How to Report Backdoor Roth In FreeTaxUSA (Updated).

If you’re married and both you and your spouse did the same thing, you should follow the steps below once for yourself and again for your spouse.

1099-R for Recharacterization

We handle the 1099-R form for the recharacterization first. This 1099-R form has a code “N” in Box 7.

Find “Retirement Income (1099-R)” under the Income menu.

Click on the “Add a 1099-R” button.

It’s just a regular 1099-R.

The 1099-R form for the recharacterization shows the amount moved from the Roth IRA to the Traditional IRA in Box 1. It’s $7,100 in our example. The taxable amount is 0 in Box 2a and the “Taxable amount not determined” box isn’t checked. The code in Box 7 is “N” and the “IRA/SEP/SIMPLE” box may or may not be checked. It isn’t checked in our sample form.

The recharacterization wasn’t a rollover.

FreeTaxUSA shows some alerts just to double-check. The zero taxable income on the 1099-R is correct. Code “N” in Box 7 is also correct.

You’re done with the 1099-R form for the recharacterization. Click on the “Add a 1099-R” button to add the other 1099-R for the conversion.

1099-R for Conversion

The 1099-R for the conversion has a code “2” in Box 7 if you’re under age 59-1/2 or a code “7” if you’re 59-1/2 or older.

It’s also a regular 1099-R.

Box 1 shows the amount converted to Roth. It’s $7,200 in our example. It’s normal to have the same amount as the taxable amount in Box 2a when Box 2b is checked saying “taxable amount not determined.” Make sure to choose the correct code in Box 7 to match your 1099-R. The “IRA / SEP / SIMPLE” box is checked.

Your refund number drops after you enter this 1099-R. Don’t panic. It’s normal and temporary. The refund number will come up when we finish everything.

It’s not an inherited IRA.

It’s a Roth conversion. 100% of the amount on the 1099-R was converted from a Traditional IRA to a Roth IRA.

You are done with this 1099-R for the conversion. Repeat if you have another 1099-R. If you’re married and both of you converted to Roth, pay attention to whose 1099-R it is when you enter the second one. You’ll have problems if you assign both 1099-R forms to the same person when they belong to each spouse. Click on “Continue” when you have entered all the 1099-R forms.

It asks you about the basis carried over from previous years. If you never contributed to a Traditional IRA in previous years, you can answer “No.” Answering “Yes” and entering a zero on the next page has the same effect as answering “No.” If you have gone back and forth before you found this guide, some of your previous answers may be stuck. Answering “Yes” here will give you a chance to review and correct them. If you have a basis carryover on line 14 of Form 8606 from your previous year’s tax return, answer Yes here and enter it on the next page.

The value in the first box should be zero if you never contributed to a Traditional IRA in previous years. If you had a small amount of earnings posted to your Traditional IRA after the conversion and you didn’t convert the earnings, enter the account’s value from your year-end statement in the second box. The third box should be zero because you recharacterized before the end of the year.

We didn’t take any disaster distribution.

Now continue with all other income items until you are done with income. Your refund meter is still lower than it should be but it will change soon.

Recharacterized Contribution

Now we tell FreeTaxUSA that we contributed to a Roth IRA before we recharacterized the contribution to a Traditional IRA.

Contributed to Roth IRA

Find the IRA Contributions section under the “Deductions / Credits” menu.

Answer “Yes” to the first question. An excess contribution means contributing more than you’re allowed to contribute. We didn’t have that.

Enter your contribution in the second box because you originally contributed to a Roth IRA. Answer “Yes” to “Did you switch or recharacterize.” We didn’t repay any special distribution.

Recharacterized to Traditional

Select “Yes” to confirm you recharacterized a contribution. It opens up additional inputs for an explanation. If you recharacterized 100% of your original contribution, enter it in the first box. It’s $7,000 in our example. We enter $7,100 from our example in the second box, which is the amount that the IRA custodian moved from the Roth IRA to the Traditional IRA when we recharacterized.

We didn’t contribute to a SEP, solo 401k, or SIMPLE plan. Answer “Yes” if you did.

Withdraw means pulling money out of a Traditional IRA back to your checking account. Converting to Roth is not a withdrawal. Answer “No” here.

The value in the first box should be zero if you never contributed to a Traditional IRA in previous years. The value in the second box should also be zero if you converted everything. If you had a small amount of earnings posted to your Traditional IRA after the conversion and you didn’t convert the earnings, enter the account’s value from your year-end statement in the second box. The third box should be zero because you recharacterized before the end of the year.

You see this screen only if your income falls below the income limit that allows a deduction for a Traditional IRA contribution. You don’t see this if your income is above the income limit. Answering Yes will make your contribution deductible but it will also make your Roth conversion taxable, which comes to a wash. It’s less confusing if you answer “No” here and make the entire amount that could be deducted nondeductible.

It tells us we don’t get a deduction because our income was too high or because we chose to make our contribution nondeductible. We know. That’s why we did the Backdoor Roth.

The refund meter should go back up now.

Taxable Income

Let’s look at how these entries show up on our tax return. Click on the three dots on the top right above the IRA Deduction Summary and then click on “Preview Return.”

Look for Lines 4a and 4b in your Form 1040.

It shows the sum of your two 1099-R forms on line 4a and only $200 is taxable on line 4b. The taxable amount is the difference between the amount you converted to Roth and your original contribution.

Form 8606

Go toward the end of the pop-up to find Form 8606. It shows these for our example:

Line #	Amount
1	7,000
3	7,000
5	7,000
13	7,000 *
16	7,200
17	7,000
18	200 *
footnote	* From Worksheet-1-1 in Publication 590 B

There’s also a statement to describe your recharacterization at the end.

Troubleshooting

If you followed the steps in this guide and you are not getting the expected results, here are a few things to check.

The Entire Conversion Is Taxed

If you don’t have a retirement plan at work, you have a higher income limit to take a deduction on your IRA contribution. If you have a retirement plan at work but your income is low enough, you are also eligible for a deduction on your IRA contribution. FreeTaxUSA gives you the option to take a deduction if it sees that your income qualifies.

Taking the deduction makes a corresponding amount of the Roth conversion taxable. Answering “No” in the “Do you want to take your IRA deduction?” page will have you taxed only on the earnings in your Roth conversion.

Self vs Spouse

If you are married, make sure you don’t have the 1099-R and the IRA contribution mixed up between yourself and your spouse. If you inadvertently assigned two 1099-Rs to one person instead of one for you and one for your spouse, the second 1099-R will not match up with an IRA contribution made by a spouse. If you entered a 1099-R for both yourself and your spouse but you only entered one IRA contribution, you will be taxed on one 1099-R.