Wealth Building 101

A journalist once asked Albert Einstein what he considered mankind’s greatest invention to be. Without missing a beat, Einstein replied, “The compounding of interest.”
 
I like this quote because it makes a point that too many financial gurus tend to overlook, namely that wealth is really just a function of savings and investments plus time. You don’t need to be a financial genius (or even a scientific genius) to get started. Here are a few tips to get you on the path to building the most financially secure future possible:
Make a budget and pay yourself first. Make personal savings a line item in your budget, not something you contribute to whenever you find yourself with a few spare dollars. Have your payroll department divert the amount you want to save from your take-home pay into a separate savings account. If you don’t see the money, you won’t spend the money. When you’re ready, you can transfer money from a savings account into an investment account where it can grow more quickly.
 
Take advantage of an employer-sponsored 401K. Employer-sponsored retirement accounts, such as a 401K, 403B, or TSP can help you grow your retirement savings. If your employer offers a matching contribution, find out what the match is and contribute enough to earn the full match. If your employer matches contributions up to 5%, then if you save 5% of your salary in your 401K, your employer will match that for a total savings of 10%. If you can make your savings as a “before tax” contribution, then you will not pay income taxes on the money you save now.
 
Open a Roth IRA. An Individual Retirement Account, or IRA, is a personal retirement savings account. Money you put into a Roth IRA is not tax-deferred, so you don’t get a tax break for saving. But your money grows tax-free in a Roth IRA, so you won’t pay taxes on any future withdrawals you make from this account.
 
Invest in Exchange Traded Funds (ETFs) or Mutual Funds. ETFs and Mutual Funds are good options for a new investor looking to set up a  diversified portfolio. ETFs are fund vehicles that are traded on stock exchanges. There is no minimum investment required to buy into an ETF, and your gains can be automatically reinvested. Mutual Funds are professionally managed portfolios often referred to as a “basket” of stocks and securities. They tend to be a safe way to invest over the long term.
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Rahul Kulkarni, Asst. COO

Rahul Kulkarni serves as the Assistant Chief Operating Officer for RINO INVEST. In 1999 he earned a Bachelors degree in Mechanical Engineering before receiving his Masters in Business Administration with a concentration in Marketing from the University of Pune. In his spare time he enjoys bird watching and spending time with his wife and son.

Favorite quote:
“I don’t believe in taking right decisions. I take decisions and make them right!”
Sir Ratan Tata

Diego Castiblanco, Web Developer

Diego Castiblanco works as the Web Developer of RINO INVEST, He got his degree in Computer Science from The Universidad Distrital Francisco José de Caldas in 2017, he worked as a full-time Web Developer in UpWork which is one of the best freelancing platforms, he got the Top Rated Plus tag due to his dedication and professionalism serving clients from start-ups to big companies.

Favorite quote:
“It’s not what happens to you, but how you react to it that matters.”
Epictetus

Barbara Babcock, Curriculum Designer

Barbara Babcock is a Learning and Development Consultant and Financial Educator. Her passion is creating technology-rich learning solutions for Fortune 500 clients in the finance, technology, and engineering industries. She holds a Masters Degree in Educational Technology Leadership from The George Washington University and an undergraduate degree in Economics from the University of Dallas. She is also an emerging professional photographer whose work has been shown in various locations in Austin and Santa Fe.

Favorite quote:
“Experience is making mistakes and learning from them.”
Bill Ackman

Matt Pettit, CIO

Matt Pettit serves as the Chief Investment Officer of RINO INVEST. He is a 2015 Graduate of Wofford College with a degree in Accounting. He also serves his country as a Captain in the United States Army Reserve.

Favorite quote:
“Money is a terrible master but an excellent servant.”
P.T. Barnum