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Yes and no. You should never close your very FIRST credit card as that is your oldest line of credit and will help by showing your established credit history. Additionally, you should never close a credit card with a balance due. 

If you don't need your score in the near future (AKA you’re not planning on applying for a loan, changing jobs, etc), closing an account shouldn’t affect your score and if it does, it should be able to recover quite quickly.

Making someone an authorized user means you are giving that person permission to use your credit card, regardless of whether they are related to you or not. One of the pros is that you can share this card with your spouse or even your employees at work without having to open another card. Additionally, that person can help build your credit and improve your score.

The two main disadvantages are that you are now sharing a credit limit (how much you can spend on that card) with someone else, and you are solely responsible for the spending habits of that person.

You can check out all of our student, travel business, and cash back credit card recs here!

Because your 401(k) is employer-sponsored, it doesn’t automatically follow you if you switch jobs. We recommend rolling it over into an IRA for a couple reasons:

An IRA is a tax-advantaged retirement savings account that allows you to personally choose your investments to best reach your goals. Plus, IRAs typically have lower maintenance fees than employer-provided 401(k)s, but they often have a wider selection of investment options so that you can find the offer that best fits your needs and goals.

Basically, an IRA gives you the most BANG for your buck, and we are all about that.

We recommend you let our official partner, Capitalize, handle the rollover— they even help you choose the IRA that will best fit your needs and give you the most peace of mind for your financial future. You won’t have to do ANY heavy lifting. Instead— let their expert agents provide white glove concierge service.

Unlike 401(k)s which are usually sponsored by your employer and include an “employer match,” IRAs are tied to you and you only.

In addition to being an individual account, the other unique difference between a 401(K) and an IRA is that in a normal year, you have 15 months to contribute (instead of 12). For example, you can contribute not just from January to December of 2020, but also from January to Tax Day of 2021. So, you have about three months extra to hit that max.

Learn more about the three different types of IRAs here!

We just published an FAQ about this transition in Stock Market School. Click below to learn more and for videos that help walk through how to use your Schwab account!

Click Here

Typically this is just because a TD Ameritrade account needs to relinked to Treasury. To relink the account you can go to the menu in the top right of Treasury and select ‘Accounts.’ From there select ‘Connect another TD Ameritrade Account’ and log in to TD. Once relinked the Investment Value on Treasury and TD should be the same.

One thing to note here, in your portfolio on Treasury we show Investment Value and cash separately. TD Ameritrade will often lump the value of your investments and your uninvested cash into a single number.

Treasury supports linking brokerage accounts so that you can track your investments and, if you have a linked TD Ameritrade account, use the Treasury platform to make investments. There are two different ways to link accounts to Treasury:

TD Ameritrade accounts can be linked directly by going to Accounts in the Treasury Menu and selecting ‘Connect TD Ameritrade Account’

For non-TD Ameritrade accounts, Treasury uses a service called Plaid to link investment accounts so you can track your investments in one place and see other Stock Market School community members who have the same investments as you. Plaid supports connecting more than 12,000 financial institutions and are constantly adding more. 

To link an account via Plaid go to Accounts in the menu on top right and select ‘Connect other Investment Account.’

Treasury does not currently support linking bank accounts, just Brokerage (another name for investment accounts).

Yes! If you want to connect multiple TD Ameritrade accounts you need to link them in TD Ameritrade (by logging into TD and selecting the button that says "+ Link / Add Accounts"

Once your accounts are linked on the TD Ameritrade side you'll be able to see and use both of them in Treasury!

We’d be happy to look into this for you. Please email welcome@treasury.app and a member of the team will investigate.

We’d be happy to look into this for you. Please email welcome@treasury.app and a member of the team will investigate.

I really love the collections of funds we've created within the Treasury platform. You can research them here, but if you're wondering what to buy and how to distribute your funds, these are a great place to start. When bought together, they provide diversification across different types of investments.

Hey there! A couple resources that should help ya out:

First, you should consider your age/target retirement date. This will impact how much is recommended to invest in bonds vs. stocks. We provide a rundown of bond best practices and some recommendations here that will be helpful.

Additionally, if you decide that you actually want to diversify by investing in stocks, or rather funds (groups of stocks) we have curated collections here. When bought together, they provide diversification across different types of investments. Hope this is a good start!

We are a team of specialists with experience in finance, however, Tori is not CPF certified. Therefore, we do not act as financial advisors. We cannot create your portfolio for you and manage your investments as financial planners do. The purpose of Stock Market School is to provide the education, ongoing resources, and community forum for you to learn how to do it yourself! You get to see what other members (including Tori) are investing in and be able to make personalized decisions based on your investment goals.

I've seen multiple members write in with similar situations, and your position is significantly more common than you would expect! It's true that your timeline will look a little different, however, investing principles work exactly the same way, whether you are 23 or 53. In Stock Market School, we teach investing fundamentals and help you curate and automate your investments to fit your* goals and timelines. Through the initial Investing 101 workshop as well as our community and blog resources, you'll learn how much you need to retire and work backwards to create your own investing plan. We also have a Community forum, and when you join I would highly suggesting writing in to connect with others who have a similar timeline as you. 

We recommend taking 3 or 6 months and calculating your average income and expenses.

One budgeting method that works well for those with fluctuating income is the zero-based budget. It’s basically where you create a new budget every month and every single dollar you make has a purpose— whether it be for a savings goal, an expense, or discretionary spending.

You can learn more about budgeting for beginners here!

For Canadian Finances, click here.
For resources for France, the UK, and Australia, click here.
For our international glossary, which we try to update regularly, click here.

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