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As the Trump economy begins, here are four money moves millennials shouldmake before Inauguration Day.
If your employer matches your contributions, then its a win-win, Greene-Lewis said.
you could also consider contributing to your IRA.
Greene-Lewis also recommended millennials take advantage of the Retirement Contributions Savers Credit, also known as the Savers Credit.
It is a special tax break for low- and moderate-income taxpayers who are saving for retirement.
The maximum credit amounts are $1,000 for individuals and $2,000 for married households filing jointly.
These can be easily purchased throughonline brokerage accountslike Fidelity or Vanguard.
Peters recommended considering the funds expense ratio.
This is the cost to own that fund, he explained.
Look for funds that charge less than 0.25%.
So, alternative assets might be thesafest inflation hedge.
By creating multiple income streams, you are not overly reliant on one.
Several studies found that about half of all millennials have a side hustle.
According to statistics compiled byMillennial Money, millennials make an extra $12,689 a year from side hustles.
Millennials can offset inflation by cutting discretionary expenses, leveraging budgeting tools and prioritizing essential needs, Stroup said.
In addition, millennials can change their budgeting strategy to reflect their priorities.
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