Cybercrime and the Darknet
Cath Senker
This quick read warns the reader of the Darknet and shows the true depths that it can span. Through a mix of stories, legal reviews, and privacy exploitation, it takes the reader through an understanding of how the Darknet can be used maliciously and what rules are broken when used inappropriately. It does use some technical jargon, but does a relatively good job of introducing terms and giving brief explanations.
It is really aimed to give defensive professionals an idea of what the Darknet is, and a basic understanding of the attack vectors that come along with it, to better withstand against them. If you've heard the term "Darknet" and don't have a great understanding of it, this would be one book that is worth the quick read.
Book on Amazon
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]]>Top 10 Cybersecurity YouTube Channels
Looking for resources to learn technical security skills and stay up to date with the industry? Check out these YouTube channels!
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]]>Intro to Budgeting
Within budgeting, there are a variety of methods you can use. We'll walk through a few with general guidance, but you will want to adapt these programs to what fits your situation best!
50/30/20
Dave Ramsey Method
You've probably heard of them before: they're called the Baby Steps. Designed to get you OUT of debt fast and into good standings with your income. Until you reach step 3/4 you really shouldn't be spending any money on "wants", only on "needs" in an effort to pay off debt fast and avoid paying interest.
Step 1: Save $1,000 for an emergency fund
Step 2: Pay off all debt (except for mortgage)
Step 3: Save 3-6 months of living expenses
Step 4: Invest 15% of your income for retirement
Step 5: Save for kids College funds
Step 6: Pay off your home
Step 7: Build wealth and give back
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]]>Mutual Funds
Group of stocks managed by investment firm using a pool of investor’s capital. Share prices only change after market close and do not require purchasing whole shares, marginal shares/dollar amounts can be purchased. Will have an expense ratio, which are fees taken by the investment firm for managing and balancing the funds.
ETF’s
Like Mutual Funds, a group of stocks aimed at mirroring a certain sector or common trait of companies (tech, pharma, oil, EV, etc.) ETFs do trade throughout the day and are only available as shares of stocks (must purchase full share). They will also have an expense ratio.
Individual Stocks
Ownership in a public company, some stock shares will grant voting rights. Individual shares are not as diverse as mutual funds or ETFs and may be considered putting your eggs in the same basket. While it provides greater potential for profits if the individual company’s stock increases, it also provides greater risk.
Bonds
Loans issued by companies or governments to raise capital. Bonds typically have a set return over a given number of years or months. They are considered “safer” than stocks because of the guaranteed return and the risk of the company defaulting or going bankrupt, which would also affect stock prices to a greater extent. Bonds are classified based on the risk of the company, government-backed bonds (I and EE Series) are known as the most secure since they have the “full faith and backing of the United States government”.
Cryptocurrency
The newer investment type consists of “coins” or currency that is mined by solving algorithms with computers. The corresponding coins can be traded and used to purchase goods and services through the blockchain, which is a public ledger of who owns every coin. They can be purchased in fractional coins through crypto exchanges like Coinbase and Binance. The value of a coin is dependent on its supply and demand of it, similar in some ways to how stocks are valued. Cryptocurrency tends to fluctuate more than any other type of security. Since it is new, it is important to do your own research and see if cryptocurrencies fit your investment risk tolerance.
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]]>Types of Accounts
Congrats!
Either you just started a new job, or want to learn more about retirement account options at your current job. Below you will find the differences between account types and when it makes the most sense to use which one.
Disclaimer: We are not financial advisors. This is only used to inform and educate.
401(k) or 403(b)
Only available if sponsored by your employer. 403b is for non-profit corporations, while for-profit will utilize a 401k. For any discussions, we will assume a 401k since they are more common, but both will have similar structures. They are commonly available as a Roth or Traditional depending on the tax advantage that you are seeking. Often times employers will match up to a certain percentage of what you contribute. Make sure to research your specific plan in case of any nuances as specifics can differ slightly from plan to plan.
Drawbacks:
- Can only contribute $20,500/year (check here for limit placed by IRS)
- Cannot withdraw until after age 59 ½ (otherwise penalty)
- Limited by Employer investment options
Benefits:
- Tax Deferment (Traditional) or Tax-Free Growth (Roth)
- Employer Match (Free Money)
Roth IRA
Can be set up by an individual if they have taxable income for that year. You contribute after-tax dollars (Pay income tax for it that year). The benefit of the Roth option is you do not pay any taxes when you withdraw the money as long as you pull it out after you are 59.5 years old and it had been started at least 5 years prior. If taken out prior to the age limit, and not used for a qualified distribution (ie. House down payment), it is suspectable to a 10% penalty. Please check the current regulations to minimize or avoid penalties if withdrawing.
Drawbacks:
- Can’t withdraw until after age 59 ½ unless a qualifying event
- Can only contribute $6,000/year (Current Limits)
- Income Limits to Contribute (Single < $129,000)
Benefits:
- Tax-Free Growth
- Self-Managed/Not Employer Dependent
Traditional IRA
Can be set up by an individual if they have taxable income for that year. Any contributions are Pre-tax (lowers taxable income for that year). By deferring these taxes, it is beneficial if you are in a higher tax bracket than when you would be retiring. Gains are still taxed with a traditional IRA, which is one of the main reasons that a Roth is preferred by many.
Drawbacks:
- Can’t withdraw until after age 59 ½ unless a qualifying event
- Can only contribute $6,000/year
Benefits:
- Deferred Taxes
- Self-Managed/Not Employer Dependent
HYSA
A High Yield Savings Account (HYSA) is an alternative savings account that provides a higher interest rate than a traditional savings account. While normal savings accounts provide 0.05% interest (or a fifth of a percent), HYSA will normally range from 1-3% depending on market rates. The only disadvantage with an HYSA, is that it may require 2-3 days to transfer money back into a checking account. Marcus is one of the more notable accounts currently offering 1.7% APY
Drawbacks:
- It may take a few days to transfer money
Benefits:
- Earns higher interest rates than a traditional savings account
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