Community Ideas The Complete Guide to Building Your Own Halal Index Fund Inflation is here and has already eroded the purchasing power of your money. The price of many essential goods and services has increased, straining the pursestrings of households everywhere. In times like these, preserving the value of your money is paramount. A tried and tested strategy is investing your money
Community Ideas 7 Halal Ways To Beat Inflation Inflation is on the rise and is truly a global problem. Advanced economies, emerging markets, and developing economies are all seeing an increase, although for different reasons. It is important to inflation-proof your finances and investment portfolio wherever you are. A good starting point would be to figure out the
Community Ideas 5 Halal Investment Strategies That Work (And How to Pick the Right One for You) Most of us invest decades into our education to find a career from which we can make an income. From early schooling to university or apprenticeship programs, we spend a lot of time and often a lot of money. Yet, once we settle into our careers and obtain a regular
Community Ideas 4 Ways to Purify Your 401(k) from Haram Earnings A note to the reader: In my last piece, I shared the importance of a 401(k) retirement account and explored the different ways you can set it up in a halal way. Below, we’re going to focus on some practical ways you can cleanse any impermissible earnings in
Community Ideas Is My 401(k) Plan Halal? A note to the reader: In this article, I will be using the term “401(k)” for the sake of simplicity. This article will also apply to you if your employer offers you a 403(b) or a 457 plan. The terms and conditions of these types of accounts are
Community Ideas 3 Lessons on Managing Your Wealth from the Legacy of Uthman ibn Affan Uthman ibn Affan – Allah be pleased with him – is one of the most prominent Companions of the Prophet (peace be upon him), and one of the few known to have been remarkably wealthy. Let’s explore some aspects of his relationship with money. The early life and trade of Uthman
Community Ideas A Muslim's Guide to Becoming Financially Independent and Retiring Early (FIRE) How do you spend your time? For most of us, this usually involves some combination of sleep, work, sustenance, education, prayer, exercise, and leisure. Balancing all of these activities is one of life’s great struggles. Work is perhaps the area we have the least control over, as the majority
Community Ideas What is Islamic Finance and How Does it Relate to Me? If the pandemic has taught us anything, it’s the importance of a good chair and a stable wifi connection. Aside from that, though, the pandemic has allowed a whole host of investors to get to grips with building wealth. More and more millennials and zoomers alike enjoy the benefits
Community Ideas What Makes an Investment Halal? Retail investing has surged over the last two years, primarily due to the pandemic, as people found they had more cash in their wallets and more time on their hands. Within 5 minutes, an amateur investor can now purchase stocks in the largest companies in the world. This was supported
Community Ideas What Behavioral Finance Can Teach Us About Making Better Financial Decisions We know that emotions play a role in making financial decisions. As much as we’d like to think that personal finance is as easy as “spend less than you earn and save the rest,” there’s a whole lot of nuance that goes along with it, and it’ll
Community Ideas Are NFTs Your Next Halal Investment? Investing has become THE go-to topic, dominating group chats and financial choices across the globe. Unlike the 2008 recession, we’re seeing a rise in retail investors dictating market performance. More than 15 million Americans downloaded a trading app during the pandemic - with 6 million Americans downloading a trading
Community Ideas A Muslim Couple's Guide to Achieving Financial Success You have big financial goals for yourself and your family but for some reason, they don’t seem to translate into your everyday lives. Why might you ask? I’m going to share a fundamental framework to help you achieve your shared financial goals and what has fueled my family’
Community Ideas 3 Investing Lessons from a Wall Street Legend Millions of people started investing for the first time in 2020, and for many of them, it was excellent timing. The market saw tremendous gains as companies bounced back from the pandemic-induced crash in March 2020. To illustrate this, the S&P 500 index, which is widely used as
Community Ideas 4 Reasons Why You Can't Rely on Social Security or State Pensions for Retirement Do you have money taken out of your paycheck every month that you're hoping to see again when you put your feet up and stop working? Are you hoping this money will help cover your costs in retirement? I’d suggest you reconsider that plan. Social Security (US)