AdviceIQ Articles

  • Know Your Worth on the Job

    How much are you worth to your employer? The answer to that question determines how much money you make and how much you can salt away. If you can figure out the answer to the question, it will aid you in earning more, whether with your current employer, or another.

    Let’s say you’re 21 years old and will work for the next 40 years at an average salary of $50,000 per year. Over your working life you earn $2 million. Let’s also assume that you save 10% of your annual paycheck and get a 5% return.

    This means that when you reach retirement you have $603,000.

  • A Time of Hollow Good News

    Things look great, right? The economy is growing, unemployment is waning and housing is rebounding. What a shame this good news is hollow.

    Markets go up and markets go down, so maybe it’s not surprising that January’s stock market performance had less exuberance to it than the performance we became accustomed to last year.

  • How to Support Adult Kids

    You give to your kids, in one way or another, their whole lives. Your financial generosity must taper when the children grow to adults. Here’s why and how to cut back.

    Speaking recently about financial literacy at a conference, I received energetic applause when I argued it was unhealthy to give kids everything they ask for. I specified that this also goes for adult children who boomerang back into their parents’ lives. The cheers grew a lot louder.

  • Finding Money for Your IRA

    Funding a retirement account is not as hard as you may think. It takes some diligence. When was the last time you found $5,500 lying on the sidewalk? Or under your bed? Or randomly added to your bank account?

    What if I told you it is relatively simple to find enough money ($5,500, to be exact) in your current budget to fully fund one of the most important retirement savings plans available to you – the Roth individual retirement account? This method works whether you are in Generation Y or older.

  • What Forecasts to Believe

    Market and economic forecasts for 2014 abound throughout the financial news media, especially cable shows. Take them with a ton of salt. Even someone who makes a great call once is unlikely to repeat that feat. Several one-hit wonder pundits showed us that. Better ways exist to direct your investing.

    There is only one forecast that is guaranteed to be accurate.

  • Lessons in Buying Used Cars

    Cars constitute some of your biggest purchases. Here’s how to buy smart.

    My beloved car died unexpectedly. I will never buy a new car, which loses thousands of dollars in value the minute you drive it off the lot.

  • Your Guide to Investing Sites

    You can start investing easily if you recognize and use the entry-level players. Here’s what to know.

    I love investing and love encouraging others to invest. This rundown of investing sites shows you how easily you can start investing, the plethora of online options and different strategies you can try and how to erase any doubts you can invest on your own.

  • Stock: The First Shall Be Last

    Many of the biggest winning stock sectors of 2013 are the largest losers this year. This reversal stems from a move from last year’s predominantly risk-on thinking (confident investors opted for riskier stocks) to the current, more pessimistic risk-off outlook.

    Your response to this turn-about should be to ignore the temporary gyrations and analyze these stocks deeply, before you buy, sell or hold them.

  • Selecting a Wealth Manager

    Choosing an advisor is not easy. Nor should it be. Here are a few questions to ask as you start the process of selecting an advisor, as well as red flags to avoid at all costs.

    ·         How does the advisor get paid? Is she or he commission-based or fee-only? A fee-only advisor does not accept any type of commissions for product sales. For advisors who are compensated by commissions, you pay them as you execute trades.

  • How to Move to a Roth 401(k)

    You need the most flexibility possible when funding your retirement. But moving your retirement money into a Roth 401(k) is a complex subject, and there are plenty of pitfalls to watch out for.

    Here’s how new regulations do and don’t benefit you.


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