Creating Financial Plans

That New Year’s Resolution

Did you make a New Year’s resolution earlier this month? The smartest one is to get your finances in order. Here is a framework for making that resolution stick.

Handling a Big Inheritance

You dream of your long-forgotten rich uncle dying and leaving you a fortune. What if you really do get a lucrative windfall? Realize that it can easily slip away. How do you stop that from happening?

The 1% Savings Secret

Your salary grows every year – presumably – and so should your savings, if even in tiny amounts. Here’s how it all adds up.

Personal finance writing uses 1% a lot lately – either as the figure to annually increase your savings or as the select slice of the population the financially aspiring want to join. Can consistently saving 1% more each year help you gain entry into the top 1% we heard much about over the past few years?

Nobel-Winning Investing

Recently the Nobel Prize committee awarded three economists who have different points of view and who themselves chuckled at their shared winning. Here’s what you can learn from each.

The Questions Advisors Ask

You or your financial advisors rely on many tools to explore and improve your financial situation. Here’s why one of the most critical is curiosity.

Financial planning software abounds for financial planners and individuals. To me, asking questions and the dialog they create might constitute the most important financial planning tool.

When I first speak with you, the prospective client, either in person on the phone, I ask many questions.

Prepping for a Hazy Future

Your future arrives before you know it. But since we can’t predict what it will bring, how do we prepare for it? By making plans and doing that as early as possible. Here are some wise words to help you seize your moment financially:

“By failing to prepare, you are preparing to fail.”Benjamin Franklin.

Need a Planner or a Manager?

If the terms “financial planner” and “investment manager” seem interchangeable to you, know that many people — even financial professionals — goof in differentiating. Understand the difference to maximize your financial well-being, and here’s how.

Confusion reigns because the terms don’t just describe job titles; they refer to distinct parts of the integrated financial processes of financial planning and investment management.

Passive Investing, Actively, Pt. 2

While passive investing – meaning, using index funds – is the smartest course, you have to actively oversee your holdings. Circumstances change and not every index fund is a keeper.

Continued from our initial article on this recently, here are the remaining keys to help fine-tune your core passive investment strategy for optimum success.

Face Your Financial Fears

As a child you pulled the blanket over your head to ward off the monsters. Your financial future is no monster – if you think ahead – but some people still insist on pulling up their blanket. Here are some sobering numbers and ways to get planning while you still have time.

For its “Fear of Financial Planning Consumer Study,” Harris Interactive surveyed 783 adults with at least $100,000 in investable assets. Some of the results scare any financial planner:

Passive Investing, Actively

Index funds, which track the entire market or portions of it, do best for investors over time. These funds are called passively managed, because their components get selected automatically, according to index movements. But you shouldn’t be passive about managing them. You must be very active.

A fundamental principle I preach is that having a core of passively managed mutual funds is the foundation of successful long-term wealth building. I practice that principle, as well: About 75% of the securities in my personal portfolio are passively selected.


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