Submitted by Rob Gabridge on Fri, 11/22/2013 - 12:00pm
You make a decent living, maybe even border on rich. Can you maintain that wealth and if so for how long? Here’s some perspective on how to build true wealth.
Part of the American Dream hinges on the freedom to pursue prosperity and success through hard work. We Americans enjoy the personal liberty to determine our own path in life; our capitalist society supports a path to financial freedom.
Submitted by Tom Orecchio on Tue, 11/12/2013 - 12:00pm
An emergency fund acts as a safety net, protecting you and your family from unforeseen circumstances where you need cash immediately. But you must be smart when you set it up, and know how to use it and for what purposes.
Emergencies are things we don’t want to even think about. But guess what? They do happen. Life can be full of unexpected obstacles. Having cash at hand will help you by providing you with more options and preventing you from taking on debt at the worst time possible.
Submitted by Maureen Crimmins on Fri, 11/01/2013 - 3:00pm
Many of your savings habits, good and bad, begin in your early years. You can stash money in scads of places. Here are a few.
I remember my first passbook account and the excitement of savings to call my own, dollar by dollar duly recorded in a passport-like book that slipped neatly into my pocket.
The major gift-receiving occasions in my young life let me watch my money pile up in the little blue booklet. I felt the joy of my own rainy-day fund and imagined numerous scenarios of spending it one day soon.
Submitted by Eric Hutchinson on Thu, 10/24/2013 - 9:00am
You diversify your portfolio, passively or actively manage your holdings and wait for your returns to roll in. Depending on your holdings, a few factors chew your returns before you see them. Here’s what to look for.
Submitted by Sterling Raskie on Thu, 10/17/2013 - 3:00pm
We make financial choices constantly. Dine out or save that extra money for retirement. Save in our employer’s retirement plan or hit the latest movie. These are opportunity costs that add up. Here’s why.
We buy something or buy nothing. Sometimes we walk rather than drive, pack a lunch rather than eat out and save money rather than spend it. These opportunity costs we give up to take advantage of another opportunity. Alternatives cost in terms of benefits you receive by taking an alternative action.
Submitted by Mary Beth Storjohann on Mon, 10/14/2013 - 3:00pm
You two share your home, your bed, your hopes and dreams. Should you also share a bank account? The short answer: “It depends.”
Combining accounts sometimes simplifies dealing with finances or results in one person turning money responsibilities over to their partner and no longer engaging in the family’s financial planning. Keeping separate accounts complicates tracking expenditures though allows two financially independent people to still control their pocketbook.
Submitted by Rick Kahler on Fri, 09/13/2013 - 3:00pm
More than a fourth of Americans think the best long-term investment is money in the bank. How tragically wrong they are.
This preference for bank deposits is the rather discouraging finding of a July survey by Bankrate. One of its questions was, “For money you wouldn't need for more than 10 years, which one of the following do you think would be the best way to invest the money?”
Submitted by Mark J. Foley a... on Fri, 08/30/2013 - 12:00pm
How do you ensure proper asset diversification? As financial advisors, we face this question all the time.
The first hurdle is to get clients to tell us about all their holdings. It is rare that we get to review the whole picture at one time. Most do not provide complete information or comprehensive records. It’s not because they do not want to, but because they often do not know or have not kept organized records.
Submitted by Hilary Martin on Thu, 08/15/2013 - 12:00pm
When your kids near college age, you need to do everything you can to prepare them for financial adulthood. Many parents neglect this duty and hope that, like an infant thrown into a pool, their teenager learns to swim in deep financial waters with no instruction.