Retirement can sneak up on you. At one time, it seemed like a lifetime away, now it may be just around the corner. At one time you planned on working forever, but now you can admit that the thought of retiring has its benefits. Perhaps you’ve found yourself daydreaming about a little cabin on a lake, or a small home in the mountains. You may have even entertained the notion of becoming an expatriate and...
If you’ve spent more than five minutes on a kid’s television network, you’ve seen just how inundated young kids are with commercials for everything from the latest gadget, to some dreadful snack that features something gooey and/or messy. It’s also safe to bet that many of these kids run to their parents, wanting to buy some or all of these items. It’s difficult, if not impossible for younger kids in particular to understand the dynamics...
Are you an investor looking to diversify your investments, or perhaps you’re a new investor looking for something other than traditional stocks and bonds to invest in. No matter what your situation, investing in art can prove to be lucrative, if you do your research. While novice art investors can be initially intimidated by their lack of knowledge in the field, educating yourself as to the variety of options available will go far in reducing...
If you’ve only just begun your career and are starting to collect a decent paycheck, the last thing on your mind is probably retirement planning. When you’re in your twenties and thirties, retirement can feel light years away, but it will get here much quicker than you can imagine. And when it does, you’ll want to be prepared. And for those in their 40s and 50s, remember that it’s never too late to start saving...
If you’re ready to start saving towards your financial goals, you may want to consider hiring a financial advisor to guide you through the maze. While robo-advisors are also available to help you with your savings goals, they are best suited for those just starting out or for those with limited funds to invest. But if you want solid, professional advice on where you should put your money, a financial advisor can be the answer...
If you’re still unsure about investing in stocks or have questions on how buying stocks actually works, here are a few quick questions and answers about the entire process, from what exactly is a stock, to how do you buy stock. What exactly are stocks? While the term may be confusing, the actual answer is less so. Stocks are simply a share of the ownership of the company that you’re buying stock in. Of course...
If you’re a beginning investor, it’s likely you’re concentrating on building your portfolio. But as important as it is to build that portfolio, you should also ensure that it’s diversified. Why is a diversified portfolio so important? There are three key reasons why diversifying is important: A diversified portfolio helps minimize risk. Stocks can be a risky investment at any time, but with a diversified portfolio, you can help minimize the risk by spreading that...
Managing finances properly is mainly common sense. While we’ve all made financial mistakes, most of those mistakes are easily rectified, particularly when promptly corrected. However, there are some financial decisions that can be much harder to recover from. Here are just a few of them: Spending more than you make. This usually occurs when overusing credit cards. The temptation is there, particularly for those fresh out of college, to use credit cards to pay for...
The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test. Here are the troubling trends, as well as some tips on how to avoid them: Credit card debt is on the rise. As of the end of December, 2018, consumer credit card debt...
Sometimes simple is best. Many of us tend to complicate our financial situation; overthinking our options while ignoring the basics. But like anything else, the simplest rules are often the most important ones; and the ones most likely to be ignored. How many of these rules do you follow? ALWAYS spend less money than you make. This may be the cornerstone of financial rules and it’s certainly the one that lends itself more to common...
Whether you like it or not, a good credit score is essential. Your credit score factors into everything from insurance rates, to whether you get the job you applied for. A good credit score is also needed to buy a house, obtain cell phone service, rent an apartment, and buy a car. Of course, life happens, and your credit score can plummet. Perhaps you lose your job and can’t pay your rent or mortgage, or...
Created as a result of the Great Depression, The Social Security Act was signed into law by President Roosevelt in 1935; mainly due to the rise in poverty of the nation’s elderly population. The act was designed to provide retired workers ages 65 and older with a continuing income after retirement. The first Social Security card was created in November of 1936, with the numbers assigned by geographic region. To date, more than 450 million...
