Online Purchase Installments: Good or Bad?
Key Takeaways Many online retailers offer the option to pay for items in installments. Installments may seem like a good idea, especially when there’s 0% interest on a purchase. Be careful not to jump at these offers too often, otherwise your monthly payments may become overwhelming.
Are You Honest With Yourself About What You’re Spending and Saving?
Key Takeaways A significant percentage of millennial and Gen X investors lie about their spending or saving habits. However, millennial investors rank honesty as the most important quality in their financial advisors. Without honesty, you can’t expect progress.
The New SECURE Act: The Good News & The Bad News
Key Takeaways The new SECURE Act was passed on December 20th, 2019, and it affects retirement distributions. There are both positives and negatives associated with the SECURE Act. The new rule took effect on January 1st, 2020, and it’s a good idea to know how it will affect any funds you may inherit in the […]
Should You Be Your Own Stock Trader?
Key Takeaways Brokerage firms have recently stopped charging fees for stock trading, in an effort to attract more millennial investors. These fees were never very high to begin with, so this shift is more a change in principle than anything else. Investors who decide to take stock trading into their own hands may want to […]
Living Within Your Means: How it Affects Your Happiness
Key Takeaways It’s human nature to compare ourselves to others, and comparing incomes and lifestyles are no exceptions. There appears to be a “happiness threshold” where one’s happiness doesn’t increase with incomes over $75,000. Understand that living within one’s means is going to vary, based on income levels, so rather than compare yourself, consider what […]
Do You Suffer From Decision Fatigue Around Money?
Key Takeaways Decision fatigue can creep into our lives in many situations, but when it comes to making decisions about our finances, it can be especially difficult. If you’re trying to tackle decisions around money, there are three basic categories to consider: cash flow, taxes, and your balance sheet. A good financial professional can help […]
Do You Know How Much You Should Be Saving For Retirement?
Key Takeaways Down the road, in retirement, you may want to abide by a safe withdrawal rate to ensure you don’t run out of money. A safe savings rate might be more relevant to you if you’re decades away from retirement. If you’re delaying saving for retirement, you might be surprised how much more you’ll […]
How to Get the Most Out of Saving for Retirement
Key Takeaways Compound interest is a powerful thing. If you’re not participating in the stock market, you’re likely missing out on the power of compound interest. The recommended guideline of saving 15% of your income for retirement makes the assumption that you’re earning compound interest.
Five Rules to Abide By When Dealing With Identity Theft
Key Takeaways Never readily give away your personal information. By putting your personal information on social media, you have a very high probability of having your identity stolen. There are rules you can follow to help protect yourself from identity theft.
Do You Have a Will to Protect Your Family?
Key Takeaways A whopping 78% of millennials do not have a will or advance directives in place. Without these, your loved ones may run into legal issues if you become incapacitated or pass away. Think of a will as a love letter to your family, taking care of them after you’re gone.