The financial planning process can be a wake-up call for many, mostly because people tend to have multiple revelations as the process unfolds. Recently, a client emailed to tell me she was surprised at just how much money she spends. As I told her, this is a normal reaction for someone who is getting acquainted…
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When it comes to investing, most who are successful use a simple formula to achieve results. For starters, successful investors actually research different investment strategies before moving ahead – and this is after they study their strategy’s fees and historical data. Lastly, successful investors typically pick a single strategy and stick with it for the long…
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The internet and its many financial independence bloggers have made the idea of “early retirement” all the rage. If you earn plenty of money and invest it wisely, early retirement enthusiasts say, you can quit work earlier than your peers and enjoy decades of freedom before you reach old age. The good news is, these people are absolutely right….
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What Is an Annuity? An annuity is a financial product. It’s one possible way people can invest money. Technically, an annuity represents a contract made between the insurance company and the person who bought the annuity. When you purchase an annuity, you can make a one-time payment for it. In exchange, the insurance company promises…
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At the risk of throwing salespeople everywhere under the bus, I’m going to share a few stories that might change the way you think about how these professionals are compensated. Let’s start at the beginning. Recently, I asked my life insurance agent for an increase in my disability insurance policy. (You can learn more about…
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Cosigning a loan may, at first glance, seem like a fairly straightforward, no-risk way of helping a loved one secure a student loan or a refinancing. Having a solid cosigner may result in better loan terms or a lower interest rate. But everyone should be fully aware of what it actually means to cosign, and…
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If you’re thinking of using a long-short mutual fund as part of your investment strategy, you may want to think again. Despite what you may have read in an investing magazine, this investment plan isn’t for the faint of heart. The reason why is simple: Most money managers who successfully use a long-short strategy are exceptionally skilled….
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If you got a tax refund of $4,500, would you spend it or invest it? If you’re like most people, you’d be thrilled to see that cash land in your account. It could pay for an awesome vacation or wipe out some credit card debt. But if you’re also investing in a 401(k), that $4,500…
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