Finding a financial advisor that you respect and trust is not always an easy task. And considering the fact that you are entrusting this advisor with your hard-earned dough, it is not a decision you want to make in a hurry or without all the information. In order to ease the search many people turn to the financial institutions that they already have a relationship with and secure a financial advisor within their bank.
Does your child have non-traditional pursuits of interest? It doesn’t have to be odd interest like collecting all those single socks that come up missing in the laundry for some unknown ongoing school project. His thing could be something you don’t have an interest in, nor, do you believe it’s worth sacrificing for, like editing digital photography or developing gaming programs.
Step 1: Don’t be a dream crusher. … Continue Reading
Will a raise, a second jog or overtime grant you financial freedom? No. Only you can create your own financial independence.
Last week, I heard an incredible interview on NPR with Peter Buffet and Renee Montagne. Peter shared his insight on the inheritance he did and did not receive from his father Warren Buffet (one of the wealthiest men in the world).
Peter talks about his appreciation for the support and encouragement he received from both his parents as he was growing up. Warren Buffet has stated publicly that his children will not inherit his wealth. In fact, when Peter was 19, he was given an inheritance of $90,000 and nothing thereafter. … Continue Reading
Although discussing investment strategy is a little like discussing religion, I thoroughly enjoy an honest debate on different investment strategies. One thing I’ve noticed, however, is that many people do not first examine their own beliefs about market behavior and investment philosophy before developing an investment strategy, which can lead to inconsistencies between beliefs and behavior.
Here are questions that should be wrestled with and resolved before developing an investment strategy.
It gives me great pleasure to introduce to you today’s guest blogger, LaRon Carter. He is a former U.S. Marine (OOORAAAH!) and has a HUGE heart for kids. We’ve become acquainted over social media, Twitter and Facebook, and he brings a very powerful message today for tomorrow’s leaders. I LOVE how he integrated “Money Smart” into this post…awesome LaRon! Semper Fi, brother!!
Enter LaRon Carter:
Did you hear the news about yesterday’s Dow Jones Index losing 900 points in a 20-minute period? It even has the SEC regulatory authorities looking into it. There is speculation that a trader may have mistakenly made an error in typing in the wrong numbers. Instead of million, a trader may have accidentally entered a billion shares to sell.
I sure hope that the current success of the Dow Jones Index, S&P 500 Index and other stock market indicators do not fool anybody in thinking that we are out of the woods, yet. It caused some stocks to go from $40/share to pennies, then come back up again. How stressful is that? I mean, if you are a nurse, firefighter or entrepreneur, do you really have time to babysit the stock market?
You are in for a treat…I wish I had someone who had answered this question for me many years ago when I decided to leave the military and launch my business. Where would I be today if I knew now, what I wished I would have known back then! There are so many dynamics that impact this decision about your personal financial situation in starting a business, I am glad that Dorethia Conner can shed her wisdom to answering this pressing question. She is also connected with me on Facebook so be sure to send her a friend request too.
Enter guest blogger, Dorethia Conner – Financial Coach
Contributed by Tim Berry, JD – Tax Attorney
Awhile back I wrote an article about how most people are not doing the proper planning for inheriting assets. This issue really came to light over some email correspondence with some bankruptcy trustees.
It seems a trustee had come across an inherited IRA and felt it didn’t meet the technical definition of an IRA for bankruptcy exemption purposes. Since the bankruptcy trustee didn’t believe the inherited IRA met the definition of an IRA for exempt asset purposes, the trustee is now filing a motion to take the inherited IRA away from the debtor.
Chances are the bankruptcy trustee is probably going to take Mom and Dad’s hard earned money away.
Guest post contributed by #1 voted financial advisor in Akron, OH – Joel Wymer of Tax and Financial Strategies.
We have been teaching over the last several years that many conventional financial strategies have proved themselves to be wrong. The recession has exposed gaps and holes in “what most people will teach you” about how to save for retirement, build financial security throughout your career and pay off your mortgage, to name a few. I’m so glad that I have another financial advisor, friend and financial crusader that can resonate this message with me. Joel Wymer was on our financial talk radio show last year and I asked him if he would contribute to our blog. I am honored that he obliged! Joel has been voted the #1 financial advisor, according to the Beacon-Journal, of Akron, Ohio. As Terrell Owens would say, “Getcha popcorn ready!”
Enter Joel Wymer:
Many of us try and try again to improve our health. We try to eat healthier, exercise regularly, or commit to healthy living and only a small percentage succeed.
So why do so many people fail to live a healthier lifestyle:
They believe they have no time. If you exercise 1 hour every day of the week, you are only exercising 4% of your time. Are you worth 4%???? During this small time investment, you manage your weight, increase your stamina, ward off viral illnesses, reduce conditions such as heart disease, high blood pressure, type 2 diabetes, stroke and certain types of cancer. You are also strengthening your heart, keeping your arteries clear and it reduces stress. Only 4% of your time gives you all these benefits. Don’t have 1 hour per day? Break in up into 10 minutes segments, it gives you the same results as a full hour.
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