Posts tagged Starting Out
Is it too early to start a portfolio for my one-year-old child?

It is definitely not too early and I commend you for taking advantage of the incredible returns you can get by starting an account at one year old. I am assuming your child will not need the money for at least 18 years so a stock-heavy portfolio would be appropriate. I would even be comfortable with a 100% stock portfolio assuming . . . .

Read More
How do I find the right financial advisor for me?

Finding the right adviser is difficult but not impossible. You will want to research advisers and then set up appointments with at least three or four of them. An adviser should be a fiduciary, should not be a commissioned. . . .

Read More
Should we invest in stocks or pay off student loans with money gifted to us from our wedding?

I encourage the two of you not to consider this as an either/or situation, but instead use the money to provide for multiple goals. Focus on multiple goals to help you achieve both financial stability and a happier life . . . .

Read More
I want to invest some of my savings with a long-term strategy to use to pay back the loans I will be taking out for school; what kind of investment strategies or accounts should I consider?

Before we discuss the investment opportunities for paying back the loans, start by talking with a financial planning specialist to identify additional financial aid opportunities to offset the schooling costs. Although it's great you . . .

Read More
Will my husband's financial advisor be able to learn about my personal credit card debt when reviewing our finances and joint tax return?

No, your financial adviser will only have access to information approved and provided by you and your husband. This information may come out if you and your husband were to submit your credit reports to the adviser for. . . .

Read More
How should I get out of debt?

Other than the credit card debt, your other debt and your housing costs actually look quite good. If you can get the credit card debt paid off, you'll be doing very well financially. Your best bet is to make minimum payments on your student loans and your car loan and put everything you can . . . .

Read More
Should I take a lower salary working for my family or pursue a higher paying job for a good company?

From your question, it seems like you truly think working for the bank is the right choice, and I agree. You are not the only person who is going through a situation like this, although it might feel that way. I am also a professor of entrepreneurship and at least once a year I have a student . . . .

Read More
What is the safest way to earn a higher interest rate on our money than by using our traditional savings account or a money market account?

In order to stay within your "safest" criteria, you would want to stick with an FDIC or NCUA insured account. You can get slightly higher interest rates by shopping around for high-interest savings accounts from online banks and credit unions. Currently (November 2018), rates on savings accounts are….

Read More
Do Credit Cards Charge Interest on New Purchases If One Is Paying Off a Balance?

When credit cards carry a (any) balance they charge interest on the entire amount, even purchases, on a daily basis. So there is a difference, because the client in scenario B would accrue interest daily on the purchases they made that month, while in scenario A they are only accruing interest . . . .

Read More
How To Keep The Recent Market Drops From Ruining Your Financial Plan

The end of last week saw a stock market drop which has many spooked and supposed experts have been using words like ‘market crash’, ‘historic drop’, and ‘recession’. Here are the 5 things you should do to keep the market downturn from ruining your financial plan.

Read More