Financial Planning

This category deals with the financial planning process and the requirements needed for success.

New Years Resolutions That Stick – Set Meaningful Goals

New Years Resolutions are an annual tradition for approximately 40% of Americans. Of the millions of people who set resolutions for the year, it is estimated that less than 10% actually succeed. Despite the best of intentions, why is it that most people do not accomplish what they set out to do? There are a …

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Living Trust – The Ultimate Cure All For Estate Planning?

Many people begin their estate planning efforts by drafting a will. Another common way people address their situation is through the use of a living trust. Living trusts have gained popularity in recent years, especially among those of the “baby boomer” generation. It is now common to see generic documents and online kits. Many of …

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Index Funds and Mutual Funds – What Should You Look For?

For the vast majority of investors, index and mutual funds are the preferred way to gain access to the stock market. In general, mutual funds are a pool of investments funded by shareholders that trades in diversified holdings which are selected and managed by a professional. Index funds are a pool of investments that match …

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Understanding Investment Asset Classes – Why Is It So Important?

I often discuss the benefits and advantages of having a diversified portfolio. What exactly does that mean? A critical point to understand is the importance of having various asset classes in your portfolio. An asset class is simply a group of stocks or bonds that share similar characteristics. These businesses are not necessarily in the …

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Money Friction – How Can You Strengthen Your Relationships?

Money friction can end up being the main source of disagreement in a relationship. You are probably familiar with the common statistic that roughly half of American marriages end in divorce. Out of those marriages, estimates are that between 35 to 50 percent of them ended because of money problems and disagreements. Throw in a …

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Diversified Portfolio – Don’t Put All Your Eggs In One Basket

“The best offense is a good defense”. That popular phrase usually applies to sports. However, you can make a strong case that it is also very appropriate for your finances!  You are aware of the fact that you need to increase risk in order to gain greater returns. Likely, your emotions tell you to play …

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Investment Advice – Avoid the Noise and Build Your Own Strategy

Every day, we are all inundated with advertisements. Whether we are watching television, surfing the internet, or reading a magazine, advertisers are working hard to grab your attention and your money. The financial industry is no different. Investment advice often comes in a nice commercial package. Chances are you will see several ads in a …

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Credit Cards – Should They Even Be In Your Wallet?

Nothing brings out more mixed emotions than the credit card. Various financial writers feel that credit cards are pure evil.  They will give you countless of examples of people who abused credit cards and ended up in financial ruin. Other experts will mention the many benefits that credit cards offer. You might get the impression …

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Car Leases – Are They the Right Fit For Your Circumstances?

I do not think there is one thing that causes more debate in the financial community than car leases. You could read 100 different articles on buying versus leasing and probably get 100 different opinions. Some writers would probably rather see you burn the cash in a large pile than lease a car because they …

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