Archive for Financial Literacy
Online, on television, in magazines—advertisements telling you to check and improve your credit score are everywhere. With good reason, since that three-digit number can determine your ability to get a loan for a home or car, as well as influence your interest rates on those loans. In addition, potential employers, insurance companies, cell phone carriers and landlords may use your credit score as a gauge of your trustworthiness.
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Your Most Valuable Asset: You
Posted by:When people list their assets, they generally recount bank accounts, real estate holdings, automobiles, retirement accounts and stock portfolios. But the key to all those assets is the individual whose earnings fund them. You are your most valuable asset and you deserve the same management you give your other assets.
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The last months of the fiscal year—and the coming winter holidays—make this an excellent time to consider tax-deductible charitable donations. By starting now, you will have time to make smart decisions about your donations, while still ensuring that your giving is done before end-of-year.
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Taking the Money Journey
Posted by:Kate and Kevin1 met at an investing seminar at their workplace. They were in their 20s and just out of college, but they both understood the importance of having early for financial goals. As soon as they could, Kate and Kevin each began making pretax contributions to their employer’s 401(k) plan. As young investors, they had a real advantage: time. Over time, their savings would benefit from compounding—the continuing reinvestment of investment earnings.
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Set a High Standard: The Fiduciary Promise
Posted by:Putting your money—and your trust—in the hands of a financial professional is a big decision. When you hire a financial advisor, it is essential that you understand his motivations, his compensation and what standards he is held to.
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Madoff Scandal Teaches Valuable Lesson
Posted by:Learn the warning signs that indicate potential for fraud.
2008 saw more than its fair share of upsetting financial news. In December 2008, Bernard L. Madoff was arrested by federal agents—a day after his sons turned him in for running what they said their father called “a giant Ponzi scheme.” Madoff was a former chairman of the NASDAQ and a force in Wall Street trading for nearly 50 years. People trusted him and his “get rich quick” investment plan based not only on incredible returns, but on his credentials as well.
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Focus Forward to Flourish in the Future
Posted by:The best way to weather market volatility is to make smart, informed decisions.
The question I hear most often from investors who do not have a fee-only financial advisor is, “What should I do now?” Here are some basic strategies to determine what is right for your investment portfolio now—and for your mental well being.
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Patience, a diversified portfolio, a long-term personal plan and a sense of realism are important, too.
Financial literacy is a hot topic, in schools, businesses and the media. In 2003, the Financial Literacy and Education Commission was established to improve financial literacy of people throughout the U.S. with efforts geared toward education and outreach.
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