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Showing posts from 2016

40 Money Management Tips from Professionals

When it comes to making financial decisions and managing your money, who do you ask for tips or advice? We think it’s always a good idea to consult with experts, and that’s how we pulled together these bits of financial wisdom. Here are 40 money management tips from experts that you can apply to your own trading, investing, saving, and financial planning:
1. “For each investment you make, you really, really have to understand the risks that you're taking. Don't outsource that task to your financial advisor…. If you're not willing to do that work, you should just keep your money safely in a bank.”
Greg Collett Formerly COO of Deutsche Bank's commodity ETF business, currently a lawyer representing defrauded investors.
2. “You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.”
Dave Ramsey Host of …

Retirement Planning Tips that Truly Matter

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As each New Year begins, we see a deluge of effective recommendations on how to improve financial planning.
If there is anything worth mentioning in the past two decades that we have been dispensing retirement planning advice to numerous people, it is the fact that those who take a proactive stance have achieved positive results while those who failed to protect themselves with sufficient safeguards encountered disastrous results.
With 2017 here, we focus on a few recommendations we consider essential in coming up with an efficient retirement planning strategy.
Essential Planning Tip #1: A Retirement Plan
Seek the help of a professional financial adviser to create a retirement plan for you.
A retirement plan is essential in charting your course on the right path for a secure retirement future, to avoid scams and put your hard earned money into waste. If you are not a professional financial practitioner, do not do it yourself in order to avoid committing errors or overlooking crucial a…

Becoming More Savvy in Personal Finance

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With the year 2017’s entry, we find ourselves pondering upon what we attained in 2016 and, more importantly, what we need to do in 2017 in preparation for the years ahead of us. Breaking it down into its simplest ideas, our efforts must be toward achieving three essential things: Becoming healthier, wiser and wealthier. The steps needed to build our wealth are as follows:
Separate insurance from investment
Majority of people often put off planning their tax and investment requirements until the last few weeks of the financial year. And usually, they try to simplify their difficult problems by getting insurance. They may end up saving on their taxes; however, they can benefit more from wiser investing. Besides, the common endowment insurance policy provides minimal income and will provide the highest potential for creating enduring wealth. Moreover, the death benefits you get from insurance are not sufficient to address long-term financial needs of your dependents. The better solution …

Effective Financial Strategizing Tips For 2017

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What does 2017 hold for us all? With the new administration in place, many Americans are figuring out ways to improve their finances and setting goals for the current year. The fact is that many of these people will fall short of their financial objectives and some will not even get moving at all, neglecting their financial well-being altogether. Start enhancing your financial health in 2017 with these 12 effective tips. Take a good look at what these expert educators, who educate experts to teach other experts and who deal with numerous financial advisors, have to share in order to raise your 2017 financial planning to a higher level. Your journey to building financial security begins with the first important step which is to learn the essential principles.
Tip # 1- Increase Your Retirement Savings
“Here are three effective steps to increase your retirement savings. First, put savings on an automatic income-withdrawal scheme, such as salary deferrals to 401(k) plans, automatic monthl…

Making 2017 the Year to Save: 10 Tips on How to Hack It

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Before December comes to an end, most people commonly write down their resolutions for the New Year. And for countless individuals, one of their goals is to "save money". Easier written than done; because in spite of the good intentions, a big majority of these optimistic people fail by the second month of the year and their savings accounts remain stagnant (if not depleted) and their spending fly out of the window.
There must be an effective way to succeed in this most challenging mission. Here are 10 suggestions to help you finally hack it.

1. Set a specific savings objective

Hit the ground this New Year running – the better to burn those holiday calories away -- with a specific savings objective for 2017. Make sure the goal you set is quantifiable, attainable, realistic and suitable. Avoid being too optimistic and setting an unrealistic savings objective, which will increase your chances of not achieving your goal.
A sensible objective for saving requires having a definit…