Personal finance, like just about everything else, is mainly common sense. Advice like “don’t spend more than you make; start investing while you’re young; don’t loan money to friends with the expectation of getting it back,” have been around for generations, and most likely will survive the next few generations as well.
As we draw closer to the last quarter of 2018, Americans are starting to think more about the changes to the U.S. tax code. Though the tax code has been tweaked in recent years, it’s been 27 years since the last major revision that took place under President Reagan.
If you’re currently in the market for a home, it will speed up the process considerably if you’re familiar with the various mortgage options available. Finding a mortgage that suits your current financial needs can be challenging, but understanding the various types of mortgages available and their requirements can make the process less challenging.
Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000.
For many early 20-somethings that are freshly graduated and are now facing credit card and loan bills, the last thing on their mind is investments.
Homeownership is the American dream. But is it for everyone? From a young age, purchasing a home is synonymous with success. However, there are some circumstances that need to be taken into account before making the decision to buy a home.
Fear of the Inevitable End Any investor knows the markets’ great returns over the last couple years. Most non-investors out of jealousy will undoubtedly be talking about the next stock apocalypse where everyone will need to batten down the hatches and hopefully start to hide that money in their mattress. Yes, market declines are a common thing.
We live in a society that values intelligence. For the most part, this is a great thing. However, we have placed an extreme amount of emphasis on being well-rounded. This is a good thing, right? Being able to do a little bit of everything? Maybe so, but economics shows that it may also lead people down the road to poverty. Imagine if people thought they are educated in everything.
How many times have you failed to do something out of fear? Or, talked yourself out of doing something because of it? What do we do when we're afraid? Well, it seems to me that is when one’s survival skill to follow the pack kicks in. When it comes to money, is anyone you’re following doing as well as they should? Given the statistics, I would say that is it an overwhelming NO.
When looking for any professional advisor, it is important to be able to match their characteristics, temperament, client profile and experience level to your own profile.