Archive for November, 2008

Five Tips on Picking a Financial Advisor

Posted November 22, 2008 by Bernz

780691A financial advisor is someone who you really need to trust because he is investing your most valuable resource, your money in the form of your risk capital. There are a few initial things to remember at a minimum, any advisor should have at least one (usually both) of these credentials: CHFC – Chartered financial consultant or CFP – Certified financial planner. All registered advisors have an ADV which goes through their compensation, education, and how they invest. It is very helpful in helping you learn about them so ask for one!

So here are 5 things that you should look for in a good financial advisor.

Tip 1:

Look for a comprehensive financial planner who can coordinate an overall plan to deal with your investments as well as your education, retirement, estate, insurance, and tax plans. Specialization is nice, but if you are looking for someone to help you coordinate all of this, then he needs to be able to manage it all with you.

Tip 2:

Go independent! Financial planners through companies are great for their resources, but can only sell products through that company which put them and you at a disadvantage. (more…)

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Posted in Retirement Planning | 1 Comment »

Stretch your holiday fund without skimping the fun

Posted November 20, 2008 by Bernz

The holiday shopping season starts in about two weeks. Retailers are worried as sales dipped 2.8% in October. It’s definitely the season for less spending. Here’s a thought: think how much we would all save if we shopped in our own personal closets, entertained at home and ate from the food stored in our pantry. I think with imagination in most cases it shouldn’t be a problem. Even so I thought I’d offer up these cool ways to stretch your holiday shopping budget and still have fun.

If your office is doing the gift exchange thing this year and you’re nervous that it doesn’t fit into your Christmas budget, suggest that your office or department draws names and the gift you buy for a person must match the gift recipient’s name initials.

For instance, Doug Brighton could receive a Detective Book. Peggy Hall could get a pencil holder or pink hat. Charles Pruitt might receive a Cherry Pie or Cotton Pullover. The advantage over this gift exchange is that it’s a unique twist on traditional name pulling and there’s an array of choices that meet your spending budget. For example you could select a paperback book, one that’s hard cover, or purchase book on tape. Another plus is that regardless of your gift choice it will always be letter perfect. (more…)

Popularity: 18% [?]

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Posted in Misc | 2 Comments »

Cool Financial Calculators

Posted November 19, 2008 by Bernz

inside-calcMeet your financial goals, track expenses, budget carefully. These free financial calculators help you do the numbers so you can manage your money.


Just click the links and then fill in the blanks.

Emergency Savings Calculator

Home Budget Calculator

Mortgage Calculator

Adjustable Rate Mortgage (ARM) Calculator

Gas Price Calculator

College Cost Calculator

Credit Card Pay Off Calculator

Loan Pay Off Calculator

Social Security Benefits Calculator (more…)

Popularity: 11% [?]

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Posted in Financial Education | No Comments »

What’s the BIG deal about a 401K? Think Free Money!

Posted November 18, 2008 by Bernz

Think of a 401K as a sign on bonus that comes with a job offer because if your employee benefits include a 401K plan that is essentially what you’re getting.

20071213_401k_18A 401K is a retirement investment account funded by money that comes directly from your pay check. In other words these funds are automatically deducted from your pay check and they are not taxed. After the money is entered into your 401K it can then be allocated to different types of other investments such as: bonds, stocks, mutual or money market funds.

Many employers offer to match your 401K contribution. This is where the bonus part comes in. Let’s say you contribute $75 a month to your 401K and your employer matches your contribution dollar for dollar, you’ve earned another $75. An even better part of the deal is that as long as your money stays put, it draws interest. That’s additional earnings on top of your savings. And yes, the interest earned is not taxed. Other advantages of contributing to a 401K plan include: (more…)

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