Archive - 2016

1
How to Make Your Saving Automatic
2
One Example Of What Is Wrong With Commission Based Investment Advice
3
Start Discussions About Your Financial Goals in the New Year
4
6 Year End Tips for a Financially Productive 2017
5
Higher Interest Rates: One and Done or More to Come?

How to Make Your Saving Automatic

Sometimes it can be difficult to save for emergencies or for retirement. While physically not demanding, the mental strain can be a hump that is hard to get over. In other words, we experience a little bit of “pain” or mental anguish if we have to physically hand over money or write a check.

So how can we overcome this anguish? Automate.

First, determine how much you need for an emergency. This can either be to start the fund or to replenish amounts that have been used. Generally, it’s a good idea to have 3 to 6 months of non-discretionary …

Read More

One Example Of What Is Wrong With Commission Based Investment Advice

A recent article entitled “Merrill Lynch FAs Must Refer Clients or Get Pay Cut” showed just one example of what is wrong with commission based investment advice. It opened with this explanation:

Merrill Lynch brokers will now have to refer at least two clients to other units of parent company Bank of America next year if they want to keep the same pay, people familiar with the matter tell the Wall Street Journal.

Advisors who don’t make the quota will lose 1% of their pay, those sources tell the Journal. The referrals can be made to Bank of

Read More

Start Discussions About Your Financial Goals in the New Year

In “Key End-of-Year Money Talks You’ll Be So Glad You Had,” LearnVest offers advice that can be used all year around. Any talk you have at the end of the year, you can also have at the beginning of the year. In some cases, approaching financial planning at the beginning of the year when we have a sense of optimism and a desire to set things right may be more effective than and end-of-year wrap up.

Discuss Compensation with your Employer. Much of your financial planning is affected by how much you earn. There are many ways to increase earnings …

Read More

6 Year End Tips for a Financially Productive 2017

Maroon Bells – Photo courtesy of Jason Raskie

As 2016 comes to a close in a few weeks and we start into 2017, here are some good tips to consider to start 2017 off with some good strategies that will hopefully become habits.

  1. If you’re not doing so already, set up your payroll deductions to save the maximum to your 401k. There’s plenty of time to your payroll allocated so your deductions start coming out on the first paycheck in January. The 2017 maximum contributions are $18,000 for those under age 50 and $24,000 for those age 50 or older.
Read More

Higher Interest Rates: One and Done or More to Come?

We all know that we’re paying more for almost everything these days. Everything, of course, except money. Interest rates have been at historical lows for more than eight years, even though the economy has steadily improved over this period.

So anybody who was surprised that the Federal Reserve Board (A.K.A. The Fed) decided to raise its benchmark short-term interest rate last week probably wasn’t paying attention.  The U.S. economy is humming along, the stock market is booming and the unemployment rate has fallen faster than anybody expected.  The incoming administration has promised lower taxes and a stimulative $550 billion infrastructure …

Read More

Copyright 2014 FiGuide.com   About Us   Contact Us   Our Advisors       Login