Archive - May 2016

1
6 Questions To Ask An Advisor
2
How to Pay Off Student Loans While Building Wealth
3
A Note for New Advisors
4
Ten Principles for Teaching Children about Money
5
What Is Settlement Date And Why Does It Matter?

6 Questions To Ask An Advisor

Did you know over 70% of people searching for a financial advisor have experienced some sort of life-changing event? Whether starting a new family, making a major career change, or reaching the critical point of retirement planning, “life in motion” has occurred.

There are sites such as www.napfa.org or www.feeonlynetwork.com that can be a great resource in your search; however, not all advisors are the same and it is extremely important to ask the right questions when interviewing possible candidates.

Once you have narrowed your choices to a select few, use this guide to help ensure you find the best …

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How to Pay Off Student Loans While Building Wealth

The average college student graduates with almost $35,000 in student loans. While this is a daunting sum, it is still possible to build wealth even while paying off student debt. But earning the degree and paying for the degree require two different kinds of smarts. In fact, some students may be better off not taking their parents’ advice on how to get out of debt. Unlike most types of debt, student loans are usually best when paid as slowly as possible.

Almost all debt is bad debt. But, there are two important exceptions to this rule: home mortgages and …

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A Note for New Advisors

Businessman juggling fruit

Businessman juggling fruit

This post is for an advisor just starting out in their career. Their work could range from working for a large broker-dealer, to a small financial planning firm with a few employees. The main point of this post is to give the advisor reading it some hope and inspiration. Having had experience working for both a large broker-dealer and a small firm (here at BFP) my hope is to give some advice thoughts as the advisor shapes their career.

  1. First, you are in one of the greatest positions in your career. You have the choice of determining
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Ten Principles for Teaching Children about Money

Here are ten principles for teaching children about money:

1. Talk about money.

When money is involved, you have a chance to teach your children the values and analysis behind your actions. Money should not be your only topic of discussion, but talking about it will communicate your wisdom and values to your children. Every purchase, investment, or donation can be a time to teach your children something about your values.

2. Talk openly.

Parents make a mistake when they keep information from their children. Children learn through experience. For example, the experience of what their family earns and what …

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What Is Settlement Date And Why Does It Matter?

Most investors think that whenever you buy or sell a security the money is immediately deducted or deposited into your account. This is not true.

Although the results of the trade may look as though they have taken place, the money is not actually due until the settlement date.

Mutual fund trades settle in one day and must be made before 4pm. The mutual fund companies then use the pricing of assets as of 4pm to set the share price for the assets they own and then determine how many shares each new investor is purchasing for the deposit they …

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