Archive - 2017

1
Financial Planning Lessons from the Founding Fathers
2
Morgan Stanley Is A Terrible Choice
3
IRA or 529?
4
Frugality Versus Frugal Spending
5
Don’t Strike Out When Planning Your Future

Financial Planning Lessons from the Founding Fathers

Money Lessons of America’s Founding Fathers offers the kind of financial information about our country’s early leaders that may have been missing from your history textbook. Whether you can relate to the Founding Fathers or not, you can learn from their financial planning practices (or lack thereof).

Alexander Hamilton is all the rage these days because of the hit musical about his life. It is true that he may not have been given the credit he deserved for the creativity he showed in building our nation’s financial structure but it is also true that he did better for the country …

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Morgan Stanley Is A Terrible Choice

Recently Mason Braswell wrote an article entitled “Morgan Stanley Purges Vanguard Mutual Funds” which opens,

Morgan Stanley is slamming the door on selling Vanguard Group mutual funds, the latest attempt by a big brokerage firm to retaliate against the low-cost fund giant for refusing to pay for access to its salesforce.

The article goes on to say that Morgan Stanley requires other mutual fund companies to pay $250,000 to $850,000 annually for “shelf space.” This pay-to-play model of selecting a customer’s mutual fund options is so obviously not in the client’s best interest as to make it remarkable …

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IRA or 529?

After my post last week (Higher Education Expenses Paid From an IRA) I received a question from a reader: “If it’s possible to pay QHEE from an IRA then why would it be beneficial to contribute to a 529 specifically?” In today’s post I’ll cover the reasons you might choose an IRA or 529 plan. These two types of account will help you prepare for the twin future requirements of retirement and college expenses.

As covered in the prior post, an IRA plan can be used in part to pay for college expenses. This is allowed in the …

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Frugality Versus Frugal Spending

I wanted to write a brief note on the difference between being frugal and frugal spending. I think it really boils down to the mindset of the individual. Frugality, in my opinion, is making smart purchases when necessary, and forgoing purchasing altogether if not. I also believe that frugality is making purchases that reduce the need to spend more in the future (i.e. buying a quality product for more money in order to reduce or eliminate repair expenses in the future).

Frugal spending, on the other hand, is buying something simply because it’s on sale or cheap – regardless of …

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Don’t Strike Out When Planning Your Future

Baseball is in “full swing” this time of year in my family’s household.  I enjoy watching my son express his love for the game (albeit a “love” far secondary to more important things in life).  One of his recent games reminded me how quickly – and inevitably – our best plans change due to forces outside our control.  Our reactions (or lack thereof) to unplanned events ultimately determine our success and this can be true with financial planning.

With the opposing team batting in the bottom of the first inning, the second batter singled after the lead off hitter was …

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