Archive - July 13, 2009

1
How Much Disabilitiy Insurance Should You Get?
2
How To Lower Your Credit Card Bill
3
3 Big Mistakes Most Investors Make and How to Avoid Them
4
Supercharge Your 401k
5
How Can I Take Advantage Of My Employment Benefits?

How Much Disabilitiy Insurance Should You Get?

Major Items That Affect Disability Insurance Premiums
If you buy your own policy, either as an individual or through a professional society group policy, your premiums will be reflect your occupation, age, sex, and the amount of income you wish to protect with insurance.  People in risky occupations will have higher premiums than those doing office work.

The length of the waiting period will also affect premium costs: selecting a longer waiting period reduces the cost.  If you have resources that you can tap in the early weeks of a disability, using a longer waiting period is a good way …

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How To Lower Your Credit Card Bill

013 - Credit CardsAccording to a poll from the Associated Press, credit card bills can cause a tremendous amount of stress. But more importantly, that stress can lead to serious physical health problems. Not surprisingly, those polled with high debt related stress had heart attack rates twice as high as those with low debt related stress. If you’re carrying a credit card balance it doesn’t take a poll to know how stressful credit cards can be–all you need to do is to open your bill and see how expensive the interest charge was.

Part of the frustration with credit card debt is the …

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3 Big Mistakes Most Investors Make and How to Avoid Them

1. Procrastination

There are many variables in investing, unfortunately time is not one of them. Yes, you can extend when you are planning on retiring, or fulfilling a goal, but you cannot go back to when you should have started saving. We’ve all heard the saying “the best time to invest is 30 years ago, the next best time is now.” The truth in that saying is due to one principle: the power of compound interest. Compound interest is simply when your gains start earning gains. At that point your original investment isn’t the only money working for you. There …

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Supercharge Your 401k

New research shows 401k plan participants would be well-served to receive the services of a fee-only independent financial advisor. A Charles Schwab study revealed that 401k participants who sought professional assistance in allocating their assets earned a significantly greater rate of return than those who did not. The data examines 2006 returns and is broken down by age group.

The study reveals the significant value-added benefits 401k plan participants receive when they are educated regarding the impact of risk, return, time and diversification. Additional value was found to be added by advisors who persistently rebalanced a globally diversified portfolio.
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How Can I Take Advantage Of My Employment Benefits?

If you’re among the many Americans who remain “employed but worried,” there’s no time like the present to make sure you squeeze every last drop out of your employee benefits before news of a pink slip puts them out of reach.  For starters, take a look at:

  • Flex Spending Accounts – Get familiar with your plan’s details and deadlines. If necessary, move up eligible expenses to ensure you spend your share before you lose the chance.
  • Group Health Insurance – Schedule known needed treatment ASAP, before you get laid off.  For example, if you’ve been putting off making that allergy,
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