Who Can You Trust With Your Money?
Recently my wife and I went to pay a visit to our Financial Planner. We scheduled the meeting to in order to get a detailed picture of our financial situation. We went into the meeting with our financial records and excitement. After he asked a number of questions about our assests, our professions, salaries, plans, etc. he found that we could combine our debts into a nice Mortage Equity Loan. Then he crunched the numbers and spun off some facts and figures.
Reasons For Financial Problems
Most of us know when we hit a financial disaster, usually we can even trace the beginning of the process that led to the financial failure, but the problem seems to be the fact that some people keep repeating the mistakes, or adapting new problematic methods of trying and solving problems.
The wise financial planner would first consider his own strong and weak points before making financial decisions and would draw conclusions for the experiences he had in the past, the few points that ultimately lead to financial disasters that I will discuss here are very basic and natural, yet many people do not practice the least amount of caution when making plans.
Can You Trust Your Financial Advisor?
You?ve done your homework and you shopped around, you even asked your brother in law, your neighbor and your boss who helps them with their financial planning but your still not sure. How do you know you can really trust your advisor? After all your families? financial future is riding on it!
Personal Money Management Style Can Make Or Break Your Marriage
Personal money management is an issue that will affect your life positively or negatively… for the rest of your life. Your style of personal money management predicates where you end up in the financial pecking order of life. Do you want to be at the bottom, or the top? Develop a system that works for you early in life and reap the benefit forever.
Do you feel like you have an impossible financial dream? Money is such an emotional issue it becomes the breaking point for many a marriage. If you don’t have anything else to fight about, you can always fight about money. How will you reach your financial goals? Personal money management styles are a good thing to discuss before the marriage.
Is It Too Late To Plan For Retirement? No Way But An Annual Credit Report Is Essential
An annual credit report is a necessity. Institutions reporting, that show up on your annual credit report, make an effort to provide accurate information, however, inevitably mistakes happen. Either a mistake is made based on your repayment or even more difficult to track down and correct, is information erroneously added to your credit report that belongs to someone else.
Ask for an annual credit report and check it against who you know your lenders are. Check any comments that have been noted about your repayment and call the reporting lender immediately, if you see any discrepancy. If there is a charge or comment that you do not recognize, call the credit agency and ask for the contact information of the lender so you can track it down.
Financial House Cleaning
Summer is right around the corner and most of us have our to-do- lists figured out, mentally, if not written down yet. Bible camp for the kids, plant a large garden, and a trip to the lake. What about financial housekeeping, shouldn’t that be on your list too?
Early summer is a great time to take a financial breather. The holidays are a long way off, the taxes have just been paid and we’re spending time eating in the backyard instead of dining out.
Treat Yourself To A $1000 Shopping Spree!
You?re in the mall with your husband or friend and are each given $1,000 to spend. The only restriction? it must be gone within one hour. You can do whatever you like with it!! Ready ? set ? spend!!!
If this sounds like something you?d love to do, then do it!! All you need is a note-paper and pen to record the details of the items you intend to purchase on your shopping spree. What?!? You don?t actually spend the money for this to be a terrific experience. It works best if it?s not pre-planned, so one day when you find yourself at the mall try it!! If you are going with your husband, you can decide to shop together with $2,000, or independently ? it?s your choice. The treat is in the process.
Retirement Plans For Solo Entrepreneurs
Saving for retirement is even more important for solo-entrepreneurs because you don?t have a company sponsored pension plan or matching 401K contributions to rely on. There are many retirement plans available to self employed individuals and small businesses. Which one is right for you?
Here is just a sample of the retirement plans available to solo-preneurs and small businesses:
Financial Planner: Essential Funds
Setting goals for retirement initializes the need for financial planning for most adults. However, retirement is not the only reason you need to set aside funds for the future. Throughout life, there are necessary reasons to have funds set back and waiting, as well as investments that continually grow in value.
A few of these reasons for needing money set back early in your life might include:
?Your own education.
?Purchase of your first home.
?Travel experience.
?Relocation for first job.
?Career definement (often required prior to starting an actual career).
?Marriage
What Is Financial Planning
What is financial planning, and why it is crucial for you.
Even if you do not think you are a financial planner, you better start thinking like one fast. In the United States, there is an approximate of 5.6 million people who are either self-made millionaires or financially independent. And what is so hard to believe about that statistic, you ask? This is because that is only about 5% of the American population.