If you are unsure about how to invest your money and hear what sounds like good investing advice, how do you know whether or not to follow it?
In “Investing rules of thumb: Why they don’t always work,” Walter Updegrave discusses why sometimes what is considered commonly held wisdom needs to be, as they say, taken with a grain of salt. [continue…]
According to Philip Orbanes, Monopoly championship judge and author of Monopoly, Money and You: How to Profit from the Game’s Secret of Success, the game of Monopoly is more than mere child’s play. If you play the game to win and to learn you can gain knowledge about investing and financial planning. U.S. News and World Report published an interview with Orbanes and observed that besides keeping you entertained, the game “may also have taught you valuable lessons on risk assessment, timing and diversification—all useful tools for investing in the real world.” [continue…]
“Girls Just Wanna Have Funds,” a Wall Street Journal article, discusses how women have made strides in many areas of society but remain hesitant about investing. However, the article points out ways women can use their weaknesses and strengths to their advantage when it comes to financial planning and investing.
Lower confidence: What some women lack in confidence, they make up for in caution: “When they do invest, their humility and caution make them far less likely than men to trade excessively or to take outsize risks, which can benefit them in the long run. [continue…]
While financial planning and managing a household budget may come naturally, many women hesitate to get into investing. This is a shame because women might have fewer worries about their budgets if they were doing something to grow their money.
One reason many women don’t consider investing is a lack of female financial role models and since March is Women’s History Month, we’d like to highlight one financial role model. Once known as both the “Queen of Wall Street” and the “Witch of Wall Street,” Hetty Green is known but nowhere near as famous as her male contemporaries, although her savvy investments earned her millions. Last year, The Washington Post published an article about The Richest Woman in America by Janet Wallach, a book about this very rich and eccentric woman. [continue…]
While you can get financial planning advice from friends or keep up with the latest investment news, you still have figure out how to apply what you have learned. In the New York Times, financial planner and author Carl Richards writes, “Most of what we hear about investing isn’t right or wrong. It’s a matter of applying what we hear to our own situation.” He encourages readers to not mistake investing folklore for personalized advice but to filter investment advice through the prism of personal goals.
But what exactly is investing folklore? Financial folklore is stock tips and other investment practices that have worked well for someone else. [continue…]
A Fee-Only financial planner can help you with investments but first you have to make an investment in yourself and your future. Before you delve into stocks and dividends and learn the language of financial markets, you may need to unlearn some of your negative beliefs about money.
Financial planning is more than money and numbers; it is about gaining perspective and understanding that it is necessary to commit time and energy to grow your money. [continue…]
At the start of a new year, it is typical to reflect on the past year and to make plans for the twelve months to come. This is a suitable approach for work projects or your social calendar, but it may not be the way to approach financial investments and retirement planning. Rather than trying to plan out your investments for the year, seek the counsel of a fee-only financial planner who has the expertise to help you achieve your financial goals over time.
While there is nothing wrong with having financial goals for each year, you may also want to get help with long-range planning. Clarity Financial Planning Services is an advocate for your financial future and takes a holistic approach to your needs and goals. [continue…]
A Fee-Only financial planner can help you develop an investment strategy to secure your financial future. Still, as an informed consumer, you are likely watching the news and paying attention to what is going on in the world. You want to partner with your financial planner in choosing investments, rather than just leave these decisions completely in the hands of another person. If this describes you, here are a few things to keep in mind-
The best investments are stable and offer growth over time: [continue…]