ComputerHunter.org |
|
|
|||
|
 |
Do You Need A Financial Planner?
No matter how much money you make, it pays to keep on top of money coming in and going out. Even if you do a good job of that, there are important times in your life when talking with a professional adviser makes sense. Almost every major life event - finding or losing a job, getting married or divorced, having a baby, buying a home -- is likely to have a major impact on your finances. A new job may mean you are making more money -- no problem there as long as you know the best way to invest it. Getting married may mean you have a second income to count on, but now you have someone counting on yours as well. Buying a house means you have to come up with a hefty sum of cash for a down payment, get used to monthly mortgage payments and meet the expense of house repairs. Let's look at what happens if a baby comes into your financial picture. First, medical bills need to be paid, so having good medical insurance is important. Few insurance plans cover everything, so you'll need to have a cash reserve to cover deductibles and extras, not to mention the furniture, clothing and sundries you'll need when the newborn comes home. With a new addition to the family, you'll want to make sure that the entire family (baby, too) is protected if something should happened to you -- that means reviewing life and disability insurance to be sure it's adequate for your new responsibilities. There's the future to start thinking about, too. Will your child go to college? If so, the College Board estimates that secondary education costs are rising 7% to 8% annually, a rate much higher than the rate of inflation. To afford the average $7,000 total costs for a state university, you need to start saving $195 a month. Wait until your child is 7 years old and the monthly amount jumps to $240! So, it's smart to put away a little sum each month. What can you do to accommodate new strains on your paycheck? How can you meet all of your new responsibilities? With an important financial goal (such as educating a child) you'll want to work with a generalist -- a financial planner. A lot of professionals specialize in areas such as taxes or stocks, but a financial planner helps you understand the "big picture." A qualified financial planner can help you sort through your current financial situation, help you set short- and long-term goals and objectives, then present a "blueprint" designed to show you how you can meet your goals while staying within your means. There's nothing more certain than change. And just as you learn to adapt to the changes life throws your way, you can count on things changing with your finances as well. About The Author Trevor J. Wisniewski, MS Bachelors Degree in Finance, Masters Degree in International Security Markets, Investments and Banking. Teach adult enrichment education for local community. Teach seminars for doctors, business owners and individuals. Clientele is Doctors, professionals, businesses and business owners.
Google News - Top Stories
|
|
|
|
RELATED ARTICLES
Four Key Components To Building A Trading System Need some insight on what you should really be striving for when you're building a mechanical trading system? When it comes down to it, there are really only a few criteria that are used in judging the merits of a trading system. The most obvious one is profitability - does the system work? But really, there's more to it than just that. The number of wins versus the number of losses is important too, but there's a lot of latitude there if the profitability is high. The size of the average win versus the size of the average loss tends to be held as important, and it is. However, that criteria is correlated to the number of wins and losses, so again, there's a lot of leeway there. The one thing that is too often overlooked is the consistency of a system. The fancier term for this is 'drawdown', but it's just a matter of consistency.....you'll see why below. Each of these four components is examined below, and then some of the common mistakes made when folks start building trading systems are discussed. Eight Questions to Ask Your Financial Advisor You may like your financial advisor, but is he really looking out for you? All advisors are not created equal, and you have a right to know what makes them different! You also have a right to ask yours if he compares! The Biggest Oil Opportunity in the World ? And How You Can Profit From It Where is the second biggest deposit of oil reserves in the world? Options Made Easy and Investor Education - Simple Enough for a 10 yr Old Kid How many of you out there think that the market is performing well? Creating a Financial Future - Putting Your Plan Into Action Part 1 This column has previously discussed "picturing the future that we desire", and outlining a plan to achieve it. We mentioned that the plan must include goal-setting, measurement, and implementation. That implementation is this column's focus. The Power of Small Numbers: Trading Success is Based on Consistency, Not Home Runs Online trading is so seductive - just sit, click, and rake in the profits! But as anyone who has ever seriously attempted online trading will probably tell you, it's just not as easy as it sounds. In a Time of Need As I take my leisurely walk with my dog through the older section of the local cemetery, I pause to read the details on the barely legible, weathered headstones. I am fascinated with the dates, for I know each stone has a story to tell, a history of its own time and place, but only enough space for identity. Proceeding up the rolling asphalt pathway, I am led into the new section of the cemetery. It becomes crystal clear as I compare the cemetery's old sections with the new, Americans are living longer. Buying Florida Investment Properties and Where Its Hot Relaxing in Style: Florida Investment Properties Penny Stock Investing The Nature of Penny Stocks Better Investing Made Easy If there were one piece of advice that an investor could ask for, the question would probably be something like "What do I need to do to invest better?" Better investing choices are sought by investors every day. Some find them and succeed, others do not. The difference clearly lies in better investing, so investors are on the right track. They are, however, asking the wrong questions. The Three Legged Stool My paternal grandparents were born near Lake Como, Italy. My grandfather learned how to farm, and he did just that until he died chopping wood at age 88. As a boy, I would walk into the barn where I watched him milking cows. Never got the hang of it, but I liked hearing the ping of fresh milk in the galvanized bucket. In order to get where he needed to reach, Popper would sit on a three legged stool. That wooden stool causes me to think of three investment legs for every household or business endeavor. As you know, lots of things come in sequence or synergy of three, even sneezes. Investing Psychology Today Requires All Traders to Awaken Their Speculator Minds Stock trading strategies are as rampant today, as they were during the Great Bull Market. Yet, can you truly master the stock market like so many investing books propose? The High Price of Oil In less than four years, the price of oil has risen about 300%, or over $50 a barrel. The Light Crude Continuous Contract (of oil futures) hit an all-time high at $67.80 a barrel Friday, and closed the week at $67.40 a barrel. Persistently high oil prices will eventually slow economic growth, which in turn will cause oil prices to fall, ceritus paribus. How To Start Investing For Financial Independence, Part 1 Today, I am going to start a multi-part series about how to go from being a beginning investor to being "financially independent" in a steady and predictable way. At our website, we get tons of e-mails about how do I start, how do I start with little $'s, etc., etc., etc. If you are asking this question, congratulations because you are ahead of most. All of us have been there at some point. Should You Put Your Annuity in an IRA? Let me start by answering that question...if an annuity fits your investment objectives than there is no reason that an annuity should not go in your IRA. Okay all you smarty pants out there who keep arguing that it is tax deferred and it does not belong in your IRA...SO WHAT??? The fact that it is tax deferred is only one reason why people buy annuities. An Investment Real Estate Strategy Unknown To Most Is A Negative Amortization Loan If you want to make the most of your personal or investment real estate, you should consider a negative amortization loan. Mortgage amortization is basically mortgage balance reduction. Consequently, when a mortgage has negative amortization, the loan balance not only is not reduced, it actually grows. So, why should you consider this? Simple. It is a great way to invest money from real estate someplace else. Credit Scores = ROI Profits for Real Estate Investors Strong credit saves real estate investors money on mortgage finance costs. A good credit score, along with the other credit and mortgage qualifications, means that investors can pay lower fees for financing, such as points and interest charges. Also, good credit scores help you avoid garbage fees associated with nonprime loans. It?s Never too Early to Start Investing! Remember the old saying, "never too late to start"? Well, try this on for size: when it comes to investing, it's never too early to start. Time really is of the essence here. Those of us who find ourselves between the ages of twenty and forty should make investing for retirement a key priority on our list of things to do. What Age Should I Start Saving For Retirement? Ask this question to 100 people and you will receive 100 very different answers. The fact of the matter is there is no right age to start. But don't fret (did I just say fret?) knowledge is power! The Difference Between Investing and Trading Investing and Trading are not the same thing. The returns you seek, the length of time it takes to achieve those returns, the amount of risk one is prepared to take, and the commitment one can make to monitor the investments dictate the strategy of whether to invest or trade.
|
|
|
|
|
