Typical Family Budget Percentages
When creating a budget, it is helpful to assign percentages to major categories. This article lists typical family budget percentages.
Investment Strategy for a Child’s IRA
If you have decided to establish an IRA for your child, there are several decisions you must make, including which type of IRA to use and what investments to choose. For more information on how we apply our Ten Year Rule investment philosophy to a child’s IRA, read this Financial Strategy.
Dividend Reinvestment Plans (DRIPs)
Many new investors look for a way to invest a small amount of cash into the stock market without paying huge commissions. To meet this increasing demand, more companies are offering dividend reinvestment plans, also known as DRIPs. DRIPs are offered by a corporation and allow investors to reinvest their cash dividends by purchasing additional shares or fractional shares of some of the most well known publicly-traded companies for as little as $10 at a time. As a result, DRIPs have become heavily promoted as viable solutions to new investors entering the stock market
Seeking Unbiased Advice from Your Financial Planner
If you are seeking to develop a long-term relationship with a financial adviser, we suggest you understand the motivation behind the advice you are given.
Do-It-Yourself Financial Planning
If you intend to create your own financial plan, we suggest consulting an insurance agent, a tax adviser and an estate planning attorney in addition to establishing your savings plan.
Shopping for a Mortgage
When shopping for a mortgage, it is best to request a Good Faith Estimate with the lender’s best interest rate with zero points from several lenders. This way you can compare the interest rates and closing costs.
Mutual Funds—Different Types
Mutual funds can be classified into several sub-groups: types of funds, open-end vs. closed-end and share classes. An investor who chooses to invest in mutual funds should understand the various differences between funds to ensure that their goals and objectives are inline with those of the fund.
Making Budgets Work
Missing your target on your budget does not mean your budget won’t work. You just need to set more realistic targets.
Preparation Tips for a Budget
We offer six easy tips for creating your own budget.
Mutual Fund Basics
Investing in individual common stocks can be an expensive endeavor. Commissions to the broker on every buy and sell can add up over time. Many investors instead choose to invest in mutual funds based on the misconception that mutual funds do not charge commissions. In reality, mutual funds, even funds that are no-load funds, can be costly to buy, sell or simply hold.