Savers Die Broke Putting your money in a bank savings account or a sock under your bed is virtually the same thing. The amount of interest you will make from a bank account will be small and many times not even sufficient to cover the costs of inflation, meaning you’ll be losing buyin
Step one is to consolidate all your assets and liabilities with one institution for one statement every month. If you have multiple brokerage accounts and bank accounts and IRAs, get everything into one place, one institution that will allow you to see at a glance your financial plan.
Last column, we talk about mum’s cookie jar and the importance of setting side an amount of money to fall back on in case you need it. This column, we discuss three other important factors to consider when setting your priorities for living secure. Pay Yourself First This is a tough o
By now, you have created a plan for yourself. As our Live Secure approach demonstrates, the trick to planning is to make your plan simple enough so that you can keep track of it and update it easily. It is critical to monitor your plan. Life events have a way of happening to us when w
As I explained in my last column, estate planning begins and ends with competent professional attorneys versed in estate planning basics. Choosing such an attorney is not easy. The best advice I can give: word of mouth referral is an excellent route to choosing the right lawyer for yo
Estate planning begins and ends with competent professional attorneys versed in estate planning basics. Choosing such an attorney is not easy. Most attorneys in small firms will advertise their ability to do wills—wills present basic business opportunities for the attorney. And, the c
We’ve helped you understand more about investments and the lingo you need to know in the last few columns. Now, let’s look at Managed Accounts, Hedge Funds, and Options and Futures. The Managed Account Managed accounts (sometimes called “separate accounts”) are simply portfolios
Because of the tax problems inherent in mutual fund investments and out of demand for mutual funds with daily trading capability, a new type of fund has been created called an “exchange-traded fund.”
Mutual funds price all of the securities within a mutual fund portfolio at 4:00 p.
Last issue, we told you about annuities, dollar cost averaging, capital gains, investment returns, and cash and cash equivalent investments. If you missed it, look for the article online on this site along with others in our Live Secure series.
Now that you have the basics, let’s p
Last time, we told you about debt securities, specifically bonds. If you missed it, look for the article online at www.ChesapeakeCurrent.com along with others in our Live Secure series. This issue, let’s go over some other types of investments and additional important need-to-know lin