The wild swings in the financial markets are enough to scare any investor. With huge drops followed by big gains and then further drops… what is an investor to do?First let’s review what’s happening. It is NOT individual investors making buy/sell decisions that drive financial markets. It’s the computerized models of the major investment houses…
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Want to develop some good habits? Break bad habits?
“Welcome to My Habit Lab. Designed by scientists at the University of Southern California. We draw on the latest psychological research to help you break bad habits and start good ones.” Psychologist Wendy Wood, Ph.D. wrote the book: Good habits, bad habits: the science of making positive changes that stick Check out this website: http://goodhabitsbadhabits.org/…
How does your financial adviser get paid? And why does it matter?
“With markets in turmoil, investors need financial advice more than ever. Unfortunately, figuring out where to get it and how to pay for it just got a little harder” according to Jason Zweig writing for The Wall Street Journal. Until recently you could find this information about Certified Financial Planners from Letsmakeaplan.org. But the CFP…
Planning to refinance your mortgage?
A rush to refinance mortgages in light of the super low mortgage rates is facing a logjam of applications. According to Katy Mclaughlin writing for The Wall Street Journal, you need to take these steps: 1. Unfreeze your credit. Many people froze their credit to protect against fraud. Now is the time to thaw your…
Lost income due to Coronavirus shut down?
If your income has fallen or been cut off completely, we’re here to help. This guide will connect you to the basic information you’ll need to get through this, including on government benefits, free services and financial strategies. https://www.nytimes.com/article/coronavirus-money-unemployment.html Your Money: A Hub for Help During the Coronavirus Crisis By Ron Lieber and Tara Siegel…
Don’t touch that investment portfolio!
Investment expert tells savers not to look at portfolio Investment strategist Joachim Klement is advising retirement savers not to check their 401(k) balances to help prevent them from making poor decisions based on short-term market moves. “Nothing that happens today, tomorrow or over the rest of this year will matter 10 years from now,” he…
Stock market perspective
IS THE STOCK MARKET swoon messing with your head? You don’t want to make this market decline any worse than it has to be. To that end, here are 10 steps that’ll help preserve your sanity and your portfolio:(Quoted directly from Jonathan Clements. Follow Jonathan on Twitter @ClementsMoney and on Facebook. His most recent articles include…
Easy way to build an emergency fund
According to the IRS, around 72% of Americans received a refund on their taxes in 2019. This extra cash may be the largest check some people receive all year and can be a perfect opportunity to start—or grow—your emergency savings funds.Learn how your tax return can kickstart your savings. The Consumer Financial Protection Bureau’s guide…
Behind on Federal Student-Loan Payments?
Lots of options exist, including suspending payments, but some will increase what you owe Cheryl Winokur MunkThe Wall Street Journal, 3/9/20. “Getting behind on student loan payments—or worse, defaulting—can lead to serious financial consequences.” Call your loan servicer to learn options to lower or suspend payments. (call the Federal Student Aid Information Center at 800-433-3243…
To ease stock-turmoil jitters, try these strategies
Writing for The Wall Street Journal (3/9/20), Anne Tergesen interviewed Dr. Wade Pfau, a leading investing researcher and professor at the American College of Financial Services. For investors far from retirement, there is no need to panic but now is a good time to review your asset allocation. But for those nearing or in retirement,…