Speaking from experience, the relationship between a financial advisor and his or her clients is incredibly important. Whether you rely on your advisor to help with retirement planning, saving for college, or meeting other goals, this individual will help determine how you approach some of life’s biggest financial decisions. That’s why it’s critical to ensure you’re working with the right person. Here are a few tips to keep in mind when choosing an advisor. Continue reading How to Select Your Financial Advisor
What makes a couple successful in their financial relationship? Ameriprise Financial surveyed over 1,500 couples (those married or living together for at least six months) to learn about their money conversations and how they make decisions. The results revealed eight ways you can improve the financial health of your relationship:
- Understand your partner’s money mindset. It’s normal to have differing views and habits about money, but that doesn’t mean you can’t agree on your financial goals. Couples who report being on the same page financially work to understand their partner’s approach to money and keep the lines of communication open.
Many people who carry a home mortgage dream of the day when they will no longer face the burden of a monthly house bill. They want the financial freedom – and the satisfaction – of owning their home outright. Does that mean you should make paying off your mortgage early a priority? The answer depends on your circumstances and goals. One question you should ask yourself is, “Would the money you spend on your home loan be better spent on or invested in another financial opportunity?” Continue reading Should You Pay Off Your Home Mortgage Early?
What drives the stock market? Quite often, it is fundamental factors such as the strength of the economy and its impact on corporate profits. At other times it is affected, at least in the short term, by external factors that can upend investor expectations and drive markets in a positive or negative direction. Continue reading Will the Election Impact Markets and Investments?
There’s no denying that the cost of childhood athletics is expensive. And while you may not be raising an Olympic-caliber athlete, if your child is one of the 35 million kids between ages 5 and 18 who play an organized sport in the U.S.1, you know about the financial commitment all too well. Expenses add up quickly, and it can be easy to lose track of the cost for your child to be on the team. Continue reading Are You Financially Prepared to Raise an Athlete?
The Federal Reserve (the Fed) has been highly prominent in the news media over the last few months as they debate when to begin raising interest rates. Federal Reserve decisions can have a significant impact on the economy, but the impact on individuals is not always as clear.
By law, the Fed has two primary objectives: To maximize employment and keep inflation under control. Of course, the Fed does not have a magic wand to control economic activity, but it seeks to influence economic trends through what is called monetary policy, or the ability to push interest rates higher or lower. Continue reading Why the Federal Reserve Matters to you
The United Kingdom’s decision to leave the European Union (EU) following a referendum known as “Brexit,” was the latest test for investment markets worldwide. The immediate market reaction was decidedly negative, but soon after markets started to rebound, more so in the U.S. than overseas. Investors should be prepared for continued uncertainty related to the Brexit vote, which could contribute to volatility in the days, weeks and even months to come. Continue reading What Does Brexit Mean For Your Investment Strategy?
As the weather heats up, so does the planning for vacations, graduations, weddings and family reunions. Your packed event schedule could impact your financial health, so it’s important to set expectations with your family and friends early in the planning process. Talking about money with family members and friends can feel awkward, but in some instances, not talking about financial expectations upfront can create stress and tension down the road. It could also leave you with a larger dent in your pocketbook than you expected. Continue reading Setting Financial Expectations with Family and Friends
Every day we hear numbers that evaluate the stock market’s performance, such as the Dow Jones Industrial Average or the NASDAQ Composite Index. There are a myriad of market indices, and it may seem like they are all measuring the same thing. However, each index evaluates the market in a different way. Continue reading Measuring the Stock Market