Financial Planning
April 1st 2011 19:08
There comes a time when we must financially plan for our future. The earlier we start, the more we can save. In the 90s, I put money away religiously in a mutual fund. When 9/11 came, I bailed to save my losses. I never went back.
Until now!
I have set a goal to retire in 5 years. The only way to do that in all honesty is to invest in the Stock Market, again. I am thus doing my homework, so I won't leap into an unknown loss. Sure, everything is a gamble, but doing research can make the losses minimum and the rewards plenty.
Sometimes you do need to find and talk to a financial consultant or planner about your finances and goals. I would choose the ones that require a fee instead of those who get paid by commission. True the fee advisors would get a high compensation($200 an hour), but they won't steer you to an investment that the commission advisor represents.
Stocks, bonds, munis, ETFs, mutual funds, annuities, etc., the list goes on and can be overwhelming to those of us who are intimidated by them. But with some understanding, you can master them and win.
When it comes to stocks you have to research the company and it's uniqueness. What product or service does it provide? You also might look for connections such as big companies investing in smaller ones.
With bonds it is best to buy the ones that will mature in 3-5 years.
ETFs, or Exchange Traded Funds, are a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. Considered a good choice, they do come with some fine print, such as if a future commodity goes higher than predicted you can be taxed.
In mutual funds it is always a good choice to look for how long the manager has managed it. The longer the better!
I'm just skimming the surface, because far more research needs to be done on any investment.
Today I'm going to give you a site that will plan your retirement in a no-holds barred fashion. You give it your info and it comes up with the plan. Unfortunately it only saves your data for 24 hours. The ESPlanner is an indispensable tool for financial planning.
Until now!
I have set a goal to retire in 5 years. The only way to do that in all honesty is to invest in the Stock Market, again. I am thus doing my homework, so I won't leap into an unknown loss. Sure, everything is a gamble, but doing research can make the losses minimum and the rewards plenty.
Sometimes you do need to find and talk to a financial consultant or planner about your finances and goals. I would choose the ones that require a fee instead of those who get paid by commission. True the fee advisors would get a high compensation($200 an hour), but they won't steer you to an investment that the commission advisor represents.
Stocks, bonds, munis, ETFs, mutual funds, annuities, etc., the list goes on and can be overwhelming to those of us who are intimidated by them. But with some understanding, you can master them and win.
When it comes to stocks you have to research the company and it's uniqueness. What product or service does it provide? You also might look for connections such as big companies investing in smaller ones.
With bonds it is best to buy the ones that will mature in 3-5 years.
ETFs, or Exchange Traded Funds, are a security that tracks an index, a commodity or a basket of assets like an index fund, but trades like a stock on an exchange. Considered a good choice, they do come with some fine print, such as if a future commodity goes higher than predicted you can be taxed.
In mutual funds it is always a good choice to look for how long the manager has managed it. The longer the better!
I'm just skimming the surface, because far more research needs to be done on any investment.
Today I'm going to give you a site that will plan your retirement in a no-holds barred fashion. You give it your info and it comes up with the plan. Unfortunately it only saves your data for 24 hours. The ESPlanner is an indispensable tool for financial planning.
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