Research shows that among the things that keep people awake at night, retirement issues always rank near the top, including finances, health, and protecting the assets they would like to pass on to others. For many Americans, retirement confidence remains tenuous at best. 19% of American workers are “not at all confident” about retirement, or the finances that underpin it, such as having a nest egg large enough to last a lifetime. The good news is that the general public’s overall confidence about having enough money for a comfortable retirement has been increasing, after plummeting to record lows between 2009 and 2013. According to the 2016 Retirement Confidence Survey, 21% of … [Read more...]

Plan the perfect asset allocation recipe.soup relate portfolio For years, you have heard professionals talk about the importance of "asset allocation" in investment planning, but what does that mean and how does it truly relate to you and your money? Most Americans have made or helped make soup. It is a simple and straightforward process. Once you determine the type of soup you wish to make, you look up your recipe and begin to follow the instructions. You gather your ingredients, clean and cut them to size if necessary, measure each ingredient for the appropriate volume, and finally - add each ingredient to your cooking pot as indicated in your instructions.   By carefully … [Read more...]

Information of importance, recommended to interested readers by Mark La Spisa..   3 Money Lessons for Your Kids As They Go to College   You may not want to kiss your college student goodbye with a lecture on finances, but making poor money decisions can follow your child for years, so it's worth taking some time to go over potential consequences. If nothing else, here are three conversations you should have about finances early in their first semester:         1. Learn to Bargain Hunt... No matter the living conditions they're used to at home, teenagers need to get used to living like students. Even if parents help pay for college and any expenses they … [Read more...]

There is no magic formula when it comes to retirement savings goals Some believe that simply pulling a large number out of the air, such as “I need to save a $1 million nest egg in order to retire comfortably”, is all the retirement plan they need. Others believe that saving 75 – 80% of their current salary for retirement income is a good safe bet. But, the reality is that such broad generalizations may only apply to a certain demographic of the population, and they often miss the mark. Once you consider an individual’s personal income, expenses, lifestyle, family life expectancies, and other variables, the forecast changes considerably. Some rules of thumbs can do more harm than … [Read more...]

UPDATE: (6/28/16 3:00PM CST) The Markets Early Friday, Reuters reported on the immediate and potential repercussions of the decision: “Britain has voted to leave the European Union, forcing the resignation of Prime Minister David Cameron and dealing the biggest blow since World War II to the European project of forging greater unity. Global financial markets plunged on Friday... The British pound fell as much as 10 percent against the dollar to levels last seen in 1985… The euro slid 3 percent… World stocks saw more than $2 trillion wiped off their value, with indices across Europe heading for their sharpest one-day drops ever… The United Kingdom itself could now break apart, with … [Read more...]

Should you leave your kids an inheritance?   When children are young, parents need to safeguard them and ensure their well-being. But when they reach a certain age, do parents really still need to leave an inheritance for them rather than giving them the opportunity to be responsible on their own? Well-known “money minds” have been debating this issue for years. Do children expect to have an inheritance left for them? Are children being raised to feel entitled to what parents have worked so hard to amass? As a parent, would you feel that you have failed or disappointed your children if you were to leave them nothing? If you left no inheritance for your children, would that sit … [Read more...]

The indomitable American shopper used to power the world economy, and it was nice while it lasted One of the most telling signs of the new normal in the U.S. economy is Americans' attitudes toward saving money. Ten years ago, saving was like making your bed or changing the oil in your car on schedule: Nice to do but hardly essential.   In April 2006, 51% of Americans thought their financial situation was good or excellent, but by April 2010, the percentage had dropped to 41%. During roughly the same period, with unemployment reaching as high as 10% and wages stagnant, the appeal of saving over spending grew from 50% to 62%. During the brutal recession that began in 2007, … [Read more...]

For many, rising temperatures and an influx of new greenery are not only signs that spring is here, but that it's time to clean house. The wintry financial climate of the past year has probably seen quite a bit of grime build up on your finances as well, so, like your home, they could probably use a good scrubbing.   Here are some areas where a little time and effort can make it easier to keep up with your money, and quite possibly save you a little cash as well:   Review your spending plan... Take a look at your annual and monthly expenses and slash anything that's no longer serving you. Are you paying for more cable channels than you really need? Do you still have a … [Read more...]

Information of importance recommended by Mark La Spisa,Making a big purchase that you have saved up for can be really exciting. But, you need to be sure you don't rush things - make the smartest purchase possible. When you are looking to buy something big, you should start off by doing research and comparison shopping. One of the most overlooked steps is to ensure you are buying at the right time of year. Here’s a guide for your upcoming purchases to determine the best times to buy.   Homes… Buying a home is one of the biggest purchases most people will make in their lives. There is a lot of legwork that goes into it from researching neighborhoods to securing financing. When … [Read more...]