As a financial advisor, I’m often asked: “Are student loans a wise investment in my future…or a bad idea?” Let me offer some facts, an example, an update, and some advice. Some facts: What does all that borrowing cost? Current interest rates on federal loans range from 4.99%-7.54%. Private loan rates range from just under …
Student Loans: Smart Investment … or Big Mistake? Read More »
As a financial advisor, I hear these complaints all the time: All of these comments reflect a faulty mindset. They are looking at the “savings problem” from the wrong end of things. You see, it’s all but impossible to cut back when you see everything you buy as “essential.” You can waste a lot of …
Don’t Confuse Symbolism with Substance When Trying to Save Money Read More »
I get this sort of question often: “A friend introduced me to a very nice Christian man who is recommending I put my money into some kind of annuity or bonds or something like that. I’m not a stock market person. I don’t understand finances, but I really like this young man. He seems so …
This is for the person who feels financially “gloomy.” Keep reading only if: (a) you’re convinced the economy will be bad for a while; and (b) because of that belief, you’ve put a halt to investing and all other financial moves. I understand why you feel cautious. I get wanting to be safe and watch …
Should you be part of a large investment group and guarantee a large loan for a business deal? It depends on a number of factors: Remember, when farmer Brown comes into the barnyard with a hatchet in his hand, not all the chickens are at risk…just the fat ones. Consider the case of Mark Brunell. …
Remember Tee-ball? It was mostly about having fun. You could hit the ball three whole feet, run the wrong direction, and still get plenty of high fives—and a shiny trophy at the end of the season. Compare that to professional baseball. In the big leagues, nobody cares that your dad is one of the coaches, …
A man once said to me, “My friends are always talking about their financial plans, but the idea that I could create such a thing feels impossible. I’m terrible with money!” I told him, “I understand that feeling. But the truth is you could create a smart financial plan. It really is possible.” (That’s a …
A man confessed: “My business did really well last year. Unfortunately, my CPA just told me what I owe in taxes, and I’m in shock. I don’t have the money! I reinvested it in my business. If my wife finds out about this it will send her into a tailspin. Should I just handle it …
A subscriber wrote and asked: I’m retired and widowed. My two adult sons still depend on me to pay some of their bills—even though one of them has a job. (The other can’t seem to keep steady work.) I’m worried that when I’m gone, they are going to fight over my money, even though I …
I don’t have to remind you we just celebrated Thanksgiving. For many of us, the day was full of family, feasting, football and Friday…endless advertisements about Black Friday and the “don’t you dare miss this” sales that go with it. One of my family’s simple traditions is to go around the table during the Thanksgiving …
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