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August 26, 2009 19:05
Everyone should develop a wealth building plan. Unlike a financial plan, a wealth building plan focuses on effectively turning effort into wealth. Thus, it recognizes the fact that the right effort and skill can create wealth and seeks to effectively maintain and grow that wealth.
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August 22, 2009 14:07
We believe it is time to take a step back and examine your financial affairs to better understand where you are. It has been a volatile year, and you need to think about how you have fared, and where you should be headed.
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August 04, 2009 19:07
This site’s focus is to provide financial education for independent investors or those who want to be independent investors. We want to encourage you to learn to think for yourself and understand that being financially educated is your responsibility, as are the decisions you make about your finances. In today’s society our young people are not taught to be financially savvy, which leaves them especially vulnerable to the high pressure sales pitches from financial institutions. In fact, much of the “information” the average person is exposed to about the financial world is actually an elaborate sales pitch. Many otherwise educated, successful, intelligent people are naïve about the world of personal finance.
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July 28, 2009 21:11
Too many financial advisers, analysts, and individuals fall in love with one particular asset class and are always looking for it to shine above all others. If you are talking with someone who has a background heavy in fixed income they relate to everything else through bonds and often recommend a higher exposure to fixed income assets. You might also see someone with a tilt towards large cap growth or large cap value investing and they always feel that these assets will do better than other assets. It is rare to find an advisor that does not have some sort of bias.
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July 08, 2009 20:23
As we work and build wealth we seek ways to store that wealth. As recently as the early 1930's that wealth could have been stored safely in U.S. dollars, as the currency itself was insured. It was backed by gold and silver. However, over the course of the 20th century the dollar lost all of its ties to gold and silver. Now the U.S. dollar is backed only by the trust that people place in its value, it is yet another fiat currency. If you want to store wealth for the long term, you need to convert some of your accumulated dollars into real money, not just currency. Accordingly, it makes sense for everyone to own gold, not as an investment, but as insurance.
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May 01, 2009 08:06
Many people believe that inflation is headed our way soon. The question is how best to prepare for it. Inflation is a government-created problem that every government thinks it can control. However, it has meant the end for several governments world-wide over the past two centuries. As we try to build wealth for ourselves that we can rely on for our future benefit, we must keep in mind that saving up a slew of greenbacks may not work out as well over time as we may have planned if significant inflation were to occur in the near future.
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March 07, 2009 18:11
Your ability to lower the risk you are taking with your assets begins with diversification. The old adage about having your all eggs in one basket becomes even more true when it is your nest egg.
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March 07, 2009 17:55
Life insurance, strangely enough, is one of those topics that can lead to passionate disagreement (despite it's basic premise). There are many different theories on what type of life insurance people should choose and how much of it they should have. There is no right answer to these questions (as each person's situation and goals are different), but here is our take on the subject.
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March 02, 2009 18:35
Just as you should diversify the various asset classes that you hold, it is also a good idea to diversify how you invest in those asset classes. This is especially true with precious metals. There are many ways to invest in precious metals and many of them are good, but they are beneficial for different reasons.
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March 02, 2009 08:35
Recently many media outlets have focused on ponzi schemes poignantly highlighting the ease of taking money from investors and falsifying the returns. Bernard Madoff's admission that he was running what could amount to as a $50 billion ponzi scheme rocked not only his investors, but all investors. Ponzi schemes unfortunately happen frequently, however the sheer size of this most recent event is hard to fathom, especially considering the sophistication of those taken by Madoff’s scheme. Although the devastation was massive, it pales in comparison to the scheme our government has orchestrated.
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