The Pros and Cons of Living Stingy

Everyone has different ideas about how to spend money wisely. Some like to invest and save, while others have a habit of spending too much. 

"Living stingy" means something different to everyone. If you're already pretty frugal, living stingy could mean cutting back on some groceries, or attempting to cut back the electric bill. If you're used to living the life of luxury, living stingy could mean eliminating going out to dinner or buying a car with a lower monthly payment (or no payment). 

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Fundrise: An Interesting Way To Invest In Real Estate

Have you ever wanted to invest in real estate? Or, maybe you’ve already tried your hand at it once, and it didn’t exactly go the way you were expecting.

I’m not sure what the appeal is to investing in real estate – being a landlord is not for me – but I do get asked the question quite a bit.

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Acorns: A Cool App For Saving Money

Did you set a goal to try and save more money this year? If you’re like most people, this is a recurring goal that continues to rear its ugly head time and time again.

Let’s face it, saving money can be tough. Spending money is much easier and way more fun… hey, I’m a financial advisor, and I’m in total agreement. However, as much as we dread putting some money away for a rainy day – or for whatever reason, we need to do it. Some of us are good at, while others are not so good.

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The Worst Things About Working with a Financial Advisor

As much as I try and paint the picture of how awesome it is to work with a financial advisor, there are a few unpleasant things that come with the territory—I know, I know, hard to believe.

We definitely try to make the experience as pleasurable as possible, but sometimes it just isn’t always rainbows and unicorns. We can be a little annoying at times asking for all the information we need. Difficult discussions come with the territory, and critical decisions have to be made about one's financial life—and that means sacrifices might have to be made in order to achieve one's goals.

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My Worst Investment Ever

We’ve all made bad choices in life when it comes to money and even me, as a financial advisor, falls right into that category as well. Granted, I’ve learned a lot of what to do, but that still doesn’t mean I haven’t made my share of mistakes when it comes to investing.

Everyone has some kind of “worst investment ever” story and that goes for just about every other financial advisor too. Believe it or not, we tend to think we’re really smart and only pick winners when it comes to investments—but, bold brutal truth, we’re not. If your financial advisor is telling you differently, then I’d start looking for another one.

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5 Interesting Things I’ve Learned From Being a Financial Advisor

Crazy enough, but I’ve been a financial planner, financial advisor, wealth advisor (the list goes on and on) for 16 years now. I’ve seen a lot over that time frame, both good and bad.

Getting into this industry in 2001 when the tech bubble was beginning to burst was quite an interesting time. I didn’t think I would see anything like it again, but then came the housing bubble of 08-09. Yet, since that time we have seen quite the run-up and one that we’re still riding to this day.

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3 Questions YOU MUST ASK YOUR FINANCIAL ADVISOR

Being a financial advisor for the past 16 years, I know what lies behind the curtain in our industry. And, while things are slowly becoming more transparent, we still have a long way to go before reaching complete transparency.

As a consumer, though, you only know what you’re being told or at least how much you can find from doing your research on Google. The information is out there, but only so many people have the time to find out the right questions to ask.

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Why Do I Even Need a Financial Advisor?

Great news! You don’t! Much like everything today, you can definitely go the DIY route and figure it out yourself. However, it’s not quite as easy as watching a YouTube video to fix your car, but it can be done. What it takes, though, is that precious resource we only have so much of; time.

Some people enjoy managing their financial planning and investment management, but it’s much more of a hobby than a chore for them. They enjoy the research, planning and goal setting. Most importantly though, they have the time to commit to it.

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5 Money Moves the Wealthy Live By

Let’s face it, we all want to be wealthy or at least have what I like to call financial independence. However, only a small percentage of the population achieves this dream to where money isn’t something they worry about. They’ve taken the correct actions over several years, which has given them the freedom to do as they wish.

While being wealthy or having financial independence can mean many things to different people, it comes down to what it is you want your life to look like if money weren’t an issue. Today, we will look at the 5 most important money moves that will help you achieve this journey. None of these will happen overnight, but all can be easily accomplished.

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Should I Pay Down Debt or Invest?

The question of all questions in financial planning for individuals in their 20’s and 30’s. This is, by far, the #1 question I hear from those carrying credit card or student loan debt. It’s a great question and one that isn’t exactly black and white.

When the choice is paying down debt or investing, it comes down to a few different things. What is the interest rate on the debt? Would you be investing in a 401k that offers a match or somewhere else? What is your emotional attitude towards having debt? When does it make sense to invest over paying down debt, and is it the right emotional decision for you?

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How Much Life Insurance Do You Really Need?

At a certain point in your life you realize you might need life insurance, but how much is the right amount for you? Continuing on with our theme for Life Insurance Awareness Month, let’s take a look at this very common question you’ve probably asked yourself.

So, how much life insurance do I really need? Well, depending on who you ask will depend on your answer. You could call a life insurance agent, financial planner, wealth advisor, etc. and get a different answer from each of them. Are they all right or are they all wrong?

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The 5 Things You Should Do After Purchasing Life Insurance

1. Review Your Policy.

That’s right, I’m actually recommending you open up and look at that giant life insurance document you received. Please don’t just throw in a file for it to never be seen again.

I know it’s intimidating but do it. It won’t be that bad. I’m not asking you to study or memorize it, but rather peruse through it to make sure everything is correct.

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Why Shouldn't We Discuss Personal Finances with Friends?

You’re sitting at happy hour and then all of sudden that one friend brings up a conversation that has to do with money. All of a sudden you start fidgeting, sweating and feeling completely awkward. But why do so many people feel this way when it comes to discussing personal finances with friends?

We literally discuss every taboo subject in the world with our friends. Whether it’s someone going through a divorce, rumors of infidelity, your kids driving you crazy, how much you can’t stand your spouse, etc. We’re even more than happy to discuss other people’s finances.

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Low Mortgage Rates Still Add Up to a Lot of Money Over Time

Do you know how much interest you are paying over the life of your mortgage? I’m guessing you didn’t pay much attention to that after going through the giant stack of paperwork to secure the mortgage in the first place. For most of us, we simply grit our teeth and just start signing.

Well, somewhere in that stack of paperwork was your amortization schedule (fancy loan officer jargon). This is a form that shows all of your payments for the life of the loan and how much interest you would be paying over that time frame as well.

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The 3 Financially Savvy Things You Must Do After Getting a New Job

So you made it through all the interviews and landed a great job. Now it’s time for the rubber to meet the road. Getting a new gig is great, but for many of us, it is change and that can always lead to a lot of stress.

You now have a new commute, a new role, new colleagues and a completely new routine. Dealing with all of that is hard enough and certainly can add a little anxiety in your life. Take a deep breath and relax. You made it through the hard part.

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Why the Heck Don't You Use a Rewards Credit Card? 

I’m not sure if I have a problem, but I am always curious to see what type of credit card people use when checking out. I certainly see a wide variety, but inevitably I see a lot of non-rewards type credit cards and debit cards.

Now don’t get me wrong, I am sure I’ve misidentified plenty and also know there are debit cards that offer some sort of cashback. And I will admit, this definitely wasn’t any kind of a scientific experiment, but I feel like I’ve been doing this for quite a while (hopefully, this doesn’t put me in creepy status).

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Why New Year's Resolutions Suck

Every single year millions of people start the New Year with high hopes of finally achieving their resolutions. For some reason, they’re actually going to accomplish them because this year is going to be different.

They’re not going about it any different from previous years, but for some reason this year they’re finally going to be able to check that resolution off the list. I feel like this is the exact definition of insanity – doing the same thing over and over again and expecting a different result.

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To Hell with New Year's Resolutions, Just Form One Good Habit

So, how are those New Year’s resolutions coming? It’s only a few days into the year, so I’m sure they’re going great. Or are they?

If you missed last week’s post, Why New Year’s Resolutions Suck, you know my opinion of them. Let’s face it, New Year’s resolutions are destined to fail even before the year begins. If you’re one of the rare few who can accomplish them, then more power to you. If not, keep on reading.

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Why Don't People Practice What They Preach?

We are all guilty of it. We’re much better telling people what to do than actually doing it ourselves. My wife is awesome at this (don’t worry, she’s well aware). Here motto truly is “do as I say, not as I do.”

But it’s not just her – and me for that matter – but so many other people out there. Why do financial planners preach no credit card debt but have credit card debt themselves? Why do politicians have extramarital affairs but preach family values? Why do prosecuting attorneys put people in jail but then break the law themselves? Why do doctors preach good health but are overweight and smoke? So many questions!

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What Your Dog Can Teach You About Being a Better Person

Let’s face it; everyone loves the family dog – sometimes even more than their actual family. With the amount of love we have for our dogs, not to mention the amount of money we spend on them, you’d think we’d try to learn something from them.

They certainly make our lives happier, but can we actually learn something from them? Well, of course we can. Here are a few things your dog can teach you about being a better person. Listen up, your dog is actually doing more for you than you think.

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