Why Shouldn't We Discuss Personal Finances with Friends?

Awkward financial conversations 1

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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The 5 Things You Should Do After Purchasing Life Insurance

What to do after buying 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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How Much Life Insurance Do You Really Need?

How Much Life Insurance

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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How 15 Minutes Could Get You 15 Times the Return

Best Online Savings Accounts

No, this isn’t some kind of get rich scheme that I’m pitching but rather something everyone who has a savings account should really consider. According to gobankingrates.com, as of April 2016, the average savings account interest rate was only .06%. That’s right, only .06%!

Believe it or not, though, I have seen many clients who branch at their local (insert giant bank name here) earning a measly .01%. That means if you had $50,000 sitting in a savings account there, your annual interest would add up to a whopping $5!

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One of the Biggest Pitfalls to Maxing Out Your 401k Early in the Year

Biggest Pitfall to Maxing Out 401k

First of all, congratulations that you are able to max out your 401k. Whether it’s $18,000 if you are under 50 years old or $24,000 if you’re over 50, that is a lot of money to sock away on an annual basis.

Now that we have established you're contributing the max, the next question I ask is do you receive matching contributions from your employer? If the answer is yes, another congratulations are in order because not all employers provide a company match.

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