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Personal Finance FAQ

Growing the Economy Will Not Solve Systemic Racism

We want to see a world where black lives matter in order for us to get to a world where all of our humanity is respected. –Alicia Garza On June 5, 2020, the jobs report came in better than expected. Unemployment was only 13.3%, compared to expectations of 20% unemployment. Accordingly, the S&P 500 went […]

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Personal Finance FAQ

Is Owning a Home a Necessary Part of a Retirement Plan?

Dallas, Texas based Certified Financial Planner Jason Hull of Hull Financial Planning firmly believes that owning a home is not a necessary part of a retirement plan. A study by Walter D’Lima of Old Dominion University and Paul Schultz of Notre Dame showed that >real estate investors outperform general market indices, but only when they: […]

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Personal Finance FAQ

Prepare Your Money for a Recession

While the coronavirus induced recession is forcing all of us to reevaluate our financial behaviors with a close eye for detail, these are habits that will serve us well whenever life has returned to normalcy, which, hopefully, is sooner rather than later! Cut living expenses. In times when we are not worried about negative financial outcomes, […]

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Personal Finance FAQ

Should Millennials Use Roboadvisors?

For whom would a robo-advisor be a good choice? There are only a couple of situations where I think that robo-investors (I really call them robo-investors, as they’re not robo-advisors, such as myfinancialanswers.com) are appropriate for a millennial: You are absolutely, positively, never going to rebalance your portfolio, and you want to put money into […]

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Personal Finance FAQ

How to Spring Clean Your Finances

Why is it important to check in with your finances quarterly or biannually? I’m a fan of bucketing your check ins with your finances: Monthly: Check your checking and credit card accounts. What you’re looking for are a couple of things. First, you want to make sure that you’re not spending beyond your budget, which […]

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Personal Finance FAQ

Why Should You Think About Updating Your Will During the Coronavirus Pandemic?

Generally speaking, people are afraid to face their own mortality. We have a psychological trait called optimism bias that is often very beneficial – it’s what helps us to believe in a brighter future and to wake up in the morning and go to work. If we didn’t have optimism bias, we’d sink into depression and live […]