- Cut living expenses. In times when we are not worried about negative financial outcomes, we tend to spend more extravagantly. Often, the things that we spend money on are things that don’t actually provide us with a lot of psychic value, or that we perceive as too onerous to
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 something and completely forget about it. I still would rather see someone invest in a low-cost target date fund, such as Vanguard’s target date funds, than see someone pay over the top for a robo-investor.
You have … Read the article
- Why is it important to check in with your finances quarterly or biannually?
- 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 I recommend making on a monthly basis. Second, you want to check to make sure that there are no unrecognized charges or transactions in these accounts. While you have limited liability on them, particularly with credit
When it comes to success, there are no shortcuts.
I recently read an article extolling how easy it was to get started on the journey to financial independence.
I’m sure the author is a good person and well meaning. He seems to be smart and motivated, having earned a CPA in 2018.
Some of the advice is good, such as answering the question why about your financial goals and looking to reduce your unnecessary spending to tighten your budget.
However, some of it was quite short-sighted.
The crux … Read the article