To meet any of our goals with money, it helps to make sure that both our big and small expenses are under control. Therefore, many financial websites focus on eliminating small expenses (like getting coffee out), while also working on larger expenses (like buying used cars). However, one of the largest expenses that most people don't focus on is the cost of a financial advisor. A financial advisor may charge between $1,000 and $2,500 for the creation of a financial plan or $150-$300 per hour. Although this is a large dollar amount, having to pay $1,000 or $2,000 for a financial plan is not the reason that we should fire…
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Be Smart Now and Rich Later: How Teens Can Win with Money
As a high school teacher who talks openly about money and investments with my students, I am often asked about money. Even for the student who doesn’t want to pay attention in math class, they often get excited when we start talking about money. However, even though every one of my students wants to have money when they are older, many of them feel that investing takes too long. Many of them want to become rich now … not when they are in their 40s, 50s, or even 60s. And every single one of my students doesn’t want to hear about things that they can do when they turn 30.…
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Index Funds Can Save You Over $200,000!
It’s a pretty outrageous claim that I made in the title of this post. Index funds can save you (and me) over $200,000 throughout the course of our lives …. Hmmm … that certainly doesn’t sound true. But, just in case it is, let’s explore the statement. Since I started writing this on Black Friday (the ultimate shopping day here in the United States), this could actually be the biggest Black Friday savings ever! Before we dive into saving money with an index fund, it helps to know what it actually is. Basically, an index fund is a collection of stocks put together to make up a mutual fund. This…
