What Fantasy Football Can Teach You About Diversification (or Your Financial Plan)

The football season is upon us again here as the fall rolls around and neighborhoods and workplaces are buzzing with Fantasy Football fever.  The Fantasy Trade Sports Association commented that the Fantasy Football market is more than a 70 billion dollar industry today and growing.   With so many people joining multiple leagues, what can this popular game teach us about how we manage our portfolios and diversify our assets. Do Your Homework? It’s shocking how many people don’t know what they own in their 401(k), IRA, or their brokerage accounts.  You may have purchased a target fund or some growth and income fund, but you don’t actually know what you own.   Moreover, you may not understand the risks on how much you could gain in one year or how much you could potentially lose in one year.  It’s important to read the prospectus before you invest, look at the track record of the investment you will be making, and learn ...

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The Case Of The Broken Cell Phone

Recently, we took our family to a very fun staycation in Nashville. With three teenagers in our household (17, 15, and 13), we often put all of the children together in a room of their own on vacations. The favorite social media application today for teenagers is Instagram bar none. As we all know, teenagers in every family love to squabble and jab at each other. While my youngest two children began to argue over an Instagram picture, my middle daughter decided it would be a good idea to launch my son’s phone across the room and against the wall with Tom Brady accuracy. Ultimately, when they picked up the phone the entire screen was cracked and the device was completely non-functional. In my opinion, many teenagers today simply don’t understand the value of a dollar. They most certainly don’t understand the cost of technology. To them, it all seems free as long as their mobile devices are working. Even ...

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