Do You Understand The Term Diversification?

Diversification is a term that is often discussed, but is still widely misunderstood amongst investors today. When the financial markets collapsed in 2008, many investors were left wondering if the opportunities to truly diversify were fewer than they once believed. Diversification: Is NOT having your money at four different banks. Many investors still do not understand how FDIC insurance works. Diversification: Is NOT having your money at four separate financial institutions. Many wealthy investors often believe they spread their diversifications risk by hiring money managers at different brokerage houses. This is hardly ever the case. Diversification: Is NOT leaving your 401(k)’s at three old employers. It’s extremely scary to see how many people buy the same mutual funds through their 401(k) at different employers and never really look at their investment strategy as a whole. Diversification: Is NOT necessarily done by buying different mutual funds or exchange traded funds from the same fund family. Diversification: Is NOT subtracting your age ...

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Don’t Forget To Protect The Golden Goose

I have delivered insurance checks in my career and nobody has ever told me they have too much life insurance after a loved one dies. It’s really ironic because there are many media pundits who beat up on having unnecessary life insurance, but those writers don’t have to pick up the pieces after a major breadwinner dies in a family. Recent studies still say that the odds of dying are 1 out of 1. LOL. Even though I think that most families are woefully underinsured when it comes to life insurance, the greatest gap I see amongst Generation X and Generation Y is an apathetic amount of disability insurance. Most people who work for companies believe that the amount of disability insurance they get through work will be adequate to cover their situation should they sustain a long term disability. The stark reality is that most Gen X’ers an Gen Y’ers don’t even read the benefits manual to understand the ...

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He who hestitates…SAVES! Why it’s always worth the wait.

By: Genna Jenkin The Your Smart Money Moves Mom Hello, my name is Genna and I am a sales-a-holic.  I am in recovery, but everyday is a struggle.  I believe my addiction is congenital as I come from a long line of bargain boasters and I am hoping it doesn’t present itself in any of my children.  You know the types, they share legendary tales of high-end purchases made for next to nothing, often on items they didn’t really need. Our current culture totally feeds into this type of mentality.  We are constantly bombarded by flash sales, daily deals and reality television showing us all of the ways we can beat the system and get what we want (and more) for a rock-bottom price.  This, combined with wanting to provide our kids with all the things we didn’t have can make for a financial nightmare. The operative word  here is “want”.   We have all heard the much debated argument of ...

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How To Save Money On Groceries

Sometimes it can feel like your family is an equal opportunity shopper when it comes to your grocery bill.  When you look back at the debit card or credit card at the end of the month, you can see charges from Publix, Kroger, Trader’s Joes, and Whole Foods.   You begin to ask yourself between the groceries you purchased during the month and the charges you had for eating out, it is possible that you really ate that much food and yet there is still nothing in the pantry?   If your family grocery bill is exceeding your monthly expectations and hitting that $1,000 a month mark, here are four smart money move tips on how to cut down on your grocery bill. Look For A Local Produce Program– Recently, my wife found a local program where we live in Milton that allows you to get a box of ‘produce’ every week based upon the number of people in your family.  What’s ...

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