.Taking Sides on Financial Issues

Adam M. Grossman | June 6, 2021

WHEN IT COMES to financial questions, there are two common reasons people disagree. Sometimes, they disagree about the facts—whether, say, interest rates are headed higher. But sometimes, people disagree for another reason: They see the world through different lenses.

Last week, I mentioned that Ray Dalio, a prominent hedge fund manager, had recently said that bonds “have become stupid.” I disagreed, but not because of the facts. There’s no disputing the impact of today’s low rates. But I think the wisdom of owning bonds depends on what you’re trying to accomplish. If you’re a hedge fund manager like Dalio, your objectives will be different from those of an individual investor. For a hedge fund, maybe bonds are stupid. But for an individual investor, they might make a ton of sense. It’s a matter of perspective.

Below are five other issues that I also see as matters of perspective.

.What You Need To Know Before You Invest In Anything

Thomas Kopelman / June 1, 2021

As a financial advisor, I get asked almost daily what I am investing in.

It mostly sounds like this “are you invested in Bitcoin? Ethereum, Apple, Tesla, AMC, etc.” The list could go on forever. I always have a hard time answering this question because what I invest in doesn’t really matter. Just because I invest in certain things does not mean you should and vise versa. The real question is “why do I invest in those things?” The why is so much more important than the what.

And for me, I have a deep why for my investing strategy.

I believe in low cost, diversified investing for most of my portfolio. About 80% of my current portfolio is in low cost index funds that have the exposure I want (the same as our RLS Wealth clients). Some to large cap, some to mid cap, some to small cap, some to international, some to value, and some to growth.

.My Uncle Died Without a Will – And It Was a Nightmare

Written by Hannah Logan Publish date: June 4, 2021

What happens when a family member dies and doesn't leave a will? It's not pleasant, as one woman recounts. It's a frustrating exercise that underscores why everyone should have a legal will.

In April of 2017, my family got a call we never expected.

My father’s youngest brother had died suddenly in his home. My uncle Peter was a single man without children, so it fell upon my family to take care of his estate. While this is never a pleasant task for any family, our experience was made several times more difficult and stressful due to the fact that we were unable to find his legal will.

He was a former member of the Canadian Navy, based in Halifax. Upon receiving the news my parents flew out to Nova Scotia from our family home in Ontario to take care of everything.

.50 Ways You’re Throwing Money Away

Sabah Karimi Fri, June 11, 2021,

You probably don't realize all the ways you're wasting money and leaving free money on the table -- and these little missteps can add up to big dollar losses. Fortunately, once you're aware of these bad money behaviors, you can take steps to change them. Making small tweaks to your lifestyle and spending habits could pay off in a big way.

Throwing Money Away on Layaway

While layaway might seem like a sensible way to hold onto something you want to buy, it's not always a smart way to net savings. That's because layaway locks you into a certain price and -- if ultimately financed by a credit card -- additional interest charges.

..Old-School Money Advice You Shouldn’t Follow Anymore

These old-school rules could hurt you financially.

By Valencia Higuera

If you don't know much about money, you don't have to look far for advice. You can always learn from personal finance articles, books and videos or from money-savvy friends and family. Although there's no short supply of guidance, money rules can shift over time. For that matter, some old-school advice should be taken with a grain of salt. Here's what the experts said is some of the worst money advice.

Pay Off Your Mortgage Early

Most people need a mortgage to purchase a home. However, financing a house entails paying thousands of dollars in interest. To reduce interest charges, some borrowers come up with a plan to pay off their mortgages early by making extra payments. This advice isn't bad in itself, but according to Paul Moyer, the founder of SavingFreak.com, this advice doesn't make the same financial sense in our current low-interest environment as it did when mortgage rates were higher, like 6% to 8%.

.12 Essential Money Tips for Every Phase of Your Financial Life

Get the secrets money experts want you to know. By Gabrielle Olya May 17, 2021

Everyone makes money missteps at some point in their lives, whether it's splurging on unnecessary items or neglecting to contribute to retirement funds as soon as possible. Even financial pros are not immune to making mistakes. To help you avoid unnecessary pitfalls, check out these tips and tricks that can help you live your best money life -- no matter your age.

Start With Saving

Although it’s tempting to spend rather than save when you get a paycheck, it’s important to prioritize putting money away into your checking or savings account. On top of that, you should also use the right checking or savings accounts to grow your money.

.Rude Money Habits You Need To Break Now

Gabrielle Olya Tue, June 8, 2021,

Money can be a touchy subject, so how you approach it with others may take some extra thought and consideration. And although everyone has different levels of comfort when it comes to how they approach finances with friends, family and people they are doing business with, some behaviors are outright rude no matter who you are dealing with.

Here are 10 rude money habits you need to break now.

Money can be a touchy subject, so how you approach it with others may take some extra thought and consideration. And although everyone has different levels of comfort when it comes to how they approach finances with friends, family and people they are doing business with, some behaviors are outright rude no matter who you are dealing with.

.Financial Checklist for the Newly Married

Relationships & Money

Congratulations! You just got married! Maybe you even tied the knot without spending a fortune (now that is truly a feat). Regardless, you managed to get married in the middle of a global pandemic, so you deserve major kudos.

Now what?

As a newly-christened household, there are financial steps you and your partner need to take to make sure you’re legally and financially starting off on the right foot.