.7 Mistakes People Make When Choosing a Financial Advisor

Smart Asset October 31, 2021

Choosing a financial advisor is a major life decision that can determine your financial trajectory for years to come. A 2020 Northwestern Mutual study found that 71% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.

The value of working with a financial advisor varies by person and advisors are legally prohibited from promising returns, but research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.

.7 Situations When You Need a Financial Advisor Most

Matt Wiley MAR 28, 2019

Do you know enough about financial management to take care of all of your investing on your own? Or do you need help from a seasoned expert?

That question comes up for millions of Americans each year.

.15 Things A Personal Finance Expert Suggests Parents Do To Help Their Kids Be Good With Money

Thu, October 28, 2021,

I like to imagine I was raised to be financially intelligent (thanks ma and pa) but now that I have a kid of my own, I was curious what an expert had to say about raising kids to be good with money.

I write about personal finance and money, so you'd hope I have it together — and for the most part, I think I do. I owe my love of saving money and my abhorrence of debt to my parents who set me up with a bank account at birth, had me get a job as soon as it was legal, and made me save up for the dumb plastic toys I thought I just had to have.

.How To Rebound From a Bad Financial Year in 2020

By Andrew Lisa May 17, 2021

Follow these steps to improve your financial health.

Many Americans toasted the end of 2020 and woke up in 2021 realizing that while the end is in sight, we still have a long way to go to conquer the pandemic and right the economy. You may be one of the millions of Americans who lost their jobs, closed a business, faced unexpected expenses or experienced some other major loss due to COVID-19. The first thing to know is this: You are not alone.

Even more comforting, you still have the power to achieve financial freedom despite the setbacks of last year. With a little effort, you can shore up your budget, reduce your expenses and manage your financial recovery. The following short list of actions you can take right now will help you improve your financial health this year.

.Tips To Keep Your Finances in Order Without Sacrificing What You Want

Cameron Huddleston Last updated: Oct. 25, 2021

If you’re trying to live on a budget, you might not feel like you can have the things you want. But you don’t have to resign yourself to living a bare-bones existence if your budget is tight — it’s possible to live on a budget and get some of the stuff you want.

Create a Budget That Prioritizes Needs

If your income is limited, make sure it covers your needs first. “Food, shelter, clothing and utilities are needs,” said Donna Freedman, author of “Your Playbook For Tough Times. “The rest is just a series of wants.”

.How To Set Up An Estate Plan

Georgina Tzanetos Tue, October 26, 2021, 10:07 AM·7 min read

Thinking about estate plans usually evokes an image of a wealthy family summoning their family lawyer to make sure their summer homes pass through to the children while evading taxes. Modern estate planning though is much more about organizing your financial assets to make sure they are protected from new problems, such as outside business ventures or a potential divorce — or even a pandemic. According to a new survey from Edward Jones, a third of Americans say the pandemic has triggered conversations with their family about end-of-life plans.

An estate plan is a contract that is put in place to disperse and dispose of a person’s assets upon their death or selected time of transfer for the assets. This can include wills, trusts, powers of attorney, probates and more. It is up to the individual who created the estate plan to determine who the beneficiaries of their estate will be.

.16 Simple Things That People Say Helped Them Feel Less Worried About Money

Tue, October 26, 2021, 12:16 PM

Learning to work through the feelings that come up around money can be *quite* the journey. So when a redditor asked the folks at r/PersonalFinance for their tips on dealing with money anxiety, the responses that came in showed a really interesting range of ideas, both financial and psychological.

Here are some of the top comments:

1."Coming from a frugal but financially stable background, what helped me was budgeting and an adequate emergency fund. Once you understand what your life costs, and you have three, six, nine, 12 months or whatever of living expenses saved up, it helps not to worry about the future. If I lose my job, my house, get divorced, whatever, I know I can make it work." —u/meggers26

Nothing Happens Without a Plan

200-Level (Intermediate) | Retirement Planning

Updated October 15, 2021

October is Financial Planning Month. Of course, it’s also Adopt a Shelter Dog Month, Breast Cancer Awareness Month, Domestic Violence Awareness Month, Global Diversity Awareness Month, National Bullying Prevention Month, Estate & Gift Planning Awareness Month, and more. There’s plenty of awareness, appreciation, and support-worthy causes to recognize and celebrate this month.

But since Financial Planning is one topic highlighted this month, there’s no time like the present to do something vital for you and your future. Rarely anything happens without a plan. Even your daily to-do list is essentially a plan. If something isn’t on that list, the chances of it getting done go down dramatically.