Posts Tagged ‘finances’

Tune out the media hype and catch the launch of my new radio segment, “Your Personal Economy”, this week on Your Financial Editor!

Friday, September 30th, 2011

Today’s economic troubles and financial volatility are taking a toll on retiree’s across the nation.  Triple digit point swings in the market, sometimes on a daily basis, have created a new level of anxiety and stress for those who depend on the wealth they’ve created to see them through a successful and fulfilling retirement.  By tuning out the media hype and financial “noise”, investors can focus on what really matters – what I refer to as “Your Personal Economy”.  Structuring a wealth management strategy that is not only based on sophisticated models, but also one that is actively managed, provides you with opportunities and peace of mind that others can’t achieve because they find themselves caught up in the mainstream.

The inaugural “Your Personal Economy” segment will be about Retiring with Confidence.  I’ll be discussing some basic questions surrounding a successful retirement plan.  I’ll also analyze and review a report from the Federal Reserve regarding headwinds for Baby Boomers’ retirement.

As usual, I’ll breakdown the top stories of the week from  the world of business and finance.

Join me for the premier this Saturday, October 1st at 8am on AM 930 WFMD!

College Kids and Money 101

Monday, January 24th, 2011

No matter how distinguished the university, many students come out as naive about money and spending as when they went in.  Because of recieving allowances, credit cards, gift cards, etc from their parents, they never seem to master the responsibility of managing their finances.  There was a great piece on this week lisitng the 8 misconceptions college kids have about money.  If you have kids or grandkids in school, you may want to check it out.  When you finished reading it, send it to the college kid with the next batch of homemade cookies you send out!

Is there a particular strategy that works best when teaching kids about money?

Tuesday, January 11th, 2011

This is a question that I am often asked.  In today’s society many people are very dedicated to spending time with their children and grandchildren.  Good parents and grandparents teach these children vital things like morals, values, honesty, integrity, charity, to help others, etc.

Even better, many, if not most, lead by example so the youngsters can not only hear the words, but also see the action and results.

Money and money issues are no different.  The sooner involve children with financial responsibilities, the better chance they will have of making prudent decisions and protecting themselves.

Let’s face it; this last recession in particular had a lot to do with people getting in over their heads.  Who, in a normal state of mind, wouldn’t question not only getting a mortgage for more than they could afford, but also getting an extra $25,000, $50,000, or $100,000+ at the settlement table for walking around money?  Come on!  I guarantee anybody that lived through or around the depression era didn’t succumb to those temptations.  Why?  Because they either learned the lesson of living within their means because they didn’t have anything or they saw what was going on around them to other people in their neighborhood and across the county back then.

So, talk about money just like you would any other subject.  Start with a piggy bank and progress to an allowance, then a prepaid card (which will require restraint), then a checking account and finally a credit card or some other line of credit.

The more they learn, hopefully, the more control they’ll have over their finances as they get older.  I know I didn’t pave any new roads here, but I think the basics are all that is needed. 

Thanks for the question and have a great New Year!