Here’s a quick, easy mental exercise: How close to the dollar can you recall your recurring expenses (mortgage, car, electricity, etc.). You’re probably on the money or close for most of them. But, how about for your investment fees? Is that a little harder?
Ask a friend or relative how much money they make, you’re likely met with silence. But ask for an investment tip and seemingly everyone opens right up – for better or worse.
These days, it is rare for someone to spend their career in one place. Most people jump around, leaving for a higher salary or winning work culture, much like professional athletes. There is nothing wrong with trying to better yourself, but it can come with a downside when you’re ready to hang it up: finding all of your old retirement benefits.
Last week, Advance Capital Management was named to the Barron’s list of America’s Best RIAs. We are honored and grateful to our clients for making this possible.
It doesn’t take psychic powers to become a successful investor. In fact, the better way to invest is by acknowledging the fact you can’t predict the future. The trick is diversification, which is the investment strategy of owning a mix of investments in your portfolio.
MacGyver was resourceful, as you are resourceful.
The plucky polymath from the action-packed TV show could take any household items at his disposal – paperclips, a piece of chewing gum, some Duct tape, a Swiss Army Knife – and build a highly effective device to save the day. Similarly, as you plan for retirement, you essentially have to assemble various assets to create an effective, sustainable income stream.
By Vince Vitale
What does it mean to be financially literate?
I bet most people will say it’s simply the ability to manage one’s own finances. That is something most Americans struggle to do.
Consider these remarkable statistics of personal financial health in America:
We all know 2020 has been anything but normal. In a time of a global pandemic, economic recession, social unrest and high political partisanship, this year’s presidential election is unlikely to follow any type of script either. On top of what it may mean for the country’s future, you are probably wondering what it could mean for your portfolio and financial goals.
By Kurt Mears, Advance Capital Management Financial Adviser
What every federal government employee knows is that one of your primary retirement income sources will be the FERS basic benefit. Along with Social Security, this pension-like system is a coveted form of guaranteed income. What you may not know is how exactly your FERS retirement benefit is calculated.
A common perk of working for a company is a retirement plan. What about if you work for yourself? Will you have a harder time retiring when you decide to call it quits?
