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Wealth Management 101 

Latest From My Personal Finance Blog

What Is Financial Fitness?

The New Year often brings thoughts of getting back in shape — getting fit. Yes, I know that usually means physically…but why not financially? Thing is, few of us know what it really means to be financially fit. And even fewer of us know how to get there. This article will cover the five key elements of financial fitness and how to achieve them.

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Why Financial Advisors Charge Fees, and Why That’s OK

We live in an age of self-service. We ring up our own groceries, do our own taxes, shop for our own insurance, book our own vacations, and invest our own savings. The innovations that allow us to do these things have led to lower costs for providers and consumers, making these goods and services cheaper to consume and thus more widely available. I believe that this is a good thing.

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Harvest Time: Making the Most of Your Losses

Ah, autumn! The harvest season! Right now, images of pumpkins, squashes, fall fruits, and overflowing cornucopias abound. But what does this have to do with investing? I’m glad you asked. This fall, as thoughts turn to wrapping up for the year’s end, consider the idea of Tax Loss Harvesting. Put simply, if you have investments that have lost value, you might be able to use them to avoid taxes on investments that did better.

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What Is Asset Allocation & Why Does It Matter?

Financial experts like to use jargon — it’s a character flaw, I must admit. And one piece of jargon you hear often is “asset allocation.” While this can sound intimidating, it’s actually a very simple concept. Asset allocation is how you divide (allocate) your savings (assets) between different types of investments. Those types of investments typically include stocks, bonds, cash, and sometimes real estate or alternative investments. When we talk about asset allocation, we typically talk in percentages. As in: let’s allocate X percent in stocks, Y percent in bonds, and Z percent in cash. So, we know what asset allocation is — but why does it matter?

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Building Wealth With an HSA

Open enrollment season for employer benefits is upon us, and once again we are all being asked to make a big batch of decisions that will impact our welfare in the coming year (and our long-term prospects as well). As you gaze into your crystal ball and try to predict your needs over the next 12 months, allow me to put a bug in your ear about a little-known but highly valuable wealth-building tool that you may want to include in your upcoming benefit elections.

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Understanding Credit: Your Score vs. Your Report

Credit: Most of us will need it at some point, but few of us really understand how it works. In fact, we may get our initial rude awaking when trying to make our first-ever big, meaningful purchase. If you have large financial goals like buying a home, buying a car, or financing a business startup, credit may play a key role in realizing those goals. Now is the time to educate yourself so you can be ready when the time comes.

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