5 ways to keep from making these top common money mistakes

YouTube bloggers revisit their own spending mistakes regularly, says Sarah Wilson, a personal finance blogger who lives in College Station, Texas. “When people take more time to think about how they’re going to spend their money they’re far less likely to wish they hadn’t spent it.” In a more recent YouTube video, Wilson details misguided spending on shoes, luggage and cookware, and shares some commonsense strategies to avoid financial mistakes. Habits firstSpending money doesn’t equal meeting g


YouTube bloggers revisit their own spending mistakes regularly, says Sarah Wilson, a personal finance blogger who lives in College Station, Texas.
“When people take more time to think about how they’re going to spend their money they’re far less likely to wish they hadn’t spent it.”
In a more recent YouTube video, Wilson details misguided spending on shoes, luggage and cookware, and shares some commonsense strategies to avoid financial mistakes.
Habits firstSpending money doesn’t equal meeting g
5 ways to keep from making these top common money mistakes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: jill cornfield
Keywords: news, cnbc, companies, spend, making, wilson, youre, mistakes, youve, common, gym, doesnt, ways, youtube, spending, lum, money


5 ways to keep from making these top common money mistakes

Sarah Wilson, of BudgetGirl, recommends looking for cheap or free alternatives before actually buying. Source: Sarah Wilson

You’re not the only one with spending sorrows. In recent years, some popular YouTube bloggers have started making videos confessing their biggest money mistakes, running the gamut from spending thousands of dollars on interior design for a rental apartment (“I didn’t do my research,” said Monica Church) to refusing to use public transportation (“I regret every dollar I spent on that temporary Hundai Accent,” said Chelsea Fagan). These trending videos have struck a nerve with viewers, with hundreds of thousands of views, and more money-confession clips are posting all the time. Even if you’re not a YouTube blogger or influencer yourself, you might still be regretting a $995 pair of fur-lined Gucci loafers or an underwhelming meal in Paris that still managed to set you back $400 — or maybe just an unused gym membership. YouTube bloggers revisit their own spending mistakes regularly, says Sarah Wilson, a personal finance blogger who lives in College Station, Texas. “I did one four years ago on what I would have done differently with student loans.” The patterns Wilson sees resurface frequently. “Impulse buys of any category are almost always [going to be] regrets,” she said. “When people take more time to think about how they’re going to spend their money they’re far less likely to wish they hadn’t spent it.”

There are different ways of feeling bad about a purchase, says Joseph Lum, a certified financial planner at Intersect Capital in San Ramon, California. Sometimes an item doesn’t live up to your expectations. Purchasing something beyond your means can also be upsetting, if you’re still paying for it many months and many dollars later, thanks to interest charges. The top thing you need to do is figure out exactly how much you can spend freely throughout a given month or year so you’re not affected negatively. That brings up the ugly “B word” — budgeting — which Lum says doesn’t work, due to its restrictive nature. “It’s like diets,” he said. “The entire premise is that it’s built on restricting yourself.” More from Invest in You:

Money mind hacks from bloggers can boost your finances

Retirement luxury on a Social Security budget

The biggest regrets people have about investing in stocks Financial freedom is not a matter of attaining some magic number, like $100,000. “It’s the freedom to spend at your discretion because you’ve taken care of business,” Lum said. “You don’t have guilt.” That ease with spending comes after you’ve worked out how to pay yourself first — saving for retirement, emergencies and so on. “Say there’s 20% left over,” Lum said. That’s yours to spend or splurge however you want. In a more recent YouTube video, Wilson details misguided spending on shoes, luggage and cookware, and shares some commonsense strategies to avoid financial mistakes.

Habits first

Spending money doesn’t equal meeting goals. “It creates a false sense of accomplishment in your brain, when all you’ve done is spend money,” Wilson said. Fitness trackers, gym membership and sports equipment can be useful, but only if you use them. Signing up for a $10 monthly gym membership may seem like a good, cheap way of getting closer to your health goals. If you don’t go, you are looking at $120 in wasted fees each year. Reward yourself after accomplishing some milestones. “When you’ve worked out X number of times a week, then go ahead and get the Fabletics leggings,” Wilson said. And before you buy that fancy lunchbox, form the habit of packing your lunch one or two times a week.

Try for no-cost

Unused gym memberships are estimated to cost Americans some $1.8 billion annually. Before committing to months of payments, check your benefits package for any freebies, says Wilson, whose employer gives employees free classes at a local fitness club. “Your insurance may offer subsidies on gym equipment or memberships,” she said. YouTube has free videos on anything from yoga and Zumba to any other fitness workout you can imagine, and there are thousands of them. Instead of a FitBit or other fitness tracker, use the health app on your iPhone or install a free or low-cost app on an Android phone.

hundreddays

Test drive

Impulse spending can add up to $5,400 a year for the average person. Mulling a switch from a purse to a backpack? Before making a serious investment, try a cheaper version first to see if you like it. “More expensive doesn’t always mean better,” Wilson said.” A mistake many YouTubers make: They default to the super high-quality, then realize it doesn’t necessarily work for them.” Sometimes it’s right to go for quality from the start. “If you’re a cook and enjoy cooking, the [higher quality] is going to be the better choice,” Wilson said.

Pattern recognition

Many people struggle to recognize spending patterns. “For years, I purchased cheap shoes that fell apart immediately,” Wilson said. She similarly bought inexpensive cookware and then felt bad when it did not hold up. Learn from your bad choices so you can stop repeating them. “It’s the definition of insanity,” Wilson said. “A big part of my journey is recognizing when I’ve done things stupidly and sharing them — both for accountability and to help other people not make the same mistakes.”

Have a plan


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: jill cornfield
Keywords: news, cnbc, companies, spend, making, wilson, youre, mistakes, youve, common, gym, doesnt, ways, youtube, spending, lum, money


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

The most common investing regret is one you can limit just by getting started

The sooner you start investing, the easier it is to grow wealth for the future. Which is why the most common regret among investors is that they didn’t start sooner, according to a new poll from MagnifyMoney. Nearly one-third (31%) said they wished they had started saving for retirement sooner, while 24% lamented not investing in stocks sooner. The sooner you start investing, the more time your money has to grow, and the less you need to contribute from each paycheck to meet your retirement goal


The sooner you start investing, the easier it is to grow wealth for the future.
Which is why the most common regret among investors is that they didn’t start sooner, according to a new poll from MagnifyMoney.
Nearly one-third (31%) said they wished they had started saving for retirement sooner, while 24% lamented not investing in stocks sooner.
The sooner you start investing, the more time your money has to grow, and the less you need to contribute from each paycheck to meet your retirement goal
The most common investing regret is one you can limit just by getting started Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: ben jay
Keywords: news, cnbc, companies, younger, limit, investing, started, sooner, regret, interest, youre, common, investors, retirement, grow, getting, start


The most common investing regret is one you can limit just by getting started

The sooner you start investing, the easier it is to grow wealth for the future. Which is why the most common regret among investors is that they didn’t start sooner, according to a new poll from MagnifyMoney. Procrastination regrets affected 3 in 4 investors, according to Brianna Shoaf, a consumer research specialist at MagnifyMoney. Nearly one-third (31%) said they wished they had started saving for retirement sooner, while 24% lamented not investing in stocks sooner. Even 69% of Gen Zers, which the survey defined as those between the ages of 18 and 22, had regrets about not investing earlier, despite being about 45 years away from retirement. And the advice those investors would offer younger Americans? More than half (54%) say younger people should begin investing as soon as possible, and 16% recommended that they prioritize retirement savings.

An early start harnesses the power of compound interest

Time is a powerful asset for investors, thanks to compound interest. Compounding helps your money to grow at a faster rate because you earn interest on your savings as well as interest on the interest you’ve earned. The sooner you start investing, the more time your money has to grow, and the less you need to contribute from each paycheck to meet your retirement goals. “Millionaires are made in their 20s and 30s, not their 50s and 60s,” Fred Creutzer, president of Creutzer Financial Services told Grow last year. “If you wait until you’re 50, you’re never going to catch someone who started at a young age. When it comes to investing, the early bird always gets the worm.”

For example, say you’re 31 years old and earn $50,000 each year. You need to set aside 15% of your salary, or $643 each month, if you want to retire by 67. However, if you start saving at 29, you’ll be able to set aside about $61 less each month, or you can save the same amount and consider retiring closer to 66.


Company: cnbc, Activity: cnbc, Date: 2020-01-16  Authors: ben jay
Keywords: news, cnbc, companies, younger, limit, investing, started, sooner, regret, interest, youre, common, investors, retirement, grow, getting, start


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Democrat Cory Booker drops out of 2020 presidential race

Democratic presidential candidate Senator Cory Booker (D-NJ) responds to a question during a forum held by gun safety organizations the Giffords group and March For Our Lives in Las Vegas, Nevada, October 2, 2019. Sen. Cory Booker, D-N.J., dropped out of the 2020 presidential race Monday, after failing to gain traction in national polls and failing to qualify for two Democratic debates. Booker launched his bid for the Democratic nomination on Feb. 1, the first day of Black History Month. Booker


Democratic presidential candidate Senator Cory Booker (D-NJ) responds to a question during a forum held by gun safety organizations the Giffords group and March For Our Lives in Las Vegas, Nevada, October 2, 2019.
Sen. Cory Booker, D-N.J., dropped out of the 2020 presidential race Monday, after failing to gain traction in national polls and failing to qualify for two Democratic debates.
Booker launched his bid for the Democratic nomination on Feb. 1, the first day of Black History Month.
Booker
Democrat Cory Booker drops out of 2020 presidential race Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yelena dzhanova sunny kim, yelena dzhanova, sunny kim
Keywords: news, cnbc, companies, democrat, 2020, race, democratic, traction, cory, booker, stage, senator, campaign, right, presidential, drops, common


Democrat Cory Booker drops out of 2020 presidential race

Democratic presidential candidate Senator Cory Booker (D-NJ) responds to a question during a forum held by gun safety organizations the Giffords group and March For Our Lives in Las Vegas, Nevada, October 2, 2019.

Sen. Cory Booker, D-N.J., dropped out of the 2020 presidential race Monday, after failing to gain traction in national polls and failing to qualify for two Democratic debates.

“Today I’m suspending my campaign for president in the same spirit with which it began,” Booker said in a video posted Monday morning.

“It is my faith in us, my faith in us together as a nation that we share a common pain and common problems that can only be solved with a common purpose and a sense of common cause,” he said in the video.

“Campaigning over this last year has been one of the most meaningful experiences of my life. Meeting you, meeting people across this country who believe, who know that we may have challenges right now in our nation, but together, we will rise,” Booker said.

Booker launched his bid for the Democratic nomination on Feb. 1, the first day of Black History Month. But the senator from New Jersey failed to gain traction in national polls, reaching under 2% of support, according to RealClearPolitics.

He did not make the stage for the December Democratic debate, criticizing the DNC for upholding hard-to-reach standards to qualify. His departure leaves only three people of color in the race: businessman Andrew Yang, former Massachusetts Gov. Deval Patrick, and Rep. Tulsi Gabbard.

Booker vowed in the video to return to the 2020 campaign trail to support “whoever” becomes the eventual Democratic presidential nominee.

President Donald Trump tweeted about Booker’s departure, saying sarcastically that “Booker, who was in zero polling territory, just dropped out of the Democrat Presidential Primary Race. Now I can rest easy tonight. I was sooo concerned that I would someday have to go head to head with him!”

During his campaign, the former mayor of Newark focused on criminal justice reform and reducing racial and economic inequality. He often referenced living in Newark to highlight his credibility with urban communities. He supported progressive policies such as “Medicare for All” and the Green New Deal to address climate change, but he was considered a moderate.

Ultimately, Booker’s message of “love and unity” didn’t resonate with voters. Polls consistently put him far behind rivals including former Vice President Joe Biden, Sen. Bernie Sanders, I-Vt., and Sen. Elizabeth Warren, D-Mass.

Biden in a tweet said Booker “campaigned with joy and heart,” adding that he “made our politics better just by running.”

In an email immediately after his departure from the race, Booker’s campaign said he “ran for president as a uniter and a healer and a uniter and still believes that’s what our country needs right now.”

Booker’s connections with wealthy and influential donors initially appeared to give him a fundraising advantage over the crowded Democratic primary field. But he struggled to gain traction there as well, raising a little more than $6 million in the fourth quarter, badly lagging behind the front-runners.

“We’ve reached the point where we need more money to scale up and continue building a campaign that can win — money that is harder to raise having been blocked from the next debate stage and with urgent business of impeachment rightly keeping [Booker] in Washington,” a Monday email from his campaign said.

But Booker had his moments. When Biden touted his ability as a senator in the 1970s to reach across the aisle to work with segregationists, Booker pounced. He said the comments showed a “terrible lack of understanding” and called on Biden to apologize.

On the debate stage, he criticized Biden’s involvement in passing the 1994 crime bill that led to the mass incarceration of African Americans.

“There are people right now in prison for life for drug offenses because you stood up and used that ‘tough on crime’ phony rhetoric that got a lot of people elected but destroyed communities like mine,” Booker said.

— CNBC’s Kevin Breuninger contributed to this story.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: yelena dzhanova sunny kim, yelena dzhanova, sunny kim
Keywords: news, cnbc, companies, democrat, 2020, race, democratic, traction, cory, booker, stage, senator, campaign, right, presidential, drops, common


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Three best-performing S&P 500 stocks this year have something in common

The three top stocks in the S&P 500 are all chipmakers. Nancy Tengler, chief investment officer at Laffer Tengler Investments, says a few companies in the group still look good. Texas Instruments has outperformed the S&P 500, but Broadcom and Intel have lagged. All offer a dividend yield above the S&P 500 — Broadcom has the highest at 4.1%. Disclosure: Laffer Tengler Investments and Tengler have positions in Texas Instruments, Broadcom and Intel.


The three top stocks in the S&P 500 are all chipmakers.
Nancy Tengler, chief investment officer at Laffer Tengler Investments, says a few companies in the group still look good.
Texas Instruments has outperformed the S&P 500, but Broadcom and Intel have lagged.
All offer a dividend yield above the S&P 500 — Broadcom has the highest at 4.1%.
Disclosure: Laffer Tengler Investments and Tengler have positions in Texas Instruments, Broadcom and Intel.
Three best-performing S&P 500 stocks this year have something in common Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: keris lahiff
Keywords: news, cnbc, companies, common, instruments, newton, group, stocks, 500, broadcom, tengler, bestperforming, yield, look


Three best-performing S&P 500 stocks this year have something in common

The three top stocks in the S&P 500 are all chipmakers.

Advanced Micro Devices, Lam Research and KLA have all raced ahead of the pack this year, climbing by at least three times the S&P 500’s gains. The broader SMH semiconductor ETF is also on a tear, looking to close out its best year since 2003.

Mark Newton, founder of Newton Advisors, warns that the group could be getting overheated.

“It looks very much like we’re going to see mean reversion in 2020. This group has gotten way ahead of itself in a big way,” Newton said on CNBC’s “Trading Nation” on Monday.

Charts of the group’s top performer — Advanced Micro Devices — makes a solid case for a major pullback, Newton says.

“If you look at commonly looked-at indicators like the relative strength index, it’s back up over 70 on a monthly basis. That’s very much a concern. Last time you saw that, of course, is both 2014 and also the early part of 2018. Both those times coincide with periods of underperformance going forward,” said Newton.

Any reading above 70 on the RSI, a momentum measure, typically suggests overbought conditions.

“You look at the SOX semiconductor index, very similar. RSI right now over 70. You know my thinking is it’s right to really take the foot off the accelerator and think that this group starts to stall as we enter the month of January,” said Newton.

Nancy Tengler, chief investment officer at Laffer Tengler Investments, says a few companies in the group still look good.

“We missed Lam Research and I would be interested in that stock on a pullback. But, looking forward, we are investing in sort of the staid diversified names like Texas Instruments, Broadcom, even Intel has been attractive to us — dividend growth, yield alternative in this sort of market that has a dearth of yield,” Tengler said during the same segment.

Texas Instruments has outperformed the S&P 500, but Broadcom and Intel have lagged. All offer a dividend yield above the S&P 500 — Broadcom has the highest at 4.1%.

Disclosure: Laffer Tengler Investments and Tengler have positions in Texas Instruments, Broadcom and Intel.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-12-24  Authors: keris lahiff
Keywords: news, cnbc, companies, common, instruments, newton, group, stocks, 500, broadcom, tengler, bestperforming, yield, look


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Don’t make this common rookie mistake during a job interview, says career expert

“Tell me about yourself” is one of the most common interview questions, yet lots of job candidates draw a blank when trying to come up with a strong answer. Through practice and preparation, though, you can avoid common mistakes and make a good impression on your potential employer. Chelsea Goodman, president and career elevation expert at Got The Job, says one rookie mistake candidates make when asked about yourself is giving away too much. Start by thinking about how your current role has help


“Tell me about yourself” is one of the most common interview questions, yet lots of job candidates draw a blank when trying to come up with a strong answer.
Through practice and preparation, though, you can avoid common mistakes and make a good impression on your potential employer.
Chelsea Goodman, president and career elevation expert at Got The Job, says one rookie mistake candidates make when asked about yourself is giving away too much.
Start by thinking about how your current role has help
Don’t make this common rookie mistake during a job interview, says career expert Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: ivana pino, tim stobierski
Keywords: news, cnbc, companies, work, job, dont, start, mistake, common, career, interview, expert, weaknesses, strengths, rookie, set, goals, role, goodman, question


Don't make this common rookie mistake during a job interview, says career expert

“Tell me about yourself” is one of the most common interview questions, yet lots of job candidates draw a blank when trying to come up with a strong answer. Though the question may seem straightforward, it’s open-ended, and responding concisely and effectively is hard. Through practice and preparation, though, you can avoid common mistakes and make a good impression on your potential employer. Chelsea Goodman, president and career elevation expert at Got The Job, says one rookie mistake candidates make when asked about yourself is giving away too much. “More often than not, people are prepared with answers about their strengths and weaknesses, references from prior roles, yet when asked this question, they’ll start talking about their kids or the activities they enjoy doing outside of work, and that’s not the point of this question,” says Goodman. Instead, stay focused. Here are three points you want to cover when answering this question in an interview.

1. What are you doing now?

Goodman says your response should be a brief, like an elevator pitch. Avoid telling your entire life story. Instead, take a minute to pick out the most relevant details about you and your professional life. Start by thinking about how your current role has helped you improve your strengths and weaknesses. If you manage a team, describe your responsibilities and include specific examples of initiatives or projects that you oversee on a daily basis. You want to emphasize the experiences that make you qualified for the role, so try to be more selective about the information you share. “The impression that you make within the first couple of minutes during your interview is going to shape how that person thinks,” says Goodman. “There are many people who don’t start on the right foot and then they have to recover from that, all because they couldn’t answer the easiest question, which is not meant to be a 20 minute spiel about your life.”

2. What do you hope to do next?

Ideally, the role you’re applying for will take your career to the next level. Mention where you see yourself in the future and how, if given the opportunity, the role will set the stage to help you achieve those career goals. Come up with a few long-term goals and the time frame in which you hope to achieve them.

“You want to find out what you can about a company as it’s important to you,” says Berger. She suggests framing it your goals this way shows that this potential relationship could be mutually beneficial. Say the position is looking for a candidate who is willing to work flexible hours, rather than a set schedule, or to take on various projects at once. Mention how and why your situation has made you well-positioned, and excited, to rise to that challenge.

3. Why would you be good in this role?


Company: cnbc, Activity: cnbc, Date: 2019-12-14  Authors: ivana pino, tim stobierski
Keywords: news, cnbc, companies, work, job, dont, start, mistake, common, career, interview, expert, weaknesses, strengths, rookie, set, goals, role, goodman, question


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Don’t make this common mistake when starting up your 401(k)

In 401(k) and other workplace retirement plans, funds are typically listed alphabetically. Many Americans will depend on savings accumulated in a 401(k) or other workplace plan to fund a comfortable retirement. Some employers require you to work at the company for a specified period before you can start contributing to a 401(k). Pick your investments and review feesThere will be a few investment options to select from within your 401(k) plan, typically index funds, like the following: Stock fund


In 401(k) and other workplace retirement plans, funds are typically listed alphabetically.
Many Americans will depend on savings accumulated in a 401(k) or other workplace plan to fund a comfortable retirement.
Some employers require you to work at the company for a specified period before you can start contributing to a 401(k).
Pick your investments and review feesThere will be a few investment options to select from within your 401(k) plan, typically index funds, like the following: Stock fund
Don’t make this common mistake when starting up your 401(k) Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: anna-louise jackson
Keywords: news, cnbc, companies, stocks, options, investments, starting, plan, common, bonds, dont, 401k, mistake, investment, money, funds, retirement


Don't make this common mistake when starting up your 401(k)

Making sense of the options in your 401(k) can seem daunting at first. As a result, that causes many people to make investment decisions that are influenced by something very simple — the order in which they’re presented. In 401(k) and other workplace retirement plans, funds are typically listed alphabetically. This creates a significant cognitive bias, a mental trap that can affect your decisions. The earlier a fund shows up in your list of options, the more likely you are to include it among your investments. And you might invest more of your money in it, too, according to a recent research paper in the Financial Review. “Funds listed at the beginning of plan menus receive significantly greater allocations compared to funds listed towards the end of plan menus,” the authors concluded. Making wise investment decisions is an important part of setting up your 401(k). While it doesn’t take long to sign up and decide how much money to contribute, don’t skimp on the time you spend deciding how to invest that money.

Why you should take advantage of a 401(k)

Workplace retirement plans are a common benefit: Nearly seven in 10, or 67%, of employees had access to one in 2018, according to figures from the Employee Benefit Research Institute. But only 79% of employees with a workplace plan took advantage of it. Many Americans will depend on savings accumulated in a 401(k) or other workplace plan to fund a comfortable retirement. That’s why it’s so important to start investing as early as possible. And 401(k)s have other advantages: They offer a valuable tax break and many employers match a portion of contributions, which means they give you what amounts to free money that can supercharge your savings. Here’s how to get started.

1. Sign up

You might even be able to skip this step, since some companies automatically enroll new employees into a 401(k) with a default contribution — either a dollar amount or a small percentage of the employee’s salary. Whether your company automatically enrolls you or not, it’s still important to get details about the plan and when you can start contributing. Your first stop to get that info is the human resources department. “Go to HR and find out who the plan sponsor is,” David Reyes, a financial advisor and founder of Reyes Financial Architecture, told Grow earlier this year. That information can help you set up an account with that plan sponsor, if you’re not already enrolled, or log in to tackle the next steps. Some employers require you to work at the company for a specified period before you can start contributing to a 401(k). About 4 in 10 companies impose a wait of three months or more, according to data from the Plan Sponsor Council of America.

Video by Ian Wolsten

2. Decide how much to contribute

One reason experts like 401(k) plans so much is because they make it easy to start investing. “They take the guesswork out of when to invest because money comes out of your paycheck automatically,” Christine Benz, director of personal finance at Morningstar, told Grow earlier this year. “Turns out, that’s a really great way to invest.” Still, you need to decide how much money to contribute each pay period. Experts typically advise you aim to put away 10% to 15% of your salary for retirement each year, but even if you’re juggling a lot of other expenses, some is better than none. “Put $50 or $100 in there just so you’re used to saving and seeing a statement that has investments in there,” Reyes recommends. As you earn more money, aim to increase your contributions. You can make an annual 401(k) contribution of up to $19,000 a year, plus an extra $6,000 if you’re 50 or older, as of 2019. Those amounts increase to $19,500 and $6,500 for 2020. It’s especially important to contribute to a 401(k) if your employer offers a match. There are a variety of formulas for matching contributions, but the average reached a record high of 4.7% this year. That means, if you make $50,000 and contribute at least that amount, your company will contribute $2,350 as well.

3. Pick your investments and review fees

There will be a few investment options to select from within your 401(k) plan, typically index funds, like the following: Stock funds. Your options here may include companies of different sizes (small-, mid-, and large-cap stocks) or from different geographic regions (U.S. and international).

Your options here may include companies of different sizes (small-, mid-, and large-cap stocks) or from different geographic regions (U.S. and international). Bond funds . Options might range from funds representing a large portion of the bond market to specific regions.

. Options might range from funds representing a large portion of the bond market to specific regions. Target-date retirement funds. These are made up of a mix of investments that changes over time, depending on when you plan to retire.

Video by Courtney Stith When selecting investments, also known as determining your asset allocation, you have two options: The do-it-yourself route, in which you select individual investments from that list of funds, or the hands-off approach of allocating all your funds into one already-mixed target-date fund. Regardless, the goal is to have a variety of assets to balance out potential risks, or what’s known as diversification. Funds are grouped by asset type, so be sure to avoid that aforementioned alphabetical bias and compare similar options before making a decisions. If you take the DIY approach, you’ll need to decide what portion of your portfolio is invested in bonds versus stocks. The Baltimore-based money managers at T. Rowe Price suggest these goals: 20s and 30s: 90% to 100% in stocks (because of your long investment timeline), with up to 10% remaining in bonds.

90% to 100% in stocks (because of your long investment timeline), with up to 10% remaining in bonds. 40s: 80% to 100% in stocks, with up to 20% remaining in bonds.

80% to 100% in stocks, with up to 20% remaining in bonds. 50s: 60% to 80% in stocks, 20% to 30% in bonds, and up to 10% in cash.

60% to 80% in stocks, 20% to 30% in bonds, and up to 10% in cash. 60s: 50% to 65% in stocks, 25% to 35% in bonds, and 5% to 15% in cash. Target-date funds are popular because they alleviate the stress of figuring out asset allocation yourself. “Sometimes, not overthinking it is the best strategy,” Benz says. “You can really muddy the waters by trying to be too tactical.”

Sometimes, not overthinking it is the best strategy. You can really muddy the waters by trying to be too tactical. Christine Benz director of personal finance at Morningstar

As you pick investments, pay attention to fees for individual funds and the overall account. The lower, the better. All other things equal, an investor paying annual fees of 1.3% will reach retirement with about $100,000 less than one paying fees of just 0.25%, according to the Center for American Progress. If you see a lot of offerings in your plan with fees greater than 1%, Benz recommends contributing just enough money to get your employer’s match — and then shopping around for alternative ways to invest the rest, like an IRA.

Remember to check in periodically


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: anna-louise jackson
Keywords: news, cnbc, companies, stocks, options, investments, starting, plan, common, bonds, dont, 401k, mistake, investment, money, funds, retirement


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

A parenting expert shares the common mistake that psychologically damages kids—and what to do instead

When children are given an order, they’re more likely to resist being told what to do. When children are given an order, they’re more likely to resist being told what to do. While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future. While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future. Blaming is a put-down, and it can easily cause children to feel guilty, unlo


When children are given an order, they’re more likely to resist being told what to do.
When children are given an order, they’re more likely to resist being told what to do.
While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future.
While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future.
Blaming is a put-down, and it can easily cause children to feel guilty, unlo
A parenting expert shares the common mistake that psychologically damages kids—and what to do instead Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: hunter clarke-fields
Keywords: news, cnbc, companies, parenting, common, theyre, behavior, damages, cause, instead, expert, work, psychologically, kidsand, mistake, likely, given, children, shares, feel, resentment, order


A parenting expert shares the common mistake that psychologically damages kids—and what to do instead

When parents want their kids to follow an order, and their efforts at skillful communication aren’t working, they often “put their foot down” to enforce a solution. The immediate result? One person “wins,” getting his or her needs met, while the other “loses.” This outcome might work for you if you subscribe to an authoritarian parenting style, which stems from the belief that in order to develop properly, children need to be punished for bad behavior and be rewarded for good behavior. It’s a familiar and sensible concept to most parents, but those who follow it pay a high price for obedience.

Why punishment does more harm to your kids

How to raise good humans—without punishing them

The most effective way to enforce boundaries without putting your foot down is to let your kids make the rules — with the help of your guidance, of course. But the key is to focus on the words you use, as well as how you use them. Let’s say your kid just left a messy pile of toys all over the living room floor, after you both agreed that he or she could play with them — only if they clean everything up after they’re done. Here’s what not to say: “Pick these up right now. I don’t want you leaving a mess like that again.” When children are given an order, they’re more likely to resist being told what to do. (Imagine how you’d feel if you were given an avalanche of orders every day. It can get pretty overwhelming.)

When children are given an order, they’re more likely to resist being told what to do. (Imagine how you’d feel if you were given an avalanche of orders every day. It can get pretty overwhelming.) “If you don’t pick these up immediately, I’m going to take away your screen time.” Threats cause a similar resistance. They can make a child feel coerced and manipulated. While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future.

Threats cause a similar resistance. They can make a child feel coerced and manipulated. While it may work in the moment, it’s still likely to cause resentment and make them less likely to cooperate in the future. “You should know better.” Blaming is a put-down, and it can easily cause children to feel guilty, unloved and rejected. Even worse, it prevents you from developing a positive relationship with them. Instead, invite your kid to make changes from the inside out. Gently, without exhibiting any signs of anger, explain how their unacceptable behavior makes you feel. Always start with the word “I” (e.g., “I feel disappointed when I see this big mess.”).

Even wonderful, gentle punishments like a time-out or reasoning — those don’t work Alan Kazdin director, Yale Parenting Center

Next, help them understand how their behavior affects you both: “With all these toys on the ground, we can’t stretch out our legs like this” — and then lay down on the floor with your arms and legs expanded. When you lighten the mood and inject some humor, feelings of resentment, anger and guilt are less likely to take place.

Model the language you want your kids to use


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: hunter clarke-fields
Keywords: news, cnbc, companies, parenting, common, theyre, behavior, damages, cause, instead, expert, work, psychologically, kidsand, mistake, likely, given, children, shares, feel, resentment, order


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Don’t make this common mistake when picking investments for your 401(k)

Yet 401(k) investors are more likely to invest in mutual funds “early in the alphabet,” according to research from The Financial Review. The average 401(k) plan offers 19.8 fund options, according to the report, and the more options there are, the more likely participants are to choose the top-listed funds. But the so-called “alphabeticity bias” occurs even when investors aren’t given many investment choices in their 401(k) plan, the researchers behind the report found. Two psychological short c


Yet 401(k) investors are more likely to invest in mutual funds “early in the alphabet,” according to research from The Financial Review.
The average 401(k) plan offers 19.8 fund options, according to the report, and the more options there are, the more likely participants are to choose the top-listed funds.
But the so-called “alphabeticity bias” occurs even when investors aren’t given many investment choices in their 401(k) plan, the researchers behind the report found.
Two psychological short c
Don’t make this common mistake when picking investments for your 401(k) Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: alicia adamczyk
Keywords: news, cnbc, companies, investors, status, picking, common, bias, options, mutual, dont, investments, likely, report, mistake, fund, 401k, funds


Don't make this common mistake when picking investments for your 401(k)

When it comes to picking investments, first isn’t always best. Yet 401(k) investors are more likely to invest in mutual funds “early in the alphabet,” according to research from The Financial Review.

Funds beginning with A, B and C, in other words, are more likely to be selected by investors than those that begin with a letter later in the alphabet.

In fact, the first four funds listed receive 10% more money each, on average, than they would if investors’ money was allocated equally among all of the options, per the report. Funds listed 11th or lower received 10% less money.

The average 401(k) plan offers 19.8 fund options, according to the report, and the more options there are, the more likely participants are to choose the top-listed funds. But the so-called “alphabeticity bias” occurs even when investors aren’t given many investment choices in their 401(k) plan, the researchers behind the report found.

Two psychological short cuts humans use can help explain the phenomenon, the researchers contend: Status quo bias and “satisficing.” Status quo bias, or relying on the default options given, comes into play because most 401(k) plans list their mutual fund options in alphabetical order, and investors look through them in that order.

Satisificing occurs when an individual finds an “acceptable” mutual fund offering and stops looking at the funds offered beyond that, even though there could be better options further down the list.

These tendencies can have serious consequences for retirement savings.


Company: cnbc, Activity: cnbc, Date: 2019-12-11  Authors: alicia adamczyk
Keywords: news, cnbc, companies, investors, status, picking, common, bias, options, mutual, dont, investments, likely, report, mistake, fund, 401k, funds


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

These money habits in your ‘financial junk drawer’ are probably doing you more harm than good

You probably have a financial junk drawer — a hodgepodge of incomplete financial projects, goals and even a few secrets. Lots of people have one, says Amanda Priebe, a certified financial planner and wealth strategist at PNC Wealth Management. A common financial secret is making a purchase and lying about it, according to Kristy Archuleta, associate professor of financial planning at the University of Georgia. “Hiding income, large credit card debt and having a secret bank account are bigger com


You probably have a financial junk drawer — a hodgepodge of incomplete financial projects, goals and even a few secrets.
Lots of people have one, says Amanda Priebe, a certified financial planner and wealth strategist at PNC Wealth Management.
A common financial secret is making a purchase and lying about it, according to Kristy Archuleta, associate professor of financial planning at the University of Georgia.
“Hiding income, large credit card debt and having a secret bank account are bigger com
These money habits in your ‘financial junk drawer’ are probably doing you more harm than good Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: jill cornfield
Keywords: news, cnbc, companies, strategies, harm, wealth, likely, things, habits, financial, common, money, probably, drawer, purchase, priebe, good, doing, secret, making, junk


These money habits in your 'financial junk drawer' are probably doing you more harm than good

You probably have a financial junk drawer — a hodgepodge of incomplete financial projects, goals and even a few secrets.

Lots of people have one, says Amanda Priebe, a certified financial planner and wealth strategist at PNC Wealth Management.

But unlike that kitchen drawer filled with old packets of duck sauce and rubber bands, your money mishmash could be standing in the way of your goals. A common financial secret is making a purchase and lying about it, according to Kristy Archuleta, associate professor of financial planning at the University of Georgia.

Maybe it’s saying you bought something on sale even though you paid full price, or claiming a new purchase is something you already owned. “Hiding income, large credit card debt and having a secret bank account are bigger common financial secrets,” Archuleta said.

More from Invest in You:

Almost no one has these three things in place for emergencies

Avoid 6 financial mistakes when you teach kids about money

The clock’s ticking, so try these surprising strategies to use up flex spending

These are all forms of financial infidelity, according to a paper in the Journal of Financial Therapy.

Just like slamming a closet door shut on clutter, Priebe says, people can be just as tactical in steering others away from their financial realities. “Common strategies include not talking with partners or spouses [and] not seeking help from a financial advisor,” she said.

Priebe recommends making a list of financial things on your mind.

“Rank it from what you are most likely to talk about with a friend, partner or professional to what you are least likely to discuss,” she said. “What are the most anxiety-provoking things on that list?

“Then, reverse the order,” Priebe added. “That is almost certainly the one that needs the most urgent attention.”


Company: cnbc, Activity: cnbc, Date: 2019-12-10  Authors: jill cornfield
Keywords: news, cnbc, companies, strategies, harm, wealth, likely, things, habits, financial, common, money, probably, drawer, purchase, priebe, good, doing, secret, making, junk


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

After 20 years of hiring, I refuse to look at resumes that have this common yet outdated section

The most impressive resumes concisely and compellingly illustrate one major message: “This is how I made things better for the companies I worked for.” While it might sound harsh, 90% of the time, I refuse to read through resumes that include an objective. No objectives, pleaseVirtually every objective I’ve read has either been too broad or too short, never just right. The second is just too “in your face,” while the last objective sounds overly presumptuous. Gary Burnison CEO, Korn FerryIn gene


The most impressive resumes concisely and compellingly illustrate one major message: “This is how I made things better for the companies I worked for.”
While it might sound harsh, 90% of the time, I refuse to read through resumes that include an objective.
No objectives, pleaseVirtually every objective I’ve read has either been too broad or too short, never just right.
The second is just too “in your face,” while the last objective sounds overly presumptuous.
Gary Burnison CEO, Korn FerryIn gene
After 20 years of hiring, I refuse to look at resumes that have this common yet outdated section Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: gary burnison
Keywords: news, cnbc, companies, say, true, resumes, common, youre, read, prospective, objective, refuse, look, seeking, sounds, hiring, team, outdated


After 20 years of hiring, I refuse to look at resumes that have this common yet outdated section

Over the past 20 years, I’ve reviewed thousands of resumes, and despite the vast amount of information available on how to write one, only a shockingly small amount of people do it well. The most impressive resumes concisely and compellingly illustrate one major message: “This is how I made things better for the companies I worked for.” But the one section that gets in the way of this objective is … well, the “objective” — those few words up at the very top, meant to capture the entirety of a candidate’s career ambitions. Instead, they don’t really say anything at all. It’s highly outdated and unnecessary. And yet, I still get so many resumes that have one. While it might sound harsh, 90% of the time, I refuse to read through resumes that include an objective.

No objectives, please

Virtually every objective I’ve read has either been too broad or too short, never just right. To say that you’re “seeking a challenging team leadership position” might be true, but it still reveals nothing about what you can do for a prospective employer. Here are some extreme examples from the Hall of Shame that illustrate why you need to eliminate the objective: San Jose, Calif.-based cybersecurity professional (working remotely, but willing to travel) seeking a CSO role managing a global team of like-minded, talented professionals.

Senior-level executive looking to be hired as your next CFO.

Looking for an opportunity to make a difference and change the world. The first one is oddly specific and sounds more like a list of demands than genuine interest in the company. The second is just too “in your face,” while the last objective sounds overly presumptuous.

To say that you’re ‘seeking a challenging team leadership position’ might be true, but it still says nothing about what you can do for a prospective employer. Gary Burnison CEO, Korn Ferry

In general, an objective distracts the hiring manager from focusing on what benefits you bring to the table. It can also make you seem pigeonholed and ruin your chances of being considered for other great opportunities and open positions (because the hiring manager will assume they may be too different from your stated objective).

What you need to focus on depends on your experience


Company: cnbc, Activity: cnbc, Date: 2019-12-09  Authors: gary burnison
Keywords: news, cnbc, companies, say, true, resumes, common, youre, read, prospective, objective, refuse, look, seeking, sounds, hiring, team, outdated


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post