With this unstable economy it is hard to predict and invest using the old “buy low, sell high” adage. In times like these it may just be wisest to invest in some dollar cost averaging to ensure a stable increase in value over your long term investment. Investing with IRA or employer-sponsored savings plan is not the way to quick riches but it can virtually guarantee a slow and steady growth of your money until it is time to retire and cash out those assets. Dollar cost averaging is based on continuous investment in securities even when prices are unstable.
Money markets have been around for a long time but until recently the rewards haven’t been that great. For many years they were seen as temporary investment vehicles while waiting for more profitable investment opportunities to come around. Now that returns have jumped close to 3% over the last few years money market mutual funds are becoming a desirable investment themselves. Investing in money market mutual funds means that your money is diversified over CDs, U.S. Treasury securities and debt-obligations. These are generally seen as safe investments with lower but solid return.
Paying for car insurance is a drag but these tips can save you money and big hassles. If you get a good car insurance plan then you can save money on car rental insurance since it will be include. If you rent often make sure you have this in your plan. Try not to lend your car out since any accident your friends will have will only affect your insurance not theirs. Another factor in car insurance is your credit score, if you have good credit your rates can be lowered. Where you live is considered by insurance companies since city dwellers often crash more than country folk.
Planning your estate to leave your legacy is one of life’s hardest and most important processes. One has to make sure their mark on this world is made properly and the way they see fit. This includes making sure your finances are in order and distribution of your assets is made the way you want. It is no easy task and enlisting the help of a estate planning professional is advisable. They can guide you through the process and make sure that when you leave this world you will be remembered the way you want to be.
Getting your kids or grand kids into college is always a big burden for most families. In times like these it is difficult to save for retirement and education at the same time but it is not impossible. One popular way to go about it is to take funds from your IRA account and use it to pay for the school tuition. It seems easy enough to do but it seems it is not the best idea. It is more of a last solution than the optimal one. The consensus is that can handicap you in the long run since asking away from future retirement savings and you’re reducing the amount of earning power you previously held.
