Sometimes the best thing you can do for your investments is to create a plan. Easy for me to say I know. One way that's easy is to get a fresh start. Break bad habits. Start by consolidating with Fidelity, named by Kiplinger as the #1 online broker. Begin by rolling over that 401(k) into an IRA. Here's some of what you get by rolling over. What do you get with a Fidelity Rollover IRA? Help building a plan that keeps up with a changing market and can adapt as your needs change A wide range of investment options, including Fidelity and non-Fidelity funds, plus help choosing them An … [Read more...]
Is Your Wealth Manager Held to this Higher Standard?
If you choose to work with an investment advisor, wealth manager, financial planner, stock broker, retirement specialist, you name it, there really is only one question for you to ask up front. Are they held to a fiduciary standard or a suitability standard for all account types, not just IRAs? At Richard C. Young & Co., Ltd. we're held to the fiduciary standard (sign up for our monthly client letter here, free even for non-clients). The difference between the two are night and day. You would think this topic would be crystal clear. It’s not. Most are held to a lower suitability … [Read more...]
Vanguard: Advice for What Matters to You
"This is the happiest time of my life,” says Paul B. in this excellent video from Vanguard. … [Read more...]
How to Turn $67 Million into a Cool $3.3 Billion
You’ll like this story about Yeti Coolers—a small company founded by two brothers with a great idea. A small private-equity firm is about to get a big payoff from a bet on $400 coolers. If all goes as hoped, Cortec Group, with just 20 employees in Midtown Manhattan, could make a profit on paper of about $3.3 billion in the coming initial public offering of Yeti Holdings Inc., according to people familiar with the matter. The company is seeking a valuation of $5 billion in its IPO, which could come as soon as October, the people said. Cortec bought a roughly two-thirds stake in 2012 for … [Read more...]
Millennials: Home is Where the Heart Is
I've often encouraged Millennials to be entrepreneurial and to take chances in order to build successful lives for themselves (see here, and here). But the Great Recession, and other factors like extended lifespans, are changing how young people, and society, think about living with parents in adulthood. In America, 32% of 18-34 year olds live with a parent. In the EU it's 48.1%! Gone are the days when age 18 struck and you expected to move out of the house. You may think it isn't the best way for young adults to live, but the WSJ writes that it's not only the desire to mooch from Mom and Dad … [Read more...]
Vanguard’s Investment Advice in a Low Yield World
Vanguard 's head of investment strategy and global chief economist Joseph Davis gives some advice to investors in a low yield world, don't be a hero. Bloomberg writes: “The next five years are going to be more challenging than the previous five years in investing,” said Joseph Davis, head of investment strategy and global chief economist at Malvern, Pennsylvania-based Vanguard, which oversees $3.8 trillion. “Be cautious of trying to be heroic in this environment.” Vanguard's global head of fixed income, Gregory Davis, echoes his colleague's sentiments. Given the uncertainty still facing the … [Read more...]
One Blunder That 65% Of Americans Make, And How To Avoid It
About 65% of Americans simply don't know how much money they'll have to live on in their retirement years. Planning is essential to a successful retirement, and according to a new survey by TIAA detailed here by Investor's Business Daily, nearly two-thirds of Americans aren't doing even the basics. When it comes to confidence in their retirement planning, nearly six out of 10 American adults can sleep easily at night. Those 58% of Americans feel good about how much they've saved, according to a new survey by financial services firm TIAA. They believe their savings are on track to generate … [Read more...]
Is Your Money with the #1 Online Broker?
No surprises here as Kiplinger’s names Fidelity as the top online broker thanks to its mix of services, investing products, and retirement-planning tools. If you don’t have an account with Fidelity then you’re missing the boat. Investors looking for the best brokerage firm need look no further, according to Kiplinger’smagazine. The results from the magazine’s annual broker survey are in, and while many firms shined in one category or another, Fidelity claimed the number one spot overall for 2016. This is the fifth time Fidelity has received this award. It previously won in 2007, 2008, 2011 … [Read more...]
Surprise: New Report on Housing Starts Misses Estimates
In August, builders began construction on 1.14 million new homes. The numbers didn't hit consensus estimates made by economists polled by Bloomberg, failing to hit even the lowest estimate of 1.17 million starts. The question is whether or not the miss is a blip, or the beginning of a slowdown in a residential housing market that has been pulsing with activity. … [Read more...]
$25 Million Ain’t What it Used to Be
Barron’s cover story, “Penta Millionaires: The New Rising Class” reports in 2015 there were a record one million households with more than $5 million in investable assets, up 5% from 2014. This should be fun. Let’s guess how much of this new wealth will actually stick. I’m not talking about the Pentas' necessarily. I’m thinking more about the $25 million crowd. Imagine their burn rate—fueling those jets is expensive! What caught my eye is the story of a Mr. Anthony Alves, 54, who sold his New Jersey company, Oasis Foods, putting his net-worth well over $25 million. “It was life-changing,” … [Read more...]
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