With college tuition prices still on the rise and the economy in shambles, how does an average family meet college costs? The answer is they save early and often! Remember when a college education was reasonably priced? Those days are gone, and that’s why college planning is so important. Between 2001 and 2006, the average tuition and fees at four-year public colleges and universities increased by 35%. The average tuition for private colleges increased 32% between 1996 and 2006 (according to the College Board).
How soon is too soon?
It is never too soon to begin saving for your child’s education. Many parents start as soon as a child is born. Some parents begin planning before children arrive. If you’re planning on having a family “someday”, start planning now. If you have a child on the way, start now. If you have an infant, toddler, grade-schooler or teenager, start now. Notice a theme here? Read More »
Signs point to a rebound
As this recession emerged, many economists felt that it would only fade away when the sector where it all began healed itself. It was in late 2006 when the U.S. real estate bubble began to pop, setting off a chain reaction of shocks that hurt homeowners, lenders, and the entire U.S. economy.
Three years later, we have new hope in the real estate sector – and the numbers to support it.
Existing home sales rose 7.2% in July
This was not only the largest monthly gain ever recorded, but the fourth consecutive monthly gain. As the National Association of Realtors noted, the last time residential resales increased for four straight months was in June 2004. Additionally, the number of existing home sales in July 2009 was greater than a year earlier – and that hasn’t happened since November 2005. Read More »
Win or Perish?
There is a Viking legend backed up by actual historical data, that long ago, a great warrior faced a situation where surrendering in battle was not an option. Yet he and his armies faced a very powerful foe. They were significantly outnumbered and “had no chance”. After sailing to the enemy’s country, the warrior chief unloaded his soldiers and equipment, and then had every one of their ships burned to ashes. Addressing his men before the battle, he is reported to have said, “Do you see our boats going up in smoke? There is no retreat. We win – or we perish!” Legend has it that each soldier fought harder than he ever had before in his life, and they won against great odds. Read More »
The VALUE OF A FEE-BASED ADVISOR
A shared goal, a stronger relationship
Why are more and more financial advisors fee-based?
It comes down to philosophy. Advisors are increasingly choosing a business model that promotes a trusted, ongoing relationship with a client, rather than just a sale.
Would you rather meet with an advisor, or a salesman?
A fee-based advisor has every motivation to be your financial consultant and help you manage the investments you have chosen. Does a transaction-based advisor have similar motivation?
The transaction-based business model is built on selling you a product. When a client buys an investment, the broker gets paid a commission upfront. So this model inherently encourages an investment broker to hunt down the next sale. What if you don’t buy any more investment products? Will the broker still stick around and financially consult you for years to come? Maybe – but that’s not what the business model is about. Read More »
Does an emergency fund show a lack of faith?
“A prudent person foresees danger and takes precautions. The simpleton goes blindly on and suffers the consequences.” – Proverbs 27:12 (NLT)
Christians are not exempt from trials and struggles in life and should be prepared in advance for both feasts and famines – the good and bad times. As wise stewards entrusted with all that God provides, we should seek to plan ahead but not plan so much as to insulate ourselves from Him. There is a fine balance between saving for emergencies and saving to shelter ourselves from every possible emergency. Even in tough economic times, savings should be a part of nearly every budget. Read More »
Do you play the blame game?
Why are people so quick to blame others or circumstances for their problems? Often I see people who are quick to point the finger and it rarely points back at them. Choices are made each day, and these choices have consequences. When the results come in less than favorable, somehow it is easier to push the blame toward someone or something else. This is especially true with finances.
One example: Most Americans used to be able to rely on three income sources for retirement: the company pension, Social Security, and personal savings. As the futures of company pensions and Social Security hang in the balance, the pressure builds for you to save on your own for retirement. If you do not have enough income when you retire, whom will you blame: your employer, the government, or will you accept responsibility? Read More »
Jacob’s Dream
This week I was reminded of Jacob’s Dream found in Genesis 28. “When he reached a certain place, he stopped for the night because the sun had set. Taking one of the stones there, he put it under his head and lay down to sleep. He had a dream in which he saw a stairway resting on the earth, with its top reaching to heaven, and the angels of God were ascending and descending on it. There above it stood the Lord, and he said: “I am the Lord, the God of your father Abraham and the God of Isaac. I will give you and your descendants the land on which you are lying.”
As I reflected on this passage I was reminded God is always with us. He always keeps His promises and will remind us. We have the choice to make a promise to serve and love God in all that we do – finances included. God is the owner of everything and we can either honor him or not when it comes to where and how we handle the money He entrusts to us. Read More »
