SavvySugar

Who Is Your Mainstream Finance Guru?

SavvySugar — Mon, 16 Mar 2009 07:15:27 -0700

When it comes to financial advice I primarily rely on my own common sense and experience, a select group of trusted websites, news sources, experts and finance books. It's rare I have time to tune in to TV host and financial advisor Suze Orman or markets commentator Jim Cramer, but both have a mass of loyal followers. Who do you consider your mainstream finance guru?
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Download a Free Copy of Suze Orman's 2009 Action Plan

SavvySugar — Fri, 09 Jan 2009 13:30:27 -0800

Suze Orman and Oprah have teamed up to provide complimentary financial advice for anyone who wants it, in the form of Suze's latest book, Suze Orman's 2009 Action Plan. You'll find it ready to download on Oprah.com through Jan. 15.

When she was on Oprah, Suze said, "This is the year that will make you or break you," and claims that her book "sets up a foundation to deal with everything that happened last year."

Will You Hit These Money Milestones by the Time You're 30?

SavvySugar — Fri, 10 Oct 2008 12:30:52 -0700

Turning 30 can be a dreadful birthday for some reluctant 20-somethings, but no matter how full of dread you may be there's a way to gracefully enter the next decade in regard to money management. In order to set you up for smooth sailing, MSN Money created a list of six money milestones to reach by the time you're 30. Do you think these milestones are appropriate for most people in their twenties? Is there anything you'd add or remove?

Scale back the credit cards. If you aren't able to live on your earnings and are still taking on credit card debt when you're 30, it's going to be difficult for you to save enough for retirement.
Own a home, or have a plan. One expert says that homeownership should be a priority, and to start saving for a down payment.
Have skills. Develop a set of marketable skills by the time you are 30 and try to bring something new to the table.
Give money away. Financial advisor Scott Hanson says, "I think it's financially healthy to give."
Know thyself. Decide what's important to you. Hanson explains, "Start to know yourself and build parameters so your life and money line up with those parameters."
Know smart people. When you need advice, turning someone who's good at their job can save you money in the long run, whether it's a tax preparer, financial adviser, attorney, or insurance agent.

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One Work Perk That Has Your Future in Mind

SavvySugar — Wed, 17 Sep 2008 12:30:20 -0700

Employer-provided napping pods are great and all, but there's one new work perk gaining popularity that would help employees more than providing a place to rest. A handful of large employers including IBM and Pepsi have arranged for their employees to have access to one-on-one counseling sessions with financial planners. Some mid and small size firms are following suit: Even though the benefit is costly for employers, they believe it will help keep their workforces happy by reducing a big stress in their lives.

IBM's Money Smart program is a built-in benefit, meaning employees have free access to monthly sessions with financial planners that focus on planning for retirement and rebalancing retirement portfolios. The personalized service is extended to employees' spouses, too. This type of customized financial education would certainly beat the traditional here's-your-brochure-and-go type of introduction to employer provided retirement plans. Would you benefit from the guidance of a financial planner?

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News to Me: Financial Advice Turned Religious

SavvySugar — Fri, 25 Jan 2008 10:54:44 -0800

If you've so much as glanced at the news lately you'd know the economy has been going through rocky times. Some people are seeking financial advice from their church to hold their hands through the tumultuous market ride, and I just learned that thousands of churches around the world have added teaching the gospel of money to their repertoire.

Participants in such church groups say that the bible is packed with information on handling finances and for some it has helped lift the "spiritual burden" of being in debt. A proponent mentioned saving aggressively and giving 10 percent of your income to the church as basic fundamentals found in the bible. Critics say that the bible is being trivialized by these "finance ministers."

What do I say? Whatever gets people through troubled times, more power to you, but when it comes to handling money I'm wary of the emphasis on giving so much to the church. We should try to give what we can to charities of our choice, but it just makes me uncomfortable that giving 10 percent is mentioned as part of an overall financial plan. What do you say?

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Free Professional Financial Advice Today!

SavvySugar — Tue, 15 Jan 2008 09:24:49 -0800

Kiplinger’s Personal Finance and the National Association of Personal Finance Advisors (NAPFA) are teaming up to provide complimentary retirement planning advice from typically fee-only professional advisors. They're calling the service “Jump-Start Your Retirement Plan Days," and the applicable days are today (January 15) and January 25. Here's what NAPFA has to say about it:

Just dial 1-888-919-2345 on these dates and a NAPFA member will respond to your questions. Or if you prefer, you may go to Kiplinger's website to submit your questions.
There is no charge for this service-not even the phone call. To make the most of your financial checkup, please gather together any relevant documents that you need-such as mutual fund statements or your 401(k) choices before the call. If your questions are too complex to be answered on the spot, you may be directed to the NAPFA “Find an Advisor” search to locate a NAPFA-Registered Financial Advisor in your area.
Our retirement hotline is a public service that is offered to all, not just Kiplinger’s subscribers. “Volunteer advisers from across the country are prepared to help as many people as possible,” says NAPFA CEO Ellen Turf. “It is incredibly satisfying for them to have such a positive impact on so many lives.”

It's free, so if you have lingering questions about retirement it can't hurt to give the service a try.

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Have You Ever Been to a Financial Advisor?

SavvySugar — Sat, 11 Oct 2008 11:00:43 -0700

The sinking Dow Jones Industrial Average has everyone in a fluster, which means more and more investors are looking for guidance from their financial advisers.

Have you ever been to a financial adviser to help you manage your portfolio or make sense of your financial goals and plans?

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