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Infographic: 10 Most Asked Money Questions
About Hank Coleman
Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and is currently pursuing his Certified Financial Planner credentials. Email him directly at Hank[at]MoneyQandA.com.
Hank Coleman has written 435 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.
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{ 12 comments… read them below or add one }
Hi Hank, Great job on the infographic! I do however have a problem with the image statement… How much cash should I be holding in my portfolio? Were you fully invested in Sept 2008? Whether your 20 or 30 years of age no one likes an 80% drop in portfolio performance! And if you were Cash in May 2009 you would be sitting pretty now!! Educated Investors make more in the long term!
Yes, I was fully invested in 2008. 100% in stocks except for my emergency fund, and I was continually buying more and more stocks and mutual funds during that time. I’m blessed by having 40+ years until retirement. Also, just to point out, the stock market did not fall 80%. I’m sitting extremely pretty now that I bought all that stock at the bottom of the bear market 2008 & 2009 and all the way through to today’s rise as well. I’ve got a lot of cheap stock then, and I’m glad that I wasn’t flush with cash.
You should also read my original post that the infographic was based off of about young investors holding too much cash. http://moneyqanda.com/young-investors-hold-too-much-cash/
Hank recently posted..Infographic: Money Questions We All Ask
Great tips Hank! How about making that chart into a giant refrigerator magnet?
Paul @ The Frugal Toad recently posted..Managing Your Debts
That is an awesome idea! I will send you the first one, Paul.
Hank recently posted..Infographic: Money Questions We All Ask
I agree. Crisp, concise and to the point. I will say that if your time horizon is one where you are looking to retire “early” (for example, in your 40′s or 50′s) there might be some flexibility needed in a couple of these answers.
BE @ BusyExecutiveMoneyBlog recently posted..3 D’s on financial matters in relationships
Good infographic in its basic form, where do you do that? Lately I have been seeing them around a lot. Also is infographic text searchable?
SB @ One Cent At A Time recently posted..Does Blogging Affect Your Work? I Think So
I read the first item, which advises people to pay MORE interest than necessary to financial institutions (by making debt an emotional “psychological” issue, as the big banks would like, rather than analyzing it rationally like the big banks do) and I stopped reading. Dave Ramsay’s “Debt Snowball” method is a snowjob, plain and simple, and it can be proven with simple math. Apply your cash to your highest interest-rate debt. You’ll have more cash flow and you’ll pay off your debt quicker.
Joe recently posted..Common Cents #2 – TFSAs or RRSPs?
You are absolutely right. You will pay your debt off faster by tackling the debt with the highest interest rate. But, there is something to be said about knocking off a bunch of small “ankle biter” debts fast though.
Hank recently posted..Infographic: Money Questions We All Ask
This is great…. I have to share.
Dannielle @ Odd Cents recently posted..Comment on How To Talk About Money At Home by Brent Pittman
This is great Hank, I’d love to share this, however, I wish there was a way we can enlarge it a little bit.
Kevin @ SpringCoin recently posted..Using Available Credit as a Fallback
I love infographics like these.
As to a couple of the comments above I think everyone’s situation is different and what you do depends on that. Infographs like this are based on averages. Good job on investing in the stock market when it was low. I wanted to but my husband didn’t.
Also the comment about the snowball method, the reason so many promote it is because it has worked for lots and lots of people. Yes, if you are financially smart you would go the highest interest debt first, but many people need the feeling of achievement when knocking off their first small debt to propel them onwards to clear more debt.
Kylie Ofiu recently posted..Buy quality
Awesome infographic Hank! I believe that everyone has a unique financial situation and different methods work for different people, kind of like raising a child. The best thing to do is be informed as possible and determine the best strategy for your particular situation.
Monica recently posted..Where’s the Credit Cards for Fair Credit Consumers?
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