Many of you may not have heard of the term behavioral finance biases, but it is hard to find a point where our minds do not get in the way of our money. It happens all the time. We try to kid ourselves that we are rational human beings who make rational decisions, but history and our stock market has proved us wrong time and time again. In fact, we let our emotions take hold of us more often than we would like to admit much to the detriment of our finances. Below are three classic examples of behavioral finance biases and how … [Read more...] about How Behavioral Finance Biases Can Cost You Money
Archives for February 2013
Are you saving enough for retirement? How much is enough? Is there really such a thing as saving enough for retirement? While there are a few rules of thumb that you can look at to find out how much money you need to save in your 401k for retirement, the sad fact of the matter is that we are simply not saving enough for retirement. Click here to learn more about Motif Investing We Are Not Saving Enough For Retirement Earlier this month, Fidelity Investments released its quarterly analysis of the 401k retirement plans that it manages. The … [Read more...] about
Determining when should you hire an accountant can be a hard decision to make. I know that I put off hiring an accountant. I thought that I could continue to do all of the work myself. I soon found out that I was missing the skills and time needed to do the job right. Hiring an accountant or a tax professional can be a tough decision because chances are you are like me and have been doing your own taxes for quite a long time. However, hiring a professional can make a lot of sense in certain situations. The money they save you in taxes could … [Read more...] about When Should You Hire an Accountant to Help You with Your Income Taxes
Have you ever lost your wallet? Of course, it can be a traumatic event in anyone's life. But, there are steps you can take right now to help you before you lose your wallet. I can remember when my wife lost her's at Walt Disney World of all places. She was lucky and someone had turned it into guest services. I'm probably going to jinx myself when I say this, but I have never lost my wallet...not once. But, as most people can attest to, it may just be a matter of time. According to a report from CNN, less than 20% of all wallets that are … [Read more...] about What To Do Right Now Before You Lose Your Wallet
In the high-pressure, high stakes world of the pensions industry, scheme management is never an easy job. Pension scheme trustees face administrative and legal pressures, along with an obligation to act with honesty, transparency and complete impartiality in all their dealings with the trust agreement. Before trustees can assume their roles, they must be conversant in the details of the scheme they are charged with governing - and any relevant legal or administrative demands. While some trustees will have years of financial experience to … [Read more...] about Top Tips For New Trustees
Distracted driving is 100% preventable. At the core of the issue is texting while driving. Distracted driving killed 3,092 people nationwide and injured approximately 416,000 in 2010. America is addicted to texting while driving. To stop texting and driving is proving to be a hard habit to break. But, there are ways that you can work to break your texting while driving habit. As you drive, consider when you become bored behind the wheel and inattentive. Try to take notice when you pick up the phone to start texting, surfing the web, or … [Read more...] about Top 10 Ways to Break Your Texting While Driving Habit
When I was growing up, my mother and I liked to collect Christmas ornaments. We had entire series of certain ornamants, and we had to continue the collect of course. We found that one of the best ways to save money shopping was to go to the day after Christmas sale where most ornament stores marked their wares half off. There was one problem with this plan of course. We were not the only collectors on the prowl by a long shot. There was always a line waiting to get into the store. After years of practice, my mom and I had developed quite … [Read more...] about How My Mom Scared Me For Life From Mall Shopping
Do we really care about the dangers of texting while driving? Drivers and the insurance industry have to take a hard stance on texting while driving. Do we as a society really care about texting while driving? Or, do we simply pay lip service to the dangers? I am of the belief that Americans look the other way and really do not care about people who are texting while driving. Despite it being illegal in 38 states across America, we have done little to nothing to stop the rising trend. A survey released by State Farm in November 2012 found … [Read more...] about Do We Really Care About Texting While Driving? How To Implement Real Social Change!
What Is Commercial General Liability Insurance? Commercial general liability insurance, which is also known as CGL, is a business insurance policy that covers services of the injured and compensates for most negligence that occurs according to a law or contract. Commercial general liability insurance typically provides liability coverage for a loss or a bodily injury that occurs while the policy is in place for a set period of time. The commercial general liability insurance can be written either to cover the business for a set period of time … [Read more...] about What Is Commercial General Liability Insurance?