In case you missed it, here are three things you should know this week...
1.) Financial Experts Share Best Advice They Ever Got
- There’s no shortage of financial advice out there.
- But what advice has resonated most with the people in the business of doling out financial advice or teaching finance? What advice did they receive that has changed their lives for the better?
- Visit The Wall Street Journal for the complete list of advice experts received that they feel is most important to pass on.
2.) How to Hire a Financial Advisor
- You wouldn't just turn over your savings to someone without at least putting their name into Google first, right? Of course not!
- And with new rules for financial professionals, it's more crucial than ever that investors conduct background checks and read disclosures for conflicts of interest.
- Lisa Beilfuss shares tips on how to do your homework before you hire a financial professional in this Wall Street Journal article.
3.) 10 Rules for Financial Freedom
- The true measure of financial success isn’t how much money you make—it’s how much you keep. That’s a function of how well you’re able to save money, protect it, and invest it over the long term.]
- Sadly, most Americans are lousy at this.
- Even after a decade of steady economic expansion and record-breaking stock markets, almost two-thirds of earners would be hard-pressed to cover an unexpected $1,000 expense—a medical bill, car repair, or busted furnace—and more than 75% don’t save enough or invest skillfully enough to meet modest long-term retirement goals, according to Bankrate.com.
- The good news is that the basics aren't complicated. Advisors are increasingly stepping in to help, trying to fill what they say is a gaping void in the educational curricula and working to boost people's awareness of financial proficiency and literacy.
- From keeping plans simple to systematic saving, you can read up on some of the basic rules for financial freedom in this Barron's article.