Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper
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You invest so that you can achieve a variety of goals, such as a secure retirement. It’s inevitable, though, that you will incur some costs when investing, ranging from payments to a financial professional to costs of educational materials. So it’s a good idea to familiarize yourself with these expenses. If you work with a financial professional – and you should, because the investment world is complex – you will need to compensate this individual for his or her expertise and guidance. Financial advisors get paid in different ways, includi...
We’re just a few weeks away from the first caucuses and primaries, so presidential election season is in full swing. As a voter, you may be keenly interested in the election process. But as an investor, should you be concerned? If you take a look back, you might be somewhat encouraged over the prospects of the financial markets this year. In the last 12 presidential election years, the Dow Jones Industrial Average has been up nine times and down just three. So, election years must be good for the financial markets, right? Not necessarily. In e...
The late, great Yogi Berra supposedly said it: “The future ain’t what it used to be.” And the same could be said of retirement. Due to several factors, such as advances in health care, today’s retirees are living longer, more active lives than their predecessors. In fact, you could spend two, or even three, decades in retirement – which means you need a “longevity strategy.” Such a strategy needs to be part of your overall retirement income strategy, but here are five key areas you’ll need to address: • Lifestyle – What do you plan to do duri...
There’s a lot to know about investing, so it’s a good idea to get some professional help. But with so many financial advisors out there, how can you choose one that’s right for you? You may have to interview several prospective financial advisors before deciding on one. When you talk to them, see if you can get a sense of how they might work with you. Specifically, try to answer the following questions: Does this financial advisor … … Understand you? Perhaps above all else, you want a financial advisor who will take the time to get to know y...
During this holiday season, you’ll likely be spending money, in various amounts and in various ways. And you can use this experience to teach your children about money management. Here are a few ideas for doing just that: • Stick to a budget. Tell your children you’ve set aside a certain amount of money for gifts and holiday events, such as hosting parties, and that you won’t exceed it. And if you have saved money throughout the year in a special holiday fund, let your kids know about that, too. This information should help impress upon th...
Who knows where the time goes? Although 2015 is almost in the books, you can still make some year-end investment and financial moves that may help you get off to a good start in 2016. Here are a few suggestions: • Boost your 401(k) contributions. Ask your employer if you still have time to add more to your 401(k) before the year ends. If not, at least increase your contributions in 2016, especially if your salary goes up. • Consider “tax-loss” selling. We experienced considerable turbulence in the financial markets this past year, so you may...
It’s certainly the season for giving – and when you make charitable gifts, you can both give and receive. To get the most out of your gifts, your first step is to make sure you are giving to a worthy charity. That means you’ll need to ask some questions. How does a group measure its effectiveness? And does it use its money wisely? Is it devoting as much of its contributions as possible to the actual work of the organization, or is it spending too much money on administrative costs? Generally, a worthwhile charity should spend at least 75 perce...
When will the Federal Reserve raise interest rates? This question has been on the minds of economists and financial market prognosticators for quite some time now. But what does it mean to you, as an individual investor? First of all, it’s important to understand just what is meant by “raising rates.” The Federal Reserve, or the “Fed,” directly controls short-term interest rates, although, through various measures, it can also affect long-term rates. Typically, the Fed will lower short-term rates to stimulate the economy. Conversely, the Fed w...
Thanksgiving is just around the corner. And like all holidays, this one has plenty of traditions, such as Macy’s Thanksgiving Day Parade (started in 1924) and football (the first broadcast Thanksgiving Day game was played between the Detroit Lions and the Chicago Bears in 1934). Traditions are important, and you may want to establish some in one of the key activities of your own life: investing. So, what sort of investment traditions could you start? Here are a few ideas: • Invest regularly. By definition, engaging in a tradition means per...
You may be quite willing to plan an investment strategy for your retirement years. After all, it can be enjoyable to think about traveling the world, pursuing your hobbies or participating in any of the activities you’ve associated with an active retirement. However, once you do retire, you’ll need to “shift gears” somewhat to focus on your legacy. Specifically, to protect your loved ones and ensure your intentions are clear and carried out, you’ll need to do some more planning – and you’ll need to share your thoughts with your family. Here...
November is National Adoption Awareness Month. If you’re considering adoption, you know that it will change your life in many ways. And you’ll need to prepare for many of these changes – including the financial ones, because adoption can be expensive. The average U.S. adoption costs between $8,000 and $40,000, while the range for international adoptions is $15,000 to $30,000, according to the Child Welfare Information Gateway, a U.S. government-funded adoption information service. Given these numbers, you might think you’ll have a tough t...
In just a few days, witches, zombies and vampires will be converging on your house, asking for candy. As is the case every Halloween, you’ll likely be merely amused over the sight of these costumed characters. But in other areas of life, such as the investment world, you may need to watch out for some seemingly scary entities. Here are a few of them: •The Horrendous Headline – Big, glaring headlines rarely offer any comfort to investors. Whether it’s political squabbles at home, conflicts in the Middle East or the debt crisis in the eurozon...
Now that we’re well into autumn, the days are getting noticeably shorter. The change in seasons reminds us that time is passing – and it’s important to use that time wisely. When used well, in fact, time can be your greatest gift in many walks of life – and that’s certainly true when you invest. To illustrate the importance of time, let’s look at a scenario. Suppose you start saving for retirement when you are 25. If you invest $3,000 per year in a tax-deferred vehicle, such as a traditional IRA, and you hypothetically earn a 7% annual retu...
National Save for Retirement Week is observed Oct. 18 – 24 this year. And this week has some weight behind it, as it is recognized by the U.S. Senate for its importance in encouraging Americans to prepare themselves financially for retirement. Are you doing all you can? Many of your peers aren’t. About a third of working adults have no retirement savings or pension, according to a survey by the Federal Reserve. And more than half of workers report that the total value of their household’s savings and investments, excluding the value of their...
What’s the biggest obstacle to your ability to invest successfully? Is it the ups and downs of the financial markets? Political events? The fact that you weren’t born rich? Actually, the chief hurdle you face is something over which you have control: your own emotions. Your emotions can lead to a variety of ill-advised investment behaviors, such as these: • Cutting losses – Declines in the financial markets can lead some investors to try to “cut their losses” by selling investments whose price has declined. Yet, when prices have dropped, it...
If you work for a fairly sizable company, you may be entering your open enrollment season, when you can add or adjust your employer-sponsored benefits. While you probably should review all your benefits, you may want to pay special attention to your life insurance to determine if you and your family are adequately protected. How much life insurance do you need? You may hear that you require anywhere from seven to 10 times your annual income in life insurance coverage, but this rule of thumb might not be appropriate for everyone; the amount of i...
We’re getting close to Labor Day, a celebration of the men and women who roll up their sleeves and go to work each day. If you’re in the workforce yourself, you can appreciate this recognition of your efforts. And as an investor, you can employ these attributes of the American worker: Organization – The most productive workers are those who organize their time and efforts to maximize their productivity. When you invest, organization is also important. You might have trouble gaining traction toward your goals, such as a comfortable retir...
Many people look for the “secrets” to investment success. Is it timing the market just right? Is it finding those hot stocks or getting in on the “ground floor” of the next big thing? Actually, these types of moves have little relevance to the vast majority of investors — even the most successful ones. So let’s take a look at some steps you can take that can be effective in helping you work toward your financial goals. • It’s time in the market…not market timing. Some investors think they can succeed at “market timing” — buying when the pri...
Summer is almost over, which means it’s “back-to-school” time. If you have young children, you may be purchasing backpacks, pencils, notebooks and similar items. But one day, you could be shopping for colleges — and when you do, you’ll find the bill is a little bit higher than the one you get from your local school-supply store. That’s why it’s never too soon to start saving. Just how costly is college? For the 2014–2015 school year, the average expense — tuition, fees, room and board — was $18,943 at a public four-year school and $42,419...
You might not think much about inflation. After all, it’s been quite low for the past several years. Still, you may want to take it into account when you’re planning your retirement income strategy. Of course, no one can really predict the future course of inflation. But it’s a pretty safe bet it won’t disappear altogether — and even a mild inflation rate, over time, can strongly erode your purchasing power. Consider this: If you were to purchase an item today for $100, that same item, in 25 years, would cost you $209, assuming an annual in...
August is What Will Be Your Legacy Month. If you knew this, you have an unusual knowledge of obscure celebrations. But even if you weren’t aware of this “month,” you can see that the idea behind it — the importance of leaving a legacy — is an important one. What should you do to help ensure you’ll leave the type of legacy you desire? To begin with, identify those people whom you’d like to directly benefit from your legacy. What can you leave behind to your children, grandchildren, other family members or even close friends? Then, think about t...
You don’t have to be a CEO or multimillionaire to benefit from a trust. In fact, many people gain advantages from establishing one – so it may be useful to learn something about this common estate-planning tool. Why would you want a trust? For one thing, if you have highly specific wishes on how and when you want your estate to be distributed among your heirs, then a trust could be appropriate. Also, you might be interested in setting up a trust if you’d like to avoid the sometimes time-consuming, usually expensive and always public proce...
What’s your most valuable asset? While you are still working, this asset may actually be your future income — so you need to protect it. And you can do so by maintaining adequate life insurance, which can help provide your family with the financial resources necessary to meet critical expenses — such as mortgage payments, college tuition, and so on — should you pass away prematurely. But what type of insurance should you purchase? There’s no one “right” answer for everyone, but by knowing some of the basics of different polices and how they...
It’s that time of year when many of us hit the road for a summer vacation. If you are fortunate, you will be joining them — after all, “all work and no play” is a difficult way to live. But while you may not think it beneficial to work all the time, the same can’t be said of your investments and your investment strategy — because, ideally, they should never stop laboring on your behalf. How can you avoid “taking a vacation” as an investor? Here are a few ideas: • Don’t let your portfolio get “lazy.” Laziness is fine for vacations, but it’s not...
It’s almost the Fourth of July — time for fireworks, picnics and a reflection on all the liberties we possess in this country. But if you’re going to enjoy the freedom to do the things you want, especially during your retirement years, you’ll want to take the steps necessary to achieve your own “Financial Independence Day.” Here are a few suggestions for helping you reach that goal: • Liberate yourself from debt. For most of us, a certain amount of debt is unavoidable. But the greater control you can gain over your debts, the better off yo...
