Setting realistic financial goals is what separates the successful from the unsuccessful. Goals are good for every area of life, but setting financial goals specifically is important. The process of setting goals is just as important as having them, so let's look at what it takes to set realistic and effective financial goals. Determine Your Goals Just like with any goal, a … [Read more...] about How to Set Realistic Financial Goals
An ETF (Exchange-Traded Fund) is a fairly new invention and they are getting very popular. An ETF is similar to an index fund. It tracks a particular index like an index fund, but it is traded like a stock. This means that an ETF has a ticker symbol and you can buy it by the share. Exchange Traded Funds can also track commodities such as gold and silver. This is a great way … [Read more...] about What is an ETF?
A bond is a form of investment. Simply put, a bond is debt. When you buy a bond you are basically offering a loan to a company or government, and the entity that you borrow from is then in debt to you; unlike a stock where you own a share (or a piece) of a company, with a bond you are just loaning the money for a certain amount of time. Note: This article is for the … [Read more...] about What is a Bond?
Once you have paid off your debt (with the exception of your mortgage), you are ready to start seriously investing. The only exception for investing before you are debt free is retirement. It's never too early to start investing some amount into a retirement account, whether it be through your work's plan or on your own plan. Retirement should be an automatic amount … [Read more...] about INVEST – Let Your Money Work for You
A mutual fund is like a bucket full of multiple different stocks, bonds, securities or a combination that you invest in collectively. When you buy into a mutual fund, you are buying into all of the securities in the fund by making one single investment. It is a great way for instant diversification. Types of Mutual Funds There are stock funds, sector funds, passively-managed, … [Read more...] about What is a Mutual Fund?