If you search the internet in order to determine how many hours of dedication are required to study for the CFP® exam, you will likely encounter bewilderment rather than clarity. Time estimates range from 200 hours of study to well over 1,000 hours. There are countless stories about candidates studying for a year and a half and failing, as well…
Leonard Lauder, son of Estée Lauder, donated 78 cubist paintings to the Metropolitan Museum of Art. Thirty-three of them were by Picasso. Art expert William Acquavella described the donation as “without doubt the most important collection any private person has put together in many, many years. It is fabulous and worth a billion dollars, easily.” [source: Economist] How did Mr.…
Alvin Kamara’s got his priorities straight. pic.twitter.com/9jeFLrJvqb — NFL on ESPN (@ESPNNFL) January 4, 2018 “I got my signing bonus and I put that s— in the bank and I went and got some m—–f—ing wings.” The above quote, from rookie running back Alvin Kamara, went viral on social media yesterday after being posted by The MMQB. Kamara went on…
One advantage of “step-up callable CDs” is they generally pay a higher interest rate than traditional bank CDs, which is appealing to fixed income investors. However, these products come with a wide set of unique risks. A Certificate of Deposit (CD) is a financial product commonly sold by banks that is popular among conservative investors because the deposit is protected…
After years of dutiful payments, you find yourself in the enviable position of having enough accumulated savings or discretionary income that you could aggressively pay down—or completely pay off—your mortgage. But should you? Are there better ways to ensure your financial security? Making the best choice for you Paying down your mortgage faster—or paying it off in a lump sum—seems…
Professionals (doctors, dentists, lawyers, etc.) may have very high wages, but the earnings come after years of school, training, buying into a practice, and paying down student debt. Because of these factors, professionals often are unable to make meaningful retirement contributions until the middle or later parts of their careers. Professionals, who are owners in a practice, can make up…
Roughly seven years ago, Laszlo Hanyecz made a proposition on an Internet forum. Hanyecz was looking for someone to send him some pizza, so he could cure his hunger pangs. In return, he offered up 10,000 units of a little-known currency called bitcoin. Hanyecz ended up getting two Papa John’s pizzas for his bitcoin payment (which at the time was…
Thousands of homeowners in Florida suffered hurricane damage this year, and many were surprised to learn their homeowner’s insurance policy contains a separate “hurricane deductible” that shifts responsibility for thousands of dollars’ worth of repairs to the homeowner. For those fortunate enough to not have had enough damage to file a claim, now would be an excellent time to review…
I have previously written that home builders and contractors need to keep more money in emergency savings than most professionals do. Several realtors and real estate agents have since contacted me to point out that they also have to keep extra money in emergency savings due to seasonal and cyclical sales fluctuations. They are absolutely correct. Financial planning professionals have…
Between a doctor and a school teacher, who would you expect to have more income left over for savings at the end of each month? In an alarming number of cases, they both have the same amount of money remaining: zero. Many individuals fall into a trap where, no matter how much their income increases, they never save a meaningful…