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Tag Archives | Financial Advice

Risks of Financial Advice from Family and Friends

Here’s a risk to your financial health that may surprise you: following poor financial advice or buying expensive investments from relatives and friends. There are two reasons for this. First, we tend to trust and rely on people we know. Second, research finds that humans have a deep-seated desire to meet the needs of others, […]

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When Financial Experts Disagree

As discussed in last week’s column, even if you are working with a financial planner, at times you may also need the services of a financial specialist such as an attorney, accountant, or insurance agent. In a situation where the specialist’s advice may seem to conflict with the suggestions of your financial planner, as a […]

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Financial Planning In Your 30’s

For many young adults, the 30’s are the decade when real adulthood takes over. It’s the decade of family. It’s typical at this stage to be parenting young children, getting well-established in careers, and managing responsibilities like buying a home. With a mortgage, daycare, possibly student loan payments, and the boatload of other obligations that […]

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Hidden Costs of Financial Product Sales

What’s wrong with earning a commission from the sale of a financial product? Nothing. It isn’t any more inappropriate than a car salesperson earning a commission when you buy a vehicle. Yet there’s one important difference. When you buy a car the roles are clear. You know going in that the salesperson is there to […]

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Financial Advice Wise Enough for Solomon

As the author of the Old Testament book the Song of Solomon penned many years ago, “There is nothing new under the sun.” Humbling as it is, there is very little financial advice I’ve written about in this column for 25 years that is really proprietary. Many other personal financial advisors and authors intuitively embrace […]

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