Archive - July 2009

1
How This Couple Bought Their First Home
2
Financial Planning Yields a Sense of Direction
3
What Should I Be Asking My Mortgage Broker?
4
How to Buy Gold (Part II)?
5
Don’t leave your old 401(k) on autopilot when you change jobs

How This Couple Bought Their First Home

“I really admire the conscientious way you bought your first house,” said I. “That’s because we’re really cheap!” said they, almost in unison. Meet Jim and Annette. They’re in their late 30’s and lucky. They both watch their pennies. If only all my clients would…well, never mind.Jim and Annette in front of their new home

While many of Jim’s and Annette’s friends bought houses in the last few years, they held back. The market was too frothy and unaffordable, they thought. At the time, life was a cramped one bedroom apartment in North Berkeley. But of course things change. Soon enough real estate prices crashed, and taking the …

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Financial Planning Yields a Sense of Direction

A recent survey finds that households that have put into place a comprehensive financial plan tend to experience greater confidence during times of market uncertainty than those that don’t. These households also are more likely to be actively pursuing behavior that enhances the likelihood of financial success.

The Financial Planning Association (FPA) recently held its national meeting in Boston and released the results of a study that it conducted on the financial attitudes and behaviors of about 3,000 adults who have more than $50,000 in either annual income or investable assets.

Survey respondents were divided into three categories:

1.) “…

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What Should I Be Asking My Mortgage Broker?

There has been a big upsurge in refinancing of late, so a lot of people are contacting new mortgage brokers to determine how they can get the best rates.  I recommend calling at least 4 or 5 new brokers to give you a good basis of comparison.  Even if you have a current broker relationship, it is important to ask the right questions when you begin the process.  Here are the right questions you should be asking your mortgage broker:

1.How many refinances did you close in the last year? I’m not looking for exact statistics, and I wouldn’t disqualify …

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How to Buy Gold (Part II)?

If you decide to buy gold as a hedge against inflation there are several options. One can invest in gold through mutual funds, exchange traded funds (ETF), gold bullion, gold coins, gold mining stock and gold futures. In selecting an investment vehicle keep in mind your reason for purchasing gold – it’s a doomsday investment. If the entire financial world is crumbling around you, your gold needs to be secure. If you buy gold, consider investment in gold coins. Some options include the American Eagle, the Vienna Philharmonic or the Canadian Maple Leaf. With gold coins you have possession, they

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Don’t leave your old 401(k) on autopilot when you change jobs

photo by: mertesb

photo by: mertesb

A recent analysis by Charles Schwab found that 43% of the 401(k) assets held by workers who left their jobs in the first quarter of 2008 still remains in the old plans. Leaving your assets on autopilot in your old employer’s plan may not be the smart thing to do.

Assets left in an old employer’s 401(k) plan are at risk of becoming “out of sight, out of mind”. If you neglect those assets, your overall asset allocation could become out of balance.

Get educated on your options, which typically include a rollover to an IRA, move …

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