Welcome to Fast and Finance! This podcast is designed for everyday, normal people just looking to improve their personal wealth management and expand their knowledge on the markets. We'll cover all the basic concepts so you have a strong base knowledge before we dive into anything more specific. Wealth management is a concept that is overlooked in many school systems, and we're here to change that! Please send us your questions to: email@example.com - Securities offered through LPL Financial, a member FINRA/SIPC. https://www.finra.org/ - https://www.sipc.org/ Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and SGI Wealth Management are separate entities from LPL Financial. https://www.sgiwealth.com/
On this new season of Fast & Finance, we are kicking things off by welcoming guest Dennis Feriozzi as he walks us through the basics of getting a mortgage to buy a house, and what to expect during the process!
So, getting right to the point here, a 401(k) is a retirement savings/investing plan that your employer can offer. Different than a typical savings account, the money contributed to the account is being invested, while also maintaining a tax-deferred status.
"If the U.S. economy enters a recession, the causes and potential outcome will be hotly debated. At LPL Research, our starting point is always looking at history. This week’s commentary will remind us of three things we know about historical recessions."
It can be difficult to pinpoint what your financial priorities are. Of course, there are going to be the “right” priorities and the “wrong” priorities. It’s important to know what you are working towards and set goals for yourself before figuring out a plan to get there. Setting goals and priorities will get you familiar with your situation, so you know what to expect and what you must change for the better.
There are numerous factors that come into play when we say, “get comfortable with your finances.” Finances can be a stressful topic for a large majority of people, whether it’s lack of financial education or maybe they just need some assistance. Let’s be honest, there are a lot more topics that people would rather speak about. Before taking any steps into trying to resolve your financial worries, you need to pay close attention to ...
So, you guys have heard me say this numerous times now by this point, but that’s okay because it’s the simplest way to explain diversification; Don’t put all your eggs in one basket. If you have eggs in multiple baskets, you won’t break all of them. To explain it in a more formal way, it’s the process of allocating your portfolio’s investments in such a way that reduces your exposure to different kinds of risk.
I wanted to dedicate this whole episode to explaining dollar cost averaging and why we do it. But before diving into that, I want to talk about a concept that has been around for a long time. The concept is “timing the stock market.” – something that nobody can do. None of us know what will happen in the market for sure, as it is all a form of speculation.
I’ve been getting this question a lot over the past few months, and reasonably so; What really is a recession? Well, in simple words... growth stops, and economic activity starts to decline. Especially after a period of unsustainable growth. And for a lot of people, this is a scary time. News headlines, articles, and especially following a period of inflation... people are left wondering what to do with their finances. But this doe...
The business cycle is just a termed used to describe the increase and decrease pattern in economic activity over time. And by economic activity, I mean all activities that produce, trade, and consume goods/services within the U.S. So, this can include businesses, employees, and consumers. So, the total amount of productivity within these areas is what the business cycle is referring to.
I have gotten a lot of questions regarding inflation lately, and so I figured it was most appropriate to break inflation down given the environment of our economy right now. Everyone knows that things are more expensive right now, from gas prices to grocery prices. Simply put, inflation is the rate at which the price of goods and services increases, affecting the overall cost of living in a country. In the end, the dollar as we kno...
When it comes to developing a budget, it’s all about doing some simple things to help build momentum. Let’s look at four easy ways you can get moving on your budget and gain some confidence right off the bat.
For many people, the idea of budgeting can be challenging. Days are taken up with work, friends, family and the energy and activities required just to manage your life. There never seems to be enough time to focus on finances. However, budgeting is really the foundation of everything in our financial lives. Developing a budget can do more than track your spending and savings. It can help you work toward your financial goals. The fo...
Indifferent to mutual funds, ETFs have intraday price movement, meaning that they are issuing and redeeming shares on an ongoing basis throughout the day, whereas mutual funds are only priced one time a day if you recall from our mutual fund episode. This ability that an ETF has to issue and redeem shares like this, helps keep the price of ETFs on par with their underlying securities.
I’ve briefly touched on mutual funds in prior episodes when speaking on diversification and not keeping your eggs all in one basket... and mutual funds are a perfect place to get started with that concept. In short, a mutual fund is a company that pools money from numerous investors and places all the funds in varying securities such as stocks, bonds, as well as some other securities that we’ll eventually get to.
In our episode of debt, we had briefly touched on the definition of bonds and their creditworthiness. Just to go over it again and in laymen’s terms – a bond is simply a loan to a company or even the government, in which the investor will receive a fixed rate of return on that loan. So, in essence, bonds work by paying the “coupon rate,” which is that fixed interest payment that we talked about.
We’re going to start off basic and move our way into the specifics here. For the people who don’t know anything about stocks, that’s completely fine, we have you covered. When explaining the basics to people, I like to start from the very forefront; what is a stock, and where do you get one?
When investing for the long term, it’s important to keep an eye on your investments without going crazy. With that being said, we can go over a few concepts that will help keep your mind in an organized state. Whether you are investing for retirement, college education, or buying a house, staying on top of your investments will help ensure that you meet your goals.
Everyone has a different situation that is going to call for different strategies, right? There’s goals and objectives, along with risk tolerance that makes everyone’s plan different. Not everyone has the option to contribute to a 401k or some other type of employee sponsored plan. And when that’s the case, people could make the move to open their own retirement accounts.
Before getting into investing and saving for your future, you must make sure there’s a strong foundation. You may need the help of a financial professional, but it’s vital to analyze and evaluate your current financial status before diving into any of this.
Now that we have a solid understanding of how equity works, we can discuss debt. If I didn’t mention it in the last episode, the markets are full of certain risks that investors need to be aware of. One way of reducing high risk and volatility in portfolios is by including some debt securities.
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