Are You Keeping Score
The Wall Street Journal provides an excellent explaination of how credit scores are calculated. A must read for all consumers.
SHOULD INVESTORS BE ALARMED
Should investors be alarmed by greater governement intervention? The Federal government has been unusually active intervening in the economy of the
“Nudge†Yourself to a Better Life
I just recently picked up the book Nudge: Improving Decisions About Health, Wealth, and Happiness by Richard Thaler and Cass Sunstein. Both authors are professors at the
When Banks Pay You
Today, record numbers of consumers are using reverse mortgages to supplement their retirement income, pay off their existing mortgage, pay for health care expenses, make home modifications, or simply establish a cash reserve for emergencies. Despite increased popularity, reverse mortgages are often misunderstood
Consumer Education Series
NAPFA Launches Consumer Education Series to Help Americans Better Understand Personal Financial IssuesWeb-based education program to touch on topics ranging from basic money issues to complex estate and investment topics
The National Association of Personal Financial Advisors (NAPFA), the country's leading professional association of Fee-Only financial advisors, has been a vocal advocate for consumer protection in the financial industry. Now NAPFA is gearing up to further educate people on a variety of topics in an effort to help Americans become educated consumers of financial planning advice and products.
The Consumer Webinar Series is a year-long initiative beginning August 7, 2009 that will provide an opportunity for anyone in the country to learn about a wide range of financial issues from NAPFA-Registered Financial Advisors. Each month a new session will be conducted live online. Consumers can attend the live session after registering for free, or listen to an audio file after the program. The instructors NAPFA has recruited for the various sessions are among the industry's leaders in truly comprehensive financial planning and includes members of NAPFA's National Board of Directors, past NAPFA national chairs, educators, and authors.
"Each session is intentionally designed to help attendees better understand a specific issue and why it is of particular importance to them," said NAPFA National Chair Diahann W. Lassus, CFP®, CPA/PFS. "We want attendees to take something away from the sessions that helps them tackle these issues at home. As an industry we have done a poor job of helping consumers increase their financial knowledge. This program, along with the successes of the Your Money Bus Tour, is NAPFA's way of doing its part."
The series will include 12, one-hour sessions delivered via the internet. The individual sessions will be conducted from 1 to 2 pm Eastern time and will include:
August 7, 2009 - Money 101: Knowing the Basics
September 4, 2009 - Kids & Money
October 2, 2009 - What is Financial Planning?
November 6, 2009 - Protecting What You Have
December 4, 2009 - Investments: The Basics
January 8, 2010 - Investments: Advanced Concepts
February 5, 2010 - Managing Your 401(k)
March 5, 2010 - Leaving a Legacy
April 2, 2010 - Women and Money
May 6, 2010 - Financial Planning and Small Business Owners
June 4, 2010 - Your Retirement
July 1, 2010 - Financial Windfalls
Registration for the 2009 sessions is open now. Learn more about the Consumer Webinar Series by visiting http://www.napfa.org/consumer/ConsumerWebinarSeries.asp.
In addition to registering for the sessions, consumers can learn more about the topics and the NAPFA-Registered Financial Advisors who will be instructing the sessions.
"We hope people will take advantage of this opportunity to better themselves and their families. Only through education will consumers be better capable of addressing their own financial situations," added Lassus.
Members of the media who would like to learn more about the Consumer Webinar Series can contact Benjamin Lewis of Perception, Inc. at 301-963-7555 or Benjamin.lewis@perceptiononline.com.
About NAPFA
Since 1983, The National Association of Personal Financial Advisors (NAPFA) has provided Fee-Only financial planners across the country with some of the strictest guidelines possible for professional competency, comprehensive financial planning, and Fee-Only compensation. With more than 2,100 members across the country, NAPFA has become the leading professional association in the United States dedicated to the advancement of Fee-Only financial planning.
For more information on NAPFA, please visit www.napfa.org.
Cash for Clunkers
If you have been thinking about trading in your old clunker, now just might be the right time. The government is subsidizing the trade-in value of gas-guzzling cars, vans and trucks. To simply the requirements, here's the general guidelines of the CAR Allowance Rebate System (CARS):
US Debt Clock
The following website is a real attention getter: http://www.usdebtclock.org/. The purpose of the USDebtClock.org is to inform the public of the financial condition of the USA. Using complex formulas verified by multiple sources, the numbers give a real-time snapshot of the country’s balance sheet. Here are some areas to focus upon as you ponder:
Closing the Behavior Gap
Over the long run, equity mutual funds can offer some pretty attractive returns. Ibbotson SBBI research shows that Large Stocks have returned an annualized 9.6% from 1926 to 2008. All too often an otherwise rational person will have an investment experience that doesn’t measure up to market returns. Studies suggest that investors actually under-perform the funds they are investing in. How could that be?
Look Out for Number One
Generally, looking out for your own interests rather than those of other people is not considered a positive attribute. But when it comes to looking for financial planning and investment advice, you should do exactly that. Understanding the standard of care required by your advisor is one way to look out for yourself.
One Bad Apple
Investment Advisors managing over $25 million are subject to regulation by the Securities and Exchange Commission (