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Written by Robby Davis
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Thursday, 08 July 2010 11:55 |
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 While browsing the internet the other day I came across a startling, but not too surprising statistic. Current research suggests that 70% of Generation Y workers do not participate in their companies 401k (or similar savings accounts). For those unfamiliar with the term “Generation Y,” it refers to individuals born in the mid 1970s to 2000. It’s easy to understand why many young people would choose not to contribute to a 401K program. For a young person retirement is often the last thing on the mind. It’s easier to choose to spend the money NOW, rather than saving it for LATER.
What people do not often realize is that choosing to not participate in a 401K program is actually causing them to LOSE money. Until about a month ago I was part of the 70% who do not contribute. My employer will match up to 3% of your salary in a 403B (401K for non-profits) after working there for one year. I had procrastinated on signing up for this benefit and missed out on three years of contribution. When I went back and calculated the amount I would have had if I chose to be a part of the program, I realized that I had missed out on $3000! It blew my mind that I had lost out on that much!
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Read more... [Your Employer's 401k | It's a No-Brainer]
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Written by Griff Hanning
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Friday, 02 July 2010 00:48 |
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 A common misconception is to use the terms asset allocation and diversification interchangeably. But the truth is that there is a distinct difference between the two. It's important to understand this difference, even as a beginner-investor so that you can minimize your losses and maximize your gains.
Example:
Let's look at an example of the difference between asset allocation and diversification:
There's an entrepreneur who decided that he would like to spread his potential income out between several different business ventures. He opens up a floral shop, provides floral wedding decorating services, and becomes a business consultant for small businesses.
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Read more... [Asset Allocation and Diversification of your Investments]
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Written by Griff Hanning
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Friday, 02 July 2010 00:17 |
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 When stepping into the exciting and yet scary world of investing, one of the first things you need to understand is the difference between the three main structures you can use. The reason this is so important is because it affects your money NOW and in RETIREMENT.
Even though there are many different ways to invest, the three main structures you can use to get involved in the market are
- Regular Investment Accounts
- Traditional IRAs
- Roth IRAs
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Read more... [Traditional IRAs, Roth IRAs, and Regular Investment Accounts]
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Written by Griff Hanning
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Friday, 02 July 2010 00:13 |
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 Myths About Investing:
- You have to be a guru to invest.
- You have to be licensed in order to invest.
- You will not be successful without an investment broker.
- You can't trust anyone with your money these days.
- Investing will take up all of your time.
- Investing is gambling. Most lose, and some win big.
- You have to be good at numbers in order to invest.
- If my investment portfolio is not complicated, I won't see a very good return.
- ... [insert your own myth here]...
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Read more... [False Myth: Investing Has to be Complicated]
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Written by Griff Hanning
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Thursday, 01 July 2010 16:29 |
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Investing is often an intimidating financial move for most people. When I hear and read about things like RICs, REITs, Trusts, Bonds, Allocation, Diversification, Stock Options, Mutual Funds, Ups, Downs, NASDAQ, Capital Gains blah, blah, blah... I start to feel as if I should just forget about the whole thing and go take a nap.
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Read more... [Griff's Investment Strategy]
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