Get Out of the Red and Into the Black

Bottom line: no matter where how deep in debt you are, there is a way out if you keep your head and keep moving forward. And, "How to Get Out of Debt, Stay Out of Debt & Live Prosperously," by Jerrold Mundis can help you do it, if you follow his three cardinal rules: 1) don't debt one day at a time, 2) Keep a spending record scrupulously, and 3) adhere closely to your spending plan. Read more of this article.

A Brief History Of The Mutual Fund

The ubiquitous mutual fund has been around longer than most people know. With thousands of funds available, take a closer look at where they've come from and where they may go.

A Brief History Of The Mutual Fund: "Mutual funds really captured the public's attention in the 1980s and '90s when mutual fund investment hit record highs and investors saw incredible returns. However, the idea of pooling assets for investment purposes has been around for a long time. Here we look at the evolution of this investment vehicle, from its beginnings in the Netherlands in the eighteenth century to its present status as a growing, international industry with fund holdings accounting for trillions of dollars in the United States alone." Read more of this guest article.

Don't Overlook Estate Planning

Estate planning is an often overlooked aspect of our financial lives. Though most still don't have wills, estate planning is so much more. Just to get you thinking:

3 legal papers you shouldn't live without - MSN Money: "Who would be authorized to pay your bills or wrangle with insurance companies about your care? Who would decide whether to sue that driver who hit you -- or shut off the respirator that's keeping you going? The state will eventually find someone to fill these roles, after a potentially costly and time-consuming court hearing. But it might not be the person you would want. So at a time when you're most vulnerable, life-and-death decisions could be made for you by a stranger -- or an estranged, distant or greedy relative." Read more of this guest article.

What are Cash Investments?

When financial professionals talk about cash, they may mean several things - depending on the context. You can be sure of one thing, they aren't talking about the stuff we carry around in Hip National Bank.

Vanguard - Stock, bond, cash investments - What are cash investments?: "Cash investments—very short-term debt securities that pay a modest return but maintain the value of the investor’s principal—are appropriate for any of those financial goals. For individual investors, the most common types of cash investments are money market funds, bank savings accounts, short-term certificates of deposit (CDs), and U.S. Treasury bills. Only money market funds and savings accounts offer real liquidity, the ability to easily withdraw cash immediately without penalty." Read more of this guest article.

Advantages Of Bonds

Bonds have gotten the short shrift for far too long. No, they aren't sexy or cool. But, they may have a place in your portfolio. Find out why.

Advantages Of Bonds: "Have you ever heard co-workers talking around the water cooler about a hot tip on a bond? We didn't think so. Tracking bonds can be about as thrilling as watching a chess match, whereas watching stocks can have some investors as excited as NFL fans during the Superbowl. But don't let the hype (or lack thereof) mislead you. Both stocks and bonds have their pros and cons, and in this article we will explain the advantages of bonds and why you might want to include them in your portfolio." Read more of this guest article.

A CD Strategy Worth a Look

Okay, you've got your emergency/opportunity fund set up - NOW WHAT? You could hold these funds in a savings account, checking account, or money market account. But, how about getting some additional income utilizing CD ladders?

Step Up Your Income With A CD Ladder: "Certificates of deposit (CDs) are very popular among individual investors. They are similar to bonds, but they have a few distinct advantages over that fixed-income instrument. CDs have only one structural difference to a normal bond, which is that interest is paid at maturity as opposed to periodically throughout the life of the investment. But there are other differences to keep in mind, including that interest on CDs is fully taxable and CDs are available only through banks and therefore carry FDIC insurance. A popular use of CDs is through the practice of creating 'laddered' CD portfolios, which provide a highly customized and safe way to produce cash flows." Read more of this guest article.

Getting Started on the RIGHT Foot.

As a professional in the field, I'm sure you're not surprised that I am a big believer in getting good financial advice. Well, ... and giving it, too!!

Wherever you are, wherever you've been, don't fret. Good advice is available. It's on television, it's in magazines, it's on the internet, and it's available through a variety of advisors. In fact, there's so much, it can be hard to makes heads or tails of it. In this blog, with regular entries, articles, guest articles, Q & A sessions, and more, we'll tame the tiger. We'll help our readers make sense of the tons of financial information available. In short, we'll give good advice. So, enjoy and read away.

The Best Financial Advice Ever - MSN Money: "Someone, somewhere along the way passed along a nugget of financial wisdom that you took to heart. Maybe you absorbed the messages over time from some role model, such as a parent or grandparent. Or perhaps you just heard the right thing at the right time from a friend, an adviser or even a total stranger. If you're not doing well financially, maybe you're finally ready to hear some advice that could make all the difference." Read more of this guest article.

Making Sense of Financial Designations

Investment designations have long cause much of confusion in the marketplace, because, alone, they do not communicate what they stand for, what it takes to obtain them, or what competencies they build in the professionals that hold them.

The Alphabet Soup Of Financial Certifications: "If you have trouble telling the difference between a CFA, CFP®, CIC, ChFC or any of the other financial certifications, you're not alone. How do you sift through this alphabet soup to find the best financial professional for you? Here we look at the nine most popular designations with a brief explanation of the education and expertise each designation signifies and the kind of work done by the professionals holding them:" Read more of this guest article.

Learn the Lingo

CNBC can definitely make your head spin,... if you're not ready. Talk of "reverse IPOs", "bull spreads", or "ex-dividend dates" may prompt you to switch the station and leave the gobblyguk to somebody else.

Think of it this way. If you instantly transported yourself to Portugal this Saturday, you'd have trouble understanding a six year old, let alone ordering lunch. The bottom line is the Portuguese speak a different language than you probably do. And, so do financially savvy investors.

Fortunately, the solution is simple. Learn the lingo. From wall street dictionaries to financial glossaries, resources exist to help you get a grip on the lingo. Once you do, you just may actually enjoy watching CNBC.

The One Personal Finance Book You Shouldn't Be Without

Walk into any better bookstore, make a beeline to the personal finance and investment section, pick up any of over two or three dozen books, rip off the cover and boil it down it's main points, and you'd be left with one book: The Richest Man in Babylon by George S. Clason. Name authors you will – Suze Orman, Ric Edelman, David Bach, Dave Ramsey – none, and I mean none, have improved on the simple and timeless principles laid out in these pages. Read more of this review.

Follow The Money

Truth be told, I'm not sure the issue of how their advisor's may be compensated even dawns on many prospects or clients. But, trust me, it is one of the key issues financial services prospects and clients must understand when seeking financial advice. Understanding this issue sheds light on your advisor's motivation, recommendations, and your ongoing relationship. Read more of this article.

Make Black Enterprise a "Must Read"

I hate to say, coming up, I pretty much ignored Black Enterprise Magazine. Yeah, I knew it was there and knew, that since 1970, they've provided quality information for African Americans. I have to say the last few years, though, they've stepped it up. So much so, that I'd say it's must reading for African Americans interested in business and personal finance. Their Black Wealth Initiative, as well as their expanding media presence, is a welcome addition to the discourse for financial empowerment.

To make a long story short, my praise for BE runs deep. Check it out for yourself. I think you'll come away impressed, as well.

Build This Habit and Watch It Build You - FINANCIALLY

Industry pros, magazines, and financial television shows trip over themselves highlighting the bold and new over the tried and true. But, one of the most powerful things that anyone can do to improve their finances and increase their financial savvy is also one of the oldest, most widely known and simplest financial disciplines. Read more of this article.

ABC - "Always Be Cautious"

Every now and then, I feel compelled to pop in my Boiler Room DVD. Yeah, it's entertaining. But, for me, it's a reminder of the kind of folks who, sadly, have yet to disappear in this industry.

How do I know? I've seen "so-called" advisors talk so fast it'd make your head spin for days. These were the "advisors" who would scream through telephone lines, lie through their teeth, brow-beat clients, misrepresent expected returns, and generally do just about anything to make a buck. If they could sell their own grandmothers up the river without a paddle, granny would be out of SOL.

Take it from me, it's unfortunate that the securities world can still get really ugly really fast if you fall for the wrong pitch.

So, if you've never seen Boiler Room, do yourself a favor and read this fantastic review, get the flick, watch it, and consider it part of your education.

The Right Financial Advisor for You

Financial Advisors come from varied backgrounds, wear different hats and offer vastly different services. So, that begs the question, “What makes an advisor from Merrill Lynch, or UBS, or MetLife, or another firm, big or small, different from any other?” Read more of this article.

Finding a Good Financial Advisor Starts with TRUST

Finding a good financial advisor can be one of the toughest, yet most important, steps to getting your finances in order. It starts and ends with trust. Looking for an advisor who is a fiduciary can make the task easier.

Can you trust your financial adviser? - MSN Money: "'The best advisers, the ones who offer service rather than sales pitches, want to make a distinction between them and the product pushers,' Veres said. 'So they tend to embrace a standard which says that the consumer's interests come first, knowing that a salesperson pretending to be an impartial adviser won't follow them into territory where he's likely to get sued for his normal behavior.'"
Read more of this guest article.