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Should I Use a Fee Only Financial Advisor?

If you’re currently considering using an advisor to help invest some of your money, you may be wondering whether you should opt for a fee-based advisor. The past decade has seen a serious increase in the amount of fee-charging investment services—largely due to how lucrative the business strategy is for advisors and money management teams.

Fee-based advisory services have become the norm, and while this is good for advisors, you should make sure to do your own research prior to investing.

The fee-based financial industry has ballooned from almost non-existent to an industry worth over $2.8 billion. For this reason, the majority of money management advisors you’ll come across will be fee-based. We’ve compiled a list of the top three problems you may face if you opt to work with a fee-based advisor.

Let’s take a look at some of the real facts behind fee-based advisors.

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3 Exceptionally Useful Tools to Make and Follow a Budget

 

Budgeting isn’t the most engaging topic in finance, but it’s crucial if you want to take back control of your money. An individual’s income is often blamed for a lack of financial freedom, but what many Americans don’t realize is that budgeting can drastically change your financial status regardless of income level. The money is in the details — did you know that you can save more than $100,000 throughout your lifetime by simply bringing a packed lunch to work everyday. Subtleties like this can be taken advantage of through proper budgeting.

Over the past few years several comprehensive budgeting tools have emerged on the market. This article will outline three of the most popular budgeting tools available to help provide you with some stepping stones to creating the perfect budget today! 

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Save Money, Live Better – 6 Tips to Saving More Money

Many want to save money, live better lives, and be all around more comfortable. However, americans have become increasingly bad at saving their income. With 62% of American households have less than $1000 in savings, we are in a savings crisis in this country. But saving money is one of the best ways to achieve financial freedom. By having large cash reserves, you allow yourself the opportunity to reduce costs in your everyday life. In addition, you have the ability to make investments or take advantage of opportunities as they arise. In this article we will outline various easy ways that you can save money for the future.

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Banking for Life No Comments

The Truth about the Infinite Banking Scam

In the investment community, whole life insurance as an investment, sometimes called an Infinite Banking scam, gets thrown under the bus before it’s even understood.

The reason for this often comes from quotes and other misinformation spread by Dave Ramsey and other radio entertainers. And, as can be expected, many of these who preach “buy term and invest the difference” are sponsored by term insurance companies. Think they have some personal motivations for telling you to buy term life? I’ll let you decide that.

The reality is this, all investments have benefit otherwise they wouldn’t be around anymore. Some investments take more risk. Some grow faster, some slower. Understanding an investment, the pros and the cons, and weighing it out against all your other options is the only real way to get to the very bottom. Let’s look at the Infinite Banking scam and see if the underlying investment, whole life insurance, has any real merit.

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