AdviceIQ Articles

  • A Week Focused on Advisors

    AdviceIQ has a central credo: Everyone should have a financial advisor. But not just any advisor – a good advisor, and the right one for you. So for one week in New York’s Times Square, Sept. 15-19, our company, AIQ Inc. put on National Financial Advisor Week.

    This was an intensively practical forum to inform the public about personal finance – about how to deal with matters that affect their lives, ranging from funding a retirement to paying for higher education. And about how to get the best guidance on these crucial issues.

  • What Is Your Risk Tolerance?

    How do assess your stomach for risk in investments? By looking at when you need the money and your spending habits, a panel of advisors said. But the current market’s situation also is a factor in investors’ capacity for risk.

    “The time to worry is when no one is worried about risk,” said Don Hutchinson, senior vice president of Goelzer Investment Management.

  • Improving Your Credit Score

    Your credit score is like the GPA of your finances. To get better financial options in the future, you should know your credit score and how you can improve it if necessary.

    Your credit score plays a role in almost every financial aspect of your life. Banks check your credit score to determine whether or not to approve you for credit and how much you pay in interest charges. Your landlord may ask for your credit score for your lease application, and more and more employers are interested in it as a way to measure how responsible you are.

  • Boom Times for the Repo Man

    The good news for the economy is that consumers are buying more. The bad news is that they’re not paying for what they buy. Debt delinquencies are surging, and so are collection agencies.

  • Getting Free Advisor Help

    Financial advisors are not just for the wealthy. If anything, the financially insecure need advisors more. If you can’t afford one, the good news is, free advisory services exist to help you stand on your feet.

    “We do tons of planning for people with very limited assets,” said Anthony Canale, president of the Financial Planning Association, New York Chapter, during a panel discussion.

  • Retiring Mortgage Free

    How often do you think about paying off the mortgage? Retirement may be harder if you still have debt. Ideally, you should enter retirement as free from a mortgage as possible. Here’s why and how.

    Not having a mortgage reduces your overhead. That is to say, you need less money to live. You lower your personal break-even point. With limited income in retirement, this is always a good thing. Say your mortgage is $1,500 per month. If you pay it off before you retire, you have $18,000 more per year in your pocket.

  • Why Use Money Funds at All?

    Money market funds are a zombie investment. So why does anyone invest in these funds – one of the most important tools for savers over the past several decades, and now essentially among the walking dead? Because, despite their tiny interest payments and many other disadvantages, money funds seem relatively safe.

  • Young and Burdened by Debt

    Today’s college grads carry unprecedented amounts of debt. How should they deal with it? Here are some strategies.

    The problem sneaks up on many young borrowers. Wall Street Journal reporter Veronica Dahger, moderator of a panel of advisors, noted that a lot college grads will wake up to discover that they are burdened by an “overwhelming amount of debt.”

  • $ To-Do List for Rest of 2014

    With most of this year suddenly behind us, plenty of financial chores remain for you in 2014. Here are eight to-do items for your list.

    1. Review your 401(k). With the Standard & Poor’s 500 and other market indexes at or near all-time highs, revisit your 401(k) asset allocation and, if needed, rebalance. Why not take this chance to activate the auto-rebalance feature if your plan offers one?

  • The Fed’s Bafflegab

    Obfuscation is an art form in which the Federal Reserve excels.  Our nation’s central bank follows a few simple rules:

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