FINANCIaL
FIELd NOTES
Is Buying An Extended Warranty On Your Car Worth It?
You just got done picking out your car and are invited to finish the deal by talking with the “finance guy.” This typically involves sales pitches for extended warranties on everything from your tires to your favorite Beatles CD…okay, that last one might be a stretch but they really do offer protection on just about everything.
Have you ever questioned whether it was in fact worth it? In 2013, Consumer Reports did an extensive survey to find out the answer to that question…
How Cash Can Earn You More Than 0%
Do you know the interest rate you’re earning on your savings account? The last time I checked, my “high-yield” savings was paying a meager .4%. When savings accounts pay nearly 0% in interest, as they did from 2002-2004 or 1992-1994, it is tempting to think of cash as a worthless investment.
But as investors found out during the Covid-19 crisis, 2008 financial recession, and many recessions prior, cash was anything but worthless.
Three Refinance Strategies for 2021
It seems everywhere you go people are talking about refinancing. Your neighbors, family, friends, Facebook & TV ads, mailers…the list goes on. As we enter 2021, there are a few refinancing strategies to consider, possibly even if you refinanced as recently as last year.
Is There A Margin Of Safety In Your Financial Plan?
Have you ever gotten onto a overcrowded elevator and stared anxiously at the “Maximum Capacity” sign wondering how close you really are to the limit? The good news is that when engineers design elevators, they include a margin of safety above and beyond the limit suggested for standard operation. The same is true for airplanes, cars, and just about anything else with strict regulation. Your financial plan should have a margin of safety, and you’re the one to regulate it.
Fiduciary vs. Suitability and Why it Matters
In 2016, the DOL released the Fiduciary Rule, which for the first time brought to light two different types of financial advisors; Fiduciaries and Non-Fiduciaries. Before this, investors had very little knowledge of the differences. Studies have shown that nearly 50% of Americans believe ALL financial advisors are required to act in the best interest of their clients. However, this is sadly not true.
Three Fascinating Books I Read This Year
Toilet paper, hand sanitizer, and Clorox wipes were all in short supply this year. One thing that was not – time. And with that time, I was able to read quite a bit more than I normally do. I wanted to share a three books that I found particularly interesting.