Baby Boomer Finance – Basic Five of Finance
Welcome to this weeks edition of Baby Boomer Finance – Basic Five of Finance
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Show Notes:
From a New York Times article on May 17th comes the "Five Basics for Building a Solid Financial Future" by Ron Lieber.
His five basic are:
Investing is simple: invest in indexed mutual funds and similar vehicles and stick with them. Divide your money between stocks, bonds and other investments according to your risk level. Do not change the mix more than every 6 to 12 months or longer.
Paying for help maybe worth it. Professional help can cost you 1% of gross yearly. But it can provide discipline to your investing and increase your assets over 1%.
Research online to learn about spending and saving. There are lots of web sites and blogs devoted to these subjects. See what others think.
Automate bill paying.
Have a financial talk with your parents. You may need to plan on helping them and it is better to be prepared rather than surprised.
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