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While it’s highly recommended that we use a financial advisor when we start to grow our investment portfolio, there are a lot of things you can do before you ever speak to a financial advisor to grow and maintain your investment portfolio. Investing, like everything else in life, has no guarantees, and even the hottest stock or the best tip may not always perform the way we would like.
Sometimes simple is best. Many of us tend to complicate our financial situation; overthinking our options while ignoring the basics.
But like anything else, the simplest rules are often the most important ones; and the ones most likely to be ignored. How many of these rules do you follow?
Here are the answers to some of the most frequently asked financial questions.
I’ve just started my first job. Do I really have to start saving for retirement now?
We all have our own unique way of handling our finances. While some of us are natural born savers, others may have a hard time making it to the next paycheck. Fortunately, most of us fall somewhere in-between, putting away money at times, while making frivolous purchases at other times.
Personal finance, like just about everything else, is mainly common sense. Advice like “don’t spend more than you make; start investing while you’re young; don’t loan money to friends with the expectation of getting it back,” have been around for generations, and most likely will survive the next few generations as well.