Top 5 Financial Terms You Should Understand

In recent weeks, you may have heard the word recession a lot. You may even have a vague understanding of what a recession is, but would like a better understanding of what a recession really is. What the Dow Jones Industrial Average? You probably hear that every night on the news and you know that it has something to do with the stock market, but aren't sure of the details. 

Here are some common terms you hear frequently and a simple explanation of what they really are:

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Why Financial Literacy is Important

One of the toughest questions we all face is have we saved enough or saved enough money that will last us till life expectancy? Here are some information on the changing retirement landscape and why financial literacy is very important.
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Why Financial Advisors Are Still Important

With the rise in popularity of financial planning robo-advisors, many experts predicted the beginning of the end for financial advisors. But as many investors are starting to see, there are distinct advantages to speaking with a live person when determining just how you should invest your money.

While robo-advisors can be a good solution for those with limited funds who want to get their feet wet in the investment arena, the problem is the lack of a personal relationship can prove to be detrimental.

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How to Create a Financial Plan

Creating a financial plan may seem overwhelming to those that have never completed one, but taking the first steps to creating a plan is much easier than you may think. Even if you plan on hiring a professional financial planner down the road, creating a rudimentary plan can go a long way towards sharpening your goals, making your meeting with a financial planner much more useful when it does occur.

If you’re not sure where to start, just follow these easy steps.

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Why Financial Literacy is Important

Being financially literate in today’s economic climate is more important than ever. Understanding finances can help you make better money management decisions, budget your money properly, adequately save for college, and be financially prepared for retirement. While it may sound daunting, financial literacy starts with a budget. Today, only one third of Americans have a budget that they actively use when making financial decisions, although 75% of Americans believe you should have a budget.

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Finding the Right Financial Advisor

If you’re ready to start saving towards your financial goals, you may want to consider hiring a financial advisor to guide you through the maze. While robo-advisors are also available to help you with your savings goals, they are best suited for those just starting out or for those with limited funds to invest.

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