Insights & Financial News | Oak Road Journal

Insights

5 Ways to Use Your Tax Refund Wisely

We all know that eating our vegetables before dessert is a good idea. But just the same, few people would advocate only eating vegetables — you have to live a little, after all! The same principle applies to your tax refund, that one-year, interest-free loan the government appreciates so much.

Accepting market cycles and focusing on the process

It would be an understatement to say that there’s a lot going on in the world right now, perhaps more than ever. We live in a drastically different political landscape than we did mere months ago. The world’s geopolitical landscape is changing quickly, and is as complex as ever.

Choosing a Financial Advisor: Fee-Only vs Fee-Based

Like any industry, the financial industry is full of technical terms and jargon that can easily get confusing to anyone who doesn’t work in it — including the distinction between fee-only and fee-based financial advisors.

Where did we get this idea that we need to try to beat the market?

You may have heard people talking about “beating (or outperforming) the market. And what is the market? Usually, when people talk about “the market,” they’re talking about U. For all intents and purposes, the S&P 500 is an index of 500 of the largest companies in the U.

It’s ‘OK’ to Have an Emotional Attachment to Your Money

It’s ok to have an emotional attachment to our hard-earned money. What I mean is, in my case, my wife and I have worked very hard to save and invest during our careers. The money we have saved and invested represents stored labor.

Why parents, not grandparents, should own 529 savings plans!

Learn why parents — not grandparents — should own 529 college savings plans and how ownership affects financial aid eligibility through the FAFSA and EFC calculation.

How to tell if your Financial Advisor is acting in your best interest?

As of June 9th, 2017, the Department of Labor’s so-called Fiduciary Rule is here. What is the Fiduciary Rule and why is it so important? First, let’s properly define: ‘fiduciary’. A fiduciary is someone who is required to act in the best interest of someone else.

How to Declutter Your Retirement Savings

I’ve moved quite a few times in my life. My family and I moved from Missouri to New York City then back to Missouri to Nashville, TN and back to Missouri. One thing you learn when you move is that you have a ton of stuff that you move with you that sometimes never even gets unboxed.

The Power of Compound Interest and The Benefits of Starting Early

John waits until he is 30 to begin investing. He invests $250 per month for 30 years. He is able to achieve a 7% compound annual return. Over the course of his investment career, John invests $90,000 of his own money ($3,000 per year for 30 years) and at 60 years old, he has accumulated $303,219.