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Financial therapy can be an investment in your relationship

Sometimes it’s a difference in values: One spouse wants to save for a rainy day, the other wants to live for today. For other couples, money can turn into a weapon, with her spending to get back at his transgressions, or him clutching the purse strings to maintain power. Money is one of the biggest tension points of any marriage, with deeply rooted issues from childhood often shaping each perspective. But it’s also a taboo subject — even more than sex — among many couples, psychologists say. And few of us have any education or training in talking about money. …

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Overcoming a Habit of Lying to Yourself About Money

After reading a recent article about how to deal with a partner that hides and lies about money problems, several readers made the astute point that many of these situations are often the result of people lying to themselves about money, whether directly (by actually telling yourself false conclusions about the facts you already know) or indirectly (avoiding the facts). I used to often lie to myself about money. I’d buy things on the credit card without checking balances or considering the consequences, believing it wasn’t that big of a deal or that I could easily afford it later. Sometimes, …

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Are you committing financial infidelity?

Financial infidelity. It’s not quite the same as other types of infidelity in your marriage, but experts say it can be just as damaging. We talked to a panel of financial planners to sort out what it is and how to avoid it. Several say they’ve seen it before, and it’s always unpleasant. “As we were going through budgeting for some clients, there was just a shortfall every month in the budget that they just couldn’t figure out where it was,” Dave Henderson said. He says one of their clients was funneling away funds for themselves. You’d be in trouble …

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Money Problems Run in the Family: Should You Blame Your Parents?

You got your sense of humor from your mom and your good looks from your dad, but you may have inherited something else from your parents – your problems with money. Bad financial habits often run in the family, as parents pass along their attitudes about debt, saving, and spending to their kids, sometimes unwittingly. Forty-four percent of Americans surveyed by the National Foundation for Credit Counseling (NFCC) said they learned most of their financial lessons from their parents. Yet in a separate NFCC poll, 44% also said they’d never considered whether there was a link between their parents’ financial …

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Intelligent Money Magazine

When we sat down with Jonas to do this story, it did not take long to see where his views are. Jonas stated that people are not wired well when it comes to making short-term sacrifices to achieve long-term goals. He referenced an innovative research project that shows consumers boosted their planned retirement investments after they viewed older versions of themselves using facial-aging software. The idea of investing in their own futures made more sense when they could relate to their future selves as real people. A bit chilling, perhaps, but effective says Jonas. Emotionally, people have trouble doing the …

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What Your 401K, IRAs & Annuities Don’t Want You to Know

Click on the link below to see what 401K’s IRA’s and Annuities don’t want you to know as well as the people who sell these products. what_your_401k_iras_and_annuities-dont_want_you_to_know

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Breaking the Paycheck to Paycheck Cycle

Did you know that 76 percent of all Americans are living paycheck to paycheck as of 2015? Think about that for a minute, because it s truly astounding. According to the U.S. Census Bureau, the U.S. population included 240,745,082 adults as of June 2015. That means that 182,456,443 Americans more than three of every four people in this country are simply waiting for the next payday to arrive, with virtually no savings to fall back on in an emergency. How did this happen? What went so wrong in so many people s lives? The United States is the land of …

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Wake Up! Buy & Hold Doesn’t Work

I’m losing patience with financial rules of thumb, especially the tried and true concepts of “Buy & Hold” and infamous “Buy Low & Sell High.” Not only does the “Buy & Hold” concept lack relevance in today’s markets, but technically you can’t apply both a “Buy & Hold” strategy with a “Buy Low & Sell High” approach. Let me explain: Goodbye to Buy and Hold In case you haven’t noticed, the Dow is less than 2% away from giving back all of its gains for the year. Remember, the Dow is a classic example of Buy and Hold. Now let me prove why Buy & …

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Profits at a price in the world of hedge funds

Why follow the investment herd when the sharpest minds in finance can make money for you whether markets go up or down? But all, of course, for a price. This idea, give or take a few tweaks over the years, has been the consistent pitch by hedge fund managers to potential clients. The term “hedge fund”, as the name suggests, owes its origins to an investment style intended to allow investors to be hedged against any large market falls. This meant, in theory, investors could be protected against a big sell-off while being able to take advantage of opportunities to …

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Are Millennials Ready For A 100-Plus-Year Life?

Dear Millennial, Are You Ready for a 100+ Year Life? We’re in the midst of a global demographic shift resulting from increasing longevity and low birth rates. Life-spans have nearly doubled in the last century due to advances in science, sanitation, and safety, and lives grow longer each year. The odds are that millennials and the generations that follow will experience significantly longer lives. So conversation about the future of aging is not just about “boomers.” It’s about all of us. Many see aging only in negative terms, with the talk about entitlement costs, dependency ratios, and the challenges of …

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