How to Create a Budget? How to Create a Budget Justin Goodbread, CERTIFIED FINANCIAL PLANNER™ with Heritage Investors, a Knoxville Tennessee based wealth management firm and financial advisor answers this question: How do you construct a budget? This Client Question of the Week addresses this all too familiar question. It’s not as hard as you may think. Let’s break it down into a few simple steps. Click to watch.
Dow and SP 500 Green for 2016 WEEKLY UPDATE – MARCH 21, 2016 After a historically rough start to the year, stocks finally rallied enough to put the S&P 500 and Dow in the green for the year. Extended weakness in the dollar-which investors hope could boost economic growth and corporate profits-contributed to the gains. For the week, the S&P 500 rose 1.35%, the Dow added 2.26%, and the NASDAQ grew 0.99%. The last two weeks have been important in terms of global monetary policy. The European Central Bank, Bank of Japan, and Federal Reserve all met to determine next steps for their respective economic spheres of influence. Currently, there is a divide between the Fed, which is moving away from low rates while supporting economy growth, and the ECB and BOJ, which are fighting slowing economic growth with negative rates and quantitative easing. However, the latest Fed meeting suggests that the divide may not be as great as it was before. The Fed voted last week to hold rates steady, not being ready to commit to further increases at the moment. However, the central bank’s official statement indicated that we can expect two interest rate hikes this year, instead […]
Can an Emergency Fund Ever Be TOO Big? Whether it’s on a personal level or a business adventure, most financial professionals will suggest you have an emergency fund of some type when the unexpected happens, so you aren’t left jostling to make ends meet financially. There are varying opinions on everything from the ways to build that fund to exactly how much you need have access to in those situations. However, there are times when an emergency fund can get out of control and you need to reign it back in. At a personal basis, the standard size most experts will suggest you have is a three to six month cushion* (if you have not started saving then work toward getting at least one month put back). This is not money you have invested in something you will have to pull out. This is cash on hand…or perhaps in a savings account at a bank that you can easily access. Remember you aren’t trying to build wealth on this. You are merely preparing for life, which we all know can happen at any given moment. The most important reason for having an emergency fund is to keep you from going into debt […]