Top 5 Ways to Manage Your Money

I’ve written a few Top 5 posts so far, and the 5 top items have generally been listed in no particular order.

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That won’t be the case today. Presenting, from best to worst, the Top 5 ways to manage your money!

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Top 5 Ways to Manage Your Money

Invest in low cost stock and bond funds. Diversify. Invest early and often. Know the tax implications.

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Either an hourly rate financial advisor or roboadviser, such as Betterment or Wealthfront can supplement a DIY approach.

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The advisor will not be paid commissions and the products you purchase ought to be low cost. Your incentives are aligned.

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The friendly downhome / advisor / planner / “money guy”

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Invest with emotion. Get in while the getting’ is good (buy high). Get out when the bottom drops out (sell low).

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Put all your eggs in one basket, and perhaps take on debt to put a couple of someone else’s eggs in there on margin. Buy the stocks recommended by the loud man on the television.

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Pay for the newsletter and buy the sure-things recommended there. Chase returns. Worry not about tax implications.

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Top 5 Ways to Manage Your Money

I’ve written a few Top 5 posts so far, and the 5 top items have generally been listed in no particular order.

That won’t be the case today. Presenting, from best to worst, the Top 5 ways to manage your money!

Top 5 Ways to Manage Your Money

Invest in low cost stock and bond funds. Diversify. Invest early and often. Know the tax implications.

DIY (Do It Yourself)

Either an hourly rate financial advisor or roboadviser, such as Betterment or Wealthfront can supplement a DIY approach.

Tie (RoboAdvisor, hourly rate financial advisor / CFP)

The advisor will not be paid commissions and the products you purchase ought to be low cost. Your incentives are aligned.

Fee-only financial advisor

The friendly downhome / advisor / planner / “money guy”

Invest with the friendly neighborhood insurance salesman fee-based financial planner, or whatever designation they are going by these days.

Invest with emotion. Get in while the getting’ is good (buy high). Get out when the bottom drops out (sell low).

DIY (Do It Yourself)

Put all your eggs in one basket, and perhaps take on debt to put a couple of someone else’s eggs in there on margin. Buy the stocks recommended by the loud man on the television.

Pay for the newsletter and buy the sure-things recommended there. Chase returns. Worry not about tax implications.

SWIPE UP NOW TO READ MORE

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