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4 steps from a financial planner to vet money advice from TikTok ‘finfluencers’
“Before placing full trust in their recommendations shared on social media, it’s crucial to verify their sources and advice by consulting a trusted professional,” Secco said.
I’m a Financial Planning Expert: Never Prioritize These Five Expenses Over Paying Bills
“While installment payment options may make new electronic devices seem manageable, they can still represent a significant expense in the long run,” she said. “It’s crucial to differentiate between needs and wants and to avoid spending simply to follow others.”
I asked a financial planner what makes traditional IRAs and Roth IRAs different — and which one I need
Not every employee works for a company with employer-sponsored retirement plans, like a 401(k) or SEP IRA, and if they don’t, Secco recommends they consider opening a traditional IRA.
Financial Planners: Top 5 Tips for Struggling Clients Looking To Build Wealth
“They often wonder how to build wealth while their expenses are so high,” Secco said. “My advice is to prioritize establishing a fixed savings amount that is non-negotiable. Once spending takes precedence, it becomes challenging to cut back and allocate funds toward saving.
I’m a Financial Advisor: Here’s How I Conquered My Biggest Financial Fear
As Secco developed her expertise in finance, she came to understand that having a lot of money doesn’t always guarantee peace of mind. Instead, having clear goals and a plan for achieving them is essential to long-term financial health.
Financial Advisors: 9 Investment Blunders To Avoid in 2024
One mistake people make is not understanding the difference between financial products offered by banks and financial institutions, especially when they coexist within the same branch, according to Hazel Secco…
What is compound interest and how is it calculated?
Another way of looking at it is that compound interest “considers added value, while simple interest remains constant, calculated from the initial value,” said Hazel Secco, founder and president of New Jersey-based Align Financial Solutions
Fixed annuities vs CDs: Comparing retirement savings options
One of the main differences to keep in mind is that fixed annuities are supported by insurance companies, while CDs have Federal Deposit Insurance Corp. (FDIC) backing as long as they’re through a federally insured bank, according to Hazel Secco, founder and president of New Jersey-based Align Financial Solutions.
Why You Need an Emergency Fund To Protect Your Retirement Funds
Selling investments during a market downturn means you may need to achieve higher returns to recover your original principal, making it challenging to regain lost ground
How many checking accounts should I have?
Some checking accounts might offer “extra perks, such as free wire transfers, unlimited transactions or free bill payment options based on individual needs and usage,” Secco said.
Avoid These 3 Emergency Fund Mistakes in 2024
While the three to six months’ guideline is commonly emphasized, its applicability should be evaluated based on individual needs, lifestyle, career stage and overall financial situation
Is this a good time to take out a home equity loan? Experts weigh in
Home equity loans aren’t a good idea if you’ll need to sell the house soon, because if your home falls in value between now and then, it could “lead to a situation known as being underwater,” Secco says, “where the outstanding mortgage balance exceeds the home’s current market value.”
Self-Made Women: Hazel Secco of Align Financial Solutions On How She Started With Very Little and Created A Highly Lucrative Business
Hazel Secco is the visionary founder of Align Financial Solutions, dedicated to illuminating the path of financial empowerment and clarity for individuals and families
Certificates of deposit (CDs) vs. bonds: How do they compare?
CDs … are considered highly secure due to their protection of the principal investment. However, it’s worth noting that CDs may not be the ideal choice for long-term investments, as they expose investors to interest rate risk upon maturity
‘They’ve missed out.’ …this is the No. 1 savings mistake many people are making now.
If you have debt, you need a plan to pay it off. “Navigating debt can be a multifaceted challenge, especially when faced with various types of loans like student loans, credit card debt, and personal loans,” says Hazel Secco, president and founder of Align Financial Solutions.1
How to Become a Financial Advisor
I decided to pursue the CFP designation right from the beginning of my career.
I’m a Millionaire: How I Got Rich Eliminating These 7 Expenses and Payments
Setting and adhering to a budget has been a cornerstone of my financial strategy
6 Money Traps that are keeping you from retiring
It’s crucial to prioritize saving before indulging in discretionary expenses. When retirement contributions are automated, they tend to go unnoticed.
I’m a Financial Advisor: Here’s Why I Don’t Have These 3 Investments in My Portfolio
These investments can incur early distribution penalties if you want to liquidate the fund prematurely2
Experts Share Their Top Tips for Retiring Rich
Having this financial cushion is vital for making smart money decisions, especially in times of unexpected need, providing you with valuable options for financial security.
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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Investing involves risks including possible loss of principal.
ETFs trade like stocks, are subject to investment risk, fluctuate in market value, and may trade at prices above or below the ETF’s net asset value (NAV). Upon redemption, the value of fund shares may be worth more or less than their original cost. ETFs carry additional risks such as not being diversified, possible trading halts, and index tracking errors.
International investing involves special risks such as currency fluctuation and political instability and may not be suitable for all investors.
The third-party entities referenced in this article, Align Financial Solutions and LPL Financial are separate entities.
Securities and advisory services offered through LPL Financial, A Registered Investment Advisor. Member FINRA/SIPC. ↩︎ - Alternative investments may not be suitable for all investors and involve special risks such as leveraging the investment, potential adverse market forces, regulatory changes and potentially illiquidity. The strategies employed in the management of alternative investments may accelerate the velocity of potential losses.
To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.
Securities and advisory services offered through LPL Financial, A Registered Investment Advisor. Member FINRA/SIPC. ↩︎