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Establishing good financial health is probably a high priority
for you, but finding the time to learn what you need to know
and take action can be difficult. This lack of time coupled
with the seemingly complex subject matter of personal finances
can make financial planning feel overwhelming.
With the help of financial advisor and bestselling author
David Bach, MsMoney.com has developed a Quick Start Program
of the 5 most critical actions you can take today to make
yourself more financially healthy.
- Each step is actionable.
- Each step will have significant financial impact.
- Each step, while tactical in nature, will serve as an
example of a broader, sound financial principle.
Here you will learn why you should increase savings and invest
in pre-tax retirement accounts. Various calculators and tools
are available to determine how much these additional savings
are worth and to ensure that you make the most of your employer's
401(k) or other retirement vehicles.
In this section, discover the value of getting a fair return
on your dollar. MsMoney.com focuses on your "rainy-day" or
security money to help you think about how much getting a
fair return is worth, where to achieve a fair rate of return,
and how much security money you should keep available.
We discuss how much money you can save by lowering your interest
rates and paying off debt more quickly. Here, you can use
our tools to calculate the value of credit card consolidation,
get tips on how to search for the best rates available, and
learn how to consolidate your debt.
Again, interest rates are of prime interest! The difference
between a 30-year mortgage and 15-year mortgage could mean
hundreds of thousands of dollars. This area includes the information
and tools you need to weigh and consider the potentially enormous
ramifications of basic financial decisions.
In order to figure out your risk profile, you need to know
the basics. In this section, we explain the concepts of risk
and reward. Once you know your tolerance for risk, you can
use our rules for asset allocation. These help you determine
how you want to invest your money given your age, your investment
goals, and how much risk you want to take. This is a great
place to learn the basics of investing.
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