:::: MENU ::::

Browsing posts in: Personal Finance

Everyday I’m Hustlin’

by

Logged into my email today to see this little guy smiling back at me:

Screen Shot 2016-08-26 at 10.32.08 AM

Sure doesn’t get old to see these “loan payoff” emails! I’m now officially down to 7 Navient loans (out of what 12). To be fair, I’d paid off this loan prior to last month’s debt update, but it took until the next billing cycle (now) for them to acknowledge that the loan was, indeed, paid in full.

Anywho…..pretty exciting stuff! Still lots of big loans ahead, but it’s a nice little pat on the back, indeed!

Lots (and lots!) going on in life right now! We’ve been house-hunting twice (no offers yet). We have lots of work/social functions (Last weekend was an “early faculty” happy hour. Tonight is a departmental social function). Next week we’re going back to Texas as a family. Originally hubs was going to go on his own (to spread his grandfather’s ashes with his mom), but it’s Labor Day and the kids have 2 days off of school anyway so we decided to just all go back together. I’m going to be doing various dad-related duties while in town, including:  1. going to social security office with him so I can get official permission to talk to them since they don’t recognize power of attorney, 2. meeting with a financial advisor to better invest my dad’s money, 3. meeting with a realtor to sell the Texas house.

I’m a teeny bit bitter that a chunk of my trip is going to be monopolized with dad-related stuff when I have two siblings who live in the same city that are perfectly capable of doing the things I’ll be doing. But such is life. There are ebbs and flows. Sometimes my sister picks up more of the “dad slack” and sometimes it falls on me. It’s already a huge relief for his Utah property to be sold and, although we’d originally talked about renting the Texas house, no one has stepped up to take control and my #1 stipulation is that I don’t want to deal with it. Since the duties have fallen to me anyway, I’m going to handle it how I want….which is to get rid of the property so I don’t have to deal with it. We have other (more personal) reasons why we want to get rid of the property instead of renting it, too. Mainly that, due to my dad’s disease, he has a tendency to f*ck stuff up and I just have a gut feeling that if we were to try to keep and rent the property, he’d find a way to mess it up. Might just show up at the front door (illegally) and demand something of the tenants. Or might cause an altercation with the property management company. Who knows? To limit liabilities (and make my life easier), the place just has to go.

So that’s what I’ll be doing the Friday before Labor Day (the only business day that I’ll be in town). Hoping I can get that drama out of the way and enjoy the rest of the long weekend doing low-key and cheap or free activities with the family.

Do you usually travel for Labor Day? We typically don’t, but it’s just worked out that way this time. 

What’s the last debt you paid off in full? Every new Navient loan that I pay off feels like a major triumph. Sooooo over that company! I swear! Once our house situation is squared away I plan to refinance my student loans through another company so I can get a reduced interest rate (and just not have to deal with Navient anymore).


Going for Broke: Things to Consider When Investing Without a Broker

by

Most investors work with a broker to help them find and purchase the right stocks for their portfolio. However, you can go it alone if you prefer. When investing without a broker, there are a few things you need to consider to ensure your money is as safe as possible and make it work hard for you.

Understand How to Buy Stocks Through a Direct Stock Purchase Plan

Many companies listed on the stock exchange allow you to buy shares directly from their transfer agent, without using a broker. This process cuts out the middleman and can lead to you saving a lot of money in broker’s fees. However, not all companies listed on the stock exchange offer a direct stock purchase plan. To find out whether a company you want to invest in allows investors to buy shares in this way, go to the company website and look for a section titled “investor relations“.

Consider the Direct Stock Purchase Plan Fees

The fees you have to pay to open and use a direct stock purchase plan depend on the company you want to invest in. In general, most direct purchase plans carry a fee for setting up the account, which is usually between $5 and $20. You can also expect to pay transaction fees ranging from roughly $0.03 to $0.10 per share when buying shares and $15 plus $0.12 per share when selling shares.

Decide How Much You Can Afford to Invest and Over What Time Period

Investing in stocks can be a good way to grow your wealth, but it’s important not to overstretch yourself by investing more money than you can afford to lose. Remember that the value of shares can go down as well as up, so you must not assume that you can pull your money out of stock market investments whenever you need the cash. Keep an emergency fund in an instant access bank account so you always have enough money on hand to meet unexpected costs. Next, decide whether you want to invest over the long or short term. Investing over the long term can be a lot more efficient, as you only have to pay fees when you buy or sell shares, not while you are holding them.

Decide How You Want to Make the Payments

Direct stock purchase plans typically accept payments by automatic bank debit or check. Consider how you will make the payments, while ensuring that you always retain enough cash in your bank account to cover your regular outgoing bills, and check that the direct purchasing plan you want to use accepts your preferred method of payment.

Consider Scheduling Your Purchases

One method of investing, which is known as dollar-cost averaging, involves purchasing a small number of shares on a regular basis, such as every week or every month, rather than buying all the shares you want to own at once. This method of purchasing shares can reduce the risk of losing money, as your initial investment is spread over several months, so there is a much lower risk of buying shares while their price is at a high point. Many people regard this to be a much safer method of investing than trying to guess when the share price is at a low point and schedule your buying to coincide with it. Many direct stock purchase plans allow you to automatically schedule your share purchases for every month or week.

Get Advice on Your Investments

Being a successful investor relies on choosing the right shares to invest in. Making the right decision can be the hardest part of investing, so you need to seek out and listen to expert advice. A good starting place is to get advice from Money Morning, which offers regularly updated tips on the best stocks to buy. Follow industry news to find out which companies are predicted to grow, so you can decide which ones offer the most attractive shares.

Conclusion

Investing without a broker can be very financially rewarding, but it also presents risks that you need to take into account. Always plan your investment budgets and schedules carefully and get advice so you don’t make the wrong decisions. When you know which companies you want to buy shares from, check their websites to see whether they offer direct stock purchase plans. Although these plans usually charge small fees, they can be a much less expensive option than purchasing shares through a broker, giving you the opportunity to make more money from your investment activities.

Peter Berry is knowledgeable in trading stocks and shares and enjoys helping others when it comes to investments. He regularly writes about investing, small/startup businesses and technology.

 

More on investing:


Pages:12345678...21