Your Financial Future
Education is important in the handling of your financial
affairs. In a culture as materialistic as ours it is
surprising how illiterate most people are when it comes to
finances. This need not be the case. In fact, learning about
handling money can be fun because of the sense of
accomplishment it brings to you.
The purpose of this page is to dispel the myth that
managing your financial affairs is terribly difficult.
Reading a few good books can provide you with a firm
grounding in the principals of managing your money for the
rest of your life. It is the discipline to do the right
thing with your money that will be the challenge, not a
lack of understanding of the right thing to do.
There are a number of good books on personal financial
planning and investment that can make the confusing world
of finance understandable and enable you to build a solid
nest egg for your future.
A
Bibliography for Smart Students
Mutual Funds
Using mutual funds from the following families you can
built a solid investment portfolio by saving a fixed
amount regularly, (i.e., monthly, by automatic
withdrawal from your checking account). An index fund
should be your starting point and core holding. Common
stocks could also be utilized depending upon your
investment objectives and risk tolerance. You don't have
to set aside a large amount in any one transaction. Just
keep doing it regularly over time and you will be amazed
at how much you can save. Saving in a tax sheltered IRA or
Profit Sharing Plan is even better because your money
compounds tax free. Here are some funds and stocks that I
have purchased that have provided a good rate of return
over the years.
Some Good Mutual Funds
- The Vanguard Group
of Mutual Funds
- Vanguard Index Trust 500 - the core of a good
investment portfolio. This fund invests in each of
the 500 companies that comprise the Standard and
Poors 500 Stock Index. They are some of the
largest and finest companies in the United
States. Many have global operations.
- Vanguard Windsor Fund - a value oriented mutual
fund
- Vanguard Money Market Prime - money market fund
for check writing purposes
- You can purchase common stock using the Vanguard
brokerage service
- The
Nicholas
Family of Funds
- Dreyfus
Funds
- Dreyfus Tax Free Money Market Fund
Some Good Common Stocks
- Wells Fargo Bank
- one of the best commercial banks available. Initially,
common stock was purchased in the Bank of the Northwest
as part of a private placement (a start-up company).
This bank was bought by Pacific Northwest Bank six
years later which was then bought by Wells Fargo Bank a
year later.
- Omnicom -
marketing firm that owns Rapp Collins where Emilie
worked. This company has a convenient DRIP, (dividend
reinvestment plan), which makes it easy to invest in
small amounts by mail.
Managing Your Checking Account & Taxes
- Quicken -
computer software that really helps manage your
checkbook.
- Turbotax
- computer software that really helps with your annual
taxes.
General Investing Information
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