How can you determine how much life insurance you need?

Here is a simple formula but like anything else it can change based on your individual circumstances 1.Multiply your salary X 10 2. Add in the dollar amount of any large future expenses (Ex: College Costs) 3. Add any debt you would like to cover (Ex: mortgage, car loan, home equity loan) 4. Subtract any…

The horrific returns of the average investor

The numbers do not lie. This is the result of three things: 1. Buying high and selling low 2. Not Diversifying (How did that Gold portfolio work this year/) 3. Leaving all of your money in cash. Be honest and evaluate yourself. If you are guilty of one of these three wealth destroyers.. CHANGE!!

“Don’t be like The Wolf of Wall Street”-Leonardo DiCaprio

Maybe you should have thought of this before you made the movie. Oliver Stone felt the same way about Gordon Gekko when he filmed Wall Street. He did not realize he created the motivating character for the Jordan Belforts of the world. In investing this is called unintended consequences. Like they say those who do…

Who were the rich and famous that were scammed by Bernie Madoff?

Take a look at the list. These people are all pretty bright. Unfortunately they lacked financial literacy and paid a devastating price. The promise of 10% a year risk free returns is an illusion. They all fell for it.