Most people understand the concept of inflation. Beating inflation is also one of the most common investment goals when people have extra cash sitting in the bank. This week, I would like to share with you an article from Dimensional Fund Advisors, one of our strategic partner. It shows you the actual impact of inflation over a person's lifetime and the trade-off between merely outpacing inflation and growing wealth. Enjoy reading!
Unlike a comprehensive financial plan which covers so many topics and can easily take an experienced professional many hours to create, an investment plan for a regular investor is relatively straightforward. This week I will give you some general guidance on how to create a simple investment plan for yourself. For people having someone managing their investments, it could also help you evaluate your current plan and see whether you are getting the knowledge and service you are paying for.
Many companies offer group life insurance as an employee benefit. Some of you may even forget having such a benefit through your employer. However, is it a good deal for everyone? This week I will give you some general guidance on determining whether you should opt-in this benefit.
Like many of you, I am a huge fan of the sign-up bonus offered by credit card companies. I don't consider myself as a credit card churner who is trying to get the bonus by opening and closing credit card accounts consistently. I only open new credit cards when I have large purchases or a travel plan. We haven't spent money on hotels for years not even for the five nights at one of the best hotels in London for our honeymoon and multiple short trips in the U.S. Again we are planning to have a trip to the Walt Disney World in Orlando this year for free. I always joke that the value of a travel hacking technique like proper arrangement to get sign-up bonus can easily justify our financial planning fees.
There are tons of resources online about how to maximize credit card points and miles, how to make a fancy trip for free, and many other travel hacking and credit card churning techniques. As a financial planner, instead of focusing on those very motivational things, I would like to remind you of four things that can be easily overlooked when churning credit cards. I will also share with you some of my own lessons and tips that I learned over the years.