The Key To Your Lifelong Success

Financial planning is not limited to asset allocation, mutual funds, and fixed-income investments – planning should include every aspect of your life.

Should you apply for that credit card? What type of car insurance should you buy? Should we save for our child’s college or put money in our IRA’s instead? These and many more questions are all part of financial planning.

The Larry Rule – A Little Known Financial Planning Fact

Larry Lindsey is not a famous name, even in financial circles. Currently, Mr. Lindsey is the chief economic advisor to the Bush Administration. In 1996, he was a Federal Reserve Board Governor – and he was denied for a Toys ‘R Us credit card!

To apply or not to apply, that is the planning question. Larry Lindsey, who had excellent credit and a high-income level, set out to demonstrate a flaw in credit scoring algorithms.

He simply applied for every retail store credit card he was offered, and in no time he had “too many inquiries.” Never mind the fact that he had millions in assets and nary a late payment in his 30-year credit history.

Knowing the Larry Rule is key to your financial planning. If you apply for retail store credit cards every time you are asked to do so, it will have negative effects on your credit.

You may then be asked to pay a higher interest rate on your mortgage or home equity loan, which could cost you tens of thousands of dollars. Sacrificing $10,000 for a 10 percent discount at Fashion Bug is not smart planning!

Auto Insurance and Financial Planning

Most people think of insurance as a legal necessity, but in reality, it is a financial product, and that’s important to keep in mind. Don’t ever buy insurance just because it’s legally required or in order to give yourself peace of mind. Insurance must serve a financial planning purpose!

You need to have a planning strategy in mind when you purchase auto insurance. The insurance company’s goal is to get you to pay more in premiums than you take out in claims – thus, they profit.

Your goal should to pay as little in premiums as possible in order to be adequately covered. You don’t want to have to use your auto insurance, but at the same time, you don’t want to be subsidizing the bad drivers who take out more in claims than they pay in.

In order to develop a financial planning strategy for auto insurance, it’s important that you become as educated as possible on the subject. Luckily, there are dozens of great sites on the internet that provide free information on the various types of auto insurance plans, and the particular laws of your state.

Everyone has to own some form of auto insurance, and thus it should be the cornerstone of any intelligent planning strategy.

The Financial Planning Dilemma – College vs. Retirement

American parents love their children and will do almost anything to ensure they have every possible advantage. As a result, many parents save for their children’s college instead of saving for their own retirement. This act of selflessness is usually not a good planning strategy.

In order to avoid this mistake, one must have a decent understanding of financial planning tax implications. Most college savings accounts are taxed on some level, whereas financial planning products for retirement purposes generally are not. What’s more, saving for your child’s college can prevent him or her from receiving the maximum financial aid available.

In other words, by foregoing your retirement in favor of your child’s college, you are actually subsidizing the children of less responsible parents – or smarter parents who chose to save for their own retirement, in light of these facts.

College savings plans normally make financial planning sense only for parents with such high incomes that their children would not qualify for financial aid.

Kitchen And Bathroom Renovation Services

Well-resourced with the advanced interior design and timeless dcor, a dream home is perfect in every sense. It is important for homeowners to maintain their houses by renovating them periodically. However, many people lack information on what to do and how to go about the whole procedure. With a team of experts and skilled general contractors perform kitchen and bathroom renovation in West Island and other parts of Canada with utmost precision. There are few factors which one needs to consider before hiring any services related to renovation work.

Selecting a Professional Kitchen and Bathroom Renovation Company is Essential

One needs to understand the entire procedure that is required to complete the work in an effective manner. For this, it becomes imperative to seek the help of professional renovation services. One must do a thorough research about the shortlisted company. Once a proper research is done, one can hire a reputed company that would provide quality results.

Experience and Expertise of the Service Provider Plays an Integral Role

With numerous companies providing the top-notch services related to kitchen and bathroom renovation in West Island, it is essential to select renowned providers. One must avoid hiring companies who have no authorization. Research is the key to choosing the best company for any renovation project.

The overall Expenses of Kitchen and Bathroom Remodeling Services

There are several options available in the market; it would be prudent to do the research on the overall expenses of the services. While comparing different services, one will be in a position to make a wise decision. Many times the most reasonably priced option is not the best one for the required task. Choosing the best Montreal Kitchen and Bathroom General Contractor for the job may allow substantial saving on the entire project.

The Efficiency and Productivity of Services

When looking at various services, it is integral to finalize the company that will provide premium-quality facilities at economical prices, ensuring that the remodeling work would enhance the overall looks of one’s house. In addition, it is crucial to read any reviews of their previous clients as it can help evaluate their productivity and effectiveness. One must have a set plan for all the renovation work.

Trends are shifting fast and people are ready to invest in their dreams. Gone are the days, when having a home used to be the only dream of people. Now, everyone wants to give every section of his or her home a new, redefined and timeless appearance. The Kitchen and bathroom general contractor in Montreal and Kitchen renovation in West Island are a big design of the fact that people are not limited to have classy and trendy living rooms. These companies are specialized in construction, designing and renovation in major segments of your home such as bedroom, dining room, living room, kitchen, bathroom etc