David E. Barfield, CFP®
@DatapointFP
Hourly Financial Planner and Founder of Datapoint Financial Planning. Simply pay for the time you need when you need it.
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From MarketWatch Picks: "The finance industry knows how to make money. These little fees add up to big dollars and are killing people with and without wealth," one pro weighs in. trib.al/ewjs9Ao
marketwatch.com
I’m ‘clueless’ about investing. Is hiring a financial adviser worth it though?
Have an issue with your financial adviser or looking for a new one? Email questions or concerns to [email protected].
⏰ Should you hire a financial advisor who charges an hourly rate? Get to know advisors featured on Wealthtender. Currently in the Spotlight: 1️⃣ @mfraimondi 2️⃣ Chad Bester 3️⃣ @emboldenfp 4️⃣ @DatapointFP #hourlyfinancialadvisor #financialadvisors wealthtender.com/insights/finan…
For the vast majority of investors, a diversified portfolio of low-cost index funds is all you need to build wealth and achieve financial freedom.
Top three financial regrets of retirees, according to Consumer Affairs: 1. Failing to save and invest earlier in their career 2. Failing to save more of their income 3. Failure to pay off debts before retirement Avoid these mistakes while you still have time!
If you want to build wealth, the formula is simple: Save first and live on what’s left If you do it the other way around, there won’t be anything left to save.
If your 401k allows after-tax contributions, you have access to one of the best retirement savings strategies out there...the Mega Backdoor Roth. The strategy can be complicated, but it's worth the effort! Dun & Bradstreet and Altria have this option. Maybe your plan does too.
Saving for retirement and haven't thought about healthcare yet? Learn to minimize your lifetime tax bill with a Health Savings Account from Daniel Haines, CFP®, CFA; David E. Barfield, CFP® (@DatapointFP); and Alvin Carlos, CFA, CFP® (@alvindcm). hubs.ly/Q01PHb010
Rental real estate is a great way to build wealth and improves most financial plans if used correctly. But it's a business. Even if you hire a management company, it's never truly passive. It requires work to be successful.
"Investing is a virtuous habit best started as early as possible. Enjoy the magic of compounding returns. Even modest investments made in one's early 20s are likely to grow to staggering amounts over the course of an investment lifetime." - John C. Bogle
John C. Bogle quote of the day: "Enjoy the magic of compounding returns. Even modest investments made in one's early 20s are likely to grow to staggering amounts over the course of an investment lifetime."
Another great quote from the father of index investing: "Time is your friend; impulse is your enemy." - John C. Bogle
"Stocks are a safe bet, but only if you stay invested long enough to ride out the corrections." - Peter Lynch
"When you sell in desperation, you always sell cheap." - Peter Lynch
Peter Lynch quote of the day (and I especially like this one): "In the long run, it’s not just how much money you make that will determine your future prosperity. It’s how much of that money you put to work by saving it and investing it."
Peter Lynch quote of the day: "An important key to investing is to remember that stocks are not lottery tickets."
Peter Lynch quote of the day: "You get recessions, you have stock market declines. If you don't understand that's going to happen, then you're not ready, you won't do well in the markets."
Peter Lynch quote of the day (from "Beating the Street"): "If you’re prepared to invest in a company, then you ought to be able to explain why in simple language that a fifth grader could understand, and quickly enough so the fifth grader won’t get bored."
Peter Lynch quote of the day: "Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves."
Peter Lynch quote of the day: "The key to making money in stocks is not to get scared out of them."
Peter Lynch quote of the day: "If you spend more than 13 minutes analyzing economic and market forecasts, you’ve wasted 10 minutes."
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