Do you need a financial advisor to manage your investments? How do financial advisors make their money? According to financial blogger J. L. Collins, most people don’t need a financial advisor to manage their personal finances. Further, he argues that financial advisors are costly at best and rip-offs at worst. They profit from people’s insecurities by making investing seem complicated and intimidating. Here is why you’ll be better off managing your investments yourself, without the help of a financial advisor.
What Is the Difference Between Stocks and Bonds?
What is the difference between stocks and bonds? How do they generate profit for investors? The main difference between stocks and bonds is how they generate income for investors. Stocks do so by growing in value over time—they are later sold in the stock market. In contrast, bonds pay back your money plus interest over a specified period of time. In this article, we’ll explain the basics of investing in stocks versus bonds, how they work, and what their associated risks are.
Should You Get a Credit Card?—The Pros and Cons
Should you get a credit card? Why do some personal finance advisors discourage young people from getting credit cards? Credit cards have somewhat a bad rap: many personal finance gurus urge people (especially young people who don’t have financial stability) to stay away from them. But credit cards aren’t inherently bad—if you use them responsibly, they’re a great way to proactively improve your credit and get access to useful perks. In this article, you’ll learn the pros and cons of credit cards, how to use credit cards responsibly to build your credit, and how to find the right credit card
2 Failproof Techniques for Opening a Sales Pitch
What is the best way to open a sales pitch? How can a successful opening get you closer to closing? A sales pitch opening is like a first impression in a social exchange: it determines how the rest of the interaction is going to unfold. A good opening will plant the seeds for a strong closing, giving you a much higher percentage of successful sales. In this article, we’ll take a look at two opening techniques: 1) the “fair exchange” opening, and 2) the qualified opening.
Why You Should Invest in Index Funds: Grow Rich
What exactly is an index fund? How do index funds differ from other mutual funds? An index fund is a type of mutual fund containing stocks chosen to replicate the market’s performance. In contrast, actively managed mutual funds are stocks chosen and managed by professionals who attempt to outperform the market. Here is why you should invest in index funds.
The Psychology of Selling by Brian Tracy: Overview
What is Brian Tracy’s The Psychology of Selling about? What do successful salespeople do differently? In The Psychology of Selling, bestselling author and management consultant Brian Tracy explains how you can become a top salesperson by understanding how your customers think. He walks you through basic and advanced selling techniques, demonstrating how you can dramatically increase your sales success by improving your skills just a little bit on a consistent basis. Below is a brief overview of the key points from The Psychology of Selling by Brian Tracy.
The 3 Main Types of Asset Classes: Investing Basics
What are assets in the context of investing? What are the three main types of asset classes? Asset classes are the building blocks of investing. Asset classes are simply types of investments (like stocks or bonds), and each asset class has varied assets within it. For example, “stocks” is an asset class composed of all kinds of different stocks: large companies, small companies, international companies, and so on. In this article, you’ll learn about the three main types of asset classes and how to allocate and diversify your investments between them based on your age and risk tolerance.
“F-You Money”: The Key to Financial Security
Are you tired of being a victim of your financial circumstances? Have you considered saving for your “F-You Money”? If your financial circumstances are still dictating your life, it’s time to start saving your “F-You Money.” The term “F-You Money” comes from James Clavell’s 1981 novel Noble House. Later, financial blogger J. L. Collins used the concept in his book The Simple Path to Wealth where he outlines a simple prescription that helped him and his family retire early and live off their investments. Here is why you should start saving for your F-You Money, and the sooner you do
I Will Teach You to Be Rich: Quotes by Ramit Sethi
Are you looking for Ramit Sethi quotes from I Will Teach You to Be Rich? What are some of the most noteworthy passages worth revisiting? Ramit Sethi is a self-taught expert in personal finance whose goal is to help you cut through the noise of conflicting and overly technical financial advice, get past your own hang-ups around money, and take small steps toward a “rich life”—whatever that looks like for you. To this end, he wrote I Will Teach You to Be Rich—to demystify personal finance management by teaching actionable strategies to those who are just starting their financial journeys. Below
The 6 Kinds of Customers and How to Sell to Them
What are the six kinds of customers? What are their key characteristics? According to Brian Tracy, the author of The Psychology of Selling, there are six types of customers every salesperson should know about: 1) the reluctant customer, 2) the certain customer, 3) the analytical customer, 4) the relationship customer, 5) the directive customer, and 6) the social customer. To consistently close sales, you have to know how to tailor your sales pitch to each of these six types. In this article, we’ll take a look at the characteristics of each of the six types of customer and how can