12 Stupid Mistakes People Make with Their Money by Dan Benson

By Dan Benson

Monetary consultant Dan Benson exposes the twelve greatest blunders humans make with their funds and obviously demonstrates how readers can circulate from monetary lack of confidence to monetary freedom. confirmed, useful support for negotiating the monetary minefields of lifestyles.

1. Misuse of credit
2. Letting greed take control
three. contemplating at the present time and never tomorrow
four. Motor toys - the most important money drain
five. Failure to address the "set aside"
6. no longer figuring out what to do with the $
7. no longer taking good care of the "temple"
eight. both an excessive amount of or too little insurance
nine. Following fads vs. staying the course
10. Lackadaisical giving
eleven. Letting Junior consume away your nest egg
12. no longer benefiting from tax breaks

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Her financial planner noted that when her company options are counted in her total portfolio, she is very heavily weighted towards large growth stocks. At the same time, she gets to know a fair amount about the pharmaceutical industry because of her work. She feels she has particular insight into this industry, likes it for the long-haul, and feels she knows when the sector has dipped and is a bargain. In this scenario, our advisors cautioned that any solution to such a duplication problem should involve very careful analysis of a particular investor’s situation.

Index mutual fund investors typically watch their fees very carefully. The whole theory of indexing rests on the notion that trying to pick stocks is pointless, and therefore fees paid to fund managers should be kept to a minimum. 1 shows. Index funds are largely commodities. One S&P-500 fund is pretty much the same as another, although some funds eke out slightly better returns with clever techniques to protect against costly index changes and with better tax accounting practices. Amazingly, a plain vanilla S&P-500 ETF can cost as little as half as much to own as even incredibly cheap S&P-500 mutual funds.

ETFs do an especially good job of this, while small company, smaller sector, and especially single-country ETFs have had problems with tax management. The listing of ETFs in Appendix C provides capital gains distributions for each product. Also, a reading of Chapter 9 provides the foundation for understanding how the fund managers exploit this structural benefit. Mutual funds have tried to keep up with better accounting procedures that allow them to track which stock shares were bought at what time and in what quantity.

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