7 Financial Tips From a Leading Expert

7 Financial Tips From a Leading Expert

By Tom Anderson, CEO

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Build a free financial plan to get customized recommendations, or check out these seven tips that you can glean from the wealthy & easily implement today:

  • Reduce your cybersecurity risk
  • Eliminate expenses & fees
  • Right-size your insurance
  • Get a Will!
  • Simplify & automate investing
  • Use debt wisely & strategically
  • Get a financial plan, and update it regularly


Reduce cybersecurity risk

You should protect your money & identity by taking three simple steps:

  1. Use a password protection app.
  2. Use a credit monitoring service with dark web surveillance.
  3. Use the "Best App for Investors" to see all your accounts in one place..

Don’t have all three? You’re not alone. 85% of people are in the same boat.


Eliminate fees & expenses

Wealthy people don’t pay fees on their bank accounts. Yes, changing bank accounts is a bit of a hassle. But, our average user can save about $400 per year by switching accounts.


Right-size your insurance

Our data shows most people have way too much, or too little, insurance. Both are expensive, in different ways.

  • Life Insurance: Term Life Insurance is generally best, and cheaper than you think. You can get a life insurance quote online in minutes while staying 100% anonymous.

  • Home & Auto: The market is very competitive and you should get a quote once a year. You can compare home and auto rates, from multiple insurance providers in a matter of minutes.


Get a Will

70% of people don’t have an updated will. Having a will is essential if you are married or have children.

Fortunately, getting a will has never been easier. You can get a will in minutes, from home, through a guided process.

Have kids? Your kids need guardians.


Simplify & automate investing

Think the wealthy use complicated investment strategies? Wrong. Most wealthy people rarely trade stocks. Instead, they place the majority of their money in low-cost index funds.

The best investment strategy for most people is one that is simple and automated. We provide detailed suggestions in our free financial plan.


Use debt wisely & strategically

Debt is like cholesterol: there are good and bad types.

  • Get rid of bad debt. Consolidate your debt that has an interest rate above 8% with a personal loan. Getting your rate won't impact your credit and takes less than 1 minute.

  • Refinance your student loans.

  • Keep good debt (like a mortgage). Make the required payments but instead of paying down more, build up your savings. Now is the time to refinance.


Get a financial plan

Big surprise: almost all wealthy people have a financial plan. A good financial plan is simply a checklist of things to do with solid supporting information on “why”.

Most wealthy people have quarterly reviews. They run a plan, review their to-do list, take action, and don’t worry about things until the next quarter.

Fortunately, you can too. Get unbiased guidance, a personalized to-do list, and more.

Build your free financial plan today


Related Articles:

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Additional Terms & Conditions : See Terms of Use for details and disclaimers on figures used in this article. Please note: This site is for education purposes. This site does not contain personalized advice. This site lacks sufficient detail and disclaimers for you to make any actionable decisions. You will use the information for thoughtful conversation with your advisors to determine how these ideas may or may not relate to your unique situation, personal needs, goals and risk tolerance. With respect to recommendations, your savings, needs, or experience may be different from our other users. Past performance does not guarantee future results. All strategies have risks. These risks are not fully disclosed on this site. You must evaluate these risks with your professional advisors. You may not qualify for the products featured in this article. Rates, terms and qualification are subject to our partners' terms and conditions, which may be found on their respective sites.