Mr. C’s Financial Tip of the Week: Create a Plan

financial success next exitTypically I say “tips” are for the wait staff, but this collection of “tips” is the real deal. There’s nothing behind it. You know I have no agenda because I’m not licensed to sell anything. I’m a Consumer Advocate who is trying to help You make smart decisions. That is what I do. Once a week I’ll be putting out a financial or credit tip to help you out! You can view my full list of Financial Tips here

So without further ado, here’s my tip of the week:

Create a Financial Plan.

Whatever you do, DO NOT try to pick stocks, bonds or mutual funds on your own. The easiest and most effective thing you can do is buy a low-cost ETF (the IVV is what I buy) which mirrors the overall market. Buy a consistent amount of that security every month and let the laws of dollar-cost-averaging and dividend reinvestment do the heavy lifting. It does not matter how much you’re investing each month, this has proven to be the most consistent and highest-yielding strategy that exists. It’s also simple, hands-off and stress-free.

If you’re looking for more tips or financial advice you’ll want to check out my show Talking Money with Mr. C, airing Sunday’s from 1-3 PM on KFMB 760 AM. You can find a podcast page full of our past shows here.Check us out this Sunday for all the latest and greatest information on the state of the financial marketplace.



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