Blog - North Light Financial Services

The Importance of Financial Literacy

The Importance of Financial Literacy Too few Americans understand personal finance fundamentals. If only money came with instructions. If it did, the route toward wealth would be clear and direct. Unfortunately, many people have inadequate financial knowledge, and for them, the path is more obscure. Are most people clueless about financial matters? That depends on what gauge you want to use to measure financial knowledge. The U.S. ranked fourteenth in Standard & Poor’s 2015 Global Financial Literacy Study, with just [...]

By info@northlightfinancialservices.com|2017-09-11T08:42:35-04:00September 5th, 2017|Business/Economic News, Investing, Personal Finance|Comments Off

Having the Money Talk with Your Children

Having the Money Talk with Your Children How much financial knowledge do they have? Some young adults manage to acquire a fair amount of financial literacy. In the classroom or the workplace, they learn a great deal about financial principles. Others lack such knowledge and learn money lessons by paying, to reference William Blake, “the price of experience.” Broadly speaking, how much financial literacy do young people have today? At this writing, some of the most recent data appears in [...]

By info@northlightfinancialservices.com|2017-08-21T08:43:40-04:00August 17th, 2017|Financial Fitness, Personal Finance, Saving & Budgeting|Comments Off

The Rough Consequences of Not Saving for Retirement

The Rough Consequences of Not Saving for Retirement Do you really want to risk facing these potential outcomes? Saving for retirement may seem a thankless task. But you may be thanking yourself later. Putting away a percentage of one’s income, money that could be used for any number of bills or luxuries, is a sacrifice made in the present in order to avoid a larger trouble down the road. More than a quarter of seniors have no retirement savings. To [...]

By info@northlightfinancialservices.com|2017-08-04T11:01:19-04:00August 3rd, 2017|Financial Fitness, Investing, Retirement, Savings and Investing|Comments Off

Why Retirees Need Good Credit Scores

Why Retirees Need Good Credit Scores Careers & businesses end, but the need to borrow remains. We spend much of our adult lives working, borrowing, and buying. A good credit score is our ally along the way. It retains its importance when we retire. Retirees should do everything they can to maintain their credit rating. A FICO score of 700 or higher is useful whether an individual works or not. For example, some retirees will decide to refinance their home [...]

By info@northlightfinancialservices.com|2017-07-20T10:29:28-04:00July 20th, 2017|Personal Finance, Savings and Investing|Comments Off

What You Need to Know About the Fiduciary Rule

What You Need to Know About the Fiduciary Rule A quick look at the changes coming for retirement accounts. Rules are changing concerning investment professionals and retirement accounts. In the eyes of many, the change is good. The “fiduciary rule” is going into effect in June. This Department of Labor rule stipulates that any financial industry professional who makes investment recommendations to participants in qualified retirement plans in exchange for compensation will be considered a fiduciary. What does all that [...]

By info@northlightfinancialservices.com|2017-07-13T12:01:16-04:00July 6th, 2017|Business/Economic News, IRA, IRA Rollover|Comments Off