The purpose of having an emergency fund is to have cash on hand for unexpected emergencies. The goal is to have cash available for these emergencies rather than having to take out a loan or rack up high-interest credit card debt. Many financial advisors recommend setting aside three to sixth months? worth of living expenses in a savings account. for example, if it costs you $3,000 per month to run your household, you should earmark $9,000 to $18,000. Start setting aside some money from each paycheck even if it?s a …

1. Rob Carrick looks at the possibility of requiring financial advisors to have a fiduciary duty. I think many investors would be surprised to learn that financial advisors don’t have some duty of care similar to a fiduciary duty.2. Larry MacDonald quotes a paragraph from Karl Marx’s writing showing that he did some short-term speculative trading similar to modern day-trading.
3. Preet asks whether your broker’s bond desk is making undue profits on your bond trades. the best protection I know of is to get both the buy and sell price …

Thomas Moran, Managing Director-Investments and founding member of the Moran Asset Management Group of Wells Fargo Advisors
Thomas Moran, Managing Director-Investments and founding member of the Moran Asset Management Group of Wells Fargo Advisors, has been named to Barron’s seventh annual list of America’s top 100 financial advisors. An interview with Moran, who is ranked number 49, is featured in the April 19 issue of the publication.
Moran’s top 100 honor follows his previous recognition by Barron’s in its “America’s top 1,000 Advisors in the United States,” a state-by-state ranking …

By SHEFALI ANAND
People who lose their jobs often think about using a severance package to pay off debts. instead they should focus on conserving cash, says Robert Fragasso, chairman of Fragasso Financial Advisors, a financial-planning firm in Pittsburgh.
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One reason: a job search can take longer than anticipated.
“Cash is king during a period of transition,” says Mr. Fragasso, who advises clients to make minimum payments on credit cards and other debt until they land a new job and to consider raising …

Perhaps you feel a strong interest to the topic of financial planning. There’s no wonder about it because most of people living in this complicated world have to fight a lot to maintain their standard of living. in other words it won’t be my exaggeration if I tell you that we are given birth precisely to hunt for money. Perhaps we can have other purposes in our life but to my great regret in most cases we are mostly concerned with earning our living because it’s a vital necessity for …

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When would you like a tax break — today or tomorrow?
That’s always been the question to answer when deciding between a deductible traditional retirement account (IRA, 401(k), or otherwise) and a Roth retirement account. but this year, even more people are asking that question, since from 2010 onward, current tax law allows anyone to convert a traditional account into a Roth. The converted amount will be added to your income, raising your taxes (either this year or spread over 2011 …

The main objective of any investment is to make money and gain from a profit. Experienced investors usually study market trends before investing. However, inexperienced investors depend on the advice from financial advisors and brokers to guide their investments. Money always grows with time in the stock markets. a successful and profitable investment involves a lot of patience and constant monitoring of market fluctuations. In order for an investment to be profitable, it is important to adopt flexibility and diversification of funds. Listed below are some important points-to-remember:
Flexibility: Investors need …

ByBen Steverman
Workers approaching retirement are often told by experts that they will need only about 80% of their income after they stop working to maintain the same lifestyle.
After all, expenses fall when retirees don’t need to dry-clean their work wardrobe and commute every day. And they have more time to shop for deals and handle house and yard work themselves. presumably, the children are out of the nest or have their own financial flight plan.
The problem is that many retirees soon discover the 80% rule of thumb doesn’t work. “I’m …

Retirees must adjust to new economic realities. Here, based on suggestions from financial advisers, are strategies to cut costs
ByBen Steverman
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Workers approaching retirement are often told by experts that they will need only about 80% of their income after they stop working to maintain the same lifestyle.
After all, expenses fall when retirees don’t need to dry-clean their work wardrobe and commute every day. and they have more time to shop for deals and handle house and yard work themselves. Presumably, the children are out of the …

In an effort to capitalize on what some have dubbed “the Year of the Roth,” Huntington Bancshares’ wealth management arm is planning a direct-mailing campaign for a targeted group of customers.
The Columbus, Ohio, banking company plans to target about 4,000 customers of its Huntington Investment Co. that have Individual Retirement Account assets. Belinda Sherman, a senior vice president and national sales manager at Huntington Investment Co., said after the direct mailing, the unit’s 150 financial advisors will follow up with clients individually to discuss the benefits of converting.
Analysts said 2010 …