The Participant Effect

06/04/2020

Adequate insurance coverage is the foundation of a sound financial plan. No matter how well your investments perform, an unforeseen emergency such as a fire, theft or natural disaster may leave you completely unprepared not only to meet the financial needs of your retirement, but your immediate need...

05/18/2020

It’s the biggest purchase most people ever make, and with good planning and some preparation, it can be a solid financial move. If you don’t already own a home, the idea of affording one can seem daunting. And with the national median house price expected to top $270,000 in 2020, just saving for the down payment can be a challenge. But it’s one you can meet with a good plan and some discipline.
While there are various ways to buy a home with less than 20% down payment, many experts don’t recommend doing so. You may be required by your lender to take out Private Mortgage Insurance (PMI) to ensure that they get paid back if you default on your loan. On an average home loan, that 20% down payment equals $54,000. Since the average household has about $8,800 in savings, that’s a big gap to bridge.
Begin planning before you buy — several years before, if possible. Start by researching neighborhoods to find ones you like that are in your price range.
This is also the time to start saving. You’re probably not going to scrounge up $54,000 in a year, but look at your budget and see how much you can save each month.
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04/01/2020

There are steps you can take to start taking control of your fears instead of having fear take control of you.

Sadly, finances are a very common source of worry for many Americans. According to the American Psychological Association’s 2018 Stress in America report, adult survey respondents ranked money and work as top stressors — even above concerns over health or the economy. Money worries can bring wit...

03/30/2020

For most of us, investing is an endurance race, not a sprint.

Marrying and Money: How to Save for a Wedding Submitted by The Participant Effect on March 2nd, 2020 While the cost of nuptials has held steady over the past few years, too many couples are planning to borrow to cover the cost. Here’s how to avoid the debt trap.  Tags: marriage money retirement s...

03/27/2020

Retirement costs can be hard to predict, here are some tips to help tackle that number!

There are many formulas for figuring out how much money you need to retire. Almost all of them can end up being wrong for a variety of reasons.

03/25/2020

Here are some tips and strategies for a happy, healthy and well-rounded retirement.

When planning for retirement, we typically focus on things like asset allocation, 401(k) performance, Social Security and the like. However, there are many nonfinancial aspects to preparing for this exciting phase that can greatly impact your quality of life. Here are some tips and strategies for a....

03/23/2020

Sometimes it can feel like there’s just never a good time to start...

Marrying and Money: How to Save for a Wedding Submitted by The Participant Effect on March 2nd, 2020 While the cost of nuptials has held steady over the past few years, too many couples are planning to borrow to cover the cost. Here’s how to avoid the debt trap.  Tags: marriage money retirement s...

03/20/2020

While the cost of nuptials has held steady over the past few years, too many couples are planning to borrow to cover the cost. Here’s how to avoid the debt trap.

While the cost of nuptials has held steady over the past few years, too many couples are planning to borrow to cover the cost. Here’s how to avoid the debt trap. 

03/16/2020

If you’re feeling a little “wobbly” on your retirement stool, it’s probably a good idea to schedule a meeting with your financial advisor in order to discuss your situation and come up with a plan to get back on track.

The three-legged stool is a metaphor that retirement planners use to describe the three most common sources of income for retirees. At one point in time, the three legs referred to Social Security, pension and personal savings — the multiple sources of income generally needed to achieve a financia...

03/13/2020

Those sensuous, shiny bubbles of sheet metal are seductive. They can also be dangerous to your financial health.

It’s easy enough to get a new car with little or no money down. The allure of the sign-and-drive lease is powerful, especially when the prize is a sizzling red sports car, or, for some, a van big enough that no one has to sit on anyone else’s lap. The master marketers of Detroit and Tokyo can ch...

02/28/2020

Women may face more hurdles when saving for retirement, but with sound advice and proper planning, they can look forward to a happy and secure financial future.

Only 24% of American men feel confident that they can fully retire with a comfortable lifestyle. What’s more concerning is that only 12% of women feel that same degree of confidence.

02/26/2020

If your employer offers a retirement plan, you’re likely making a mistake by declining. Here are a few reasons why.

Saving for retirement is more important than ever. A 401(k) or 403(b) contribution plan is essential to securing your future. Read on to learn more.