11 Ways to Get Free Financial Advice

Many investors want to save for retirement, a house down payment, college, or other financial goals, but they’re unsure how to start. Even those who have been saving for a while don’t know if they’re doing it correctly. The good news is that financial advice doesn’t have to cost a lot of money. To help you reach your financial goals, we collected a number of free strategies to reduce expenses, save more, and invest better.

1. Online brokers

Online brokers make it affordable for the average investor to buy stocks, bonds, mutual funds, and other investments. Many online brokers offer discounted or free commissions without requiring a large investment balance. While you won’t have a dedicated investment advisor, their sites typically have free financial lessons to help you become a better investor.

TradeStation is an online brokerage platform that allows customers to buy stocks, mutual funds, and ETFs. Customers can also trade options, futures, and cryptocurrency. The company features a trading simulator where you can learn and test out investing strategies in real time or by using historical data without risking a single dollar. It also offers powerful tools, market research, and advanced educational resources to improve your trading skills and grow your portfolio.

TradeStation

Online trading fees

$0 stock & ETF trades.

$0.60/contract options trades.

$1.50/contract futures trades.

$14.95 mutual fund trades.

2. Investment advisors

Investment advisors recommend investments that match your financial goals. They typically charge commissions or advisory fees in exchange for their services. As part of these services, you can ask them questions about investments, retirement plans, and other related topics.

J.P. Morgan Wealth Management is one of the most well-known names in the financial services industry. Not only do its advisors provide financial advice; its Chase Bank subsidiary also offers a full-service bank to handle

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Pivot Your Financial Mindset When Scaling Your Small Business

The disparity in scaling between women-owned and adult men-owned businesses has grow to be a topic of important scrutiny. Irrespective of the amazing progress of females-owned enterprises in current a long time, a puzzling pattern persists: women-owned businesses normally struggle to scale at the similar amount as their male counterparts.

Making a small business profitable normally takes much more than building it lucrative. Comprehension and approaching funds from distinctive perspectives will help the 12.3 million women of all ages-owned corporations defeat the odds.

Accomplishment prices among providers exhibit that 20% of new corporations fail all through the initially two several years of getting open, 45% through the first 5 decades, and 65% all through the first 10 decades, in accordance to the Bureau of Labor Statistics. Only 25% of new businesses make it to 15 a long time or more.

1 sizeable strategy to maximize these quantities is to target on enterprise financing, especially when scaling and pivoting the financial models.

Far more FROM FORBESRH Capital Invests In 90% Girls, BIPOC Founders In Women’s Wellbeing

Produce Your BAIL Team

Surrounding by yourself with individuals that will support and guideline you is essential. However, your BAIL workforce will be most very important when scaling a company.

Val Jones, SVP, senior direct tactic advisor at Wells Fargo, prospects small organization enhancement for girls-owned companies. She has witnessed the significance of this variety of support staff for entrepreneurs. She shares, “Your BAIL staff is a team of gurus that you have all around you to enable you have the right information and facts

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Financial advice: 5 reasons to avoid mutual funds

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Usually, mutual money have stood as a go-to financial commitment approach for people seeking to grow their wealth with no the effort of inventory-buying.

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Mutual cash promise diversification, professional administration, and the simplicity of owning somebody else navigate the complexities of the industry and are typically represented as a fantastic auto for “hands-off investing.”

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If you walk into most banking companies in Canada and are hunting to devote revenue, the companies will usually advise that you obtain a mutual fund.

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Nonetheless, in my working experience and if you dig into the knowledge, mutual money often aren’t the golden ticket they’re manufactured out to be, specifically in Canada. Underneath, I’ll describe a little bit a lot more about how mutual money operate and make clear why they may not be the very best choice of expense.

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How do mutual money work?

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Mutual money are financial investment vehicles that pool dollars from a number of buyers to obtain a diversified portfolio of stocks, bonds, or other securities.

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They’re managed by expert fund managers, who are dependable for rising the portfolio to achieve benchmark targets (or to at the very least attempt).

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Those people who invest in mutual resources purchase shares or units, which characterize a portion of the holdings of the fund. The benefit of these shares fluctuates with the functionality of the fund’s underlying belongings.

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Earnings are acquired in the form of dividends on shares and desire on bonds held by the fund, and from money gains when securities in the fund’s portfolio increase in value.

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Traders can purchase or sell their shares at the fund’s existing internet asset price, which is calculated at the finish of every investing working day.

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Explanations to keep away from mutual money

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At

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Financial Planning: A Step-by-Step Guide

What is a financial plan?

A financial plan is a comprehensive picture of your current finances, your financial goals and any strategies you’ve set to achieve those goals. Good financial planning should include details about your cash flow, savings, debt, investments, insurance and any other elements of your financial life.

Get unlimited, one-on-one financial advising from an experienced advisor.

Access to a Certified Financial Planner™ via calls or messaging
Custom financial plan tailored to your situation and goals

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What is financial planning?

Financial planning is an ongoing process that looks at your entire financial situation in order to create strategies for achieving your short- and long-term goals. It can reduce your stress about money, support your current needs and help you build a nest egg for goals such as retirement.

Creating a financial plan is important because it allows you to make the most of your assets and gives you the confidence to weather any bumps along the way. You can make a financial plan yourself or get help from a financial planning professional. Online services like robo-advisors have also made getting assistance with financial planning more affordable and accessible than ever.

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Investment Advice and Side Hustles Top of Mind as Gen Z and Millennials Seek Greater Financial Security: BMO Survey

  • A quarter of Canadians feel less financially secure now than they did last year, but 72 per cent remain optimistic about their financial future for the year ahead

  • Nearly half of Gen Z and Millennials are seeking advice on investing and how to grow the money they have

  • 54 per cent believe digital banking tools and tips play an important role when managing money

TORONTO, Sept. 13, 2023 /CNW/ – This quarter’s BMO Real Financial Progress Index reveals young Canadians are increasingly seeking guidance on side hustles, how to grow their money and achieve financial security amid concerns about rising interest rates, inflation, and economic uncertainty. Among personal finance topics, the survey found Gen Z (ages 18 to 24) and Millennials (ages 25 to 44) are most interested in learning how to grow the money they have and diversify their sources of income:

  • Financial Anxiety: Concerns about their overall financial situation are the leading source of financial anxiety among Gen Z (90 per cent), as well as younger (ages 25 to 34) (88 per cent) and older (ages 35 to 44) (86 per cent) Millennials.

  • Learning to Grow: Younger Millennials are the most likely generation to seek advice on how to grow the money they have (56 per cent), followed by Gen Z (47 per cent) and older Millennials (47 per cent).

  • Passive Income for an Active Generation: Nearly half of Gen Z (46 per cent), as well as younger (46 per cent) and older Millennials (50 per cent), are interested in advice on investment strategies.

  • The Side Hustle Generation: Nearly half (48 per cent) of younger Millennials are looking for more information on how to generate other sources of income, followed by Gen Z (40 per cent) and older Millennials (36 per cent). Only 23 per cent of

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