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Financial Planning Archives - Wealthspire

Oct 27 2021
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investors just starting out

3 Financial Skills for Investors Who Are Just Starting Out

By Blog
When starting out, knowing how to manage your money can feel daunting. In this post, we will offer simple steps to help you begin taking control of your financial life. #1: Set Priorities and Goals When you get your first paycheck, it is easy to want to spend it all right away, but what are all the things you should be putting your money toward with these limited resources? Strategies to help you save regularly and effectively: Automatically direct a portion of your paycheck to your separate savings account. Studies show that if you don’t see the money, it makes…
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Oct 14 2021
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Capital Gains

Financial Dictionary
What are Capital Gains? Capital gains are the difference between a security’s purchase price and its selling price, when the difference is positive and sold at a profit. When it comes to mutual funds, capital gains may also be realized without selling the security as a distribution of gains the fund has made and pays out to shareholders. Capital Gains Calculator To determine capital gains, subtract your basis (what you paid), from the amount realized (how much you sold it for). The difference is your capital gain if it is a positive number, or capital loss if it is negative.…
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Oct 14 2021
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Money Market Fund

Financial Dictionary
What is a Money Market Fund? A money market fund is a mutual fund with investments in high-yield money market instruments such as federal securities, CDs, and commercial paper. The intent is to make such instruments (normally purchased in large denominations by institutions) available indirectly to individuals. Are Money Market Funds a Safe Investment? Money markets are relatively safe because money in these accounts is invested in low-risk, short-term securities. Money market funds are still susceptible to volatility and although it may be lower than other vehicles, there is still some risk involved. How Does a Money Market Fund Work?…
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Oct 14 2021
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stocks covid

Mid-Cap

Financial Dictionary
What is a Mid-Cap Stock? Mid-cap refers to the market capitalization of stocks of companies with market values between $2 and $10 Billion. Companies and their stocks are generally classified, based on valuation size, as large cap, mid-cap, or small cap. Are Mid-Cap Stocks a Good Investment? Mid-caps are appealing because they split the difference between the risks and rewards of small cap and large cap stocks. They can be a better investment than small cap stocks because they’re historically more financially stable and established. Mid-cap stocks may also be a better investment than large cap because they have more…
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Oct 13 2021
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lifestyle creep

3 Tips to Help Junior Partners Avoid Lifestyle Creep

By Blog
Lifestyle creep, or lifestyle inflation – when expenses rapidly rise to match newfound income – ensnares countless newly minted partners. Often there are underlying social pressures from peers or colleagues to keep up with new levels of conspicuous consumption. New indulgences and one-time splurges quickly become everyday necessities. It may begin innocently enough with a new car, a small remodel to an existing home, or a generous contribution to one’s alma mater, but it can quickly snowball into completely spending bonus checks before they’ve even been deposited. So, who cares? After all, you’ve sacrificed a lot to get where you…
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Sep 17 2021
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Exchange Traded Funds (ETFs)

Financial Dictionary
What Is an ETF? Exchange-traded funds are very similar to mutual funds, except that they trade throughout the day on stock exchanges as if they were stocks. This means you can actually pay more or less than the value of the underlying holdings in the fund.  What Is the Difference Between an ETF and a Mutual Fund? While mutual funds track indexes, they are actively managed by an investor buying or selling assets within the fund. ETFs are mostly passive and aren’t managed, and they track a specific market index, like the S&P 500, to try and match their performance.…
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Sep 17 2021
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college savings

Blue Chip

Financial Dictionary
Blue Chip Meaning A blue chip is a high-quality, relatively low-risk investment; it usually refers to stocks of large, well-established companies that have performed well over a long period of time. The term is originally from poker, where the blue chips are the most valuable. What Is a Blue Chip Company? Blue chip companies are well-established, financially stable, and less risky to invest in. They are seen by investors as reliable and profitable as these companies perform well not only in good financial situations, but also in bad ones. Examples of blue chip companies are AT&T Inc., Bank of America,…
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