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Getting Rich the Right Way -- Slowly

Written by Tim Decker, AIF®. Posted in The Patriot News

Snail-goes-slowQ: I'm frustrated with my portfolio. It's growing – but too slowly. How can I speed it up?

A: Aside from investing more, you may not want to do anything differently because, other than just being lucky or receiving an inheritance, there's really no way to get rich quickly. When you attempt to do so by speculative investing, you substantially increase the risk of financial devastation. The key is to build wealth prudently and slowly over time, using evidence-based, tried and true strategies.

Some studies show that many people known as high-net worth investors – those with investment assets totaling more than $3 million – who rise from middle-class or poor backgrounds, most often do so by building their wealth gradually.

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Remember This When Buying, Selling a Home

Written by Tim Decker, AIF®. Posted in The Patriot News

house-for-saleQ: I have friends who have made major mistakes when buying or selling homes.

What are some ways I can avoid this?

A : There are many pitfalls to avoid when buying or selling. The decisions you make in both pursuits can have a major impact on your financial condition for years to come, so you can't make these decisions too carefully.

If you're buying

Here are some key issues you should consider to make the right decisions:

1. How long do you plan to be in your new home? If there's a good chance you'll move within seven years, perhaps because of your job, the costs involved might make this a better time to rent than buy.

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Take Steps to get the Most out of your 401(k)

Written by Tim Decker, AIF®. Posted in The Patriot News

Steps to successQ: Can you offer advice on things people should know about 401(k) plans?

A : Sure. How much money you have in your 401(k) account when you retire depends in part on how you handle it (the choices you make), having a solid plan for managing it and the degree of discipline you bring to this challenge.

These plans are how most Americans save for retirement. They enable people to invest pre-tax dollars, and these contributions can take the sting out of saving money by lowering your tax bill in the years that you earn them. For many people, this is highly advantageous because they're in a lower tax bracket after retiring than during their working years. For those contributing to a Roth 401(k) account (offered by some employers), withdrawals at retirement can be tax-free, but taxes must be paid on this income in the years that you earn it.

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Avoid These Mistakes When Seeking a Mortgage

Written by Tim Decker, AIF®. Posted in The Patriot News

Business of Home BuyingQ: We want to buy a bigger home and are bewildered by the mortgage process. How can we make this easier?

A: That's a question that many people need answers to these days as they begin to house hunt. Stung by the mortgage crisis that ushered in the Great Recession of 2008-09, many would-be buyers have been hunkering down in their homes, putting off plans of buying a new home until the storm passes.

Now that the economy has improved somewhat and people are a bit more secure in their jobs, more are looking to buy homes before mortgage interest rates rise further after inching upward a little in recent months.
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Men can Learn from Women about Investing

Written by Tim Decker, AIF®. Posted in The Patriot News

Mid aged COuple happyQ: My wife said she read something about women being potentially better investors than men. I told her this is nonsense. Your thoughts?

A: I'm sorry to tell you, but according to well-regarded research, your wife is correct. What she probably read is a reference to a classic behavioral finance study, published in 2000. This study concludes that women tend to be better investors than men. The apparent reason for this is that they lack something that often hurts men's investing performance: overconfidence.

On the Air

newsradio-WHP-webTim Decker hosts the weekly radio show “Financial Freedom” on WHP 580 AM Harrisburg every Saturday at 10:00 am Eastern.

He brings his extensive knowledge and over 28 years of experience to the discussion of current financial and wealth management topics. Each show also includes a Q&A session when Tim provides straightforward, unbiased answers to questions from callers. This is the program that represents your best interests, not Wall Street's.

Get the PodcastListen Here

The Sleep-Well-at-Night Investor

The-Sleep-Well-At-Night-Investor

ISI Financial Group helps clients take all necessary steps to properly develop and implement a comprehensive financial plan using evidence-based, , time-tested strategies centered around  financial science. In his book, “The Sleep-Well-At-Night Investor,” Tim Decker shows readers how misinformation from the mutual fund industry has created widespread harm amongst  investors. The book also discusses the temptation to think of investing like gambling, and the tragedy of gambling away savings and security under the guise of investing.

Buy the Book!