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What investors would do to never manage their personal finances again

What investors would do to never manage their personal finances again

Finance
Stocks that pay dividends have, over long periods, outperformed stocks that do not.GlobalStock | Getty ImagesWhat would you be willing to do if you never had to manage your personal finances again?A new survey from Merrill Edge posed that question to 1,000 investors with up to $ 250,000 in investible assets. And some of the answers are surprising.Topping that list was giving up all social media platforms for good, which was chosen by 41% of respondents. That was followed by permanently cutting all carbs, sugar and alcohol, at 37%; giving up smartphone access for a month, 35%; running into your ex every time you're out with your current partner, 25%; and moving back in with your parents, 25%. "It's something that people just simply don't like to talk about," said Aron Levine, head of consum...

Your stress about money can help you manage it

Finance
You should read your anxiety about money as a call to action, says certified financial planner Douglas Boneparth. "Money tends to be an emotional area of people's lives, so it's no surprise that they think about this quite frequently," said Boneparth, president of Bone Fide Wealth. "There are a number of ways to deal with this." Start with information, he said. That can come from a certified financial planner, if you can afford one, or from doing your own personal finance research. "Educatio...
Set Specific Goals to Manage Your Wealth Better

Set Specific Goals to Manage Your Wealth Better

Finance
Shutterstock photoBy Kevin SimpsonWhen you make specific goals, you’ll find saving for them comes more naturally and you’ll be more likely to achieve them. While saving money and being financially self sufficient are goals that many people have, not everyone achieves them. This is partially due to lack of clear focus. Defining specific goals for financial savings helps you achieve them more quickly and also manage your wealth better.Where to StartThe first place to start is to look at what you wish to achieve and why you are saving and investing. Do you want to put a down payment on a house? Do you intend to pay for your kids’ college education or your own? Are you aiming to create a nest egg for emergencies and any possible scenarios you may need to weather down the road such as...