Fast and Finance Patrick McCrindle

On this new season of Fast & Finance, we are kicking things off by welcoming guest Dennis Feriozzi as he walks us through the basics of getting a mortgage to buy a house, and what to expect during the process!

So, getting right to the point here, a 401(k) is a retirement savings/investing plan that your employer can offer. Different than a typical savings account, the money contributed to the account is being invested, while also maintaining a tax-deferred status.

"If the U.S. economy enters a recession, the causes and potential outcome will be hotly debated. At LPL Research, our starting point is always looking at history. This week’s commentary will remind us of three things we know about historical recessions."

It can be difficult to pinpoint what your financial priorities are. Of course, there are going to be the “right” priorities and the “wrong” priorities. It’s important to know what you are working towards and set goals for yourself before figuring out a plan to get there. Setting goals and priorities will get you familiar with your situation, so you know what to expect and what you must change for the better. 

There are numerous factors that come into play when we say, “get comfortable with your finances.” Finances can be a stressful topic for a large majority of people, whether it’s lack of financial education or maybe they just need some assistance. Let’s be honest, there are a lot more topics that people would rather speak about. Before taking any steps into trying to resolve your financial worries, you need to pay close attention to the feelings you are having. 

So, you guys have heard me say this numerous times now by this point, but that’s okay because it’s the simplest way to explain diversification; Don’t put all your eggs in one basket. If you have eggs in multiple baskets, you won’t break all of them. To explain it in a more formal way, it’s the process of allocating your portfolio’s investments in such a way that reduces your exposure to different kinds of risk.