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Author Archives: Erik Carter

About Erik Carter

JD, CFP®

Erik Carter is a Senior Resident Financial Planner at Financial Finesse and leads our social media team. He also contributes to our curriculum and is a member of our Think Tank, specializing in research and content regarding generational issues.

Erik’s experience in financial planning and wealth management ranges from running a branch office for one of the largest brokerage firms in the country, to advising members of Congress as a financial adviser on Capitol Hill, to serving as a vice president in the private client division of a major brokerage firm in Manhattan. He earned a B.A. in Economics with honors from NYU and a law degree on a full academic scholarship from the University of San Diego, where he focused on tax and estate planning.

Favorite financial blog: EarlyRetirementExtreme.com

Fun fact: He hasn’t owned a tv for the past several years (and never missed it).

Favorite Quote: "I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." – Warren Buffett

How Should You Do Your Taxes?

I recently opened my mail and found my first tax documents for 2015. You know what that means…it’s the start of tax season! If you’re wondering if there’s an easier and/or cheaper way of accurately doing your taxes, here are some options: Read more

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3 Ways to Save Money Without Depriving Yourself

Did you make a resolution to save more money this year? According to a recent Fidelity study, that was the most common financial resolution, cited by 55% of respondents. It sounds a lot like the financial equivalent of dieting but here are three ways to save money without depriving yourself:   Read more

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The Risks of Employer Stock

One of the biggest risks I’ve seen lurking in people’s investments is having too much in a current or former employer’s company stock.What’s too much? You should generally have no more than 10-15% of your investment portfolio in any single stock. Keep in mind that an investment adviser can lose their license for recommending more than that. Read more

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Should You Buy Life Insurance as an Investment?

Should you purchase a whole or universal life insurance policy as an investment? We recently received several questions on our Facebook page on this topic so there seems to be a lot of confusion about it. On the one hand, many agents over-sell these policies as a way to earn big commissions. On the other, they can make sense for certain people. Let’s take a look at some guidelines to use to see if it makes sense for you: Read more

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Happy New Year’s!

We at Financial Finesse would like to wish you and your family a happy and prosperous 2015!

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Merry Christmas!

We at Financial Finesse would like to wish you and your families a Merry Christmas!

 

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3 Hidden Pitfalls Coming to a 401(k) Statement Near You

When you see your 401(k) balance or even a projection of your future balance when you retire, do you really know what that number means for your retirement? If you’re like most people, you probably don’t. A $200k balance may look like the most amount of money you’ve ever had so you can easily think it will be more than sufficient even if it turns out to be nowhere near enough to generate the income you’ll need to retire comfortably. Read more

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My 5 Favorite Bank Accounts

Last week, I wrote about my favorite credit cards for rewards. This week, let’s take on another unpopular financial institution: the bank. With typically poor customer service, rock bottom interest rates, and an endless stream of fees, most people probably look at their bank as a necessary evil. But if you’re willing to look beyond the local branch, there are some good banking accounts out there. Here are my personal favorites: (for the sake of avoiding repetition, all of these banks charge no maintenance or minimum balance fees) Read more

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Which Credit Cards Are the Most Rewarding?

One of my favorite things this time of year is being able to use credit card reward points to cover most or even all of my holiday shopping. While it obviously doesn’t make sense to buy things just to earn rewards (especially if you can’t pay the card off in full), why not get as much as you can from purchases you’re going to make anyway? In deciding which cards to use, there are a few rules of thumb I like to follow: Read more

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Happy Thanksgiving!

We at Financial Finesse would like to wish you and your family a happy Thanksgiving!

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