Dana Miranda

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The stock market can be a confusing place for beginners, but it doesn't have to be. Often accompanied by words like “volatile” and “risky,” the stock market is an intimidating and confusing place for many. While beginner investors may know investing in the stock market is a key part of building wealth, they may also tend to avoid it because they feel it’s too complicated for them to get involved in or that they don’t have the knowledge necessary to make smart investment choices. Here, the financial experts of Kiplinger Advisor Collective seek to demystify the stock market and break down some of the fears people may have around investing. Below, they discuss some of the key steps you’ll want to take when jumping into the stock market for the first time and why a little education and a plan can go a long way toward investing successfully.

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Even small changes can make a big difference to your financial journey. As with tackling any new goal, it helps to have the right habits in place to help lead you across the finish line. Whether you’re saving up for a house, thinking about retirement or just hoping to achieve a feeling of security, building the right habits is crucial to ensuring you have the tools you need to accomplish your goal.  And while there are some habits you may be able to identify for yourself, there are others financial experts wish people would give more thoughtful consideration. Here, 11 members of Kiplinger Advisor Collective discuss some of the most important money habits they think more people should cultivate and why they’re so essential to building true wealth throughout your life.

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In the financial world, it’s not just about knowing your numbers. Many think of finances as purely a numbers business, but in reality, it’s a people business too. Financial advisers work closely with their clients, often getting to know them on a deeper level than others might due to the sensitive nature of the work they do together. Discussing and receiving advice about one’s financial goals and personal money habits can be very vulnerable, and so working with a financial adviser who puts focus on their “soft skills” can be a much more comfortable and rewarding experience. Below, the financial experts of Kiplinger Advisor Collective touch on nine other reasons why financial advisers and other financial professionals should sharpen their soft skills, and address why doing so can make for much better client-adviser relationships. 

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The way you approach these conversations can set the stage for your whole relationship — for better or worse. Money and finances can be a truly divisive topic, and nowhere is this more true than with romantic partners. With differing spending and saving habits, economic backgrounds, values or beliefs around money, couples may find it difficult to get on the same page when it comes to their finances. In some cases, disagreements around money may even lead couples to break up or divorce. In this way, it’s vital couples have conversations about money early on to set a better foundation for their financial future together. However, ensuring you’re having these conversations the right way — without them turning into arguments — is key to your success. To offer their guidance, 10 financial experts from Kiplinger Advisor Collective each share one piece of advice they’d give to a couple about how to approach money conversations in a better way and work together to accomplish their financial goals.

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The key to smart investing is to first equip yourself with the right knowledge. For the average person, investing can seem like an intimidating concept. “How do I figure out what to invest in?” “How much should I invest, and how often?” “What are the best accounts to open up?” “What happens if I lose all my money?” These are just some of the questions aspiring investors are likely to ask, but getting answers isn’t always so straightforward. Those attempting to invest without any knowledge of how to do so have the potential to set themselves up for grave financial mistakes in the future. In this way, it’s critical new investors take care before making any decisions or setting any investment goals. But whether someone just wants to dabble in investing or they’re ready to make some more aggressive moves, they should first consider the advice of financial and investment experts. As such, the leaders of Kiplinger Advisor Collective have some sage advice for newbie investors. Below, they each offer one tip that individuals new to investing may not know about how to do it smartly, and why they would so strongly advise taking these cautionary steps before taking any major financial ones.

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To guide your clients toward a smooth adoption of useful fintech tools, ask these questions.