What to do with your old Retirement Accounts?

It used to be just working one job your whole career. But in today’s world, the average person can expect to change careers three to five times in his or her lifetime. Not only can it be a hassle dealing with the human resources of your old firm, but it’s also another 401k plan to have to deal with. By now you may have 2, 3 or even more old 401k accounts whose statements you throw into a box, many times without even opening up the envelope. Is this you? If so, here’s what you can do to your old … Continue reading

Financial Considerations Before Buying Your First Home

Whether it because you’ve been renting for too long, your family is growing or its time to move out of your parent’s basement, buying your first house can be a very exciting time. However before you jump into that house of your dreams it’s important to make sure that you’re prepared financially for what’s in store for you. The analysis of being able to buy and own a home is not as simple as just getting the down payment and being able to make the mortgage payments. There are a lot of additional fees, costs and expenses that you need … Continue reading

Quincy the new Tinsel Town?

When Quincy’s State Representative Tackey Chan [D-Second Norfolk] spoke at a community forum in Chinatown last month, one topic that surprisingly got his adrenaline pumping was the Kevin James film “Here Comes the Boom,” which is slated to shoot in Quincy this spring. Chan, a member of the Screen Writers Guild, believes that movies can hugely benefit the local economy. “To give you an idea of how the movie industry affects the economy here:  This movie “Here Comes the Boom” is going to require 9000 extra workers, in terms of background actors.  These are people who work for two days, … Continue reading

Last minute tax tips

Yes, it is that dreaded time of year again, Tax Time! For those last minute procrastinators, there is some good news for you. This year, you will have a bit of a break as the deadline this year has been moved from April 15th to April 18th. This is because of a holiday observed in Washington DC called Emancipation Day. Because Emancipation Day falls on Saturday this year, it will be observed on April 15th.  Also the IRS filing deadline cannot fall on a weekend or holiday, so it is moved to Monday April 18th. Here are some last minute … Continue reading

Following the herd. Part II

This is part II on our discussion of “herd mentality,” also known as following the herd. As we mentioned in the last article, herd mentality describes how people are influenced by the crowd’s emotional stampede. When it relates to investing, it usually leads to irrational buying or selling. This happened in 1999 near the end of the internet bubble. Investors knew rationally that the huge run up in technology stocks completely defied logic, but because of herd mentality, they convinced themselves that this was justified and bought anyway. Another example of Herd Mentality was in the beginning of 2009. This … Continue reading

Following the herd

Have you heard of “Herd” behavior in animals? This is the phenomenon where animals of the same species will act together and react the same way without coordination. When an animal is threatened, he has more perceived safety and protection from the herd. When the predator attacks, the chances for any one individual animal to be a victim is greatly reduced. Herd mentality, however, is not just isolated to animals. In fact, individual investors are extremely prone to these reactions when it comes to investing. When the stock market is at the beginning of a bullish cycle, it usually goes … Continue reading