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While it’s highly recommended that we use a financial advisor when we start to grow our investment portfolio, there are a lot of things you can do before you ever speak to a financial advisor to grow and maintain your investment portfolio. Investing, like everything else in life, has no guarantees, and even the hottest stock or the best tip may not always perform the way we would like.

The American Institute of CPA’s (AICPA) recently published a list of personal finance trends that we should all be concerned about. These trends highlight the fact that almost 63 percent of Americans today are unable to pass a basic financial literacy test.

Here are the troubling trends, as well as some tips on how to avoid them:

Personal finance, like just about everything else, is mainly common sense. Advice like “don’t spend more than you make; start investing while you’re young; don’t loan money to friends with the expectation of getting it back,” have been around for generations, and most likely will survive the next few generations as well.

Personal finance, like just about everything else, is mainly common sense. Advice like “don’t spend more than you make; start investing while you’re young; don’t loan money to friends with the expectation of getting it back,” have been around for generations, and most likely will survive the next few generations as well.

We all have our own unique relationship with money. We certainly have our own unique way of both spending and saving money.

However, if you’re ready to start putting some money aside, or looking for tips on money management, or even the best way to pay your bills, the following tips may provide a little bit of help: 

With more than 95% of American workers currently covered by Social Security, there are some things about this massive retirement program that you should probably know.

With more than 95% of American workers currently covered by Social Security, there are some things about this massive retirement program that you should probably know.

As we draw closer to the last quarter of 2018, Americans are starting to think more about the changes to the U.S. tax code. Though the tax code has been tweaked in recent years, it’s been 27 years since the last major revision that took place under President Reagan.

As the go-to investment option for most companies and their employees, 401(k) plans provide many benefits to plan participants, including deferment of taxes, the likelihood of an employer match, and a high maximum allowable for annual contributions.  But for those that are self-employed, or whose employer does not offer a 401(k), a traditional or Roth IRA is an option.