accounts

Should You Keep Multiple Investment Accounts?

In the past, when we’ve talked about diversifying your investments to manage risk and preserve wealth, it’s been in relation to multiple asset classes or industry sectors for equities. But what about the equally obvious strategy of spreading your investments around, and maintaining separate accounts at different institutions? Amongst high net worth individuals, it’s commonplace […]

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Ask the Readers: How Many Bank Accounts Do You Have?

As part of the Automatic Finances system, it’s necessary to have a number of different bank/investing accounts for your money. In order to better save for goals, every account you have needs a name: from your main checking account to your short-term savings to your long-term investment and retirement accounts. Sometimes, however, it’s easy to […]

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Why Every Account You Have Needs a Name

As I’m helping more people manage their finances, I’m finding one common theme: people don’t have names for their savings accounts. Instead of having multiple short-term savings accounts, they tend to only have one “savings account” that holds all of their money. If you’re in this situation, you need to break out your savings into […]

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