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9 Ways To Build Wealth In 2011

"It's one great technique for the coming year." Tip for success: For the maximum impact, talk with human resources ASAP and change your deductions, Bendix says. One hopes the habit of saving a little more will stick with you through next year, too, he says. 2. Look For Low-Cost Mutual Funds and Watch Those Fees Jill Gianola, CFP, owner of Gianola Financial Planning, LLC, and author of "The Young Couple's Guide to Growing Rich Together": "One of my favorite ways to build wealth is to pay close attention to the cost of investing and stick to low-cost, no-load mutual funds," she says. One example: "If you invested $10,000 in small-cap, value funds with a commission and higher-than-average operating expenses and earned 7 percent a year for 10 years, your balance would be $16,005 and you would have paid a sales charge of $575 and $1,890 in operating expenses," she says.

Why Building Community Wealth is a Key Challenge to Corporate Power

We Want Nancy The best way to build wealth is to get into the habit of saving and investing early and to keep it up. For ideas, take a look at our cover story and also at the Kiplinger 25, the annual list of our favorite mutual funds . In updating our list, investing editor Manny Schiffres and senior associate editor Nellie Huang were faced with an enviable problem: Our funds had done too darn well over the past year or, as Manny put it, "we have no stinkers." But given our readers' desire for higher returnsand the risk that bonds could lose value if interest rates riseManny and Nellie decided to buff up the bond funds by adding more choices and more flexibility. They start the process by intensively screening funds, says Manny, then adding their own analysis and judgment (and often sparring Mike Dillard with each other). For example, they wanted to add Osterweis Strategic Income, a go-anywhere bond fund that specializes in high-yield bonds with a short-term focus.

The Best Way to Build Wealth

Do You Pay a Financial Advisor? If So, You Need To Read This Now. Not only do these enterprises build community wealth and provide independent resources that finance social services, the businesses themselves are central to Pioneer's mission of helping people on the margins of society stay out of prison and off the streets, enabling Pioneer to employ more than 700 men and women drawn from the ex-offender, homeless and drug-recovery populations it serves. Community development corporations (CDCs), formed initially in the 1960s in a crucible of urban riots and rural neglect, now perform important community wealth-building and planning roles in cities and counties across the United States. CDCs can be found in virtually every major city. A Massachusetts study found that between 2003 and 2011, Massachusetts-based CDCs created or preserved over 9,000 homes and 14,000 jobs, while supporting more than 8,000 businesses and 160,000 families, generating nearly $2 billion of economic activity. A 2005 survey found that nationwide an estimated 4,600 CDCs help create 75,000 jobs per year. Community development financial institutions (CDFIs), first given federal recognition in the 1990s, have the explicit aim of building wealth in low-income communities through providing financing where conventional lenders fear to tread.

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