Finance: Neighborly.com for our family?

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Cath_Irishman

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Is there anyone on here who knows a thing or two about finance. I saw an advert for this new thing called neighborly.com and I was wondering if it is something I should consider for my family.

The website states the following: You may be new to municipal bonds, have invested in them indirectly through financial products like mutual funds or a 401k, or you may have bought bonds for yourself in the past. Whatever your experience level, we’ve got you covered!

Ever wondered how your local school paid for its last construction project? Or how San Francisco funded the building of the Golden Gate Bridge? The answer? With help from people like you.

American cities borrow hundreds of billions of dollars annually through municipal bonds to finance critical civic projects like schools, parks, bridges and water systems.

Thank you

It sounds Distributist but I’m always wary of these things and try to seek out honest advice.
 
From what I can tell it appears to be a crowdfunding thing with almost no reviews at all.

That alone would scare me away.
 
Sounds like a brokerage for municipal bonds. There’s no worry in that, is there? I mean, these are not great ROI vehicles, but they’re pretty safe, and frankly, many communities would be grateful for a resurrected interest in them. It would certainly help offset tax increases to those communities if more people invested. I think it’s aptly named.
 
Is there anyone on here who knows a thing or two about finance. I saw an advert for this new thing called neighborly.com and I was wondering if it is something I should consider for my family.
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High risk if you don’t know what you are doing. Consult a Certified Financial Planner or equivalent.

Generally speaking: For one, you can no longer trust the ratings agencies that rate these municipal investments. These same agencies gave stellar ratings to pools of subprime mortgages just a few years ago.

Secondly, a lot of municipalities are in debt up to their ears. Even a big city like Dallas is on the verge of bankruptcy because they cannot meet their pension obligations to city retirees.

Lastly, you shouldn’t put all your eggs in one basket. That’s a general rule of investing: Diversify. Investing in a single municipality fund is high risk.

Your best bet is to reduce debt, and then seek a qualified Certified Financial Planner if you want to invest.
 
In finances, unless you are an absolute expert in the field, then simple is better.

If you can’t completely understand what you are “investing” in…then you shouldn’t invest in it.

For a very good beginner and moderate level education in personal finance buy Dave Ramsey’s “Total Money Makeover”, and listen to his daily podcast. Basic, common sense, and workable for everyone.
 
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