How a Family Office and Wealth Management Plan Can Help You

Paul FennerPersonal Finance

TAMMA Family

The best wealth management plan has nothing to do with “outside forces” beyond your control, but rather everything to do with what’s most important to you.  Instead of feeling overwhelmed by the supposed complexity surrounding financial decisions, a straightforward wealth management plan can bring clarity and peace of mind about which strategies will work best for your particular situation. Behind … Read More

How to Develop Your Own Personal Financial Statement

Paul FennerPersonal Finance

Does this sound like you, “We don’t have any money at the end of the month.  We’re not saving enough or investing anything for retirement, and we’re going to be sending our daughter to college next year.” Your money follows your personal interests.  What you spend your money on shows what is important to you.  So, if you change what … Read More

Eight Tactics That Can Help You to Prepare for a Recession

Paul FennerPersonal Finance

At one point during my corporate career, I was unexpectedly transitioned out of my current role.  At the time, my four kids were five or younger, and I had no idea what I was going to do.  At that point in my life, I unfortunately allowed my career to define a large part of who I was. The economy doesn’t … Read More

Spring Clean Your Finances; 5 Ways How to Get Organized

Paul FennerPersonal Finance

Now that we have made it through another tax season, it is finally time to look forward to Spring.  Although, depending upon where you live, the spring season could be fleeting as they often are in the state of MI.  Regardless of the weather, Spring from a financial calendar standpoint means it time to get organized. Not having all your … Read More

How The CARES Act Could Impact You

Paul FennerPersonal Finance

With the passing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, I wanted to highlight a few of the critical points that could impact you and your family. Tax Rebates Taxpayers with no tax liability would receive $600, and the amount increases dollar for dollar for those with a tax liability up to $1,200 for individuals. For married … Read More

Peace of Mind When it Matters Most

Paul FennerPersonal Finance

Last week stock markets were in rally mode as the $2 Trillion stimulus bill was passed, and President Trump indicated that some businesses could be up and running by Easter. Trading in the stock markets last week took the stance as if the War against the coronavirus will soon be over.  How do we know?  Below are a few of … Read More

5 Options on How to Handle Your Year-End Bonus

Paul FennerPersonal Finance

So, you just received your company bonus check.  Now, what should you do with it? Before you go out and spend it on something that you might regret, have you had a chance to review your wealth planning pie? Your wealth planning pie consists of all your wealth planning priorities, goals, and objectives.  No matter if you have $1,000 or … Read More

Understanding Risk; Four Ways to Help Your Wealth Management Plan

Paul FennerPersonal Finance

There are typically three risk profiles that investors are assigned to within the financial services industry, which is conservative, moderate, and aggressive. These categories are usually defined by an investor’s; Time Horizon – age and when you expect to need assets, Long-Term Goals & Expectations – views of how an investment should perform, Short-Term Risk Attitudes – views towards short-term … Read More

Three Factors That Affect Your Social Security Decision

Paul FennerPersonal Finance

I am often asked the critical question of should I take my social security benefits early or wait until full retirement age or beyond?  Issuing a blanket response or answer to that question can lead people down the wrong path, especially on this subject.  While I believe many people would benefit the most by waiting until they reach their full … Read More

Four Ways to Protect Yourself from Ponzi Schemes

Paul FennerPersonal Finance

I had a friend text me this story about Kevin Garnett, who is yet another high profile athlete or entertainer who has come out on the wrong end of some horrible financial advice (see here and here).  Within the text, my friend asked, “how does this happen to people?”  My response is, as long as there are people with money … Read More