Not one of my finest moments when I argue with my wife first thing in the morning. Similar to fighting with my kids, it does not make for a good start to the day. What makes this “discussion” more interesting is that she asked me about the recent bank failures after watching a segment on Good Morning America. Sometimes it … Read More
Wealth Planning is For Everyone
Have you ever felt like wealth planning is something only “other people” should do? 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 … Read More
Estate Planning; Details That You Need to Know to Protect Your Family & Assets
Estate planning is one of the most critical aspects of the wealth planning process. It is often an overlooked and disliked topic because it involves death and many subsequent emotional decisions. However, estate planning is essential for protecting your family and having your story told. Estate planning is; Key Documents That Make Up an Estate Plan I prefer to look … Read More
The Best College Savings Plan for Parents of Multiples (or Parents of multiple kids)
Most parents may not realize that you have multiple college saving options available to you and your family when it comes to saving for college. But whether you are the parents of multiples (twins, trips, quads, etc.) or have multiple kids, how do you determine what the best college savings plan option is best for you? What College Saving Plan … Read More
The Stock Market is Not the Economy
John Rekenthaler, who is Vice President of Research for Morningstar, wrote a piece recently, The Stock Market Is Not the Economy. In his article, Rekenthaler noted that stock prices are only tenuously connected to general economic conditions. Rekenthaler went on to say, “For one, stocks anticipate future developments rather than dwell on current affairs. For another, neither employment statistics nor … Read More
Eight Tactics That Can Help You to Prepare for a Recession
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 would 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 have to … Read More
Understanding Risk; Four Ways to Help Your Wealth Management Plan
There are typically three risk profiles that investors are assigned to within the financial services industry, which are conservative, moderate, and aggressive. These categories are usually defined by an investor; These components help to make up what is called your investment risk profile. However, your risk profile may be very different from your risk perception. While your risk profile may … Read More
How to Utilize Life Insurance as a Tool in the Wealth Planning Process
Along with estate planning, insurance planning can be a difficult wealth planning topic that most people would rather not talk about. There are legitimate reasons for this; If you can find an advisor to work with that you trust and who places your interest before theirs, I think most people can get past the first two points. I want to … Read More
Three Factors That Affect Your Social Security Decision
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 many people would benefit the most by waiting until they reach their full retirement age … Read More
Four Ways to Protect Yourself from Ponzi Schemes
I had a friend text me this story about Kevin Garnett, a 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, as long as there are people with money (large or small), there will … Read More
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