Tag: Financial Planning

The Behavior Gap and Your Financial Health

Jun 8, 2022

Behavior Gap Brain Synapses
how might it affect you?

“It turns out my job was not to find great investments but to help create great investors,” writes Carl Richards, author of “The Behavior Gap.” From increasing our budget mindfulness to taking a steadier approach to investing, Richards has drawn attention to how our unexamined behaviors and emotions can be to our detriment when it comes to living a happy and financially sound life. In many cases, we make poor financial decisions when experiencing panic or anxiety due to personal or widespread events. 1 (more…)

Tags: , , , , ,



Taking Charge of Your Financial Life

May 25, 2022

Delegating responsibilities to others may lead to problems down the road.

When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another takes on the shopping. You might also decide which one of you vacuums and which one of you dusts. This is a perfectly fine way to divvy up household tasks and chores.

One household task it’s valuable for both partners to take part in, however, is your shared financial life. It’s important, regardless of your level of wealth or stage of life. Counting on one spouse or partner to handle all financial decisions can create a gap for the other partner. (more…)

Tags: ,



Couples Retiring on the Same Page

May 23, 2022

Silhouette of 2 couples under a roof in a hand in front of sunset
Agreeing about what you want from retirement is crucial.

What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar?

The Social Security Administration currently projects an average of 18 years for a retiring man and 21 years for a woman (assuming retirement at age 65). So, sharing the same vision of retirement (or at least respecting the difference in each other’s visions) seems crucial to retirement happiness.1 (more…)

Tags: , , , , ,



Estate Planning for Baseball’s $300 Million Players

Apr 13, 2022

Baseball glove and baseball in field
Ballplayers shouldn’t be the only ones preparing for the future

The San Diego Padres signed infielder Fernando Tatis, Jr., to a 14-year, $340 million contract roughly one year after the Los Angeles Dodgers inked outfielder Mookie Betts to a 12-year, $365 million deal. That brings the total to 8 baseball players who have signed long-term, $300+ million contracts. Think he needs estate planning? (more…)

Tags: , , , , ,



Building a Healthy Financial Foundation

Apr 4, 2022

When you read about money matters, you will sometimes see the phrase, “getting your financial house in order.” What exactly does that mean?  When your financial “house is in order,” it means it is built on a solid foundation. It means that you have six fundamental “pillars” in place that are either crucial for sustaining your financial well-being or creating wealth. (more…)

Tags: , , , , , , ,



Financial Tips for Young Families

Feb 25, 2022

Financial Tips
It’s never too late to start.

The hardest part is getting started. Even though more than half of U.S. households have some form of investment in the stock market, many new parents may still find that creating a financial strategy is the last thing on their minds. And who can blame them? After all, new parents have a million concerns to keep in mind on top of any unexpected financial pressure that may arise. A few financial tips here and there can help set the basis for your future. Thus, for young families with discretionary income, creating a financial strategy may be easier than they realize.1 (more…)

Tags: , ,



Cash Flow Management

Feb 23, 2022

Scale
An underappreciated fundamental in financial planning.

You’ve probably heard the saying that “cash is king,” and that truth applies whether you own a business or not. Most discussions of business and personal “financial planning” involve tomorrow’s goals, but those goals may not be realized without attention to cash flow, today.

Management of available cash flow is a key in any kind of financial strategy. Ignore it, and you may inadvertently sabotage your efforts to grow your company or even build personal wealth. (more…)

Tags: ,



Taking Charge of Your Financial Life

Feb 18, 2022

Take Charge of Your Finances
Delegating responsibilities to others may lead to problems down the road

When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another takes on the shopping. You might also decide which one of you vacuums and which one of you dusts. This is a perfectly fine way to divvy up household tasks and chores. (more…)

Tags: , , , , , , ,



Little Known Homeowners Insurance Facts

Feb 14, 2022

Home Insurance Documents
You may be surprised to learn what is and is not covered

If you have a homeowners insurance policy, you should be aware of what this insurance does and does not cover. These policies have their limitations as well as underrecognized perks. (more…)

Tags: , , , ,



Bad Money Habits to Break

Feb 2, 2022

Hammer Breaking Glass
Breaking Bad Habits

Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns, year after year. If you sometimes succumb to these financial tendencies, now is as good a time as any to alter your behavior. (more…)

Tags: , , , ,



More Insights

Feb 1, 2023

Investment firms have a new client service requirement. They must now ask you if you would like to provide the name and information of a trusted contact.1 You do not have to supply this information, but it is encouraged. The request is made with your best interest in mind – and to lower the risk … Continue reading “Who is Your Trusted Contact?”

Jan 30, 2023

There’s a subjective uncertainty associated with financial wellness. Are you financially fit? And if so, how fit are you? While there is no clearly defined threshold for answering affirmatively, much less grading your level of fitness, there are baseline elements associated with financial fitness. To make sure that you’re on the right track, develop a … Continue reading “The Basics of Financial Fitness”

Jan 27, 2023

When you marry or simply share a household with someone, your financial life changes—and your approach to managing your money may change as well. The good news is that it is usually not so difficult.

Jan 25, 2023

Gold has climbed to a nine-month high after breaking out from a bottom formation last fall. The yellow metal is now up nearly 20% off the September lows, including over a 5% year-to-date gain as of Monday, January 23. The recovery in gold has primarily been fueled by a weakening dollar and fading market expectations … Continue reading “Market Update – Can Gold Continue to Shine?”

Jan 24, 2023

Do you work for yourself? Then you may want to consider the solo 401(k), which marries a traditional employee retirement savings account to a small-business, profit-sharing plan. To have a solo 401(k), you must either be the lone worker at your business or its only full-time employee.1

Insights + Resources >