How Saving Habits Changed
Mar 25, 2022
Among the many changes arising from the pandemic, one of the most noticeable was a change in American spending and saving habits.
A survey released in March 2021 by Pew Research shows that Americans have increasingly chosen to put away what extra money they have rather than spending or investing. It spreads across all income levels, with a 32% increase of wealthier Americans saving more, 17% more for those at lower incomes, and an overall increase of 23%. Studies show that the total may amount to $1.8 trillion, and is expected to increase to $2.5 trillion by the summer. (more…)
Tags: financial advisor charlotte nc, Personal Finance, Spending Habits
Managing Drug Costs
Nov 27, 2020
Are prescription drug costs burdening your finances? Some people find it a challenge to manage the cost of prescription drugs. Americans pay an average of $1,200 per year for medicine. For those facing greater and more dangerous ailments, some drug costs are $10,000 per month or even lump sums in excess of $80,000 for certain drug therapies. Yes, health insurance and Medicare Part D can help you, but not everyone has access to Medicare, and not every insurance company has the same formulary. This means that your coverage may fall short—not something you want to hear when wrestling with a major diagnosis.1 (more…)
Tags: Certified Financial Planner Charlotte NC, charlotte NC, Family Wealth, financial advisor, Health Care Needs, Health Care Savings, Medicare, Personal Finance, Spending Habits
A Windfall Inheritance Comes Your Way
Nov 16, 2020
Here’s a windfall scenario for you: You pick up what appears to be a lottery ticket. You check the numbers for a laugh and discover a winning combination, offering you millions of dollars in prize money. What are the chances of that? (more…)
Tags: Certified Financial Planner Charlotte NC, Estate Planning, Family Wealth, financial advisor, Financial Planning, Income Planning, Investing, Investment Planning, Investment Portfolio, Investments, Personal Finance, Spending Habits, Wealth Building
Bad Spending Habits That Can Be Corrected
Jun 12, 2019
Americans have a great deal of disposable income relative to many other nations, yet our free spending can take us further and further away from the potential for financial freedom. Some people fall into crippling spending habits and injure their finances as a consequence.
Tags: Financial Help, Spending Habits
More Insights
Sep 23, 2022
The Federal Open Market Committee (FOMC) increased the target rate by 75 basis points (bp) to a 3.25% upper bound and delivered a more pessimistic outlook in their published Summary of Economic Projections.
Sep 21, 2022
You may have seen this statistic before or one resembling it: the average 65-year-old retiring couple can now expect to pay more than $250,000 in healthcare costs during the rest of their lives. In fact, Fidelity Investments now projects this cost at $285,000. The effort to prepare for these potential expenses is changing the … Continue reading “Healthcare Costs are Cutting into Retirement Preparations”
Sep 19, 2022
Investors are routinely warned about allowing emotion to influence their decisions. However, they are less routinely cautioned about their preconceptions and biases that may color their financial choices. In a battle between the facts & biases, our biases may win. If we acknowledge this tendency, we may be able to avoid some unexamined choices when … Continue reading “Do Our Emotion or Biases Affect Our Financial Choice”
Sep 16, 2022
At one point or another, you may realize capital gains, which is a taxable event. What can you do about them? You can do what some investors do – you could recognize investments with a loss and practice “tax-loss harvesting.”
Sep 14, 2022
Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound counterintuitive, but it may be possible to have too much of a good thing. Over time, the performance of different investments can shift a portfolio’s intent as well as … Continue reading “Rebalancing Your Portfolio”
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