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Can You Keep Ignoring Your Will and Estate Plan
Key Takeaways No one enjoys planning for their departure from Earth, but you owe it to your family to have an up-to-date will and estate plan. If nothing else, make sure your assets are properly titled and you are crystal clear about your financial and healthcare powers of attorney and guardians for your minor children.…
Read MoreWhat Do Rising Home Prices Mean for Your Estate?
Since the COVID-19 pandemic began, there have been rising home prices. According to Fannie Mae, they’ll continue to climb by 11.2% this year and expand at a more modest rate in 2023.
Read MoreFinancial Technology: Delivering Digital Financial Learning
The coronavirus pandemic has motivated many Americans to take full advantage of financial technology. Many are pairing various financial tech solutions to help them improve their financial well-being.
Read More3 Ways Rising Interest Rates and Inflation Impacts You
Interest rates are rising as Fed officials dred raised rates by a quarter-point in March 2022 to a target range of 0.25% to 0.5%. Their median forecast signaled that they expect to lift rates to 1.9% by the end of 2022 and to 2.8% by 2023.
Read MoreTwo Significant Risks to Your Retirement Plan (and How to Mitigate Them)
With today’s high inflation and rising interest rates, some retirement plans may be at risk due to assets depleting prematurely due to these factors. Today’s economic conditions are much worse than coming out of the Great Depression when the U.S. experienced inflation, high-interest rates, historical debt, and tax levels when tax rates were above 40%…
Read MoreWho Hurts the Most From Inflation?
Inflation is at a forty-year high, and everyone is paying higher prices as inflation erodes the average person’s purchasing power. But who hurts the most from inflation?.
Read MoreTeachers Need Financial Planning, Too
..Teachers often have defined benefit pension plans, but similar to other industries, states are ending the use of pension plans requiring teachers to set up their retirement savings plans themselves. In this article, we explore why teachers need financial planning.
Read More5 Ways to Pay for Long Term Care During High Inflation
People are living longer and will likely need long-term care (LTC) at some point in their lives. The unknowns in most financial plans are how many years you will need LTC and what it will cost. Periods of high inflation significantly increase the cost of health care and LTC, even when prices return to normal.…
Read MoreCan Having Debt Actually Be a Good Thing
While most in Americans equate Cinco de Mayo to a day to celebrate with some margaritas and Mexican food, what marked this important day in Mexican history took place at the Battle of Puebla on May 5, 1862 in Veracruz, Mexico. In 1861, Mexico was in financial ruin after years of internal strife, and…
Read MoreCan Gratitude Raise Your Net Worth
“Acknowledging the good that you already have in your life is the foundation for all abundance.” – Eckhart Tolle, A New Earth As part of my morning routine, I’ve started to write down things I’m truly grateful for in my life. The normal things come to mind such as my family and our loyal dog…
Read MoreBy whose financial rules are you playing
“Whenever you find yourself on the side of the majority, it is time to pause and reflect.” Mark Twain As I reflect on my childhood and compare it to what my children are going through, it’s easy to see so many differences. Clearly technology has impacted our lives in such a profound way in the…
Read MoreBuilding Your Financial Foundation
Have you ever taken the time to visualize your future and what you want it to look and feel like? What would you like to be doing every day and who do you want to spend time with? If you don’t take the time to think about the most important things in your life, you’ll…
Read MoreBiden Tax Hike will be severe
I ran across this article I thought you must see. There’s still so much uncertainty surrounding the economy, a vaccine, and the election. However, it’s our responsibility to keep abreast of what may come so we can properly prepare and withstand any significant storms that come our way. I’ve heard a number of CPAs describe…
Read MoreBiden Tax Hike will be severe – Round 2
With the Democratic National Convention in full swing, I thought it would be good to send this message around again. It’s hard to know what the future will hold but many signs point to rising taxes in the future. For some this could equate to a sizable portion of your wealth and income directed toward…
Read MoreBe the Bank by starting a Family Bank
Those who have succeeded before you have done so because they followed a plan, and you can do the same thing. As Tony Robbins says, “Success leaves clues.” Taking notice of the clues are a good thing, however that’s not enough. Taking OWNERSHIP of your situation, making a PLAN, and taking ACTION is the only…
Read MoreBe the Bank by starting a Family Bank
A successful executive reached out to me recently for some guidance about his financial plan. By most measures he earned a VERY healthy income, had a generous health plan, a well-funded 401(k) and a burgeoning investment portfolio. But he wasn’t feeling all that wealthy because most of this money was tied up in risky assets…
Read MoreBe Curious
The mind that opens up to a new idea never returns to its original size – Albert Einstein When some people reach their goal and “arrive” they tend to fall back and say, “I’ve made it!”, and then not stay focused on behaviors that got them there in the first place. They may feel that…
Read MoreAvoiding Wealth Transfers Can Significantly Improve Your Financial Life
“Risk comes from not knowing what you are doing.” Warren Buffet We’ve all heard the philosophy that to obtain higher rates of returns and wealth we must take on more risk. What if you could improve your financial life significantly while taking on lower risk just by learning new strategies? One of the strategies focuses…
Read MoreAre Your Prepared for a Financial Hurricane
As I returned back from a family trip to San Juan, Puerto Rico, I was astounded by the beautiful landscape and beaches and enjoyed the friendliness of the people. It’s shocking to think that less than two years ago the the island was hit hard by Hurricane Maria. The latest report from Puerto Rico’s planning…
Read MoreAre Bonds Still a Good Choice for Safe, Steady Growth
Are bonds still a good bet? If you’ve been paying attention, you’ll know that bonds aren’t what they used to be. Values are declining, risk is up, investors are selling, bond funds are underperforming, and municipal bonds are no longer the safe haven they once were. “With the demise of the bond insurance industry in…
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