Recently, I posted a simple question on Facebook: “What’s the biggest personal finance struggle you have currently?” My goal was to check the pulse of what real people were dealing with when it comes to important decisions about money. Thankfully, I received many good responses that may be the inspiration for future posts, but one [...]
5 Common Myths About Social Security
January 22, 2015 By
There are a lot of misconceptions about the Social Security system out there. We know, because when it comes to retirement planning, we have had countless conversations with clients and Social Security personnel in an attempt to make the best decisions possible in conjunction with an overall retirement plan. Over the years, we’ve picked up quite [...]
Auto Loans Hit a New Record
December 2, 2014 By
According to new data from Experian, consumers now borrow, on average, about $28,000 for a new car purchase, an increase of about 4%. Even with record low interest rates, the average car payment on a new vehicle is up as well, now almost $500 per month. There are a myriad of reasons why people may feel [...]
The Case for Quitting Your Job
November 6, 2014 By
“The phenomenon of delayed retirement is well documented. Average retirement ages are climbing, and nearly half of baby boomers say they expect to work until age 66 or beyond, according to Gallup Inc. polls.” – Anne Tergesen (Wall Street Journal) For many of these potential retirees, they have no choice–they need the money. That’s why [...]
Americans Still View their Homes as Best Investment
July 29, 2014 By
Americans still think it’s financially savvy to dump all their savings into a single, large, highly illiquid asset Even though we just went through one of the worst recessions in U.S. history that was arguably caused directly by this attitude, Americans still view their homes as the best single investment available to them. I would [...]
What It Takes to Be Wealthy
June 26, 2014 By
Habits That Help You Get Wealthy Most people believe that having a six figure income and/or being in the top 1% of income earners is what it will take to be wealthy. However, in my experience over the last 29 years of helping people become wealthy and stay wealthy, having a high income is only one [...]
How to Pay a Zero Percent Tax Rate
May 16, 2014 By
401k Investment Options Bad? Help may be on the way…
April 2, 2014 By
One popular reason investors give for not funding their 401-k plans has been limited investment choices. This excuse is often the reason that all of the great benefits of the 401-k get ignored, such as an up-front tax-deduction, tax-deferred growth, and company matching and profit-sharing features (free money, anyone?). Or, almost as bad, the 401-k does [...]
Should You Wait to Contribute to Your IRA?
January 8, 2014 By
Below is a great article from The Wall Street Journal about the benefits of contributing to your IRA at the beginning of the year rather than at the end. This is something we recommend to client’s if they are confident in their financial position and have the liquidity to set aside these assets for retirement as soon [...]
Should You Wait Until 70 to Claim Social Security?
December 17, 2013 By
Over the past few years it seems that there has been an absolute consensus in the financial planning community that everyone should wait until age 70 to take social security. There have been a number of articles written on this topic by many very bright individuals using calculations to prove why it is always the [...]
