I'm not going to talk about finance this week. Consider this more of a reflection about aging and how to create a life well lived. As many of you know, my dad was diagnosed with Stage IV Lung Cancer 7 years ago this coming July. This is a photo of he and I having a video call in the past few weeks. He beat the cancer odds. I've watched acquaintances' parents and other family members die from the same exact disease in far less time. He's battled through a broken hip, shoulder, wrist,...
almost 2 years ago • 3 min read
I've helped clients with rollovers for over a decade. This is where you move money from an old 401(k) plan (or other retirement plan) to a new retirement plan or Rollover IRA. But, today, I'm sharing a personal story. Generally, I know which companies are easier to work with, how they process rollovers, and where there may be pain points. In the financial industry, rollovers are a notoriously painful process. If you've ever tried to do one, you may have had to complete 10+ pages of paperwork...
almost 2 years ago • 2 min read
It's hard to escape the debt ceiling news articles. What happens if the U.S. defaults on their debt? The truth is...nobody knows. A good portion of the financial system is built on the idea that U.S. Treasuries are considered the "risk-free" rate. I was taught this in school. Financial markets operate off of this assumption most of the time. News articles talk about how the return is considered risk-free because payments are backed by the full faith and credit of the United States government....
almost 2 years ago • 3 min read
A few weeks ago, I became a published author when More Than Money: Real-Life Stories of Financial Planning was released. Now, I'm self-published with the release of Money Lessons for Change: What They Should Have Taught You in School. When I was at my last firm, I often received the question, "What resources would you recommend for my kid or grandchild?" I had a few resources, but none that I felt completely addressed more than one or two aspects of personal finance. So, I decided to create...
almost 2 years ago • 2 min read
I used to work in an office. I went in every day, even through parts of the pandemic when others were working from home because our CEO believed in keeping the office open. I'd go into the office and take phone calls and video calls from the office (we still were not meeting with clients in person). Often, it would be just me or one other person there. It was pointless. I'd drive to work to simply work virtually. When I launched my firm, I decided to go 100% virtual. Clients don't have to...
almost 2 years ago • 1 min read
One of the mistakes I see DIY investors make is not using asset location. This is different from asset allocation, or your mix between stocks, bonds, and other assets. Asset location is which investments are best suited to different types of accounts. I met with a DIY investor the other day who had done a great job saving, "catching up for retirement", and building income sources for retirement. But, this couple had never heard of the concept of asset location. They had Roth IRAs, Traditional...
almost 2 years ago • 3 min read
When people meet with me, they often feel overwhelmed about how to tackle their financial goals. They know they need help (or through a conversation, they identify areas they need help). But, then there is this heavy feeling that can overwhelm. How will I get everything done? Where do I start? How long will it take? If you look at everything together, it's going to feel overwhelmingly. It might feel too overwhelmingly to even take a step forward. And, then you go back to life, without doing...
almost 2 years ago • 1 min read
A common theme I see in conversations with clients is, "How should I invest for XYZ goal?" It could be a home purchase, new car, or paying for college. This is where I often talk about ranges of returns for stocks, bonds, and a balanced portfolio. You want to align your investment with the expected time frame for using the funds. How this works in practice is cash is often used for short-term need (i.e. 6 - 24 months), bonds for medium-term needs (2 - 7 years), and stocks for long-term needs...
almost 2 years ago • 1 min read
It's tax time! Everybody's favorite time, right? You need to hear this message. I highly encourage you to review your tax return — whether you hired an accountant or did it yourself. You can use the blog article this week to go through it line by line to gain a greater understanding of what is happening. NEW Facebook Group for Widows I teamed up with Tina from Widows Wallet to create a new Facebook group for widows and widowers to ask questions about money! If you are a widow or know a widow...
almost 2 years ago • 1 min read