Financial Habits and Lifestyle Creep
In our last blog, we encouraged you to start the new year off right by setting a few financial goals for yourself. Setting personal financial goals is so important, but, just like fitness goals, they can get pushed to the back burner of life. Time moves quickly. In the blink of an eye, you have […]
Retirement Savings Strategy – Do I Need One?
I have so many competing financial needs and I don’t know how to prioritize them. Where should I allocate my discretionary funds – debt, college education, retirement savings? Help me! We hear this plea often. The answer to the above dilemma is best solved with the development and implementation of a holistic financial plan. While […]
The Emotional Preparation for Retirement
As a person nears retirement, much of the conversation is frequently centered on financial preparedness. If you have done all the right things, you have been saving for retirement for many years leading up to this point and you have a financial plan in place, you have adjusted your portfolio, analyzed Social Security strategies, and planned for various what-if scenarios. That part is all mapped out for you. What is often a last-minute […]
4 Common Wealth Building Mistakes
Building wealth can be confusing and complex at times. To be successful, one must take a holistic approach, requiring an understanding of many different aspects of wealth management. Many of these components are intertwined. For example, ask yourself if you have a sound financial plan? If you answered yes, does the plan take into consideration […]
Time To Think About Roth Conversions
We have written several blogs over the years on Roth IRAs. Today though, they have even more importance given the downturn in the market over the past couple of months. As a quick refresher, a Roth IRA provides tax-free growth on after-tax contributions. When funds are withdrawn, normally after attaining the age of 59 ½, qualified distributions are tax-free. There are two ways to introduce money into a Roth IRA. The first […]
Using Buckets for a Long Term Savings Strategy
In our last blog, we talked about how important human capital can be as it relates to your total economic wealth. Saving as much of your income as possible, especially in your early earning years, is critical. Just as important is the location of those savings. For sure, there are many ways to save today […]