The Ultimate Valentine’s Day Gift: A Future Where You Never Fight About Money
Each year when February rolls around, couples are overburdened with overpriced roses, chocolates, and the immense pressure for fancy dinner reservations. But if you want to give a gift that lasts longer than a vase of flowers, give your significant other a conversation that most couples avoid: money. While a “Money Date” might not sound […]
The Juggle – Prioritizing Your Financial Goals
Today’s 30 and 40 something couples have many balls that they are juggling in their daily lives – work, taking kids to school and their extracurricular activities, planning family vacations, and having a few minutes to spend together, etc. The list can be overwhelming. The same can be said about family finances. Should we save […]
Wealth Management and Investing: The Fitness Journey for Your Finances
Managing wealth, saving, and investing are often touted as straightforward concepts: spend less than you earn, save diligently, and invest wisely. Much like the simplicity of weight loss—burn more calories than you consume—the principles of financial health are easy to grasp. However, just as anyone who has tried to shed a few pounds knows, the […]
Are You Confident in Your Savings?
I was recently at the counter of a bookstore facing one of the worst deals of my life. I was looking to offload some books as I was organizing my office, they were never going to get read, and at this point these boxes had been sitting in my car for 2 weeks. I never […]
How serious are you when it comes to planning for your financial future?
THOR Wealth Management recently commissioned a survey of young couples – we will call them emerging wealth couples – and this blog is meant to give you a little bit of insight into the results. If you want the complete results, you can click here and then enter your email address and a full copy […]
$300k Decisions > $30 Decisions
When trying to build wealth at a faster rate, often the first area people evaluate is their expenses. Maybe this means creating a budget for the first time or cutting ties with unnecessary subscriptions (here are some apps that will help with this). However, while these practices can prove beneficial, their potential upside is limited. […]
Why Save to a Dependent Care Flexible Spend Account (DCFSA)?
Among the list of savings accounts offered by an employer (FSA, HSA, 401(k), etc.), the Dependent Care Flexible Spending Account (DCFSA) can be a powerful tool for parents. It is a tax-advantaged account designed to pay for childcare expenses. The DCFSA allows you to save up to $5,000 pre-tax money in 2024. You can then […]
Maximizing the Savings Power of your 401(k)
If you contribute to a 401(k), it is likely that you are familiar with the benefits of saving to a workplace savings plan and are at least somewhat aware of your salary deferral limit. What most do not realize is that you may be able to sock away more, and even more strategically, than you […]
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 […]
Dollar-Cost Averaging – What Is It?
Dollar cost averaging has many different names which include constant dollar plan, unit cost averaging, incremental trading, and cost average effect. But they all speak to the same strategy. Simply put, dollar-cost averaging is dividing up the total amount invested across periodic purchases. The act of dollar-cost averaging was first popularized by Benjamin Graham in his classic investing book, The […]