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Saving for retirement is like the Goldilocks effect. Many people don’t save enough, some save too much, and others save just enough. Yet, half of U.S. households‘ retirement savings fall short, so financial experts often encourage people to save more. But what about the other…
When making the decision to get married, we generally do so with the best of intentions. Partners set out living their lives together in anticipation of the relationship being “til death do us part”. Unfortunately, life has a habit of getting in the way of…
Homeschooling was on the rise before 2020. But the number of homeschooling families grew remarkably during the Covid-19 pandemic. Many children eventually returned to traditional school, but several continued schooling at home. The growing popularity of homeschooling has more families with school-age children considering it…
As you plan for retirement, your investment allocation is not the only thing that changes as the years pass by. In fact, the very task of retirement planning evolves over the decades. Just remember, the sooner you start saving and investing for your future the…
Most people have some knowledge about the concept behind an Individual Retirement Account (IRA). What most people don’t know is there are material differences between IRAs offered by banks and credit unions and those offered by investment firms and other types of financial institutions. Since…
Pop quiz! What’s the difference between a “financial advisor,” an “investment advisor,” and a “wealth manager”? These are just a few of the job titles you may encounter in the personal finance and investing advice space. Unlike a doctor, these titles are not regulated by…
Are you thinking about quitting your job? You’re not alone. Most people feel like leaving their job sometimes. Because even in the ideal position, bad workdays happen. But if you’re like 73% of workers today, you might consider leaving your current employer searching for something…
You’re busy researching your next big vacation. As you look at all your options, you notice suggestions to buy travel insurance on most trip summary pages. When you consider what you’re going to spend on a trip, coverage might make sense. This trip will cost…
It’s essential that all Americans have access to some kind of retirement savings account. The government and IRS need to always support this access because Social Security distributions are not intended to be the total extent of one’s retirement income. For individuals employed by mid…
Many people in America have some basic knowledge about the stock market. At the least, they hear news about stock prices related to some of the world’s largest entities. At the same time, many people have very little knowledge of the availability of various classes…
At a time when the U.S. stock market and currency investments have become volatile and unpredictable, a conservative-minded or risk-averse individual might go in search of safer investment alternatives. In some schools of thought, U.S. Government-backed investment options might be the right place to look….
“If you don’t know where you are going, you’ll end up someplace else.” – Yogi Berra This, without question, is my favorite quote about planning. It encapsulates, as only the great baseball coach and manager could, the very first pitfall of financial planning – not…
Experiencing stress is a part of being human. We need some pressure to push us, but too much can lead to anxiety and depression. While it’s normal to feel heightened stress levels when we’re in danger, excessive strain can damage our physical health, wealth, and…
One of the best rules of thumb for retirement planning is to start saving early and never prematurely touch the money you’ve earmarked for retirement. If you’ve waited to start saving, haven’t saved enough, or have borrowed against your retirement accounts, all is not lost….
It’s a new year, and all thoughts eventually turn to taxes. January is the perfect time to understand last year’s tax implications and plan your strategy… for next year. Often when one thinks of how to write a smaller check (or get a larger refund)…
The holidays are a wonderful time of year. It’s also an ideal time for reviewing the past year and making plans for the next. Don’t forget about the crucial step of setting yourself up for success; establishing a financial plan for 2022. A financial plan…
Socially responsible investing (SRI), social investing, or sustainable investing, is an investing style where you make sure what you invest in matches up with your values and beliefs. When you invest in socially responsible stocks, bonds, or mutual funds, you take into account the financial…
Let’s start with the stats. The reality is that when many people plug their investment account balance into the common retirement income calculators, the results are discouraging and, frankly, depressing. According to Fidelity Investments, the average 401(k) account balance for 50-somethings is a meager $160,000….
If you don’t have a will, or it’s been some time since the drafting of yours, you’re probably wondering what estate planning costs today. Looking for legal help isn’t like shopping for new shoes; it’s not easy to compare legal fees online. Estate planning doesn’t…
Rarely anything happens without a plan. Even your daily to-do list is essentially a plan. If something isn’t on that list, the chances of it getting done go down dramatically. So your financial security certainly isn’t going to happen without your attention. But I’m Going…
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Shopping is very much a part of everyday life, especially in today’s world of one-click purchases and Apple Pay. But when shopping becomes a compulsion, you buy things you don’t need, or you’re deeply in debt because of your purchases, there may be a bigger…
Meal kits have been around for several years, but they soared in popularity once the pandemic began. You likely see ads for a meal kit delivery service everywhere, on your social media feeds, television, and magazines. The companies’ names are fun and catchy such as…
Calculating your personal savings rate is one of the best ways to see how well you’re doing financially and how quickly you can expect to reach financial independence. It’s also one quick and easy measure of how this year compares financially to prior years. What…
While enjoying coffee with a friend, she told me that she was considering changing financial advisers. As we were talking it brought to mind many of the frustrations I had when managing a financial advisory business. It’s very hard to get clients and advisers on…
Saving more money means reaching your money goals faster. The good news is, there are thousands of money-saving ideas to help you save on everything! Indeed, cutting expenses and saving on purchases is a great way to build savings faster. Yet there are times when…
Most of us have at least some medical bills each year. And with the rising cost of medical care, they can add up even when you have health insurance. The good news is, most people with employer health plans have access to tax-deductible medical savings…