Our legacies are so much more than money. One of my sons recently got married. It was a beautiful event, and it got me reflecting on my own experiences when I was in my thirties. At that age, as a young husband, father and budding financial planner, did I make good...
Paul K. Fain, III, CFP®
Real Financial Planning Means Figuring Out What Matters Most To You
The true purpose of a financial plan is not about amassing wealth for its own sake. It is about building a life that aligns your money with your values, goals and sense of purpose. That — not purchasing a particular investment, or an annuity or additional life...
The Psychology of ‘Enough’: Redefine Success Through Your Own Values
For many of us, the question “How much is enough?” is less about math and more about mindset. From the outside, it might look like someone has “made it” – a strong income, a beautiful home, a growing investment portfolio. But inside, that same person may still feel...
Turn Market Lemons Into Lemonade
It was one of my father’s favorite adages: “Turn a lemon into lemonade.” When markets turn sour, most investors feel the sting. But here is a perspective shift: Downturns do not have to be disasters – they can be opportunities in disguise. There are several ways to...
Don’t Let Fear and Uncertainty Cause You To Make Poor Financial Decisions
In personal financial planning, fear is not your friend. Anxiety and worry cloud our judgment and compel us to make poor decisions. If a world of worry is the new status quo, what is the road less traveled? Identify your fears, accept the worries beyond your control,...
An Effective Financial Plan Is More Than Just Numbers
When people think about financial planning, they often picture spreadsheets, investment portfolios, and retirement projections. While these are important, they tell only part of the story. A truly effective financial plan is about more than just numbers – it is about...
Financial Soothsayers’ Forecasts Fell Short For 2024
Let’s have a little fun at someone else’s expense. What do fortune-tellers, tea leaves, and Ouija boards have in common? Their predictions are more accurate than Wall Street forecasts. As one financial writer puts it, “Annual stock market forecasts are a sad, legacy...
Year-end Economic Review Presents No Immediate Causes for Concern
In the year-end retrospective, our stockings were stuffed with a combination of oranges, walnuts and coal. In other words, life sometimes brings us a lump of coal, but we usually can find simple blessings to be grateful for. For instance, we avoided a much-anticipated...
How to Go On the Defense Against Financial Scams
Knoxville estate attorney Lisa Gammeltoft is on a mission to raise awareness about financial scams. The holidays are a peak season for fraud. I recently attended one of her presentations, “From Catfishing to Pig Butchering: Scammers Are Stalking Your Clients.” “People...
Financial Resilience Requires Planning
With approximately nine weeks remaining in the year, it is an opportune time to review your personal financial plan. I encourage you to take a “financial resilience” self-audit. Is your financial plan ready for the unexpected? Are you prepared for future shocks?...