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?...
retirement planning
For Effective Planning, Learn Your Retirement Income Style
It is a critical question affecting one-third of your lifespan: What is your retirement income style? There is not a “right” way to generate a retirement income. The key is knowing your preferences. For example, do you prefer the stability of a guaranteed income or...
Following These Steps Can Lead You to Financial Freedom
What is financial freedom? The answer is a slightly different picture for everyone. But there are some common characteristics. According to Dr. Brad Klontz, Psy.D., CFP and an expert in financial psychology, “What we want to focus on is that financial freedom where...
Financial Folly or Just Bad Luck?
Let’s face it, we all make mistakes. What are some common financial planning mistakes? To name a few: Overspending. Underestimating life expectancy. Neglecting to develop an eldercare plan. Underestimating the impact of inflation. Buying annuities without...
What Is an Investment Anyway?
According to Investopedia, “An investment is an asset or item acquired with the goal of generating income or appreciation.” You can invest in a business, stocks, bonds, real estate, oil, cash, crops and more. Fundamental investments are oriented around ownership...
The Landscape of Retirement is Shifting
Life expectancy continues to rise, yet the COVID-19 pandemic accelerated many early retirements. The median retirement age is 62, but it is projected that two-thirds of people born today will live past age 80. Are we ready for a long retirement? The mind says “Yes!”...
Retirement is a Big Transition, so Plan Accordingly
It is one of life’s biggest transitions, retirement. The pandemic has scrambled the retirement plans of many people, accelerating retirement for some, delaying it for others. In any event, the topic should raise many quantitative and qualitative questions seeking...
Top Gifting and Tax Considerations to Know Now
TAX CHANGES IN 2021? Maybe. One of the possible implications of a change in the White House is tax regulations. Americans, blue or red, are asking the same question: are my taxes going to change? Joe Biden’s victory could spell changes in income, payroll, estate, and...
Stay Calm and Prepare for Another Wave of Pandemic Panic
Election Day is over. The sun rose the following morning. The stock market did not crash. So our attention has turned back to the pandemic. A second wave of the virus is surging across the nation. To wit, I was hospitalized (non-COVID) in June at the University of...
Hang in There, Things Will Get Better
Several weeks ago, I (virtually) attended the Vanguard Advisor Symposium. Sidebar: One of the unexpected silver linings to the COVID pandemic has been access to great meetings without the hassle and expense of air travel and hotels. The event kicked off with a...