Retirement is a goal that the majority of Americans want to reach. Many people wait to ask the right retirement questions despite knowing the importance of taking steps to save as early as possible. Another potential roadblock on the path to retirement is that not everyone shares the same definition of what “retirement” actually means to them. No matter what your ideal […]
While finding a partner for life is by itself a significant challenge, basic money management is perhaps a bigger challenge to the institution of marriage itself. Just recently, my wife and I had one of our regularly scheduled “money talks” and we talked about our own money history. These talks really aren’t anything too fancy or intimidating, but they provide […]
Does investing seem complicated? Despite the presence of overly complicated financial strategies and the often vexing financial jargon used by financial professionals, investing does not have to be so complex.Investing is simply a balancing act where the challenge is to find the ideal balance between risk and reward. To generate the returns needed to meet long-term goals such as retirement, […]
The financial life planning process can appear completely overwhelming at first glance. There are so many different moving parts in life and it can be difficult to incorporate our goals and values into a genuine financial action plan that meets us where we are along the journey. Traditional approaches used by many financial advisors only scratch the surface of identifying […]
The purchase of a home is one of the most important financial decisions you will make. When making a home purchase decision, you have to work hard to avoid letting your emotions and global economic conditions call the shots. Nobody can predict with any consistent long-term accuracy exactly what is coming around the corner for our nation’s economy or for […]
The new normal throughout the COVID-19 pandemic has been a prolonged period of extreme volatility. Although market swings in the short run are expected and completely normal, the awareness of these price swings can lead to abnormal emotional decisions that often lead to bigger problems that can hurt our overall financial health. Behavioral finance research has demonstrated that our emotions […]
The majority of financial planners generally suggest that an essential financial life goal is to maintain enough money in an emergency savings fund to cover at least 3-6 months of necessary expenses. As long as you meet the income limits (or can fund a backdoor Roth without tax issues), one option to consider for your emergency fund is a Roth IRA. Here are 3 […]
Can one single word change your financial life and perhaps completely change your life story? Sound a little too simplistic? Before you dismiss the possibility that one single word can have transformational powers, ask yourself one question: Is my financial life just a little bit too complicated? If you answered ‘yes,’ I officially declare you normal and a card-carrying member of […]
I am talking to a lot of people lately who are feeling overwhelmed by their student loans. The staggering amount of student loan debt in our country has been a shocking wake-up call as the outstanding debt has surpassed $1.5 trillion. While high student loan balances are having a significant impact on people of all ages, they are particularly stressful […]
We hear a lot about the retirement crisis in America. With a decline in pension availability and concerns about the long-term viability of Social Security, the burden of saving for retirement rests squarely on the shoulders of individuals. According to EBRI, only 17 percent of American workers are very confident they will have enough for a comfortable retirement (see EBRI’s 2018 […]