Do you live within your means? If you answered yes, that’s a problem. Here’s why. Caleb and Jessica bought a new house last year and spent more than they planned. The expenses that accompanied their new home were more than expected. “We are still living within our means,” they explained to me, “but we can’t […]
Living Within Your Means is an Illusion Read More »
An old joke says that if you keep one foot on a hot stove and your other foot in an ice bucket, on average you should be comfortable. That line always makes me smile. It underscores a reality in the world of markets and investing—averages can be both mathematically accurate and experientially awful. Case in
The Problem with Those “Average Returns” Read More »
The stock market is at an all-time high. Which is great, right? Your 401(k) has never been higher, and you’ve never been richer! But wait. “What goes up must come down,” right? If the market is soaring now, is a dip—or a crash—just ahead? It’s a dilemma: Should we be content or concerned? Should we
Do These 3 Things When the Market is Soaring Read More »
When it comes to money, are you: (a) a financial wiz; (b) your own worst enemy; or (c) somewhere in between? In my 30+ years as a financial advisor, I’ve observed that by adulthood most people have developed a “financial self-image.” Maybe you’re one of those few souls who see yourself as good with money,
3 Ways to Improve Your (Financial) Self-Image Read More »
When my wife and I are on the interstate, nothing makes her more nervous than me passing an 18-wheeler. (In her defense, I’m not the one who would first feel the effects of a tractor-trailer swerving violently in our direction.) If she senses even the slightest movement our way, she ends up in my lap!
5 Ways You Can Be Safer Financially Read More »
How much income will you need in retirement? Here’s an eight-step plan for figuring that out. 1. Start with your current income. As an example, let’s assume you make $100,000 annually. 2. Assume some inflation. No one knows what inflation rates will be between now and your retirement. What we do know is that postage
Will Your Retirement Income Be Enough? Read More »
“Think I might be able to retire EARLY?” When I’m helping clients prepare retirement income plans, I often get this question. It rarely comes right away. In fact, many are initially unsure if retirement will be possible at all. But once we’ve gathered the relevant data, estimated how much income they’ll need in retirement, and
3 Facts About Early Retirement Read More »
Life is made up of promises, big and small. From marriages, to mortgages, to meals delivered on time, we depend on others—as they depend on us—to keep the promises that have been made. Take the young man who pledges to be faithful to his young bride “till death do us part.” That’s a promise he
Making and Keeping Promises Read More »
“When this new bunch in Washington raises everyone’s taxes, what’s going to happen to the market then?” I get questions like this a few times each week. And my honest answer is “I have no idea.” Will our taxes be raised? Possibly. But since I’m not a prophet, I can’t say for sure—government tax policy
Feeling Financially Out-of-Control? Read More »
Recently I spoke with someone who runs the computer network for a large company. When most employees started working from home due to COVID-19, this man was able to see what each worker was doing all day every day. “I could save my company a million dollars,” he said. “I can tell who’s working and
How Hard is Your Money Working for You? Read More »
Speak with an Advisor