In the unlikely event of a loss of cabin pressure, panels above your seat will open revealing oxygen masks. Reach up and pull a mask towards you… Secure your own mask first before helping others. If you have ever flown on an airline, you have no doubt heard this speech. When I fly with my children,…
Mistakes made when planning for your retirement can have disastrous consequences. Here are eight critical (but common) errors you should avoid… 1. Don’t retire away from a job; instead, retire to a well-designed retirement plan. Spend time thinking about what you want to do in retirement. What will you do every day? Will you…
Eight out of every ten American adults have some form of debt. Properly managed, debt can enhance a person’s lifestyle. For something so common, though, people often have conflicting emotions about it. In fact, debt is the top cause of financial stress in the United States. The situation is not helped by the hysteria and…
Mahatma Gandhi said, “The best way to find yourself is to lose yourself in the service of others.” A 2008 study by Harvard Business School found that giving money to someone else lifted participants’ happiness more that spending it on themselves. These good feelings are reflected in our biology. In a 2006 study, the National…
In the world of finance, there is an SEC guideline called the “Accredited Investor” rule that limits the public’s ability to invest in unregistered securities unless the individual meets certain income and/or net worth standards. Or stated more simply, the SEC limits those riskier private investments to more affluent – and presumably more “sophisticated” –…
How much money do you need to retire? It’s a familiar question with an unsatisfying answer: it’s complicated. It depends on how much you’ve socked away, how much income you’ll have coming in, how much you plan on spending and how long you live. There’s no one size fits all, it’s unique to you. To…
Two tax bills enter, one tax bill leaves. The House and Senate have both passed differing versions of a new tax bill. Now the bills go to committee in an attempt to reconcile the differences. Both versions involve increasing the standard deduction, reducing personal income tax rates, and removing many itemized deductions. Both bills also…
Many people dream of receiving a sudden financial windfall. Wouldn’t it be great to win the lottery or get an unexpected inheritance? But when someone you love dies and leaves you with a large amount of money, the experience is usually much different than expected—especially if the loved one is your spouse.
Now that we’ve started the new year, this is a great time to take a fresh look at your financial picture and update things that may be stale or outdated. To help you do that, here are eight ways to improve your financial health in 2017.
Recently, while meeting with a prospective client, I was asked what value comprehensive financial planning adds to the wealth management process. It’s a good question—and a common one.
