Financial Planning
The Real Answer to Your Financial Questions: It Depends
When it comes to personal finance, one of the most common—and frustrating—answers you’ll hear is, “It depends.” Whether you’re asking about the best way to invest, how much you should save for retirement, or how to minimize your tax burden, the response is often the same. And while “It depends” might seem like a cop-out,…
Read MoreWho Was Your First Financial Advisor?
When we think of financial advisors, we often think of people in suits with charts and financial plans. But our first “financial advisor” is usually someone closer to home—a parent or friend who influenced our money mindsets. While they didn’t provide professional financial advice, they may have shaped your feelings towards saving, spending, and other…
Read MoreShould I Pay Off My Mortgage?
Being unsure whether to pay off your mortgage or not is a good problem to have. It means you have significant savings and have afforded yourself some choices. While the idea of being debt-free is appealing to many, there are also compelling reasons to keep your mortgage. Let’s explore both sides of the debate to…
Read MoreHaving the “Money Talk” with Aging Parents
Discussing finances with aging parents is never easy. As a result, many families simply delay these conversations or avoid them altogether. This can lead to unexpected financial surprises, misunderstandings, and even conflicts down the road. By talking openly about money, you ensure both their future and yours are secure, prevent potential disputes, and help in…
Read MoreSocial Media’s Impact on Your Money Mindset
There are a variety of viewpoints on how social media influences our society – both good and bad. After all, some people are spending hours a day on these platforms and we need to be aware of their impact. From our vantage point, we’re paying close attention to how these networks influence our clients’ spending,…
Read More5 Things You Didn’t Know About 529 Plans
When it comes to saving for your child’s education, 529 plans are a popular choice due to their tax advantages and flexibility. However, there are several lesser-known aspects of 529 plans that can enhance your saving strategy. Here are five things you might not know about 529 plans: 1. You aren’t limited to the 529…
Read MoreAre You Following the Financial Herd?
Herd mentality is the tendency to follow the actions of a larger group, even when those actions might not be in one’s best interest. When it comes to finances, herd mentality can have significant implications for your investments and retirement planning. The first step to avoiding this common bias is understanding its prevalence. Second, is…
Read MoreInvesting 101: Compound Interest
Compound interest might sound complex, but it’s actually based on a very simple principle: earning interest on your interest. Here’s a clear and simplified way of understanding this important concept. Imagine you save some money, let’s say $100, which grows at 10% annually. At the end of the first year, you earn 10% interest on…
Read MoreWhy Do We Worry About Money?
It may be surprising to hear, but even those who’ve accumulated substantial wealth may still worry about money. While financial success often brings comfort, it doesn’t alleviate every fear, insecurity, or concern. These fears run deep, often stemming from childhood experiences, societal pressures, or the responsibility of managing wealth. Understanding the psychology behind this phenomenon…
Read More5 Ways to Incorporate Unexpected Cash in Your Financial Plan
Receiving an unexpected sum of money can be a welcome surprise, but deciding what to do with it can be a challenge. Should you save the money or pay down debt? Invest the funds or donate to charity? While rushing to book a vacation with proceeds from a windfall may be tempting, it might be…
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