Helping pave the way towards financial freedom
When thinking of topics to post about, I couldn’t help but think about some of the less desirable customer service experiences I have had lately. These kinds of things have been happening more and more recently, but here’s what has happened to me this month alone: My mortgage person has become non-responsive to my 2…
Although I observe, read, and learn a lot about the markets – I rarely have time to post about what’s going on. And I am typically busy doing planning with clients and rebalancing their portfolios. But here are some talking points and observations about the current landscape. As a backdrop, I have been observing a…
When it comes to monthly expenses, housing is often our greatest expenditure. Americans spend an astonishing average of 37% of their take-home pay on housing. That’s the average. Many people spend even more! Sometimes it just needs to be done…it’s unavoidable. But it’s a monumental decision that most people face – do I pay off my…
In today’s tax and investment environment, a Roth IRA is a great account to consider. Once in a Roth, funds grow tax-free, withdrawals are tax-free, and there are no required minimum distributions to take. I’m always looking for ways to get people to fund a Roth IRA. So if you like the idea of a…
We all know that prices typically go up over time: this is called inflation. Inflation is generally a result of an increase in the supply of money. As more money becomes available, the purchasing power of a dollar drops. As the value of the currency decreases, the prices of goods and services increase. We’ve seen…
I’m a daily podcast listener. I listen to 2-3 a day, and hundreds of them a year. Listening on 1.3x speed I can get through them quicker, typically when doing chores or getting exercise. A couple of years ago I shared my top 10 most frequently listened-to podcasts. I still listen to them and for…
Wall Street wrapped up the second quarter last week. It was one for the record books. The recovery from the “Coronavirus Contraction” has been substantial, but in many ways is still incomplete. April was a particularly strong month, and the entire quarter went down as one of the best in over 20 years. Lockdowns have…
Since 1997 I have been helping people with their money. Thousands of conversations later, with people from all walks of life, I think I’ve seen every possible mistake made. Don’t get me wrong. We all make mistakes. But as the old saying goes, “Only a fool keeps making the same one”. Humans by nature are…
Do you think a blizzard will drive up the demand for people wanting to buy snow tires or 4-wheel drive vehicles? Sure does. How about car dealerships – will they sell more convertibles once the weather gets warmer? Without a doubt. What is at play here is a psychological phenomenon called recency bias. It is…
Charitable giving is a personal choice, and several factors typically determine how much a person “gives” away. Financial status. Upbringing. Trust factors. Priorities. Egos. I’ve had this topic come up lately with clients – people wondering HOW MUCH SHOULD WE BE GIVING? HOW MUCH DO OTHER PEOPLE GIVE? It’s a welcome discussion, particularly with all…