Helping pave the way towards financial freedom
More than half of Americans, participate in their company’s retirement plan. As of 2019, this equates to more than 77 million people. One of these people (a client of mine), recently asked if it was smart to use their 401(k) as a loan option. More specifically, it was a case where the options were: pay…
2020 will be a year we will never forget. From a global pandemic and civil unrest to an economic downfall that we continue to battle through today. Last year was a challenging time that has impacted millions of individuals around the world. For investors, I think it’s critical we revisit some lessons learned to better…
The final weeks of 2020 present a critical planning window for tax planning options—many that may disappear after December 31. In a year filled with financial and personal struggles, many investors can turn lemons into lemonade by implementing certain strategies. But, time is running out to do so. Before 2020 comes to an end, here…
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…
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…
Are you looking for ways to cut your spending? With the Covid shutdown, perhaps your income has shut down – or at least slowed down. Now is the time to evaluate your spending habits. I don’t consider myself a penny-pincher, but the reality is EVERY DOLLAR COUNTS. Not only that, but people have difficulty understanding…
Money is always in motion. I see this most often when a person leaves an employer, and it happens more than you’d think! Rarely do we see people staying at the same company for 30+ years then retiring. In fact, the average employment tenure is closer to 4 years. Whether you retired or are simply…
Taxes are a hot topic these days. Various politicians are using their tax agenda to position themselves for the next Presidential election. We are learning about who pays them (almost half of Americans don’t pay a dime!), how should people be taxed going forward, and debating on what is a “fair system”. Paying tax is…
With 2020 on the horizon, this is the time of year when many companies open their “enrollment period” for their employees to change their benefit elections. Many of my clients are in this period right now, so lately I have been having a lot of these discussions. Of course, each employer varies on what types…