Financial Wellness @ Work

How to Assess Your Financial Wellness

Last week, we started to explore the concept of financial wellness, a term used to describe our complete financial picture or overall financial health. The following question was presented as food for thought – what does financial wellness mean to you?  Read more

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What Are Your Monkeys and Bananas?

One of the phrases my coworkers and I used a lot (at another firm during my career) in times of frustration was “monkeys and bananas.” That was our way of saying that we were operating under a bunch of constraints and no one could explain a logical or rational reason for those constraints.  “That’s the way it’s always been done…” is the beginning of an explanation that would always irritate me.  Just because something has always been done that way doesn’t mean it’s the way it should continue to be done.  So…how does that relate to monkeys and bananas???  Read more

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Should You Use a Commission Based Advisor?

When it comes to getting advice with your money, are you suspicious of financial advisors? How can you find one that you trust? We received another question from our Ask a Planner campaign on Facebook last week asking “Is Edward Jones looking out for the best interest of clients? Is it best to rather use a fee based CFP®?”    Read more

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Things You Need to Know About Social Security: Will It Be There?

When I facilitate a workshop or webcast on retirement planning, I like to poll my audience to see which areas of retirement planning they would prefer to spend more time talking about. The audience generally ranks saving and investing for retirement as their top two choices but depending on who is in the audience, Social Security may rank as third. Even when it doesn’t, I find it amusing that a government benefit that some are skeptical will even be there by the time they retire ends up being the topic that generates the most questions. I guess it’s because it’s a source of retirement income that many are familiar with yet so few truly understand. Read more

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Could a Sonic Boom Crack a Windshield?

I had to make a call to my insurance agent today to report a claim on my broken front windshield.  My explanation for the needed repair sounded almost as absurd as “the dog ate my homework,” but the only direct link I could make to my windshield cracking was that a sonic boom broke the glass. I had gone to watch the Blue Angels Navy flight squadron fly over the Baltimore Inner Harbor as part of this month’s Star Spangled Spectacular, which is celebrating the 200th birthday of the writing of the Star Spangled Banner lyrics by Francis Scott Key. The Navy jets are VERY loud and I had parked my car at Martin Airport to see the take-off and landing of the squadron.   Read more

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What Does “Financial Wellness” Mean To You?

Last week, we kicked off “Ask A Planner Week” at Financial Finesse. This was designed to allow our social media fans and followers an opportunity to ask us questions so that our team of CFP® professionals can provide an unbiased answer. This initiative is being led by Erik Carter, JD, CFP® and you can check out Erik’s response to the first question “When Should You Sell Your Mutual Fund?” by clicking here to see his Thursday blog submission. We have already received many additional questions that are excellent and this is an ongoing initiative. So we encourage others to keep the questions coming in to Facebook and TwitterRead more

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How Our History Can Help Us Shape Our Future

200 years ago, Francis Scott Key wrote the Star Spangled Banner in the Baltimore harbor near Fort McHenry.As a Baltimore guy, this past weekend was glorious.  There were thousands of people celebrating the bicentennial of the Star Spangled Banner in the Baltimore area, tall ships from all over the world were in the harbor, the Blue Angels were doing aerial shows, there were fireworks and the Orioles were beating the Yankees in an important series.  (That has no bearing on the bicentennial, but it makes being in Baltimore a lot more fun.)  It was a great weekend to look back at our country’s history and reflect upon where we’ve been as a country and where we’re headed.  Read more

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When Should You Sell Your Mutual Fund?

As the stock market reaches new highs, have you been wondering if you should sell and take profits before the next eventual dip? If the stock market does take a dip, should you sell and cut your losses? With the launch of our “Ask a Planner Week” on Monday, here was the first question we received: “I have absolute percentage rules for taking profits and losses on individual stocks. When should one consider taking profits or losses on index funds?” Read more

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Cyber-Thieves Strike Again: What To Do If You Are a Victim

Well, it’s happened again. Another national retailer has had its payment systems hacked. This and similar cyber attacks against corporations appear to be on the rise so as a consumer you will want to be especially diligent in watching your accounts for unauthorized use. The Consumer Financial Protection Bureau (CFPB) offers four steps you should take when you suspect that your debit or credit card information has been compromised: Read more

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Power Tools Aren’t Just for Professionals

Are you an HGTV fan like me? If so, you’ll probably be watching the premier tonight of The Jennie Garth Project, where the recently divorced 90210 star takes on a rehab of a 1970s ranch home in Hollywood Hills.  Based on the previews, she’s not afraid to pick up a power tool to get the job done. Read more

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