Finding Some Good In My Worst Financial Decisions

October 26, 2015

Have you ever made some really dumb mistakes with your money? Perhaps your rational brain was screaming “No!” at the time but your emotional brain won the battle.Well, even though I may be a professional financial planner tasked with leading others to smart financial decision-making, I’ve had some major money missteps along this journey called life too. This week is the first in a series of blog posts about a few of my biggest blunders and how I tried to turn those mistakes into some good old fashioned life lessons. (Unfortunately, some life lessons can be quite expensive.) Continue reading “Finding Some Good In My Worst Financial Decisions”

Downsizing Your Retirement Expenses

October 12, 2015

As people get closer to retirement, priorities change. The financial resources spent on home improvements and the time and energy necessary to maintain a full-sized home often become a little more of a burden. As kids leave the house and launch into their careers and start building their own families, there’s often a bunch of unneeded space. Continue reading “Downsizing Your Retirement Expenses”

Passive Income Strategies For Retirement (And Now)

September 28, 2015

Last week, I had lunch with my good friend Brian who just happens to be a local realtor. Normally when we hang out, it is on the soccer field so as a result, we don’t get to discuss business too often. However, our recent discussion was a little different because we actually had time to talk about some passive income strategies. Continue reading “Passive Income Strategies For Retirement (And Now)”

Are You Financially Exposed?

August 31, 2015

If you had to expose your finances or pictures of yourself wearing only your “birthday suit,” which one would you choose? A recent survey from MasterCard revealed that a majority of Americans are concerned about financial information and Social Security numbers being exposed. In fact, consumers said they were less concerned about having their email accounts hacked (62%) or having their home robbed (59%). Going back to that not-so-lovely thought of having your private pictures made not so private, 55 percent said they would rather have naked pictures exposed online than their personal financial information stolen. Continue reading “Are You Financially Exposed?”

Is Uber Cheaper Than A Car Payment?

August 24, 2015

My colleague Doug Spencer asked himself that question when his oldest daughter began to drive and so far for him, the answer is “yes!” Like many families, they have two busy kids going in different directions for school, activities and work and with a third driver, a third car seemed like the answer. For many people it probably is, but here are the reasons that Doug has decided to hold off on purchasing another car: Continue reading “Is Uber Cheaper Than A Car Payment?”

Is Your Financial Plan Too Complicated?

August 17, 2015

I am a big fan of the KISS principle when it comes to having a written financial plan.No, I don’t mean the Paul Stanley and Gene Simmons version of KISS. (Although I’m a big fan of Rock & Brews every time I’m out in El Segundo, California.) I mean Keep It Simple Stupid (or keep it simple smarty-pants if the word “stupid” is deemed offensive in your household). Continue reading “Is Your Financial Plan Too Complicated?”

Can You Put Your Investment Plan On A Note Card?

August 10, 2015

Does investing seem complicated? Despite the presence of overly complicated financial strategies and the often vexing financial jargon used by financial professionals, investing does not have to be so complex.Investing is simply a balancing act where the challenge is to find the ideal balance between risk and reward. Continue reading “Can You Put Your Investment Plan On A Note Card?”

How To Determine Your Financial Priorities With A Late Start To Retirement

July 20, 2015

We hear a lot about the retirement crisis in America and there’s a great deal to be concerned about these days. With a decline in pension availability and concerns about the long-term viability of Social Security, the burden of saving for retirement rests squarely on our shoulders. However, the average American has less than $25,000 in total savings and investments for retirement (see EBRI’s 2015 Retirement Confidence Survey). Continue reading “How To Determine Your Financial Priorities With A Late Start To Retirement”

Should You Plan For Retirement Or Seek Financial Independence?

July 13, 2015

When our team of financial planners asks others about their top financial concerns and priorities there is a consistent answer – retirement. In fact, our financial wellness reports usually show that every age group with the exception of those under 30 indicate that their top financial planning priority is indeed retirement planning. This probably comes as no surprise because everywhere you look these days financial services companies are bombarding us with clever messages to shift our focus to retirement. The Financial Finesse blog team, which I am a contributing member of, frequently writes about different aspects of the retirement planning process as well. Continue reading “Should You Plan For Retirement Or Seek Financial Independence?”

Continue Celebrating Freedom All Year Long

July 06, 2015

I have fond memories of Independence Day weekend dating back to my early childhood days. Our traditional family vacation spot was always the Emerald Coast on the Florida panhandle right in the heart of what some affectionately refer to as the “Redneck Riviera.” I’ve always felt the gravitational forces pulling me towards the coast and as a result, the “married with children” version of my immediately family also likes to head to the coast to celebrate our nation’s birthday. Continue reading “Continue Celebrating Freedom All Year Long”

7 Things To Do Before Summer Is Over

June 29, 2015

Most of us would agree that it’s important to schedule regular medical and dental check-ups at least once per year. Whether or not we actually follow through with those wellness visits is another story. I admit to recently realizing that I am long overdue with the scheduling of my annual check-up so last week I dedicated an entire 15 minutes to the schedule so I could get those “should be” routine visits on the calendar. Continue reading “7 Things To Do Before Summer Is Over”

Your 4 Week Financial Check-Up Challenge: Week 1

May 18, 2015

Live – Plan – Thrive!!! That is the simple and straightforward mantra that I use to explain the financial life planning process. When it comes to getting and keeping others engaged in the financial planning process, the biggest challenge isn’t usually related to financial knowledge. It’s a general lack of planning. As the old saying goes “people don’t plan to fail, they fail to plan.” Continue reading “Your 4 Week Financial Check-Up Challenge: Week 1”

Slaying the Three Headed Debt Monster

May 11, 2015

I recently met with a couple (let’s call them James and Julia) in their early-40’s with two young children. I could feel the stress and tension enter the room before they even took a seat in my office. If you’ve ever been around friends that were obviously not getting along, you probably recognize that feeling as all positive energy exits the room the moment the couple in distress enters. This couple’s debt-related stress was not just affecting their relationship, it was starting to impact their friends. Even more potentially devastating, debt-related stress was starting to take a toll on their physical health and well-being. Continue reading “Slaying the Three Headed Debt Monster”

Should You Sacrifice Retirement to Pay For College Expenses?

April 27, 2015

Should you focus your financial plans on funding your children’s college education out-of-pocket or through parent loans? This is a question on the minds of many parents that I speak with on a regular basis (and also a question that I personally have to deal with having a third grader and a kindergartener growing up too fast). The retirement vs. education question gets even more challenging when children reach high school and the time horizon to save gets shorter. Continue reading “Should You Sacrifice Retirement to Pay For College Expenses?”

Why You Might Need Umbrella Liability Insurance

April 20, 2015

It is no secret that debt is a major obstacle on the path to financial wellness. Imagine what it would be liked to be saddled with a debt that follows you around for the rest of your life. There are many people that find themselves exactly in that position after a disastrous incident, and it’s not because they weren’t insured. It was because they weren’t adequately insured with the right type of insurance. Continue reading “Why You Might Need Umbrella Liability Insurance”

5 Things You Need To Know About Auto Insurance

April 13, 2015

If you own a vehicle, maintaining sufficient auto insurance coverage is a necessity. Unfortunately, this area of our financial lives can become easy to neglect over the years. This is why an annual review of our insurance policies should be part of the financial planning process and those auto insurance policies need more than just a passing glance. If for no other reason, a refresher on the basics of auto insurance can help save you money while providing reassurance that you are protected for those “life happens” moments that can occur while behind the wheel of an automobile. Here are 5 things to know about auto insurance: Continue reading “5 Things You Need To Know About Auto Insurance”

Are You Up To Our 30 Day Challenge?

April 06, 2015

Last Tuesday, President Obama proclaimed April 2015 as National Financial Capability Month and called “upon all Americans to observe this month with programs and activities to improve their understanding of financial principles and practices.” The goal is to “take time to increase our knowledge of our finances and encourage our friends and family to do the same.” He then pointed out the free financial resources available at MyMoney.gov, ConsumerFinance.gov, and 1-800-FED-INFO. Continue reading “Are You Up To Our 30 Day Challenge?”

Stop Going Through the Motions of Filing a Tax Return

March 30, 2015

Spring is a busy time of year here at Financial Finesse. While we are always busy providing financial guidance with passion and objectivity, the tax season and the April 15th deadline provide an extra sense of urgency for many callers reaching out to us on the Financial Helpline. Many of the income tax specific calls we receive can be characterized as information seeking and tend to be reactive discussions. When you think about the tax filing burdens created by a complicated tax code, the IRS can strike fear into hard working taxpayers to try and get things right. Continue reading “Stop Going Through the Motions of Filing a Tax Return”

Is It Time to “Gamify” Your Financial Plan?

March 09, 2015

Managing finances can be a real challenge for many of us.When it comes to reaching our most important life goals, we’re not talking about a game here. We’re talking about something far more relevant in our lives such as our visions for the future, values, and life goals. Continue reading “Is It Time to “Gamify” Your Financial Plan?”

Financial Lessons From the “Game of Life”

March 02, 2015

Recently, my family had one of those cold, winter weekend days where the social calendar was completely empty: no birthday parties, no basketball games, no play dates, and no plans. I am usually very eager to get out and explore all of the beauty outside of our little casa but my initial reaction was relief and joy because the “Mom & Dad shuttle” was staying at home for a change. This was an excellent plan until the excitement of a lazy stay-at-home day getting some household chores wore off and Monster #1 and Monster #2 decided they could no longer coexist peacefully in our house. Continue reading “Financial Lessons From the “Game of Life””