On this Independence Day, I and all of the employees of Financial Finesse would like to wish you and those you love a very Happy 4th of July! Go out, have some fun, eat some burgers or dogs or tofurkey, watch some fireworks and come back ready to finish the second half of the year on a positive note financially!
When doing retirement planning sessions with people, we often talk about their retirement resources in order to help them plan for the future. We look at any pension incomes that will come their way. We look at their savings and investment accounts, their contribution levels and the potential growth of those accounts. Continue reading “Why Your Social Security Projection is Probably Wrong”
If you ask most financial planners when is the best time to borrow money from your 401(k), the overwhelming answer will be “NEVER”! And, for the most part, I agree with that. But, like almost every rule, there are exceptions. Continue reading “When is Borrowing From Your 401(k) a Good Idea?”
I have heard a lot of people say jokingly that they wish they had the financial resources of a random famous person. Take Michael Jackson. Houses, cars, amusement parks in his backyard, animals galore…he seemingly had it all from a financial wherewithal standpoint. Continue reading “Is Your Financial Life a Thriller?”
My daughter’s favorite animal is the koala bear and that was never more apparent than when she and I went to the San Diego Zoo and saw the koalas there. Her reaction: “KOOOOAAAAALLLLLAAAAASSSSS!!!!!!” – if I recall correctly. We talked about koalas and why they hug trees. We had no idea, but now with this article we know the answer. Continue reading “The 2 Big Financial Mistakes Most People Make”
I’ve played one sport or another virtually my entire life. And, along with playing, I enjoy watching as well. One of the many things I love about sports is that it is just so unpredictable. Continue reading “Going Against the Odds”
I just got a new laptop and had to figure out what to do with all of my old files, work and personal, along with music, photos, and video. It was a chaotic mess. There was my old personal laptop, my old work laptop, an old desktop and an iPad all in one corner. It was like the land where technology goes to die. I wasn’t totally sure how to manage the craziness that had become my tech life. Continue reading “I Don’t Even Know Where to Start!”
By “magic number,” I mean how much money will you need in order to retire comfortably? Without giving away too much, let me answer briefly. A WHOLE LOT!!!! Of course, it’s going to be a different number for each of us and there are countless ways to arrive at a number that makes sense for your life so my goal here is to try to help you figure out a reasonable estimate of what you might need without having to run numbers on a spreadsheet or a website that may or may not be worth the time it takes to prepare the estimate. I’m not saying it’s going to be super-easy but at least it won’t require much math! Continue reading “What’s Your Magic Number?”
A question that I get very frequently is “When is the best time to take my Social Security benefits?” The real answer can only be determined if we know a few minor details. So, if you know these things, we can make a precise calculation. Otherwise, we have to make an educated guess. Continue reading “When Should You Take Social Security?”
Last week, I wrote about signs that you might have an issue with credit cards and potentially even be a credit card addict. Do any of those behaviors ring true with you? If so, you might want to make some serious tweaks to the way you manage your financial life. Continue reading “You Might Be a Credit Card Addict If… (Part II)”
When I sit down to talk with someone about their finances, I get the basic information about how they are positioned in various areas of life such as age, kids, income, 401k contribution percentage and balance, other investments, rent/mortgage, other debts, etc…the standard questions a financial planner asks to quickly assess a situation. Something that is more common than I’d like it to be is hearing about the way people “manage” their debt load. When I read this article about credit card addiction, it really struck a chord with me. I have heard each of the 10 behaviors that indicate a potential problem with credit cards…recently. Actually, I’ve heard all of them in just the last week. Continue reading “You Might Be A Credit Card Addict If…”
Over the last few weeks, I keep hearing that women are paid only 77% as much as men and that claim boggles my mind. My first thought when I hear that is “businesses should fire every man working for them and hire women at a discount.” Apparently, I’m not the only one that wonders about the implications of that oft-repeated statement. A Wall Street Journal column wonders the same thing. It’s an interesting read, and clarifies some of the numbers that don’t get nearly as much press. But most people I know, when asked (and I’ve asked a few people today), know the 77% statistic because it’s repeated in the news so often. That made me wonder: “what other things do we “KNOW” that aren’t really as simple as the “fact” that gets repeated very often? Continue reading “Don’t Believe Everything You Hear”
Since the time I was a kid (and my kids would tell you that’s a LONG time ago…), I’ve seen movies with Mickey Rooney on the screen. He was probably one of the most recognizable men in America for a long period of time. He was a major Hollywood star. And he was always working. Continue reading “Seriously, Mickey Rooney???”
Yes, I’ll admit it. It’s embarrassing and I’m not proud of it but I will confess that I have spent hours playing Candy Crush Saga on my phone. Mostly at airports or on rental car shuttle busses, but I have played the game for more hours than I am proud to admit. Continue reading “My Embarassing Confession”
Call me what you may, but I love stories about lousy customer service. Maybe because I’ve seen so much of it, seeing stories about it lets me know that I’m not alone in the world. So when I saw this article about companies with the worst customer service reputations, it made me smile. I can’t explain why, but that’s my reaction. And the thing that makes me laugh is that it doesn’t take that much effort to change the perception of lousy vs. great customer service. Continue reading “Little Things Can Make A Big Difference”
The old expression “keeping up with the Joneses” has led far too many people into living a lifestyle based on consumerism, having a nice house, nice car, nice clothing, and nice vacations, but a not-so-nice balance sheet. I have seen this happen more times than I care to remember with clients, friends and family. In fact, early in my married life, I fell into the same trap. We lived a very nice lifestyle and had a lot of “stuff” in our lives. Fortunately, I was able to put together a savings plan that came first, so we didn’t become fully immersed in that kind of lifestyle. Continue reading “Less Can Be More”
As I write this, there is a lottery jackpot in excess of $200 million that has people lined up to buy tickets. Someone (or maybe a few people) will walk away with way more money than they ever dreamed of having. Sometimes, that can be great. Sometimes, not so much. Continue reading “Found Money Can Be a Blessing or a Curse”
I read this article about Delta Airlines’ changes to their frequent flyer program. Actually, it’s no longer accurate to call airline rewards programs “frequent flyer” programs. The trend in the airline industry is moving away from rewarding people for number of flights and/or miles flown in favor of rewarding travelers for dollars spent. In essence, they are morphing into “expensive flyer” programs. As someone who flies a lot for work, this article resonated with me. Continue reading “How Rewarding Are Your Rewards?”
One of the things that makes me happier than anything in the world are the relationships I have with my children. As a proud dad, I’d like to believe that I have three absolutely amazing kids. And, I’ve been told by many people over the last 18 years that my view is fairly close to reality. Continue reading “What A Concert Festival Can Teach About Your Budget”
In a move that could go down as one of the more surprising moves I’ve seen from a business in quite a long time, CVS has announced that by October 1st they will no longer carry tobacco products in their stores. That sounded “interesting” when I first heard about it. And then I heard how much money they made each year in cigarette/tobacco product sales…$2 billion! Continue reading “Could You Walk Away From $2 Billion?”
