Is A Financial Advisor Worth Paying For?

July 23, 2015

If you’re hiring an advisor to pick investments that will outperform the market, the answer is probably no. There’s no evidence that financial advisors’ recommendations add value in this way even if their advice were free. Add a 1% advisory fee and you’ll probably underperform the market. There are also now a host of “robo-advisors” that will help you put together and manage a customized portfolio of low cost index funds for a much lower fee. However, here are some services that may be worth paying a financial advisor for: Continue reading “Is A Financial Advisor Worth Paying For?”

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”

How Are Financial Advisors Like Congress?

June 24, 2015

If you voted for your congressman then they’re great but the rest are bums and if you voted against him then he’s a crook like all the rest. The same feelings are often held about financial advisors. How can the industry have such a bad reputation if so many people think that they have the only good one? Continue reading “How Are Financial Advisors Like Congress?”

Unbiased Financial Guidance: Q&A With Kelley Long

June 22, 2015

I consider it a privilege to be a part of such an amazing team here at Financial Finesse.It has now officially been four years since I made the decision to leave my financial planning practice to join the financial wellness movement and I couldn’t be happier with that decision. I’m also pretty stoked to always have a group of CERTIFIED FINANCIAL PLANNER™ professionals available to provide me with a second opinion on my own financial decisions or to just help me validate that I am on the right path with my personal financial life plan. Continue reading “Unbiased Financial Guidance: Q&A With Kelley Long”

Financial Lessons From The Game Of Thrones Season Finale

June 19, 2015

My apologies if you haven’t watched the Game of Thrones season finale yet. But if you haven’t and you’re a fan, exactly what are you waiting for??? I’ll take a few liberties with the show’s broader themes and hopefully won’t spoil anything that you haven’t already heard or watched. Continue reading “Financial Lessons From The Game Of Thrones Season Finale”

4 Financial Planning Tips For Irregular Income Earners

June 17, 2015

Both my wife and I earn irregular income as freelance writers. Our yearly income can vary significantly depending on what type of projects, contracts, or gigs we land. Many of our friends in Los Angeles earn their living in a similar fashion in fields like editing, sound design, acting, post-production, or line producing. Salespeople, farmers, contractors, small business owners, and artists will all recognize the challenges of financial planning while earning variable income. Continue reading “4 Financial Planning Tips For Irregular Income Earners”

Your 4 Week Financial Check-Up Challenge: Week 4

June 15, 2015

This week is the last in the Financial Check-Up series and the final opportunity to enter your name in a random drawing for a personal financial planning consultation. Multiple entries are acceptable so be sure to like Financial Finesse on Facebook (or like this blog), tweet us on Twitter, or enter your comments below to enter your name for a professionally guided financial check-up. All entries received by Friday, June 19 at 11:59 PM will be entered into the drawing and the winner of the financial planning consultation will be announced next week. (If the winner prefers to “pay it forward” the consultation is transferable and may be gifted to a friend or family member.) Continue reading “Your 4 Week Financial Check-Up Challenge: Week 4”

Your Financial Check-Up (Week 3): Achieve Your Most Important Financial Life Goals

June 08, 2015

It is week 3 of the Financial Check-Up Challenge and I’ve heard from readers who are participating in the challenge. I’ve also heard from others who basically told me, “I get it Scott. It’s important to check in occasionally to assess our financial health but LIFE HAPPENED and I didn’t get a chance.” Continue reading “Your Financial Check-Up (Week 3): Achieve Your Most Important Financial Life Goals”

The 10 Question Financial Checkup

June 04, 2015

Earlier this week, I spoke to a couple of callers to our Financial Helpline. One was a woman who had just inherited some money and wasn’t sure what to do with it and the other was a man who wanted a complete “financial checkup.” While seemingly very different questions, both involved looking for vulnerabilities or opportunities in their financial situations. Want to do the same thing? In honor of our 4 Week Financial Check-up Challenge, here are some questions to ask yourself: Continue reading “The 10 Question Financial Checkup”

What Is Your Family Vision?

May 19, 2015

Okay, I am somewhat of a geek. One of my favorite channels is HGTV. I am fascinated by how they can turn a home that looks like something out of a horror movie into a dream home. Continue reading “What Is Your Family Vision?”

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”

The Best Laid Plans…

May 14, 2015

Let’s face it. No matter how perfectly you plan your expenses, life will always throw you those unexpected curveballs that could wreak havoc on even the best of budgets. After all, it’s impossible to account for everything that could possibly happen to your life. I’m not just talking about the real emergencies like a broken car you need to get to work. There are also things like weddings to attend and your kid’s piano lessons…not exactly “emergencies” but not quite frivolous spending either. Here are some ways to prevent these expenses from derailing your financial plans: Continue reading “The Best Laid Plans…”

Financial Planning For Any Weather

May 06, 2015

In some parts of the country, May means beautiful flowers and beautiful weather but for most of us, it also means checking the weather app on your phone constantly to have a clue of what’s going to happen. Will it be a mild spring day, rainy, or shorts and flip-flop weather? At least you can get a good guess from the weather app, but what about the unexpected events in your financial life? How do you prepare for life’s unexpected changes? Continue reading “Financial Planning For Any Weather”

Why You Need to Talk to Your Kids About Money

May 01, 2015

I know that many people are hesitant to discuss money with their children — or their spouses/partners for that matter. I have talked about this with one of my pastors and he told me that people will come to him for help with all sorts of issues ranging from drug abuse to infidelity in a marriage, but money issues still remain a taboo topic for a lot of people. Many parents are embarrassed by their past money mistakes and do not want to discuss these with their children.

Continue reading “Why You Need to Talk to Your Kids About Money”

How to Give the RIGHT Way

April 29, 2015

December is associated with giving gifts to loved ones, but often May and June are months where significant milestones like graduations and weddings occur. If you are making a gift of cash, there are a few questions you might want to ask yourself. How much is enough, how much is too much, and what’s the best way to give? Continue reading “How to Give the RIGHT Way”

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”

You Have Less Than a Week to Make These Tax Saving Moves

April 09, 2015

Have you filed your taxes yet? April 15th is largely known as tax day, the deadline for filing and paying our taxes for the previous year. But it’s also the deadline to make 2014 contributions to three types of accounts that can reduce your taxes now, later, or both: Continue reading “You Have Less Than a Week to Make These Tax Saving Moves”

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?”