5 Steps to Organize Your Finances

June 09, 2013

Now that spring is officially coming to an end and you’ve cleaned your closets, organized your belongings, and gotten rid of all the junk, it’s time to spring clean your finances. With just a little research and hard work, you can reduce your money-related stress and, if you do it right, save significant money in the process. To get started clearing out your financial clutter, check out the following five tips: Continue reading “5 Steps to Organize Your Finances”

The Top 5 Things to Teach Kids About Money

May 27, 2013

Happy Memorial Day! If you have young kids, this unofficial start of summer is a great opportunity to start thinking about how you can use some of their time away from school for another form of education: how to make smart financial decisions that can benefit them for the rest of their lives. After all,  the first money lessons your child gets will likely come from you and can have a major impact on their ability to avoid major financial problems later in life. In particular, these five basic concepts should be incorporated into your child’s education about responsible money management: Continue reading “The Top 5 Things to Teach Kids About Money”

Is Your Credit Score Hurting Your Job Prospects?

May 17, 2013

One of my friends sent me this article about credit scores impacting a job search to ask my opinion. And, he confided in me that this is probably a part of the reason that his wife has been unable to find work for nearly two years and has just about given up on her quest to find another job. This is a very troubling trend in the workplace and all too often good people are being denied the opportunity to work in this dreadful economy that just hasn’t produced robust job growth.     Continue reading “Is Your Credit Score Hurting Your Job Prospects?”

10 Financial Lessons From the Celebrity Apprentice

May 16, 2013

While I don’t generally watch tv or even own one, I have to admit that I’m a huge fan of one particular show: The Apprentice, which is currently on the verge of the finale of its All-Star Celebrity Season. While the show has its share of mindless reality tv entertainment, there are lessons that can be derived from it, not just for the business world that the show is based on (albeit loosely) but for our own personal financial lives as well. Here are some financial lessons from this season’s celebrity firings: Continue reading “10 Financial Lessons From the Celebrity Apprentice”

Is Your Financial Plan on Track?

April 15, 2013

Are you making progress in your financial life or are you simply trying to keep the train on the tracks when it comes to managing your personal finances? We track the financial well-being of employees in the workplace on a quarterly basis and it is obvious that not everyone out there feels that their financial life is on track. In our 2012 Year in Review research report, retirement preparedness remains a significant concern with only 17% of employees knowing their on target to reach their retirement income goals. Financial stress also remains a potential problem with 82% of the employees participating in the workplace Financial Wellness Assessment reporting some degree of financial stress.  Continue reading “Is Your Financial Plan on Track?”

Why I Love What I Do

April 05, 2013

We usually discuss what to do with your money but not how you earned most of it in the first place. Without trying to sound too much like I’m sucking up to my boss…I’m one of the few people I know who really love what they do for a living. I’ve met a lot of people who hate their jobs but “have to” stay for financial reasons, benefits, or something else.  I’ve met people who like their jobs but aren’t all that enthusiastic about it. And, occasionally I’ll meet someone who feels like they are doing what they were put on Earth to do.  When that happens, I feel like I’ve met a kindred spirit.  Why do I enjoy what I do so much? Continue reading “Why I Love What I Do”

Ways to Avoid Financial Foolishness on April 1st (and Beyond)

April 01, 2013

Happy April Fool’s Day! Today marks my very first day as a regular contributor to the Monday blog spot for Financial Finesse. When I was first informed of this new role, I thought it may have been some kind of April Fool’s Day prank. Now I know that it wasn’t a practical joke (and hopefully you don’t find my financial tips and guidance comical either) and I look forward to the opportunity to share some of my thoughts and experiences as a financial planner and educator. Continue reading “Ways to Avoid Financial Foolishness on April 1st (and Beyond)”

Another Celebrity Bankruptcy…

March 29, 2013

Here we go again!  Yet another celebrity has filed for bankruptcy.  Dionne Warwick owes over $10 million in accrued penalties and interest from back taxes along with other debts and this combination of debts drove her to insolvency. (Couldn’t her psychic have warned her about this???)  She has an income of $21,000 per MONTH and expenses to match plus, lots of debt on top of that! Hey, with that kind of financial track record we should send her to DC as a member of Congress. If it sounds like I’m a bit less than sympathetic here, it might be because my initial reaction is one of frustration.  Here’s why: Continue reading “Another Celebrity Bankruptcy…”

A Financial Yardstick for Everyone

March 27, 2013

One thing I’ve come to learn after being on the financial helpline for 6.5 years is that some employees simply want to know how they are doing relative to everyone else.  No matter how I try to encourage them to consider themselves and their circumstances unique, human nature drives us to want to know if we are ahead, behind, or in line with our peers.  We crave some type of yardstick to know if we are measuring up.  Continue reading “A Financial Yardstick for Everyone”

A Phishing Trip No One Wants to Take

March 20, 2013

I received a rather interesting email from my mom this weekend. There were no words, just a hyperlink to a website promoting a weight-loss supplement called Raspberry Ultra Drops.  Either my mom was trying to tell me something or her email had been compromised–again.  Since there were no words in the email, which is very odd for her, and the hyperlink consisted of random nonsensical characters, I suspected the latter.  As you can see from this fraud alert, http://www.onlinethreatalerts.com/article/2013/1/9/raspberry-ultra-drops-to-help-your-weight-drop-spam-email-and-fake-websites/, I was right. Continue reading “A Phishing Trip No One Wants to Take”

The Secret to Creating Wealth From Your Paycheck

March 18, 2013

Robots have replaced many jobs that people used to do.  Luckily, they haven’t replaced all of them but there is something to be said for programming a robot to do a job.  They just do what they are told. They don’t have to make decisions.  We can actually learn something from our plastic and steel computerized robot friends about wealth building.  Take the human component of decision making out of the equation to have more cash and more income in retirement. Continue reading “The Secret to Creating Wealth From Your Paycheck”

How to Get Out of the Divorce Sinkhole

March 15, 2013

Having spent many afternoons on a golf course and being of very limited ability in that sport, I have had had my ball land in some very interesting places.  None of them would be as interesting, though, as the golfer in this story.  His ball, along with his body, ended up in an 18-foot deep sinkhole. And, he got a separated shoulder in the fall.  I’ve had bad days on the golf course, but never THAT bad!  The good news is that he was pulled from the hole and his shoulder will heal very quickly! Continue reading “How to Get Out of the Divorce Sinkhole”

What We Can Learn From 2012

March 13, 2013

Last week we released our 2012 Year in Review research, and there were several troubling statistics that came out of the report.  For starters, only 51% of employees reported having an emergency fund, which means there are 49% that are vulnerable to a financial setback should some unexpected expense come along.  Another troubling statistic was an increase in the percentage of employees that reported taking money out of their 401(k) as either a loan or hardship withdrawal.  Such early distributions can greatly impact if and when these employees will be able to retire.  As a result of sending out our research, we received the following three questions from a reporter: Continue reading “What We Can Learn From 2012”

Why It’s No Shocker When Athletes Go Broke

March 08, 2013

As a sports fan, I see a lot of sports–related items in the news, on Facebook, on my Twitter feed…all over the place.  Not too long ago, ESPN aired a special called “Broke” about athletes that earned tens of millions of dollars during their careers who are now completely broke.  A lot of people have expressed a bit of shock and disbelief that someone who earns $10,000,000 or more in a short career can have nothing left just a few short years after their playing days are over. Continue reading “Why It’s No Shocker When Athletes Go Broke”

Roseanne Rosanna D’Anna, Sequestration and You

March 01, 2013

I grew up watching Saturday Night Live, back when it was ridiculously entertaining.  I know it’s in a good cycle again now, but the old shows are still funny now.  When you can laugh 20-30 years after something was created, you know it’s good.  Lucille Ball and the chocolate candy on the assembly line will be funny 100 years from now!  That’s quality entertainment…  Continue reading “Roseanne Rosanna D’Anna, Sequestration and You”

Don’t Wait For Next Year’s Tax Refund

February 13, 2013

For the next several months, U.S. taxpayers will begin filing their 2012 tax return, and that means many will be getting a tax refund.  In his article titled A Tax Refund Isn’t Always Something To Feel Guilty About, Associated Press personal finance writer Dave Carpenter states, “About 75 percent of individual taxpayers get a refund every year and the average amount is about $3,000.”  Some taxpayers like the idea of a tax refund because they see it as a simple, forced way to save, often treating it as “found” money they use to pay off debt, go on vacation, or fund some other financial goal.  Others, like me, see it as an unnecessary way of giving the IRS an interest-free loan.  Regardless of which camp you fall into, you may be able to control the size of your tax refund by adjusting the number of allowances you claim on your W-4. Continue reading “Don’t Wait For Next Year’s Tax Refund”

A Valentine’s Day Investment

February 11, 2013

Valentine’s Day is coming up this week and for many instead of feeling excited about a romantic evening, they feel pressure!  Feeling trepidations about a highly publicized day of romance is definitely understandable.  But on the other hand, Valentine’s Day is an opportunity for couples to strengthen their relationship. That in and of itself is valuable but from a financial planner’s point of view, it’s also an investment. Continue reading “A Valentine’s Day Investment”