What Happens Now If You Cannot Afford Health Insurance?

November 18, 2013

Most of the employees that I work with are in a fortunate position to work for large companies that provide health insurance to their employees.  But many of the people that I talk with have friends and extended family members that are not covered by an employer-provided plan.  One area of confusion these days is what happens when you cannot afford health insurance.  Unfortunately, the answer to that question is a little complicated and it depends on a few important factors. Continue reading “What Happens Now If You Cannot Afford Health Insurance?”

Millennials’ Retirement: Create a Sense of Urgency Today

November 11, 2013

Back in October, I took a fun little road trip with my dad and my son to Atlanta to see some postseason baseball action.  I love baseball and have been a Braves fan since childhood, enduring many peaks and valleys.  Although I try to see at least a couple of games in person each year, this game was special since it was the first playoff game my father and my 4-year old son had ever seen.  (My father had also overcome some serious health issues over the past year so it was a blast doing the tomahawk chop together and trying to catch batting practice home runs.)  Continue reading “Millennials’ Retirement: Create a Sense of Urgency Today”

Hey Mr. Planner, What’s in Your Bag?

November 04, 2013

I’ve always been fascinated by the game of golf or what Mark Twain referred to as “a good walk spoiled.” During childhood, I would spend hours at a time out in my yard creating my own imaginary course designs and pretending that I was at Augusta National competing for the coveted green jacket.  (My parents and neighbors were probably grateful that I was using plastic golf balls at the time as my errant shots often landed on cars and houses.)  Continue reading “Hey Mr. Planner, What’s in Your Bag?”

Is Optimism Helping or Hurting Your Financial Plan?

October 28, 2013

A couple of weeks ago,  I discussed the important role that our thoughts and beliefs can play when it comes to working toward important financial goals. While an optimistic outlook is associated with many positive outcomes related to our health and wealth, as with most things in life, moderation is the key when it comes to optimism related to our personal finances.  Here are some questions to help determine if your optimism is helping or hurting your personal finances: Continue reading “Is Optimism Helping or Hurting Your Financial Plan?”

Do You Have a Financial Plan or Financial Gridlock?

October 21, 2013

It is déjà vu all over again with the debt ceiling debate having reared its ugly head once again. In my opinion, when it comes to the financial stability of our nation, it doesn’t matter if you lean to the left, lean to the right or are somewhere in between with your political views (or if you are completely indifferent to political dialogue).  The reality is that something needs to get done to end the gridlock in Washington that impacts every American.  Continue reading “Do You Have a Financial Plan or Financial Gridlock?”

Is it Possible to Think your Way to Financial Success?

October 14, 2013

Think for a moment about how optimistic you are about your personal financial situation.  Are you confident that your financial life will improve over the next 12 months? Your response to these questions provides invaluable insight into your ability to achieve future financial success.  Continue reading “Is it Possible to Think your Way to Financial Success?”

The Life and Times of a Financial Educator

October 07, 2013

The week of October 7-13 marks the 12th annual Financial Planning Week that was designed by the Financial Planning Association to create awareness of the importance of having a personal financial plan.  In the spirit of promoting a profession that we love, the Resident Financial Planners at Financial Finesse will be writing about our experiences providing workplace financial education. Continue reading “The Life and Times of a Financial Educator”

How Much Will You Really Get From Social Security?

September 23, 2013

Will Social Security be around when we need it the most…and if so when should we take it and how will it be taxed? These days, those are some of the biggest retirement planning concerns among anyone that’s not currently retired. It’s no secret that Social Security is in need of some significant changes to strengthen the ability of future generations to receive Social Security benefits. The reality is that without any changes to the system only 75-80% of projected benefits would be able to be paid.  Continue reading “How Much Will You Really Get From Social Security?”

Are Money Beliefs Holding You Back?

September 16, 2013

A few weeks ago, I had the privilege of working with a young mother who had overcome countless obstacles to become the first college graduate in her entire family.  During our discussion, it was revealed that she was trying to overcome a seemingly insurmountable pile of debt created by student loans.  Her primary financial goal was to create a plan to stop living paycheck to paycheck and to start taking control of her financial future.  Continue reading “Are Money Beliefs Holding You Back?”

What’s SUP With Your Budget?

September 09, 2013

A few months ago, I wrote about my own retirement planning journey and a list of things that I plan to do along the way.  The ultimate purpose was to find some balance between living in the moment and planning for the future. I’ve made some progress over the past few months and thanks to a friend who lives on a tidal creek, I was able to check a long awaited paddle boarding trip off my list.   Continue reading “What’s SUP With Your Budget?”

Personal Finance Tools for Busy Parents

August 26, 2013

The dog days of summer are here and it’s back to school time for millions across America. To a certain degree, I actually enjoy the routine of the school schedule.  Like the changing of seasons, there is a sense of familiarity despite the unknowns of what may happen along the journey.  Continue reading “Personal Finance Tools for Busy Parents”

Introducing Our Newest Planner: Doug Spencer

August 19, 2013

When it comes to choosing a financial advisor to help get you closer to your financial goals, it’s important to ask some tough questions. We have a pretty rigorous hiring process here at Financial Finesse and only about 2% of potential candidates make it on board our team of unbiased financial educators. Recently, I had the chance to sit down with Doug Spencer, CFP®, one of the resident financial planners and a recent addition to the Think Tank at Financial Finesse.  I asked him a series of questions trying to pick his brain and find out more about how he became interested in joining a growing group of financial planning professionals who are committed to providing unbiased financial guidance to employees in the workforce. Here is a summary of our discussion with some important resources included for anyone seeking an unbiased perspective on how to take control of their financial future: Continue reading “Introducing Our Newest Planner: Doug Spencer”

Putting It All Into Perspective

August 12, 2013

The real purpose of the financial planning process is often lost when we focus on just the specific elements of a plan such as budgeting, eliminating debt, investing, minimizing taxes, and saving for retirement. Financial planning is more than these things. It’s actually the process of aligning our financial resources with our life goals, values, and vision for the future.  Continue reading “Putting It All Into Perspective”

Small Changes Can Have Big Consequences

August 05, 2013

Many financial planners (this writer included) have resorted to the cup of coffee example at least once during their careers. It usually starts with a simple question such as “how much does a cup of coffee cost these days?” The answers depend on individual tastes and how many fancy iterations of a coffee or latte people can come up with (typically $3 to $5). Continue reading “Small Changes Can Have Big Consequences”

Financial Tips for Recent College Graduates and Early Career Professionals

July 29, 2013

I recently joined a group of friends in a discussion about our first jobs and reminisced about those innocent days of youth (mostly innocent at least).  My first job tapped into my entrepreneurial spirit as I traveled yard to yard in my little corner of suburbia mowing lawns. The boss was a free-spirited adolescent and that venture provided zero benefits, but I did learn a lot about the importance of having a solid work ethic and it gave me hands on experience with managing and saving money. Continue reading “Financial Tips for Recent College Graduates and Early Career Professionals”

Create a Financial Life Plan with a Few Simple Questions

July 22, 2013

Prior to becoming a full time financial educator, some of the work that I did with my clients fell into the realm of what is often called financial life planning. Financial life planning gives money more meaning and purpose and helped my clients do more than just focus on typical financial goals such as deciding when to retire, where they plan on living, and how much the expected lifestyle will cost. Rather than simply focus on money and wealth, it helps people decide what is really important in their lives. Continue reading “Create a Financial Life Plan with a Few Simple Questions”

Will Social Security Be Around For Your Retirement?

July 15, 2013

A few weeks ago, I wrote about the importance of completing a mid-year financial checkup. One of the activities that I completed as part our family’s recent financial checkup was the activity of running a basic retirement planning calculator (yes I do occasionally try to actually follow my own advice).  I used both a basic retirement plan estimator and ESPLannerBASIC.  Continue reading “Will Social Security Be Around For Your Retirement?”

My Best and Worst Investment Decisions Ever

July 08, 2013

If you are considering working with a financial advisor, you need to ask some important questions when deciding if a professional is qualified to help you reach your financial life goals. Last year, I was asked a simple but powerful question that appeared in an interview for a Forbes.com article.  It was actually a two part question that was framed as things that everyone should ask their financial advisor.   Continue reading “My Best and Worst Investment Decisions Ever”

Reasons to Stay Away From a Roth IRA

July 01, 2013

Roth IRAs are not a secret anymore since they first became available in 1998 as a way to use after-tax money to save for retirement. The biggest benefit is that as long as the Roth IRA account has been open for 5 years and withdrawals take place after age 59 ½, you never have to pay taxes on the earnings (contributions are always accessible without taxes). Tax-free earnings growth has a lot of appeal for younger generations and people not in their peak earning years who expect to be in a higher tax bracket during retirement. Continue reading “Reasons to Stay Away From a Roth IRA”

Is It Time For Your Mid-Year Financial Check Up?

June 24, 2013

Summertime is officially here and things around my house are just as hectic as ever.  With all of the upcoming events my kids have on the schedule like summer camps, swim lessons, dance lessons, soccer camps, reading lists, vacations, and staycations, we have to do a serious balancing act as parents.  (When I say “we,” I actually mean my wife, Heather, because I admit that she is the master organizer in our household.)  Continue reading “Is It Time For Your Mid-Year Financial Check Up?”