When it comes to investing, we talk a lot about “asset allocation” but what about “asset location?” Are you investing in the right account(s) for your goal(s)? Let’s take a look at some common financial goals and which account(s) might be best for them: Emergency fund The key here is easy access to your money […]
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As the wife of a federal worker who actually got paid during the last shutdown, we developed a new appreciation for actually seeing a paycheck every two weeks. Unfortunately, this was not the case for a lot of my husbands’ friends and our neighbors. Since we live in the same area as a lot of […]
Are you living on earnings from commissions? You may be working for a firm, but in effect you’re working for yourself. Your income depends in large part on your actions, which is exactly what successful sales people and consultants like about it. The reality is, however, that the sales cycle, the economic cycle and your industry […]
There was a time when your credit score was your credit score. It was one number, and the higher it was, the better your life was (at least from a borrowing perspective). Lately, you have probably noticed there is more to credit scores these days than just your FICO® score. Now we have VantageScore and […]
This time of year, we often talk with people who are preparing to receive a bonus at work, either about how to make the most of it or how to best handle the taxes, or ideally, both! Depending on your line of work, earning a bonus may come along often or only rarely, but regardless, […]
Editor’s note: As we launch 2019, I’ve asked each of our bloggers to reflect on their own personal goals, plans or thoughts on the past or upcoming year. Our hope is that you not only draw inspiration from our sharing over the coming weeks, but also that we are all able to feel more connected […]
It’s been a rough ride lately in the U.S. markets. As I write this, the S&P 500 index fell about 5.8 percent during a short trading week, leaving investors feeling jittery. Part of the yield curve inverted, which means that short term interest rates are higher than some longer term interest rates. Is the powerful bull […]
Do you ever find yourself wondering what you should be doing to manage your finances? What’s the right next step? What should you focus on first? Well, you’re not alone. This is a regular conversation I have with people. To help, I’ve created this step-by-step guide to help you get things in order and see […]
It’s safe to say that you will start to hear a lot of talk about New Year’s resolutions over the course of the next few weeks. Since money and wealth are integrated into many aspects of the life journey, it isn’t too surprising that financial resolutions are generally near the top of those well-intentioned “to […]
With interest rates on the rise, many first time home-buyers are looking to purchase a home before mortgage rates go any higher. If you’ve never purchased a home before, the process can be confusing and even a bit scary. When a family member recently asked me for some tips, here’s what I told him: 1) […]
Do you sometimes know what to do with your money but still don’t take action on that knowledge? A recent financial coaching discussion reinforced the influence of the “knowing – doing” gap. It also helped illustrate how the gap between our financial knowledge and actual money-related behaviors can sidetrack progress towards important life goals. The […]
One of the most interesting things I’ve learned from having the opportunity to discuss money with people from all walks of life is how much of an effect that our deep-seated money beliefs have on our financial outcomes. One of these beliefs is how we perceive whether or not we need to buy something – […]
A common question I receive is where to put savings for short-term goals like an emergency fund or the down payment on a home you’re planning to purchase in the next few years. First, you probably don’t want to put it in anything risky like stocks, real estate, commodities, cryptocurrency, or even many types of […]
The more people I meet, the more I realize that so many of us are suffering in silence from things like severe anxiety, depression, and other mental health or stability challenges. I’m always grateful when people open up to me about what they experience and how it’s impacting their ability to function and give what […]
One of the things I most often hear from people about personal finance is how much they wish they had learned about it when they were younger. In talking to younger people, I do see a lot of awareness about the importance of financial wellness. Unfortunately, there are also a lot of myths and generalities […]
One of the joys of working in my role is how many people I speak with who are wonderful, good-hearted people. They love giving back, whether it’s money they give to charities, religious organizations, or even family and friends. Sometimes I talk to people who volunteer so much to help a cause that it’s like […]
When it comes to saving for college costs, you probably think of 529 savings plans and Coverdell Education Savings Accounts (ESAs). After all, the earnings in these accounts can grow to be tax-free if used for qualified education expenses and you may receive a deduction on your state income taxes, if you qualify. However, they […]
Feeling less than happy with your finances these days? If you are like me, it’s not enough to know that you feel bad about your financial choices. I also want to know why I made those dumb money decisions in the first place. Getting out of your own head Some psychologists suggest that our critical […]
With mortgage rates and home prices on the rise, many people are scrambling to buy a home before homes become even less affordable than they already are. If you don’t own a home, should you jump on the home buying bandwagon? Here are some questions to ask yourself first: How long will you keep the […]
As we celebrate our Nation’s Independence, I find myself reflecting on the notion of financial independence. I want to share some of my personal journey to financial independence, not to define financial independence, but to share my personal feelings on what it means to me. A journey, not a destination Several years ago, I found […]