How to Recover From a Credit Disaster

November 21, 2014

During one of my recent conversations with an employee, he was very disturbed by how much a bad credit score has impacted his life.He said that his credit score has caused his car insurance premiums to increase, he thinks it is hindering his job search (he may have a point because it is something that employers consider) and his girlfriend does not want to become his fiancée or wife until he shows significant progress in this area. So, he was very happy to have some ideas on how to make progress on repairing what was a very broken part of his financial life. Continue reading “How to Recover From a Credit Disaster”

Lessons From a Veteran to Today’s Soldiers

November 11, 2014

If someone were to ask me what I am the most proud of, next to my husband and daughter, I would say that I am the most proud of serving in the military. The military is where I developed a strong work ethic. I also learned to think of others before myself and I learned to lead even though I may not have had all of the answers. I enjoyed every crazy moment in the military (well, if I am honest, the port-a-potties were not fun, yuck!) and I grew close to many of the servicemen. Continue reading “Lessons From a Veteran to Today’s Soldiers”

How to Thank and Help Our Future Veterans

November 04, 2014

With Veteran’s Day around the corner, we stop to thank those, past and present, who have served our nation and protected our freedoms. We all know that they volunteer to spend time away from home and family and risk their lives to keep us safe. The tragic stories of service members suffering from PTSD and life altering injuries tear at our hearts. What no one talks about is the financial hardships that many of our service members face. Continue reading “How to Thank and Help Our Future Veterans”

Are You Afraid of Your Student Loan Debt?

October 30, 2014

What’s really scaring you this Halloween? If you have student loans, getting that bill might rank pretty high on the list. After all, no one likes owing tens or even hundreds of thousands of dollars that will seemingly take forever to pay off. That doesn’t mean paying off your student loans should be your only or even top financial priority though. Here are some other goals that you might want to prioritize first. Continue reading “Are You Afraid of Your Student Loan Debt?”

How to Manage Student Loan Debt in Retirement

October 14, 2014

You’ve worked hard both in the professional world and at home raising your family and retirement is just around the corner. Now it is your turn to relax – somewhat — and do the things you love and want to do. But what if you haven’t finished paying off your student loan debt? Continue reading “How to Manage Student Loan Debt in Retirement”

What I Am Teaching My Kids About Money

October 13, 2014

As you may know from following this blog, I have just completed my dissertation and other requirements to earn my Ph.D in Personal Financial Planning from Kansas State University so we now have two proud Wildcat alums on staff here. (Doug Spencer is the other. He personifies loyalty to one’s alma mater and has plenty of purple shirts in his wardrobe to prove it.) Continue reading “What I Am Teaching My Kids About Money”

A Comeback Story

October 10, 2014

America loves an underdog. I see it in sports all the time, and there are countless movies that end with the little guy triumphing over the big bad guy.As a society, we love to see someone prevailing against the odds. I saw this article about companies that were left for dead but rebounded to find success again and it reminded me of how much we love a comeback tale in particular. Continue reading “A Comeback Story”

iMistake?

October 03, 2014

I read this article about Apple selling 10 Million iPhone 6’s on the first week of sales and it made me think about the number of people I see in coaching sessions who have the newest version of cool technology. Having the latest iPhone or Galaxy or iPad or whatever the technology might be is seen as being on the leading edge. There’s a bit of a “cool factor” involved. Continue reading “iMistake?”

How Our History Can Help Us Shape Our Future

September 19, 2014

200 years ago, Francis Scott Key wrote the Star Spangled Banner in the Baltimore harbor near Fort McHenry.As a Baltimore guy, this past weekend was glorious. There were thousands of people celebrating the bicentennial of the Star Spangled Banner in the Baltimore area, tall ships from all over the world were in the harbor, the Blue Angels were doing aerial shows, there were fireworks and the Orioles were beating the Yankees in an important series. (That has no bearing on the bicentennial, but it makes being in Baltimore a lot more fun.) It was a great weekend to look back at our country’s history and reflect upon where we’ve been as a country and where we’re headed. Continue reading “How Our History Can Help Us Shape Our Future”

Do You LUV Your Brand?

September 12, 2014

As someone who travels a lot for work, news from airlines always gets my attention. Southwest Airlines is doing an overhaul of their logo, their paint jobs on planes, their snack bags…virtually everything associated with their brand. We see the same images and messages all the time and after a while we stop noticing. I always think of Charlie Brown’s teacher when I hear a friend of mine threaten her kids with some form of punishment (which never happens, they still get ice cream after failing to listen to anything she says). The same “you’re going to bed early” or “no technology if you don’t do X” or some similar thing is held out as a consequence, yet there are never consequences. In order for her kids to take her seriously or for companies to get us to pay attention again, sometimes a change is required. Southwest is doing exactly that with their makeover of their logo and branding efforts. Continue reading “Do You LUV Your Brand?”

Student Loan Debt? There’s an App For That

September 08, 2014

Student loans may be viewed as a form of “good debt” because of the many doors a college education can potentially open throughout our lifetime.Still, paying off student loans can become a major headache (especially if you are trying to balance other competing financial priorities like paying off credit card debt or saving for emergencies). Total student loan debt in this country now exceeds $1 trillion and 7 out of every 10 college students graduate with student loan obligations. Continue reading “Student Loan Debt? There’s an App For That”

Worst Thing Ever

August 22, 2014

Occasionally, I’ll be in a conversation with a group of people and will throw out a random phrase and everyone has to give a quick response to it. Recently, the phrase I threw out to the group at happy hour was “Worst Thing Ever.” One of my friends, without hesitation, blurted out “New York Yankees fans!” As the group was made up of lifelong Baltimore Orioles fans, we all agreed that Yankees fans can be obnoxious but they aren’t the worst thing ever…close, but not quite. Continue reading “Worst Thing Ever”

Should You Buy Life Insurance as an Investment?

August 21, 2014

In response to this article we published on Forbes, we received this question on our Facebook page:

I recently read your article “Should You Use Life Insurance as an Investment?” on Forbes. I wanted to know how this article would apply to me. I just graduated and started my first job that pays pretty well. I don’t have any dependents so I didn’t think about life insurance until I meet with a financial advisor. He said starting insurance young is a better investment where I could keep safe dollars and be more risky in other parts. Would I be better off buying insurance now and benefiting from compound interest or use that money in other investments? Thanks! Continue reading “Should You Buy Life Insurance as an Investment?”

Student Loan Debt a Major Threat

August 15, 2014

I read this article about student loan debt resulting in a portion of a man’s Social Security income being garnished. In the article, not only is the garnishment discussed but also discussed is the growing trend of older Americans still having outstanding student loan debt. If that debt is not repaid prior to retirement, Social Security payments may be impacted and the retirement lifestyle that you’re expecting may come up short. It reminded me of a couple of situations I’ve encountered in coaching sessions recently where student loan debt became a central part of the conversation. Continue reading “Student Loan Debt a Major Threat”

8 Steps to Improve Your Credit Score

July 17, 2014

Have you had a rough patch in your financial life? Or maybe you’re trying to position yourself to get the lowest possible rate on a mortgage or even a new job. For whatever reason, you may be like one of the many people I speak to on our Financial Helpline and Ask a Planner sessions who are trying to improve their credit. If so, here are some steps you can take: Continue reading “8 Steps to Improve Your Credit Score”

Here’s a $2 Million Jackpot Worth Playing For

July 08, 2014

Would you like the thrill of gambling without the out-of-pocket cost? Now you can combine the good habits of saving and paying down debt with the ability to win entries to prizes from SaveUp.com ranging from gift cards to the chance of winning the $2 million jackpot. I learned about this prize-linked savings incentive by reading an article in the July issue of Kiplinger’s and signed up a few weeks ago to check it out. So far, the only thing I have won is a 1 year subscription to Prevention Magazine, but it is fun and motivating to earn credits to play online card games to win prizes like a $5,000 savings deposit or your bills paid for a year. Credits can also be used towards entries to the $2 million drawing, called the SaveUp Super Jackpot. (Pick 6 numbers and the next jackpot numbers will be announced on August 1.) Continue reading “Here’s a $2 Million Jackpot Worth Playing For”

Should You Borrow From Your 401(K)?

July 03, 2014

Have you ever borrowed or thought about borrowing from your 401(k)? According to this recent study, almost half of those who took out a loan from their retirement plan later said they regretted the decision. So when does it make sense? Here are 3 situations: Continue reading “Should You Borrow From Your 401(K)?”

When is Borrowing From Your 401(k) a Good Idea?

June 20, 2014

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?”

Should I Keep My Emergency Funds in a Roth IRA?

June 09, 2014

In last week’s blog post, we examined the flexibility of Roth IRAs. Perhaps the most appealing feature of Roth IRA accounts is the tax-free growth of earnings. If you expect to be at the same or a higher tax bracket, the Roth IRA is definitely worth considering based on the prospects of future tax savings. Even if you don’t have a strong opinion as to where your future income tax bracket will be when you need access to your funds, it may prove beneficial to have this added feature of tax diversification. Continue reading “Should I Keep My Emergency Funds in a Roth IRA?”