It’s open enrollment time…that time of the year when you get this huge booklet or email of benefits and have to wade through all of the papers and links to figure out what to do while planning for the holidays at the same time. Remember to take time to really think about how you used your benefits last year so you can make the best decision. Here are a few things to consider: Continue reading “Are You Ready For Open Enrollment?”
Did you know that this week is the Financial Planning Association’s® 14th annual “Financial Planning Week?” The purpose of the week is to raise awareness of the financial planning process and to enable individuals and families to make prudent financial decisions. You can visit FinancialPlanningDays.org to see if a one-on-one financial planning advice event or educational workshops is being offered in your area. In the spirit of smart financial decision making, here are 10 ways to celebrate Financial Planning Week along with some of our thoughts on how finesse your personal finances: Continue reading “10 Ways To Celebrate Financial Planning Week”
As newlyweds, my husband and I are just getting started on our money journey. To get and stay on the same page, we have a bi-weekly money meeting where we dig into our finances, which saves us from money fights and also keeps us accountable to completing tasks needed to get us to our goals. One thing we’re working on is creating our family financial plan to make sure we are fully aligned on money going forward, using these 8 steps. Even if you’re not a newlywed, you can follow these steps to get a plan in place for your family. Continue reading “The 8 Step DIY Financial Plan for Newlyweds”
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”
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”
On a recent trip to Los Angeles, I was the passenger in a van that was traveling down the 405 late at night. Now if you are at all familiar with LA traffic then you probably can understand that most of the road construction the California DOT does in the LA area is done well…late at night. On this particular occasion, they were doing work on the left shoulder, which is coincidentally next to the car pool lane—the lane in which we were traveling (at a pretty good pace, I might add). Continue reading “Lessons From the 405”
A new buzz word in the financial service industry is “holistic wealth management.” This is an approach to managing wealth that looks at all of the areas of someone’s finances – not only their investments but taxes, insurance and even legal needs. One of the areas I feel gets the least attention is an approach to passing on the legacy of wisdom from one generation to the next. Continue reading “The WWII Generation Has More to Pass On Than Just Assets”
It always amazes me how people overlook their employee benefits and will pay out-of-pocket for what they can in some cases, get for free. Years ago, I worked with a couple in which the wife was diagnosed with breast cancer about 5 years ago but thankfully, is in remission. They were trying to get their estate plan in order and had hired their friend’s attorney to help them. Several thousand dollars later, they wondered if they made the right choice. Since I am not an attorney, I would never give legal advice, but I had to admit to them that considering the simplicity of their estate and wishes, they had an amazingly complex plan. Continue reading “Your Best Financial Services Provider Might Be Your Employer”
Family gatherings are a great time to catch up on the latest happenings of family. I love seeing how much taller my nieces and nephews have grown. I especially love watching the new parents, with a look that is a combination of wonder and terror mixed with love as they look at their newborn babies. Continue reading “Making the Most of Family Gatherings”
On a recent flight from Charlotte to Los Angeles, I sat next to a gentleman who has had quite a rough year. Without going into a lot of detail, he spoke with me about the recent passing of his father. For many, the thought of losing a parent would be rather hard, but for my traveling companion, he spoke of his father’s passing as somewhat of a relief. You see, his father began to suffer from cognitive impairment earlier in the year so much that he was eventually confined to a nursing home. His health deteriorated quite rapidly, and he was only in the nursing home for about three months when he passed. Continue reading “Lessons From a Five-Hour Flight”
“For last year’s words belong to last year’s language, and next year’s words await another voice, and to make an end is to make a beginning.” T.S. Eliot fans may recognize this poem, entitled Little Gidding, that focuses on the unity of the past, present, and future. Although not a well-known poet like Eliot, I’ve been writing my weekly blog posts for the past 4 years. Continue reading “Making a New Beginning”
Yeah, I know what you’re probably thinking. This is not the most exciting topic to think about and other areas of the financial life planning process such as money management, paying off debt, and investing for retirement tend to get more of our attention. Still, it’s worth a quick review on why life insurance is necessary and who should buy it. In fact, this part of the discussion should come before getting to specific amounts that you should own. Continue reading “Do You Have The Right Life Insurance Coverage?”
Last week, a colleague of mine lost her best friend to cancer. She was one of those people whose presence made you feel at peace. She also was great at planning for the future. Continue reading “When Planning Really Matters”
I read this astonishing article today titled “3 reasons to ditch your IRA.” The author makes the case against contributing to traditional IRAs but all his arguments could be used against traditional pre-tax 401(k) plans as well. Before you cancel your pre-tax retirement account contributions, let’s take a look at his arguments and why they might be problematic: Continue reading “3 Reasons Not to Ditch Your IRA”
Recently I was talking with one of my coworkers and I said the following about something at work “It’s like flossing…I know I need to do it, and I do, but I try to find ways to postpone it as long as possible!” He thought it sounded like a blog topic about the financial lives of so many people, so here we are! What are some things that we KNOW we need to do financially, but they are so “not fun” that we either don’t do them or we keep putting them off indefinitely? Continue reading “Do You Need Some Financial Flossing?”
It seems like every fall I try to take some time to enjoy a few minutes of solitude and reflect on the experiences of the current year. This is also a time where I usually acknowledge that the to-do list that I created earlier in the year still reveals some unfinished business. As a financial planner, I’ll admit that this includes some things on my family’s financial planning checklist that still need some attention. Continue reading “Why Wait Until Next Year to Plan Your Future?”
I talk with a lot of people who have absolutely nothing done in their estate planning efforts.No will, no medical directives, nothing. So, I spend a lot of time talking about what would make up the standard “Estate Planning 101” package that they could have an attorney draft. The basic documents that nearly everyone should have in place are a will, powers of attorney for financial and medical decisions, and advance medical directives. With these basic documents in place, most people could check “estate planning” off of their to do list. But, to dig a layer deeper, what are some things that you can do after you’ve signed your basic documents, never to look at them again? Continue reading “Estate Planning After Your Will is Drafted”
If you’re like me, you were shocked and horrified when you found out about Robin Williams’ death. I can’t tell you how many interviews I listened to and movie clips I watched of him in the days after the horrible news. Buried in all that media coverage, I also saw this article pointing out that unlike so many other celebrities with untimely ends, at least Williams spared his family additional stress and grief by taking care of his estate planning with a revocable trust. Continue reading “Lessons From a Tragedy”
As a husband and father of four children, it is important to me to make sure my family is taken care of in the event of an emergency. I have done a few things such as create an emergency fund, draft a will, and purchase life insurance, but there are a number of things I still have left to do. One of the more important items I still have left on my to-do list is an advance health care directive. Continue reading “Do You Have An Advance Directive?”
Since the time I was a kid (and my kids would tell you that’s a LONG time ago…), I’ve seen movies with Mickey Rooney on the screen. He was probably one of the most recognizable men in America for a long period of time. He was a major Hollywood star. And he was always working. Continue reading “Seriously, Mickey Rooney???”
