What Your Financial Planner Needs to Know About You

December 06, 2012

One of the questions I commonly get from people is about what information to bring to a financial planning consultation.  In my own meetings with employees, some people come with spreadsheets or even thick binders of information while many bring nothing at all. In both cases, they often have no idea what information is relevant and useful in making financial decisions. Whether you work with a planner or manage everything on your own, here is some information that you’ll want to have at your fingertips: Continue reading “What Your Financial Planner Needs to Know About You”

Warning: Getting a Second Opinion on a Financial Advisor May Have Saved This Woman’s Retirement

August 20, 2012

“Interview at least three financial advisors in your area and then call me back for a second opinion on your top choices.”  That was the guidance I gave to a woman who called our financial helpline. She is retiring in about six months and wants to have a relationship with a local financial advisor when she retires.  We discussed what she was looking for, how to find someone, and what questions to ask, and I sent her a follow up resources that had the list of questions.  We talked about choosing someone who has made a commitment to their industry by earning a CFP® or ChFC® designation or a masters degree in financial planning.  After giving her some links on how to search for a planner (click here) and some questions to ask (click here for the resource), she set out to find one. Continue reading “Warning: Getting a Second Opinion on a Financial Advisor May Have Saved This Woman’s Retirement”

Usain Bolt Won Olympic Gold Because Someone Was Chasing Him – Who is Chasing You to Meet Your Goals?

August 13, 2012

If you saw the Olympic 100 meter sprint final in men’s track, the “world’s fastest man” race, you saw two Jamaican runners cross the finish line one right after the other.  When I watched from my TV at home, I saw their bodies holding steady and their feet in a blur like the roadrunner cartoon.  They were running so fast, my eyes couldn’t keep up with the pace and those neon yellow green tennis shoes just looked like big glowing circles to me.  Usain Bolt defended his title in the race with 9.63 seconds and won gold but he was followed closely by his team mate Yohan Blake at 9.75 seconds said, “When you are sleeping, I’m working. I’m toiling through the night.” Continue reading “Usain Bolt Won Olympic Gold Because Someone Was Chasing Him – Who is Chasing You to Meet Your Goals?”

Should (and Would) Employees Pay for One-on-One Financial Guidance in the Workplace?

June 26, 2012

As financial wellness becomes more of a common component to workplace wellness programs, many smaller employers are considering the cost sharing aspect of bringing financial guidance to their employees.  With tight budgets, some CEOs view the ability to meet with a financial planner during working hours as a perk that employees should be happy to pay for.  But are they willing? Continue reading “Should (and Would) Employees Pay for One-on-One Financial Guidance in the Workplace?”

Helping Employees Cope with Medical Bills

January 10, 2012

Flying home last week from the wintry northwest, I heard lots of sneezing and sniffles from my fellow travelers.  Although we’ve been lucky to have such a mild winter so far, cold January weather usually brings with it the onslaught of cold and flu season.  In a typical year, 5 to 20% of the population in the U.S. will get the flu, according to www.flufacts.com , and some of your employees may end up with flu complications that may require a trip to the doctor or even hospitalization. Continue reading “Helping Employees Cope with Medical Bills”

GUEST BLOG POST: The Course to Financial Success: A Marathon, Not a Sprint

November 09, 2011

On Sunday, October 30th, I ran the Marine Corps Marathon in Washington, DC.

Call it a “runner’s high,” or chalk it up to trying to distract myself from my painful feet, but I spent much of those five-plus hours in deep philosophical thought.  I thought about the courage of our military, as I studied the faces and dates of too-short lives emblazoned on the backs of so many runners.  I thought about the dedication of the spectators, who not only waited for several chilly hours to catch a 10-second view of their runner, but also propelled 19,999 other runners to the finish with their motivating and humorous signs.  My favorite:  “26.2 miles?  Because 26.3 would just be crazy!!” Continue reading “GUEST BLOG POST: The Course to Financial Success: A Marathon, Not a Sprint”

Should I Manage My Investment Account or Use a Financial Advisor?

June 02, 2011

If I had a dime for every time I heard this question – I would have a lot of dimes! This is actually one of those questions I feel shows that an investor has entered the introspective phase of their investing life. The good news here is that the sooner you can answer this question, the quicker you can get on with the business of putting your money to work for you! Continue reading “Should I Manage My Investment Account or Use a Financial Advisor?”

Cash Management: Saving Money Without Sacrifice

May 30, 2011

Over the years, I have unknowingly wasted thousands of dollars at the grocery store and the pharmacy. If I knew then what I know now, I could have saved AT LEAST $1200 per year by using coupons. If you add that up over 25 years that I’ve been a financial planner, it makes me cringe. Those lost dollars will never come back; they are lost forever but I am just glad that I know now and certainly don’ t want anyone else making the same mistake. As a financial planner, I’ve always paid attention to the big things in my financial life—my training gave me a keen focus on making sure I had low fees and low interest rates on loans such as my mortgage and auto, managing my 401k for the optimal risk/return ratio, and to make sure my family was protected should something happen to me. I felt like carrying around a 50 cent coupon for a laundry detergent was a waste of time. Continue reading “Cash Management: Saving Money Without Sacrifice”

With Football and Financial Advisors: Loyalty is Everything

February 18, 2011

A few weeks ago I had a conversation with my girlfriend about the concept of loyalty.  To products and services.  And football teams.  I guess I should add some background information here.  I have been a lifelong football fan and she is just learning about the game over the last few years and frequently asks awfully insightful questions.  One of her recent questions was about what happens when a player from another team that you don’t like comes to play for the team you do like.  For full disclosure, I grew up in the Baltimore area and I’m a Baltimore Ravens fan (and I really don’t like the Pittsburgh Steelers and Indianapolis Colts).  My answer was that most fans root for their team regardless of the players on it.  We essentially root for laundry.

[YouTube video: Seinfeld] Continue reading “With Football and Financial Advisors: Loyalty is Everything”