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Learn from the Ghosts of your Financial Past, Present and Future

Making good choices about saving and spending can be difficult, especially when you’re young and relatively inexperienced with finances. Research shows that costs such as housing and student debt can greatly hinder a person’s ability to save adequately for their future. But not all is lost. As the holidays approach, we are reminded of Charles Dickens’ classic novel, “A Christmas Carol,” in which the ghosts of Christmas past, present and future help Ebenezer Scrooge embrace the joy of helping his fellow man after decades of mean-spirited behavior. Similarly, by taking a look at your past money mistakes and…


Stressing About Retirement? Tips to Help

Your golden years should be stress-free and exciting. However, as financial advisors, we know how stressful it can be to decide when to retire and how to make sure your finances are ready. To help avoid retirement stressors, start planning now. As retirement approaches, create transition plan three to five years in advance of the actual date you will stop working.

Seeking the counsel of a professional wealth advisor can help plan in the most efficient way possible. There are multiple factors that go into proper retirement planning, such as:

  • increasing savings or reducing debt
  • planning…

How to Ride the Market Volatility Wave

In recent months, investors have seen a roller coaster of activity in the equity markets. Such volatility may be even harder to swallow after experiencing a banner year in 2017, but it’s critical, in a period of volatility, not to overreact.

As a financial advisor, it’s my job to coach clients on what to do, or not do, and quite frankly, how to react to stock market direction. Recent headlines may be causing some concern, but below is my advice for what NOT to do right now:

Never make decisions based on emotions, panic or fear. We’re often told to not…


Has Gen X Been Abandoned? Getting This Generation on Financial Track

Millennials and baby boomers dominate headlines. As the two largest generations in history, it’s no wonder these demographics have taken center stage for financial advice. There is no shortage of articles offering advice on how to pay down student loans or tackle rising healthcare expenses in retirement. However, Generation X (those born between 1965 and 1980) is often overlooked as it is sandwiched between boomers and millennials.

Studies show that Gen X has woefully under-saved for retirement and has more credit card and overall debt than any other generation. Now is a critical time for Gen Xers as they…


Is a Mid-Life Career Change a Retirement Killer?

When it comes to making a change, it is important to consider the risks and rewards that accompany that switch. So, when considering a mid-life career change, what’s at stake? Could it kill your retirement?

Nobody wants to be stuck in a career that doesn’t fulfil them or makes them unhappy. However, if you are close to retirement, the decision to make a switch so late in the game could be intimidating. There are two common trains of thought: stick it out, stay on track and remain miserable, or make a change and risk delaying the start of your golden…


Financial Planning for Business Owners

For small business owners, it is easy to be so involved in the day-to-day operation of the company that they lose sight of thinking about themselves and their personal financial future. The business is likely an owner’s largest asset, so it’s critical to create a plan that will lead to both future success for the business and the business owner for when they decide to leave or retire. Creating this plan in advance can help business owners put themselves on a path to financial security.

Create a succession plan.

As a business owner, it is important to create a succession plan…


Suddenly Wealthy? How to Manage a Financial Windfall

As the Winter Olympics approach, it’s become top of mind that the athletes participating in the Games are hitting the peak of their careers at a young age. For many, their sport is their career, and through endorsements and partnerships, they can make a great deal of money early on in life. For example, 33-year-old Olympic ski racer, Lindsey Vonn, already has a net worth of $3 million, according to Forbes.  Whether it’s an Olympic athlete, NBA draft pick, pop star or a professional with high earnings, it is important to equip those who are young and successful to…


Financial Planning Tips for Special Needs Families

Financial planning is important at practically every stage of life, but it is especially critical as your family grows. For some, that may include more planning and preparation than others. As a parent of a child with special needs and as someone who is in the business of financial planning, I know and understand first-hand the challenges families face when it comes to planning for special needs kids.

Over the past 13 years, my wife and I have learned a lot about caring for our son, Thomas, which we couldn’t have done without the help of experts along the way….


Don’t Let History Derail Your Financial Future

The Great Recession had an enormous impact on our economy and while we’ve made strides since the downturn, there is one group that continues to feel the effects of this event. 56 percent of millennials report their investment decisions are strongly influenced by 2007-2008, according to a 2017 Legg Mason Global Investing Study. This was the first major pullback that this generation lived through, and it’s impacting their investment decisions today.

However, one recession shouldn’t drive future investment decisions. Investing, and starting early, is essential to securing one’s financial future. There are a few things millennials should focus on…


Tips to Maximize Your 401(k)

Most employers today provide a 401(k) savings plan to their employees, but statistics show that most employees are not taking full advantage of this critical employee benefit. There are a multitude of reasons people are not saving enough through employment plans. Some struggle because life is expensive and if you are raising a family there are a lot of competing expenses. Others simply don’t take the time to study their 401(k) or 403(b) plan and rank savings in a plan as a top priority.

Budgeting life expenses after you earmark your savings is a much more effective approach than going…

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