Back in the day, when people actually “cashed’ their paychecks, and people paid for their life insurance by giving a weekly quarter to the agent, families budgeted by using the envelope method. They would place the cash available for each spending category in separate envelopes. As our culture became more comfortable with checking accounts, this strategy was mostly used to teach young people about budgeting. I imagine parent conversations went something like this: “Put 50% of your allowance into the envelope marked ‘treats,’ 25% into the envelope marked ‘savings,’ and the last 25% into the envelope marked ‘charity’.” READ MORE
Many of my clients don’t know what they are REALLY spending. As result, they question how they will be able to maintain their life style in retirement or, for that matter, they worry if they will be EVER be able to retire at all.
Once we do a retirement plan and answer those questions, the next step is to re-position their portfolios to generate the income they will need. Even people who are comfortable managing their own portfolios for growth, and they realize that managing a portfolio to generate income is more of a challenge. READ MORE
Given the volatility in the markets, and the low returns on savings, it is understandable that claims of a “guaranteed return” would be attractive. Even if it comes from a life insurance salesperson!
Twice last week I was talking with insurance agents who boasted about policies that offer “guaranteed interest rates of 3.5 – 4%.” My reaction? Concern. READ MORE
The good news: the kids are off to college & they’re fiscal adults for the first time
– The bad news: the kids are off to college…
You’ve spent years preparing for this moment. Maybe you’re saying good-bye at the curb, maybe it’s in front of the dorm, 1,000 miles away. You saved to fund the tuition; you did the college visit trip(s), assisted with endless college and financial aid applications and essays. Now they’re beginning the transition into adulthood. Most likely, this is their first opportunity to manage their own expenses. READ MORE
You compiled a budget(s) with the best intentions. And the budget(s) never quite stuck. You blamed your weak self-discipline and your lack of motivation. Let me suggest that there were other factors involved. READ MORE
I maintain two telephone lines because I don’t want to give up my business telephone number. I also had maintained two phone cards for long distance. You know, just in case one is full. And I was getting (4) ongoing bills for just telephone. I was paying extra for a voice mail box, insurance, in case, the telephone wires in my 50 year old house failed and I did not have call forwarding. READ MORE
I am all about helping my clients move forward financially. It’s my way to touch people’s lives in a significant way. I feel that I have found my work. Unfortunately, individuals are often referred to me for work that I am not the best resource.
I can help people in a number of ways: