Credit Cards: Which Card is Right for You? Credit Cards: Which Card is Right for You? September 5, 2023 Credit cards are kind of like chainsaws. When used properly they can be extremely helpful tools, but if they are used improperly, they have the ability create a horrendous amount of damage. Considering this, it’s important
Securing Your Future: 3 Retirement Savings Options for New Businesses Securing Your Future: 3 Retirement Savings Options for New Businesses August 1, 2023 As a business owner, having the freedom to call the shots and chart your own path is exciting. However, there are less glamorous aspects of running a business that often slip under
Having Kids? Financial Items to Consider Having Kids? Financial Items to Consider July1, 2023 You found the spouse of your dreams and got married. So now what?! For some, the next step is to have kids. While having children can be the greatest gift ever received, it is important to remember that they are expensive
5 Considerations When Renting Your Home 5 Considerations When Renting Your Home June 1, 2023 Generating rental income can be an excellent way to earn passive income, while offsetting some of your expenses! Here are a few key considerations to keep in mind when renting your house: Research the Market Research rental rates for similar
FIRST TIME HOMEBUYER – Things to Consider Before Taking that Leap FIRST TIME HOMEBUYER – Things to Consider Before Taking that Leap May 1, 2023 Life is full of many exciting firsts. Your first steps, your first car, your first love, your first job, and now your first home! You’ve made it to what most
The Various Ways to Hold Title of Assets The Various Ways to Hold Title of Assets April 1, 2023 Have you ever purchased your first home or opened a taxable account and got hit with the question “how would you like to hold title to this”? Most people just look confused like a deer in
Budgeting: The Nose Game Budgeting: The Nose Game March 6, 2023 A budget is a tool for allocating your income; budgeting can be helpful in meeting short and long-term goals Get started by determining after-tax income and how income can be allocated Track spending and savings on an ongoing basis to determine if you are
Secure Act 2.0 – Key Provisions and Dates As part of the Consolidated Appropriations Act of 2023, the SECURE 2.0 Act of 2022 (Secure 2.0) was enacted on December 29, 2022. Secure 2.0 continues to modify and expand upon provisions included in the original Secure Act of 2019. While there was a plethora of changes
Top Tax Planning Considerations for 2022 With another year end on the horizon, there are still a few more critical months to make some money moves and consider integrating tax planning into your overall financial strategy! Keep in mind that your overall goals and objectives should drive your financial plan first and foremost, with income
Health Savings Accounts: A Break in the Matrix Summary: A Health savings account (HSA) is available if enrolled in a high deductible health care plan (HDHP); HSA’s are portable HSA contributions are income tax deductible and grow tax free if used for qualified medical expenses (some limited exceptions apply) There are penalties for nonqualified HSA
Which Childcare Option is Best for Your Family? Whether you’re going back to work, want your child to build social skills, or just need a break, a lot of families at some point will have to make the decision on what kind of childcare they want to provide for their children. For some, just getting
Social Security: Myth Busters Edition No matter how many times some myths are debunked, we may still believe them. For example, cracking your knuckles causes arthritis (still possibly annoying but not true), humans swallow eight spiders a year in their sleep (gross and thankfully not true) and twinkies have no expiration date and would survive
You Got a Bonus – Now What? It’s finally time! You’ve worked hard all year, put in lots of hours, and now it’s time to receive your much deserved bonus. While it’s exciting seeing more money in your bank account, have you ever wondered “what do I do with it now?” If you’re like most
To Roth, or Not to Roth, That is the Question Summary: Traditional IRA contributions may be income tax deductible and have tax-deferred growth potential Roth IRA contributions are made after-tax and potentially grow tax free Your current and future income tax rates are a consideration when deciding between traditional and Roth IRA contributions When Shakespeare
2021 is Nearly Over. Are You Ready For 2022? If 2021 proved anything, it is that those who plan ahead are better able to handle the unexpected. Let’s review what you should consider doing now to prepare for the future. This year’s rollercoaster of events may have left you a little shell shocked. But your
Take Time to Reflect on the Financial Results from 2021 and Make a Plan for 2022 2021 has certainly been a year of financial highs and lows. No one can reliably predict short term moves in the market, but good financial planning can help prepare you for unforeseen setbacks. If you had a successful year,
First Time Homebuyer Programs First Time Homebuyer? – These Programs Are for You June 1, 2021 Do you fantasize about one day owning a home but don’t think you’ll ever be able to afford it? Do you wonder how you’ll ever come up with the down payment needed to purchase a home or how you’ll
Estate Planning Basics: Don’t Leave Your Estate in a “Purple Haze” Estate planning may be one of the last things that anyone wants to think about. Not only is it difficult to contemplate our mortality, but human beings may also have a natural tendency to procrastinate. The importance of proper estate planning can become clear
To Buy or Lease a Car? That is the Question Think about how many choices you make each day based on personal preference: shorts versus pants, tennis shoes versus sandals, coffee versus tea. If only financial choices could be just as simple! One of the most common financial dilemmas people face is whether to buy
Having Kids? Financial Items to Consider You found the spouse of your dreams and got married. So now what?! For some, the next step is to have kids. While having children can be the greatest gift ever received, it is important to remember that they are expensive (especially when you have two at the same
Best Practices for Data Security One of my all-time favorite movies is Mel Brooks’ classic 1980’s Star Wars inspired spoof: “Spaceballs.” Other than being hilarious, it can teach us some life lessons. For example, never underestimate the power of the Schwartz, buckle your seat belt before going to ludicrous speed, and absolutely do not hit
Avoid Breaking the Bank This Holiday Season How is it that time of year already?! Time goes by fast, and so can your money during this time of year! The holiday season always makes me think of the classic movie “Home Alone.” Kevin McCallister was accidentally left behind while his entire family went to Paris
Credit Cards: Which Credit Card is Right for You? Credit cards are kind of like chainsaws. When used properly they can be extremely helpful tools, but if they are used improperly, they have the ability create a horrendous amount of damage. Considering this, it’s important to take the right steps to make sure that you
How to Protect Your Wealth as You Get Older As you get older and closer to retirement, your financial practices need to shift slightly as you transition from working and saving to relying on your nest egg. As you approach this stage of your life, you need to take steps to protect your wealth. Keep
Did You Know? – Low Mortgage Interest Rate Environment Home Buying Opportunity Historically Low Mortgage Interest Rates If there is one good thing to come out of the coronavirus pandemic it’s that it has created a huge opportunity for home ownership! Did you know that for the first time in recorded history, the average
THE INSURANCE SERIES | PART 4 LONG-TERM CARE INSURANCE Today I want to talk to you about a very important piece of a financial plan, that I find a lot of people are missing: Long Term Care Insurance. Long Term Care Insurance is a type of insurance that will help cover the cost of
THE INSURANCE SERIES | PART 3 DISABILITY INSURANCE Today, let’s talk about disability insurance. I find that this is a common missing piece to many of my clients’ financial puzzles. If someone is dependent on your income, or you are dependent on theirs, and there aren’t enough assets to cover everyday costs should a
HAPPY FINANCES = HAPPY MARRIAGE It’s supposed to be the happiest time of your life! You just got engaged and are now planning your dream wedding. No one wants to come off that high to have that awkward talk about their finances. BUT YOU NEED TO!! Did you know that one of the biggest reasons
THE INSURANCE SERIES | PART 2 LIFE INSURANCE Today, I want to talk to you about Life Insurance. Life insurance has multiple uses, including charitable giving, covering your heirs estate taxes upon your death if you have significant assets, and even building cash value for the purposes of saving for college and retirement. But for
THE INSURANCE SERIES | PART 1 IN A NETSHELL Today is the first video in a four-part series about insurance. I know that it’s not everyone’s favorite subject because a lot of us dread spending money on something we may never use, but insurance is a necessary part of having a comprehensive financial plan.
MID YEAR MONEY TIPS Mid-year, is a great time to do a financial check in with yourself, to see where you currently stand with your finances, how much progress you have made since the beginning of the year, and how far you have to go to reach your annual financial goals by the end of
THE AWESOME POWER OF COMPOUND INTEREST Summary: Compound interest is interest earned on interest Compound interest may play an important role in meeting long term goals Time is an important component when thinking about compound interest The rule of 72 is a shortcut in calculating how long it takes for an investment to double in
NATIONAL 529 COLLEGE SAVINGS PLAN DAY Today, I’ll be discussing the details of a 529 College Savings Plan…what they are, and how they work. It’s no secret that college is expensive. With student loan debt exceeding $1.5 trillion and the university price tag rising 8 times as fast as wages are, there’s a lot to
YOU HAVE MONEY, NOW WHAT? INHERITANCE Today, I’d like to discuss a topic that I have helped many of my clients with: what to do if you receive an inheritance. Generally, I advise my clients not to include POSSIBLE inheritances as part of their overall financial plan, because you just never know what may happen,
BACKDOOR ROTH: NOT SO “HUSH-HUSH“ Summary: If modified adjusted gross income (MAGI) is too high to make direct Roth IRA contributions, backdoor Roth contributions can be made Pro-rata taxation of pre-tax IRA assets applies when implementing backdoor Roth Backdoor Roth contributions may be optimal once other retirement savings options (i.e. 401k’s and/or HSA’s) have been
DIVORCE Today, I’m talking about a topic that can be one of the most difficult times in your financial life: going through a divorce. Not only is divorce an extremely emotionally stressful time, it is often a huge financial stressor as well. You will be forced to make decisions that are likely to impact
Money Team Today, I would like to discuss three key players who are important to have in your corner when it comes to helping you with your financial affairs. I like to call them “Your Money Team”. They are a: Financial Advisor/Certified Financial Planner CPA/Tax Advisor Estate Planning Attorney 1 – A Financial Advisor/Planner:
Net Worth Today we are going to talk about Knowing Your Number, or your net worth. Your net worth is simply everything you own minus what you owe. And although the concept is pretty simple, a lot of people don’t take the time to fully understand where they are financially. And let’s be honest, we
TALKING TO YOUR SPOUSE ABOUT FINANCES Today I’m diving into the details of something many of us find difficult-talking to your partner or spouse about money matters. If you have a spouse or partner, it’s very important to communicate with that person about your financial situation. Even the strongest couples can have miscommunication
SHORT VS LONG TERM INVESTING Today we are going to discuss one way to minimize risk when we invest: by short and long term investing. Being invested properly is an important component to having a sound financial plan, part of being invested correctly includes making sure that the amount of risk you take matches your
MULTIPLE STREAMS OF INCOME: PROS AND CONS As a financial planner, I am constantly explaining the benefits of diversifying investments to my clients. In finance, diversification is a way to reduce your exposure to risk by investing in a wide variety of different asset types. But what about diversifying your income streams as well? What
401(k) You may be familiar with a 401(k) at your work place. A 401(k) is a retirement plan put in place by a business, where automated contributions can be made through your paycheck. One benefit of participating in a 401(k) plan, is that many employers offer to match a portion of what you save, which
SOLO 401(k) https://youtu.be/fI8J_sgZYGc A solo-401(k) can be used by self-employed individuals or business owners with no full-time employees except for a spouse. One unique feature of a solo 401(k) is that it allows you to save as both employer and employee, allowing you to possibly save even more than you would be able to save
Financial Good Fortune Takes MORE THAN JUST LUCK With St. Patrick’s Day right around the corner, you are likely to hear about “the luck of the Irish”. This phrase was coined during the gold and silver rush of the 19th century, when many successful miners were of Irish American descent. Unfortunately, whether you are Irish
SEP IRA (SIMPLIFIED EMPLOYEE PENSION) Today we are talking about the SEP IRA, which stands for (Simplified Employee Pension). As a reminder, and IRA stands for an Individual Retirement Account. A SEP IRA can be used by self-employed individuals and small business owners who would like to contribute more than the Traditional and Roth IRA
ROTH IRA (INDIVIDUAL RETIREMENT ACCOUNT) Today we are going to talk about Roth IRAs. If you remember from last week, an IRA stands for Individual Retirement Account, and you can open an IRA at a bank or financial institution. When you make contributions to a Roth IRA, you are contributing with after tax money, and
TRADITIONAL IRA The Traditional IRA. An IRA stands for an Individual Retirement account. You can open an IRA at a bank or financial institution. When you contribute to a Traditional IRA, you have the potential to lower your taxable income, in turn reducing your tax bill. So, if you owe taxes at tax time, and
Saving Automatically You may or may not know that February 24-29th is America Saves Week. America Saves Week began in 2007, and it’s an annual call to action to encourage Americans to commit to saving successfully. Each day of the week has a different theme, such as: saving automatically, saving with a plan, saving to
Websites to Help you Save Money on Travel I’m excited to share this list of websites with you! These are some of the best ones I’ve found to help you compare prices on airfare, lodging, car rentals, and other travel needs! This way, you can spend a little extra on activities during your trip, or
How to Make Money WHILE you Travel Have you ever dreamed of living on the road, in the air, on water, or all-of the above? Many of us have dreamed of becoming jet setters but wonder how to make a living without staying put! Well, here are some ways to travel the world WHILE making
How to Save Money for Travel According to NationalDebtRelief.com, the average American consumer racks up over $1,000 in additional debt after a typical summer vacation. I don’t want that to happen to you, so here are 6 ways to save for vacation! 1. Create a Travel Account: This is a separate bank account designated
SAVING UP FOR COLLEGE: What You Need to Know about a 529 Plan It’s no secret that college is expensive. With student loan debt exceeding $1.5 trillion and the university price tag rising 8 times as fast as wages, there’s a lot to worry about in giving your kids (or yourself!) the best possible future.
TRIANGLE POSE Ever since I was a young girl, three has always been my favorite number. Its symbolism appears quite frequently in religion, fairy tales, mythology, and literature. Even yoga contains the trinity of mind, body, and spirit. Trikonasana is one of the fundamental poses in yoga, and it is meant to bring the mind,
CHAIR POSE-UTKATASANA In English, we call Utkatasana, chair pose, because it looks as if we are sitting back in an imaginary chair. And while we tend to think of sitting down in a chair as taking a load off, sitting back in an imaginary chair is harder than it appears. In Sanskrit, Utkatasana doesn’t actually
WARRIOR Warrior Pose (Virabhadrasana) If you’ve ever attended a yoga class before, then it’s very likely you’ve stood in Warrior Pose. It’s one of the most common postures practiced in traditional yoga, today. Translated from Sanskrit, Virabhadrasana literally means “Hero Friend” pose. Virabhadra was a fierce warrior who saved the day in an ancient mythological
DOWNWARD FACING DOG Buy Low, Sell High! One of the most time-honored pieces of financial market advice is to “buy low and sell high.” This means that we want to buy into investments at low prices, and then sell them at higher prices so that we can realize a profit. Makes simple sense, right? Yet,
NO MUD, NO LOTUS Money Messages from the Mat (Part One) Welcome to the first digest of the “Money Messages from the Mat” series. Over the next several weeks, I’ll be taking one yoga pose at a time, and showing you how to apply the lessons we learn from these postures, out into the real
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