Traditional retirement definitions have been eroding for years. People are working longer today, both by choice and necessity. Some trends are changing while others remain the same. How might this impact how you define retirement? What’s changing Most pension plans...
Here’s one step to take now to get a financial head start on the new year! Create a balance sheet that tallies everything you own and all that you owe. Paper and pencil work well, however I’ve found digital copies more valuable. The value of a balance sheet is to...
Can short-term planning be as effective as a long term, goal focused plan? I believe so and, in some cases, it may be more beneficial initially then planning for the long run. Financial plans are created to go the distance, often forecasting your probability of...
There are 3 common financial mistakes families and professionals make when managing their cash. In no particular order they are: Holding too much or too little Chasing a return or yield Lumping all your cash in one account Last April, you may have wished for more...
Well, I’m completely cooked, my bracket is toast after the first round of the NCAA tournament! Filling out your bracket with your favorite picks is a fun gamble that may or may not pan out. Quite the opposite of financial planning which allows for more inputs in...
Take a look at your 12/31 investment statements. Specifically, review the dividends credited to your accounts on your statement. They are not insignificant if your portfolio is constructed of many different companies. Dividends from the equities you own are...
This is Buzz Lightyear’s famous quote as he soars across the room cheered on by his fellow friends/toys. It also describes how I view our firm as we continue to attract clients beyond Northern Virginia. While working on the business, we discovered that over 30...
As the year comes to a close, we naturally begin to consider a New Year’s resolution. Often this may be a personal fitness or financial goal, it may also be a positive change to improve your wellbeing. This is all done with good intentions, though often by late...
Imagine updating your financial plan in January, April, or December of 2020. How might the plan outputs at various dates have impacted your behavior and financial choices? What other life decisions may positively influence your approach to planning? January 2020: ...
What’s the purpose of diversification with regards to your investments? Why not just own companies you know well or stick with your employer’s stock? What other diversification strategies should be considered when creating a financial plan? It’s important to...
A financial plan is never perfect or fully complete, it evolves over time as you do. This may not be as intuitive as it first sounds. If a plan is not perfect, why spend the time and energy in creating one in the first place? Does it really make a difference if you...
Sin limites means limitless in English. It’s also the name of a nonprofit organization that has been created to enrich the lives of the Guatemalan people. What we take for granted every day in our country, even during a pandemic, is often a struggle for those...