Posts Tagged ‘personal finance’
BUYING A HOME PART I
WHAT IS IT? Finding the right home to buy can be a challenging prospect, but knowing what to expect can make the process easier. You can (1) buy through agents representing the seller and/or use a buyer’s broker, (2) buy directly from an owner, or (3) shop the auctions and foreclosure sales. Once you find…
Read MoreWhy A Comprehensive Financial Plan Should Include A Life Coach
By Christopher Young, CFP®, CPWA®, CMFC® One of the most important roles of a financial advisor is helping clients prepare for retirement. Advisors are trained to evaluate a client’s economic situation and develop a strategic plan to best position them to accomplish their goals. However, finances are only one piece of the puzzle. Oftentimes, an investor may…
Read MoreRecord Keeping: What Documents Do You Need To Keep?
An important part of managing your personal finances is keeping your records organized and updated. But what are the important documents that you need to keep, and what documents are simply taking up space?
Read MoreHaving the ‘Money Talk’ With Aging Parents
Adult children find it difficult to have the ‘money talk’ with aging parents because they feel it is not their place. However, it is extremely important to have this conversation in order to protect family assets, eliminate unnecessary administrative difficulties and minimize potential disputes with family members before it is too late. In our experience,…
Read MoreDon’t Let Your Power Of Attorney Become Powerless
by Sarah Mouser, CFP®, CTS™, CES™ One of the cornerstones of a solid financial plan is properly configured estate planning documentation—especially your medical and financial powers of attorney (POA). POAs give you the ability to legally authorize an individual to handle your affairs and make healthcare decisions in the event you become incapacitated and are unable…
Read MoreIt’s Never Too Early to Plan for Retirement Income
by Steve Cassaday, CFP®, CFS In the world that today’s retirees live in, the probability is high that withdrawals from an investment portfolio will be an essential part of retirement cash flow. Pensions and Social Security are unlikely to be sufficient to meet the needs of most retirees. Unfortunately, there are many variables associated with portfolio…
Read MoreMoney Surprises Do Not Make for Happy Marriages
by Steve Cassaday, CFP®, CFS In marriage, openness and honesty are the most important requirements for a sustained, happy and healthy long-term relationship. Secrecy and mystification are not good for the union and can lead to disaster, especially where finances are concerned. In 35 years of helping people with money, I have seen many things but…
Read MoreWith Money, Be Tough on Adult Children
by Steve Cassaday, CFP®, CFS One of the things I have learned as a financial planner about parents and children is that the natural tendency for parents to help kids out financially may not always be the best course of action. Although the urge to help when your kids are in distress is almost irresistible,…
Read MoreWith Volatility, Emotions Can Get in the Way
by Steve Cassaday, CFP®, CFS When we distill out all of the noise in the world of investment advice there remains an essential immutable truth: The presence of volatility in individual investments and portfolios is the reason most people don’t get the investment outcome they would like. Here’s why: Volatility in the investment lexicon means variance…
Read MoreEstate Planning is Not Just About Death and Taxes
by Steve Cassaday, CFP®, CFS The primary purpose of estate planning is not the avoidance of taxes at death. Making sure that heirs and executors don’t face unnecessary and expensive administrative burdens when you die is our primary goal when consulting with clients on estate issues. Many investors we meet fail to recognize the importance of…
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