The Life Planning 101 Podcast

Are You Giving Your Money Away?

Taxes!  Uncle Sam comes knocking every year. And for some of us, Uncle Sam will even come knocking on our grave. I have met people in my life that don’t mind Uncle Sam. They feel it is their American duty to pay their full share of taxes. I don’t disagree that it is my duty to pay my share of taxes as an American, but the tax code was written with much intricacy to promote education, domestic business, non-profit support and retirement funding. Believe it or not, Uncle Sam would rather you spend your dollars in one of these areas than pay him...

Will Recent Social Security Changes Affect You? - Revisited

By now you are probably aware that if you are taking your Social Security benefits, you won’t be getting a raise in 2016. You may even be aware that in addition to not having a Cost of Living Adjustment next year, the maximum benefit amount you can receive was actually reduced. Yet there is an even bigger concern when it comes to future benefits...

Is Your Life Insurance Like a Bad Mattress?

Can you remember the last time you bought a new mattress?The difference between shopping for most things and shopping for a mattress is that we’re not sure how to price one - for most of us; it has been ages since we bought our last one and we have no reference point. Most folks just head out to a mattress store, lie down on the mattresses in a good price range and then rely on the salesperson’s honesty...

Getting to the Basics of Trust Planning

Over the years we’ve written several articles about estate planning. This week I would like to address a specific aspect: trusts. A trust is simply an agreement under which property and/or assets are held and managed by one party for the benefit of. Once again, begin by narrowing down what you want. Is it…

81 Reasons Why Not to Invest in the Stock Market

1934 Great Depression1935 Spanish Civil War1936 Economy Still Struggling1937 Recession1938 War Clouds Gather1939 War in Europe...

The Financial Impact of Caregiving

Did you know…52 million caregivers (one out of every five households) are involved in caregiving to persons aged 18 and over, and that number continues to grow? 1 You might be thinking: ”Wow, but that will never pertain to me.” But you might want to ask yourself this question: “Will one of my family members need my care in the future?” If the answer is no, you might want to think again. 80% of caregivers in this country are...

Is Organization Hurting Your Financial Future?

Ted was savvy with numbers and kept all his personal finances extremely organized. He was a successful middle class American and had several accounts set up, each with a purpose. There was an account dedicated to saving money to buy his next car, an account for emergency funds, an account for the grandkids, and various investment accounts. Ted was also...

Why Do I Need Life Planning?

The August 2008 Money Magazine offered up an article of several successful individuals talking about the smartest financial advice they have ever received. Billionaire and CEO of Virgin records, Richard Branson shared a story about his lack of knowledge in the financial realm and being humble about what you don’t know...

Annuities - Good or Bad?

There is a lot of controversy around annuities. Some advisors use them as if they were a cookie cutter for every client and some advisors despise all of them. Then, there are the majority of advisors that either fall somewhere between these two extremes or the solution-based advisors that use them when they see fit. So, what is the real story with annuities? Why do the extreme viewpoints exist? And, what is right for you?...

Unacceptable Regrets

We live our lives and are encouraged to live life fully and to not have regrets. Though in fact, that word itself establishes a negative frame of mind. However, we have found that this same word can produce a positive outcome  with the addition of a simple adjective: unacceptable.
At the end of your life, what would be a regret that you absolutely do not want to have?...

What Is Your Biggest Financial Concern?

If you Google the top financial concerns of Americans, you will see zillions of polls taken. The interesting thing is that the top three, though interchangeable, are fairly consistent: retirement and/or maintaining their current lifestyle, living paycheck to paycheck, and paying for healthcare.
Louisa May Alcott had it...

Will Recent Social Security Changes Affect You?

By now you are probably aware that if you are taking your Social Security benefits, you won’t be getting a raise in 2016. You may even be aware that in addition to not having a Cost of Living Adjustment next year, the maximum benefit amount you can receive was actually reduced. Yet there is an even bigger concern when it comes to future benefits...