I love watching football games, and eagerly anticipate football season each year. I played the game in high school, and that's a feeling you never quite forget. I remember how important it was at the time, and yet how incredibly simple: put the ball into the end zone, or in between the goal posts. That was it, really. Sure, there was strategy, but the goal never changed: score points, win the game.
With so many people buckling down for the academic year, wistfully viewing the vacation pictures, it's an appropriate time to be reviewing financial goals. Setting goals is a fundamental step to financial security. Our priorities, however, tend to shift as time goes on. Is your household ready for a "reset" button?
In the subject line I asked, "what will your legacy be?" I am not talking about money. Money is a useful tool, yes, but you can't take it with you. We can talk about financial legacies, and in my business we do so often, for it's a component of every good estate plan. Far more important, however, is passing on virtue. What kind of inheritance (rather than how much) will you leave behind for your loved ones?
Ah, summer. Do you love it as much as I do? Hot dogs, roller coasters, ice cream, backyard pools and sprinklers...these are what come to mind when I think of summer. I wonder what my children will recall of their childhood summers. Will they think fondly of the long drives in the van to visit far-flung family and friends? Will they think of the awe-inspiring sunset behind the mountains? Will it be the evenings spent chasing fireflies in the backyard with the neighbors?
When I'm looking at a client's investment portfolio, one of the first things I look at is how much the investment is actually charging my client. Very little in life is free, and index funds, stocks and bonds are no exception!
QUESTION: Kevin, should I buy this annuity? ANSWER: Probably not. Slightly more helpful answer: It's not likely to be the best investment vehicle for you. Annuities have high fees and long reaching tax implications that make them poor choices for most people. If we look at your entire financial picture, we are apt to discover more fruitful ways of building your long term wealth and securing your financial future.
Recent news has been full of socially responsible life advice: avoid this company because they do this unfair thing, patronize this company because they implement equitable something, etc. While not a new concept, socially responsible investing has come into vogue.
Mother's Day was just a few days ago; I hope you had the opportunity to reflect on the mother figures in your life. Was talking to them about their wishes for end of life care on the list of dinner topics? No? I'm shocked by that resounding . . . .
I have a statement to make. You may be surprised by its boldness. Stereotyping is always wrong, even in financial advising.
Are you as glad as I am that spring is finally here? Winter kept trying to make a comeback, but green grass and sunny skies have conquered. I hope you get to be outside and enjoy it!
Video presentation I recently gave to my professional business group discussing the "Why" of Step By Step Financial.
When it comes to retirement planning, there are four variables any couple needs to evaluate prior to turning in the notice. These variables include. . .
Today, I am launching the Step By Step Financial blog. The purpose of this blog will be to share ideas and thoughts regarding the financial planning needs of those on the cusp of retirement.