‘Spoil’ Your Grandchildren Wisely

| Nov 4, 2022 | Nov - Dec 2022, Wisdoms

Many grandparents spend money on their grandkids, whether by chipping in on big expenses like tuition bills and travel expenses, or covering smaller costs like meals and holiday gifts. The inclination to be generous is understandable and many seniors say it brings them joy to support (or even occasionally spoil) their grandchildren. But lavishing them with gifts shouldn’t come at the expense of your or grandparents own financial security.

How to Reduce Your Investment Risk

| Sep 1, 2022 | Sept - Oct 2022, Wisdoms

During times of market volatility like we’ve seen since the start of 2022, it’s natural to feel a bit skittish about the stock market. It’s a potent reminder that there are risks to stock ownership. Individual stocks are not guaranteed to grow and may lose value. The good news is that the stock market has historically delivered a higher rate of return than other forms of investment in the same timeframe.

Navigating Your First Year in Retirement

| Mar 6, 2022 | March-April 2022, Wisdoms

Like most Americans, you’ve probably spent years working to achieve the retirement of your dreams. Then there comes a point when this career milestone changes from a distant goal to an imminent reality. You can make your first year away from work more rewarding and less stressful when you take the time to anticipate  potential challenges and prepare for how you will handle this important life change.

Navigating Today’s Housing Market

| Oct 1, 2021 | October-November 2021, Wisdoms

In many parts of the country, home prices have been soaring. According to the National Association of Realtors, the median existing-home price rose more than 17 percent in the one-year period ending in March 2021. This reflects just how competitive the market has become for homebuyers. If you are among those looking to purchase a new home, you should have a solid strategy in place before entering the market.

A Retirement Dress Rehearsal Can Ease Emotional & Financial Concerns

| Apr 4, 2021 | April - May 2021, Wisdoms

Two emotions are likely to strike those who are nearing retirement — excitement and fear. Leaving the world of alarm clocks and offices and having time to pursue your own passions on a daily basis is liberating — but the apprehension of entering a new life stage can easily creep in. Although work-related stress will disappear, the responsibility of filling each week in a satisfying way can be a challenge. Top that off with the ever-present concern about long-term financial security in retirement and the nerves can grow even greater.

Rules for Adult Kids Returning Home

| Feb 1, 2021 | February - March 2021, Wisdoms

As the COVID-19 pandemic spread across the country, parents saw a wave of adult children move back home. Pew Research recently found that 52 percent of 18- to 29-year-olds now live in a parent’s house. Some children may have moved back simply due to safety during the virus response or because universities switched to e-learning. Others may have returned because of financial reasons.

Is Now a Good Time to Refinance?

| Dec 3, 2020 | Dec 2020 - Jan 2021, Wisdoms

Interest rates recently hit all-time lows as the Federal Reserve made cuts to mitigate the financial impacts of COVID-19. If you’re a homeowner with a monthly mortgage payment, you might be wondering if now is a good time to refinance. While a lower interest rate may yield a more affordable monthly payment, there are other factors to consider. Here are seven questions to ask yourself before making the decision to refinance…

Now’s the Time: Charities Need Our Help

| Aug 5, 2020 | August - September 2020, Wisdoms

In these challenging economic times, many worthwhile charitable organizations find themselves in a precarious financial position. Meanwhile, they are experiencing unprecedented demand, especially those charities that provide basic needs like food and shelter. Thankfully, new, unique provisions in the tax code have been implemented in response to the COVID-19 crisis, creating more incentives for giving.

The Secret of Happy Holidays: Spending with Discretion

| Jul 11, 2020 | December 2010, Wisdoms

As we enter the third holiday season after the onset of the “Great Recession,” American consumers may be battling penny-pinching fatigue. We’ve scrimped. We’ve saved. When do we get to reward ourselves? Sure, it would be fun to celebrate the holidays with a big spending binge, but if there’s one lesson to be learned from the recession, it’s the importance of fiscal prudence.

Retirement: Yesterday, Today and Tomorrow

| Jul 6, 2020 | Wisdoms

It’s safe to say that your retirement will bear little resemblance to that of your grandparents—and even your parents. The world has changed so much in the past 20 years that even the savviest prognosticators couldn’t have predicted all changes in society and technology that have transformed our daily lives. We now know there is no turning back from the life we’ve become accustomed to, but it begs the question: What’s next?

COVID-19 and The Market

| Jun 4, 2020 | June-July 2020, Wisdoms

Historic market volatility has washed over the globe in recent weeks. The spread of COVID-19 (the disease caused by coronavirus) has precipitated a record drop in the stock market and a sharp plunge in bond yields, sending the U.S. into its first bear market in over a decade. People around the world are facing a health crisis that’s driving an economic crisis, which are leading to high levels of anxiety for families and individuals regarding their well-being and financial situation.

Financial Planning for Non-parents

| Feb 3, 2020 | February - March 2020, Wisdoms

Those who do not have children tend to have more financial flexibility to pursue their goals throughout life and retirement. This makes sense when you consider that the cost of raising a child from birth to adulthood is currently estimated at $233,610 (before you factor in college). However, childless singles and couples still need to manage their future financial needs.

Managing Aging Parents’ Finances

| Oct 1, 2019 | October - November 2019, Wisdoms

Making financial decisions takes time, attention and energy at any age. In the case of elderly adults, it can become increasingly difficult to manage daily finances, particularly if their health is declining or they’re experiencing cognitive issues. If you’re providing support to aging parents — or plan to in the future — here is some advice on how to handle the situation and prepare for what’s to come.

If Your Kids Plan a Later-in-Life Family…

| Aug 2, 2019 | August - September 2019, Wisdoms

Many couples are choosing to start families later in life compared to their parents and grandparents. And, increasingly, mothers are waiting to have their first child at age 35 or older. This trend has financial implications. On one hand, parents may be more financially secure and have clear priorities for the future. On the other hand, these parents are closer to retirement, so balancing kids’ expenses with saving can be a juggle.

The Key to Financial Advisor Acronyms

| May 26, 2019 | June - July 2019, Wisdoms

Professionals in many industries tout their education and professional experience as a way to demonstrate their expertise and set themselves apart. The financial industry is a prime example. With almost 200 professional credentials available, advisors can sharpen their ability to serve clients well. If you are searching for a financial advisor and seeking clarity on what the acronyms after each professional’s name means, here is a primer on eight of the most commonly used designations.

5 Retirement Planning Mistakes to Avoid

| Feb 2, 2019 | February - March 2019, Wisdoms

The most important goal for many of my clients is to retire on their terms – which often means planning a long, secure retirement that enables them to check off items on their ultimate bucket list. Retirement requires careful planning in addition to avoiding financial missteps along the way. Here are five common mistakes, and strategies to avoid them…

Setting Financial Goals You Can Keep

| Dec 2, 2018 | Dec 2018 Jan 2019, Wisdoms

Setting New Year’s resolutions is a tradition for millions of Americans who see January 1 as a fresh start. However, we all know how easy it is to have resolutions fall to the wayside as the year progresses.

Fortunately, if the goal you have in mind is a financial one, there are ways you can break it down into steps that will keep you motivated and on track to achieve it.

Educating Adult Children About Saving

| Sep 27, 2018 | October - November 2018, Wisdoms

Many parents, in addition to planning for their own future, care deeply about helping their children find their financial footing as they enter adulthood. Having spent decades building up their nest eggs for retirement, they recognize the power of long-term financial planning and hope their children will capture the same benefits by starting to invest while they are young. Convincing someone just starting off in their careers to set aside money for retirement — which to them, may seem like light years away — can be a tough sell.