I met with a couple recently to deliver their financial plan, and throughout the first half of the meeting we laughed repeatedly as they seemed to have guessed my recommendations and either did or planned on doing exactly what I had written down. They’ve been contributing 15% of their wages to their long-term retirement plan, have no debt other than a mortgage that will be paid off well before retirement, are able to pay a college tuition bill within their cash flow, and up u

First off, if this situation applies to you then let me say… “Congratulations!” You’re doing a great job of saving for your future, and it will be well worth it down the road. For many, saving to your employer plan may not be enough. You may have progressed in your career enough to where you need to catch-up, or you may just be a fantastic saver and need to find other places to invest. Below are a few ideas for those that save: You can always contribute to an IRA. I meet with

When it comes to estate planning it is not only important to have the right documents, but it is crucial to have thought through the people who will be the beneficiaries, child custodians, and especially any individuals who will hold power of attorney over your affairs. A power of attorney is a legal document that gives another person the authority to make specific decisions on your behalf, as well as to act on your behalf in regards to those powers. They may be created for f

Tax filing season is underway and while you still may not have all of your forms, below are a few of the biggest mistakes I’ve seen in preparing returns this year: Not keeping records. People generally panic when the IRS inquires about items on their returns. As long as you claimed a legitimate expense and have the records to prove it, then items generally can be cleared up through a well-crafted response complete with copies of your receipts, etc. It can be impossible to rem

A growing concern for those managing the process of closing an estate is figuring out where deceased actively maintained accounts and kept items on the web. We often plan for ‘physical assets’, but as Claudia Buck points out in this recent article, many do not have a plan in place for “digital assets.” What happens to our online accounts and assets like photographs is important to consider as it can be difficult to find all places where accounts exist and take control of them

With market volatility and real estate prices where they are today, many are wondering, “Should I invest in real estate?” Real estate can add dimension and diversification to a portfolio. It can provide an asset that should grow with inflation as the costs of materials increase; it can also provide an income stream that also overtime increases with inflation as a wages and the population grow. And, of course, when it comes to land we all know they aren’t making any more of it

You’ve been contributing diligently to your 401(k), paying down debt, and are starting to wonder if there is something else you could be doing to maximize your investing for the long haul. Many individuals start to engage in the planning process once they reach a point where they are starting to save beyond the minimum amount of the match in their company retirement plan. Below are a few suggestions for those that may be considering what the next step may be to take their inv

I get the feeling that for many investors who have been on the sidelines though the latest market volatility there has been an “I told you so” moment; when it comes to the advice planners give to invest. It’s true – they missed out on the nervousness, the rollercoaster ride, and the bad taste in their mouth. As I’m prone to do, I wanted to write about how investing and the market over the long run isn’t like the casino, as I tend to think many investors equate it to. But, I s

“More money has been lost reaching for yield than at the point of a gun.” ~ (I believe first attributed to) Raymond F. DeVoe, Jr. I don’t envy the financial press. For as much thought that a simple blog takes for me, to have to find new topics to discuss on an almost daily basis is something I do not envy. But there is one aspect of the press, and I’ll include blogs, articles, and radio programs by professionals, that bothers me recently. Over the last few weeks, where we ar