As humans get older, our bodies aren’t what they used to be, and neither are our minds. As we age, we lose our physical ability and mental acumen. It’s often hard for people to come to grips with this fact. That’s why some families literally have to take the car keys away from elderly drivers. However, when it comes to financial decision making, it’s up to you to recognize the need for a transition plan. Once you acknowledge that you’ll eventually need help, you can significantly mitigate associated risks. How aging impacts our money matters As we age, our cognitive abilities undergo transfo ..read more

The debate of active vs passive investing has been raging since the 1970s. Proponents on both sides offer up what they believe to be objective evidence that supposedly supports their respective positions. If you are not that familiar with the active vs passive debate, let me briefly explain. Prior to the 1970s, there were stock pickers. Those individuals were picking portfolios on an active basis. Then, indexing became popular and experts realized by using computers to benchmark they got some good returns. This practice led to index funds. And the passive strategy was born Active vs passive ..read more

People often wonder if they should invest in real estate. Depending on who you ask, opinions will vary. Real estate investing can be a lucrative and rewarding venture, but it’s essential to tread carefully and thoughtfully because not everyone is cut out to own real estate. But there are several ways to invest in real estate successfully. Read below to discover some factors to consider when deciding if you should invest in real estate. By understanding and carefully weighing these elements, you can position yourself for a more informed and strategic approach to real estate investment. C ..read more

When it comes to financial planning and wealth management, you want an advisor that has expertise in financial advice and investment strategies. But more valuable is a financial expert who is also bound by a legal and moral duty to prioritize your best interests. A fiduciary financial advisor has both the expertise you need and the trust and ethical responsibility that ensures they are working in your best interest. This commitment to client-centricity distinguishes fiduciary advisors, setting them apart as professionals dedicated to transparency, integrity, and a personalized approach to fi ..read more

It’s no secret college is expensive. It can be overwhelming to think about tuition as a lump sum because it’s intimidating. But finding the best college savings plan is a crucial step towards securing your child’s educational journey. With the rising costs of tuition and other expenses, it’s never too early to start planning for the future. The best strategy for college savings is to focus on saving small amounts of money over a long period of time for your child’s college education. Then, as your child grows older, you can save greater amounts of money. Too many people are using their retir ..read more

Is it even possible to save too much for retirement? This question is a popular one in the media right now. Experts are weighing in and discussing the topic in a lot of different places. The short answer: yes, it’s possible to save too much. Why? Because you never know how long you’re going to live. However, due to the way Americans generally overspend, it’s unlikely the vast majority of people will find themselves saving too much money for retirement. Additionally, you need to consider your personal situation. Each individual will have different goals. For instance, you might want to leave ..read more

Retirement planning is a crucial aspect of securing your financial future, especially if you’re self-employed. Unlike employees who may have employer-sponsored retirement plans, self-employed individuals need to take proactive steps to create their own retirement nest egg. Fortunately, there are some excellent retirement plan options tailored to the needs of self-employed individuals. Before we jump into the best retirement plans for the self-employed, let’s get on the same page about what we mean by “self-employed.” For the purposes of this post, we’re going to assume you’re either self-emp ..read more

If you have just received a significant amount of money through an inheritance, would you know what to do with it? Many people think getting a large lump of money may last longer than it really does. Unfortunately, most inheriting a large sum of money won’t know how to put it to good use. But with some planning and understanding of your financial needs, you can make sure your inheritance can help you reach your financial goals, maybe a bit quicker than you had expected. Although inheritances are decreasing, about 20% of U.S. consumers receive an inheritance at some point in their lives. But ..read more

If you’re thinking about getting into the real estate market, or expanding your real estate portfolio, you’ve likely heard the term REIT. A REIT, or Real Estate Investment Trust, is a company that owns or finances real estate properties. You invest in the company that owns multiple income-producing properties. Therefore, you are not the landlord getting 3 AM calls about broken heating or dripping faucets. Someone else handles that. You own, and you collect your dividends without bailing water out of a flooded basement or changing light bulbs on a 20-foot ceiling. Think of a REIT as being ver ..read more

If you follow financial industry information, you may have read that it’s best to reduce risk in your portfolio as you near retirement. This is one of the questions many of our clients ask because their research leads them into confusion and perhaps a bit of panic. “This says I’m supposed to make my portfolio more conservative. But I’m worried that I won’t have enough money when I need it later.” That’s a very valid concern. And the advice is generally true. But there is another way to reduce risk in your portfolio and still achieve your long-term goals: develop an asset allocation strategy ..read more