Many people ask their financial advisors how to become financially independent. For many, it is a goal many aspire to, but the path can seem daunting. It’s more than just saving money—it's about creating a financial strategy that allows you to live life on your terms. Read more © Triton Financial Group. All Rights Reserved. Essential Tips to Become Financially Independent is an original post from Bob Gustafson, Certified Financial Planner and Registered Investment Advisor at Triton Financial Group. If you enjoyed this post, be sure to follow Triton Financial on Twitter, Facebook or LinkedIn ..read more

When it comes to estate planning, understanding the differences between a living (revocable) trust, an irrevocable trust, and a will is crucial. Each option serves a unique purpose and comes with its own set of advantages and disadvantages. Let’s dive into the specifics to help you decide which one might be the best fit for your needs. What is a Trust? A trust is a separate legal entity a person sets up to manage their assets. Trusts are set up during a person’s lifetime to assure that certain assets are used in a way that the person setting up the trust deems appropriate. Once assets are in ..read more

When it comes to tapping into your home’s equity, you’ve got two popular options: a Home Equity Line of Credit (HELOC) or a Home Equity Loan. Both can provide you with the funds you need, but they work in different ways. Let’s break down the differences so you can choose the one that’s right for you. What is a Home Equity Line of Credit (HELOC)? A home equity line of credit (HELOC) is when the bank approves you for a certain amount of money that you can access when you need it. Think of it like a credit card. You have the ability to borrow or draw money on an ongoing basis from an avail ..read more

Retirement planning is like navigating a ship through uncharted waters. You need a solid plan to steer clear of hidden obstacles and reach your destination smoothly. However, even those who are financially savvy can make mistakes that jeopardize their retirement dreams. Some financial planning experts believe retirement could be the longest phase of your life. Whether it is or not, all experts would agree retirement planning is important. In this post, we’ll explore some common retirement planning mistakes and how to avoid them. But before we jump in, let’s set the stage for our discussion ..read more

It’s really important you have enough money for retirement. The last thing anyone of us wants is for our money to run out during our retirement years. So, here are our top tips for ensuring your savings last through retirement. Work longer before retiring Within the last 15 years or so, many people have foregone the traditional retirement scenario of leisure and relaxation. Instead of traveling, volunteering, or spending time on the golf course, many people are continuing to work. Extending your working years can significantly impact financial security. You have the opportunity to bolster yo ..read more

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