How kids change you can be delightfully surprising. But they'll change your financial plan, too, in ways that might be challenging if you don't know how to adjust.  In what is probably news to no one, things change when you have kids. You know your responsibilities will shift. Your schedule will probably get upended. The smaller your children are, the less personal freedom you may have. How you experience all this, however, is unknowable. The process itself alters who you are now, and how you perceive and react to your life with kids in ways that you could not have even imagined when you ..read more

You asked - now we answer your specific financial questions and try to provide clarity on some money situations that lots of folks tend to find themselves in. We share our insights on: What to do with your money once you pay off debt, max out your retirement accounts, and aren't sure what to prioritize next How to think through a decision like investing in rental real estate properties What counts (and what DOESN'T) when talking about savings rates Where to put your cash if you want it to grow Which financial planning benchmarks you can use to determine if you're on track, ahead of the curve ..read more

In the last episode of our 3-part series on strategic planning for your finances is all about protecting family wealth. If you're working hard to build assets, you need to protect that growing net worth - and part of that is making sure you and your family will be financially stable no matter what curveballs you may face along the way. Instead of just running through "insurance 101" or defining parts of an estate plan, we're pulling back the curtain and showing you what a financial planner has for his personal finances and why he has it. We'll discuss the types of insurance policies we persona ..read more

Welcome back to our series on strategic planning for your personal finances. Today's episode is part II, and we're covering all things investment management. We'll talk through what you need to do to put together a sound investment strategy for yourself, and the to-dos any investment manager should take (whether that's you as a DIYer, or an advisor who you hire to manage your assets for you).  This episode covers: Assessing risk tolerance and risk capacity (and the difference between the two) Understanding your investment time horizon Allocating your assets correctly (which does NOT just ..read more

You've heard the term "financial plan" or "financial planning" a million times. But what does it actually look like to go through that process? Today we're sharing how we construct strategic plans for personal finances. We'll take you to the inner workings of the framework and systems we use at Beyond Your Hammock to help people use their money as a tool to get more of what they want in life - now and into the future. This is part one of our series that will explain the 5 stages of the financial planning process: Setting goals, clarifying priorities, and stating values Building out iteration ..read more

Do you earn bonuses, commissions, grants of equity comp, or other types of variable income? Then you better know not just how to manage it, but also how to optimize these lump sum cash inflows to help you achieve your goals and grow your wealth. In this episode, we'll explain how to do it. Join us as we discuss: What counts as "variable income," or what lump sums of money you may receive over time The number-one thing to do if you receive a lump sum of cash, from any source Two main methods to manage cash flow for solid but unpredictable income streams The mistakes to avoid when you receive a ..read more

38: You've likely at least heard of Robert Frost's famous poem, The Road Not Taken... and you might be just as likely to misinterpret it. In today's episode, we take a look at the REAL meaning behind one of the best-known pieces of poetry in American history — and explain 3 ways in which it can help us better understand how we look about and think through our personal finances and money management.  It might sound crazy, but jump into this convo with us to learn why Frost's original meaning got lost and what in the heck any of this has to do with how you deal with and make decisions on yo ..read more

36: There's a lot of fear and uncertainty in the air right now — which means, if you're following Warren Buffett's advice, it's a good time to get greedy in the stock market. In this episode of the show, we discuss the opportunity you might want to capitalize on and at the very least, why you should NOT stop making your regular contributions to the market. Most importantly, we also lay out our argument for why feeling optimistic about the future makes sense for long-term investors. Join us to get some perspective to remember that "right now" does not mean "forever" hear plenty of reasons to fe ..read more

33: When it comes to making financial decisions, most of us want to get things exactly RIGHT. It's your money, after all, and you probably don't want to screw it up! But aiming for perfection can actually hamstring your progress—and even lead you AWAY from the best financial choices for your goals and the life you would most enjoy experiencing. In this episode, we talk through what's truly important to understand if you want to improve the quality of the financial decisions you make every day and for the long term. Find full show notes at www.BeyondYourHammock.com/33 ..read more

30: The most common thing that stops people from achieving their highest financial potential? Themselves. "Learned helplessness" is a phenomenon that can stop you from making the progress you're capable of, and it happens when you experience struggle or suffering that you feel is out of your control — and if you practice this subconscious habit, it can prevent you from seeing, and acting on, what you can control to make your financial situation better. We all face hard times and difficult choices in our lives. What often makes the difference between someone who pushes through and carries on to ..read more