By starting retirement savings at age 30 instead of 40, young families can more than DOUBLE what they’ll have at retirement. Age 30 scenario: $2,994,527 at retirement (see chart) Age 40 scenario: $1,416,000 at retirement Time is your Superpower with money. Assumptions for chart (left): $100k income, 15% savings rate, 7%/year return, age 70 retirement For young families, saving for retirement can be extremely confusing… What accounts do I save to? How much to each account? Do I save to a Roth IRA or Traditional IRA? The good news? Young families have time on their side which is a hug ..read more

They don’t teach this stuff in school. Period. They don’t teach this stuff in school. Do you want to give your children the financial education you never got? What’s worse, your parents likely never got it either, and they couldn’t give you what they never had. It’s a familial generational pattern of financially winging it and self educating that YOU can stop by shaping how your child thinks about money at an early age. Many parents feel uncertain about when and how to discuss financial matters with their children but there’s never too early an age to work money into conversations. This goes ..read more

Many know of San Diego’s amazing weather but few know of the incredible nature adventures you can experience here. From sprawling beaches to scenic trails and unique wildlife, the city offers a diverse range of outdoor activities. San Diego county is literally the most bio-diverse county in the continental United States so there is a ton to see. Here’s a guide to the top 10 nature activities you can enjoy in San Diego. Leopard Sharks in San Diego 1. Snorkeling with Leopard Sharks in La Jolla The clear waters at La Jolla shores (out front of the Marine Room restaurant) provides the perfect s ..read more

Having a child brings many benefits, but it can seriously impact your quality of life if you don’t adequately prepare for how much it will cost you now and going forward. Jonathan Grannick, CFP® The vast majority of Americans aspire to raise a family. Giving birth to a child comes with many benefits and many costs. General living expenses in San Diego aren’t cheap and the same can be said for raising a child in San Diego. Today’s detailed guide provides an overview of the various expenses you can expect in the first year of your child’s life in San Diego, helping you financially prepare for t ..read more

“I don’t care what you have to do, if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000” Charlie Munger Introduction Charlie Munger, the esteemed partner of Warren Buffett and a titan in the world of investing, left behind a legacy of timeless wisdom. Munger, who passed away just before his 100th birthday, was often hailed as the "architect" of Berkshire Hathaway Inc. For young families in their wealth building years, one quote of his stands out above the rest: “I don’t care what you have to do, if it means wal ..read more

It’s Not Too late to Lower Your 2023 Tax Bill The tax deadline is soon to pass and with it some time sensitive opportunities will also disappear. Consider these tips to help reduce your tax liability (if implemented prior to the tax filing deadline). PS: For my fellow San Diego residents, the tax deadline was pushed back for many San Diego residents to June 17th for State & Federal due to disaster relief legislation (January floods). Tip #1 – File your return and pay on time Filing and paying taxes late can trigger an IRS late-filing penalty of 4.5% per month as well as a 0.5% monthly lat ..read more

Don’t just create wealth, EXPERIENCE it. Life is NOW (and it goes quick). Create memories you’ll never forget with people you love (or just go solo)! As a Financial Planner, I love seeing my clients spend money, but only if it adds to the bottom line of their lives… and doesn’t derail their other financial goals too badly ;) Rather than spending your money on ‘things,’ invest in experiences making memories with the people you love or on a solo trip where you’ll learn a side to yourself you may have never seen before. Investing in experiences & relationships will help lead you to living a ..read more

Do you want to have children one day? Already have them? Well… they’re adorable and expensive. The cost of raising a child to age 18 is $233,610! Those costs aren’t spread out evenly either. Read on to learn how much it costs to raise a child for the first 12 months and beyond so you’re more financially prepared to provide for your entire family. Kids are expensive. The all in cost of raising a child to 18 is $233,610! That’s not spent evenly though, what costs can you expect in the first year vs every year after? Financial planning means anticipating all costs you can to ensure you budget ..read more

To hell with waiting until 65 to enjoy your money. You want to build wealth and you want to do it more quickly than your parents did. Part of building wealth is knowing all the tools available to you. An ESPP plan is one tool in the “wealth building” toolbox you might be completely overlooking. Time, energy, and money. Throughout life we generally have 2 of the 3. When you’re young you have time and energy but no money, in your middle ages you have money and energy but no time, then as an old person you have time & money, but no energy. This is why our generation wants to build wealth m ..read more

You know what’s sexy about personal finance? Traveling the world, eating at amazing restaurants, buying your dream home, having savings to start a dream business, being able to provide for the people you love, and doing all those knowing you’re not completely sabotaging your future! You know what’s NOT sexy about personal finance? Budgeting. While it may not seem fun, budgeting is literally “the backbone” of your financial plan… i.e. what helps you reach the shiny experiences above. Think of it like eating your veggies as a kid. You simply can’t make a dependable financial plan when ..read more