5 Simple Steps You Can Take To Change Your Money Mindset
Workable Wealth
by Mary Beth Storjohann
3y ago
Change and control go hand in hand. Some changes fall easily into your scope of control, whereas others remain just outside it. You can’t control the weather no matter how much you wish that sunny January morning was actually sparkling snow. But there are other times when it doesn’t feel like you have control over a situation when you really do — and your personal financial health (and money mindset) is certainly one of them. People often fixate on the money aspects they can’t control, like the market or returns, instead of focusing on what they can control like savings, spending, investi ..read more
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The Money Tasks You’re Avoiding And How To Make Progress (Part 1)
Workable Wealth
by Mary Beth Storjohann
3y ago
Financial wellness is like eating healthy – it’s hard work and no fun but you know it’s good for you. Think about it, you always feel better after a healthy meal instead of a highly-processed one. But building a balanced meal plan takes more time and effort to accomplish. The same is true for a healthy financial plan. Not every financial planning task is exciting and groundbreaking, but each step secures your goals and vision for the future.  So let’s dust off your to-do list and explore actionable resources to help you accomplish some healthy financial tasks.  1. Increase (or G ..read more
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Why Should You Care About Financial Planning?
Workable Wealth
by Mary Beth Storjohann
3y ago
Money is a tool; a tool that can help you shape, design, and live the life you want. Way too often, people talk about money as the destination, when it’s really a medium to facilitate the journey. Financial planning can take your money game up a notch by bringing clarity, strategy, and intention to your financial life. It can illuminate your priorities and get you thinking about money differently. A healthy financial plan gives you the tools to take control of your finances and start living your life with passion, purpose, and freedom. So what’s the value of a financial plan? Let’s take a ..read more
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Workable Wealth Investing Series: What Investment Strategies Should I Use?
Workable Wealth
by Mary Beth Storjohann
3y ago
Welcome back to the second part of our investment lexicon series. By now you have a good understanding of what the market is, how the stock market works, and different methods of tracking market performance. Now it’s time to look at some key tools to keep in mind when investing in the stock market.  Remember, each strategy has its pros and cons so the best way to maximize them is working with a financial planner who’ll help your portfolio reflect the right risk with your financial goals. Let’s jump in. Diversification Diversification is a risk management strategy that seeks to ensure your ..read more
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Black Lives Matter.
Workable Wealth
by Mary Beth Storjohann
4y ago
My heart is heavy from the events taking place across the country. The recent deaths of George Floyd, Ahmaud Arbery, and Breonna Taylor are tragic events in a long series of injustices that have yet again exposed the layers of historical prejudice and systemic racism that Black people endure in our country. I stand with the Black community against injustice and racism.   My husband and I have been having a lot of conversations about our privilege. About how we want to raise and educate our children and about our desire to listen, learn and to get uncomfortable.  We are works in ..read more
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What You Need To Know About 0% Federal Interest Rate
Workable Wealth
by Mary Beth Storjohann
4y ago
Economic and social impacts of the coronavirus are still unfolding and the federal interest rate has moved to near zero. From stressing our healthcare system to millions of layoffs to business closures to mandated social distancing, we haven’t been faced with an economic crisis of this scale since the Great Depression. In response, the Federal government is doing what it can to keep the economy afloat. On March 15, 2020, the Federal Reserve cut interest rates to near zero in an effort to balance the economy.  So what are federal interest rates? How do they work? In what ways will this “ne ..read more
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How To Handle Your Investments During This Pandemic
Workable Wealth
by Mary Beth Storjohann
4y ago
COVID-19 has brought about many changes, including fluctuations and volatility of the market leaving many people uncertain about their next move, especially with their investments. You might be asking yourself:  Will I be okay? How are my investments really impacted?  Let’s talk about a few resources you can leverage to make intentional decisions about your investments when the market (and the world at large) feels unpredictable.  Defining the Market Sometimes the world of finance can seem really unapproachable. That misconception stems from wading through the jargon used to def ..read more
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What You Need To Know About Taxes and Investing
Workable Wealth
by Mary Beth Storjohann
4y ago
Taxes play an important role in your financial life. Their reach extends far beyond the dreaded April 15 (now July 15th for 2020) date and come into play much more than once per year. Taxes are actually involved in nearly every financial decision you make, chief among them being investing.  Taxes are to investing as textbooks are to education—you can’t have one without the other. So how do taxes work when you are investing and in what ways can they impact and inform your investment strategy? Let’s find out! What Accounts are Taxable? Before we dive into the type of taxes to look out for ..read more
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What is A 401(k) Rollover And How Can It Impact You?
Workable Wealth
by Mary Beth Storjohann
4y ago
Moving jobs can come with many changes: cleaning out your desk, onboarding and learning a role at your new employer, and adjusting to a different team and office environment. One thing people don’t always think about is what to do with all the money accrued in their 401(k).  After all, it is your money! Having a game plan is critical.  In general, you have three options: Keep the money where it is Cash it out (except don’t do that unless you want up to half of the value taken away by taxes) Roll the funds over into a different account, usually your new company’s 401(k) or an IRA A 401(k) rollo ..read more
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10 Things to Know About Your 401(k)
Workable Wealth
by Mary Beth Storjohann
4y ago
If you’re a member of the modern workforce, you likely have access to a 401(k). A 401(k) is a retirement savings vehicle sponsored by your employer. Through your 401(k), you’re able to contribute funds and invest them according to your risk tolerance and retirement timeline. The goal is to grow a sizable retirement nest egg for yourself over the course of your career by leveraging compound interest as you continue to contribute to your 401(k). As a financial planner, one thing I’m always surprised by is how many people have access to a 401(k), but don’t necessarily know what to expect from the ..read more
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