Several years ago, a CPA called my office to ask for my help with one of his clients who was a professional with a well-paying career but just hadn’t put a priority on saving for college for his daughter.  The senior in high school was making her final decision about where to go to school. She had gotten into a number of prestigious colleges with prices to match.  Cost was never a conversation that her father ever had with her.  He was shocked by the prices of the schools she was accepted to and the student was resisting considering a more reasonably priced school.  Situati ..read more

Your student has gotten into the school of his or her choice but your financial aid offer is less than you had hoped for.  This is an all too common scenario. There are some steps that you can take to try to increase need based aid.  Here is what parents can do when appealing a financial aid offer: Contact individual schools regarding what their procedure is for appealing an award.  Some might prefer that you complete an online form while others might want a letter. The more specific you can be regarding your circumstance, the better.  For example, explain any financial se ..read more

Robo-advisors have been heralded as the “future of investing” by their fans, but can computer algorithms really replace human financial advisors? Robo-advisors are less expensive than traditional advisors—but their low, up-front price comes with a loss in quality. Robo-advisors lack an irreplaceable human element, which prevents them from providing the essential qualities and services characteristic of traditional financial advisors. When you look more closely at the differences between the two, it seems obvious that robo-advisors could never truly replace human financial advisors. How do robo ..read more

Financial planning is a lifelong endeavor, but people often seek out investment advice that doesn’t fit their current stage in life. When it comes to saving for retirement, most Americans invest and manage those savings for six decades or longer. It’s important to consider how your resources and risk tolerance change as you move through different life stages. Saving for your retirement looks very different at age 30 compared to age 60. As financial advisors, we strive to help our clients develop retirement savings plans that are appropriate to the changing circumstances they face at every age ..read more

As financial advisors, we use facts and logic to guide our clients through investment decisions, rather than emotion. Even the most perceptive investors, armed with years of market experience, can fall prey to mental biases that lead to poor investment decisions. While it’s impossible to completely eliminate mental biases, we help our clients identify and minimize common investment biases that can lead to costly investment mistakes. What are the most common biases in investing? Behavioral psychologists Daniel Kahneman and Amos Tversky first explained the biases that inhibit investors’ ability ..read more

What value does a financial advisor actually provide? This may surprise you, but the value of a quality financial advisor goes far beyond portfolio advice. It’s about guiding clients to develop sophisticated financial behaviors. With robo-advisors and consistent market volatility in the headlines, it’s important to realize the comprehensive advantages of working with a personal advisor – not a computer algorithm. A recent study by Fidelity Investments discovered that working with a financial advisor can add up to 4% higher investment returns. In a similar study, Vanguard estimated that th ..read more

Ever find yourself daydreaming about retirement? Whether your dream retirement entails traveling the world, dedicating time to beloved hobbies, or helping your children and grandchildren, saving enough for retirement is critical to enjoying all of these endeavors. Everyone deserves the best retirement possible, but numerous planning mistakes can cause retirement plans to fall short. According to recent studies, retirement savings look grim for many Americans for reasons such as living longer, expensive medical care, and the rising cost of living. One survey showed that 45% of all Americans ha ..read more

As a financial advisor, I learn a lot about clients’ short and long-term financial goals through many conversations and building relationships with them. I also often learn about their frustrations and regrets regarding past financial decisions. During these conversations about financial regrets, I often remind clients that it is important to remember that with time comes perspective and experience. So while they, as adults, may have regrets about past financial blunders, they can use their knowledge and experience to help their children steer clear of the same mistakes. With April being Finan ..read more

Americans are living longer. That’s the good news. The bad news is that most people aren’t financially prepared. Many Baby Boomers will be in retirement for over 20 years and unfortunately, many aren’t saving and investing with a longer life-expectancy in mind.  There are serious consequences to financial planning around the wrong life expectancy. Some retirees are working later in life; others live in fear of running out of money, while others are leaving less of a legacy than they hoped. No one wants to run out of money in retirement.   How Long Should You Expect to Live? The Socia ..read more

  Almost everyone stresses over the daily obligations of financial planning, but many also neglect the significant life stages that require special attention and strategies. Here are 8 key life events that could benefit from professional financial guidance.   Graduating from College College graduation marks the first major transition into adulthood. The progression from school to career is a significant milestone and the perfect time to get financial advice.   Whether you or a loved one has graduated, this is also a great time to assess needs such as college debt repayment, sa ..read more