The Life Planning 101 Podcast

If you Google the top financial concerns of Americans, you will see zillions of polls taken. The interesting thing is that the top three, though interchangeable, are fairly consistent: retirement and/or maintaining their current lifestyle, living paycheck to paycheck, and paying for healthcare. Louisa May Alcott had it...

By now you are probably aware that if you are taking your Social Security benefits, you won’t be getting a raise in 2016. You may even be aware that in addition to not having a Cost of Living Adjustment next year, the maximum benefit amount you can receive was actually reduced. Yet there is an even bigger concern when it comes to future benefits...

It is probably safe to assume that all of us have at one time or another been touched by, and wanted to contribute to, a good cause. And it is probably safe to assume that all of us have wished we could do more for that something that touched our heart. What if I told you that it is possible to do more and it may not cost you anything?...

Just recently I was speaking with one of my more affluent clients who wanted to lease a new vehicle and could not! Why? Her credit score was not high enough. Whether you are wealthy or not,having a bad credit score can cost you hundreds of thousands of dollars over your lifetime. Suppose two executives who have worked at the same company for the same amount...

If you ‘Google’ this question, it results in all sorts of mathematical tools that tell you how you should add up your assets that you have acquired over your lifetime. However, if you read about half way down the first page of search results, something changes with the addition of the word “true.”  There is a perfect quote by...

Maybe you have drawn up a will or even went to the extent to attend a seminar about something such as The 6 Things That Could Be Missing In Your Estate Plan and subsequently met with the firm who gave the presentation for a first and last meeting to set your plan in place. You probably even have a beautiful leather bounded binder with all of your estate planning papers secured inside as well as a...

Recently I was speaking with a client about how important it is to take preventative measures in regard to health - eating right, exercising and taking the right supplements. People are living longer than ever before, but that doesn’t mean we are living healthier than ever before, which can prove to be a double whammy. The same double whammy applies to...

Don’t feel alone. You don’t have to be a search engine whiz to discover that 77% of Americans saw their taxes increase in 2013 (the most recent tax data available). To add insult to injury, it hasn’t stopped therefor many of us. Itemized deductions are disappearing, we have two new taxes to fund Obamacare and increase Medicare support…

This was a recent headline in a newsletter we read frequently called “Trust Advisor.” The article opened with the statement,“Imagine that you’re a self-made person with $100 million in assets. Do you leave it all to your children?”1 Okay… $100 million is a bit outrageous, but it did give me anew perspective. What if my estate was$100 million? Would this be too much to leave my kids? ... If “yes,”...

Warren Buffet said, “Risk comes from not knowing what you’redoing.” Isn’t it interesting that the same could be said about “Fear?” Everyone has a slightly different relationship with risk. We are the sum total of our experiences or lack of experiences which have led us each to a precise point in life. Some of us thrive on risk. Some of us do everything we can to avoid risk. And the majority of us...

Our experiences over the last 26 years working with individuals who are in their last years of working, retiring, and reaching retirement have taught us more than you can imagine. But if you were to ask what the number one piece of advice we would give you from all of these experiences is, it wouldn't have anything to do with money. It would simply be to have something to retire to...

Have you ever thought about the information stored on your computer or other devices that someone would need to know about if you were suddenly incapacitated or no longer with us? I recently heard about a CPA in Wyoming that didn't. It took his family more than seven months to sort out the mess after his sudden death. And to add even more pain, it happened right in the...

This is a major question facing our generation. It is expensive - and is becoming even more expensive. Just the thought of needing it is unpleasant and can evoke strong emotions. And at best it appears imperfect:Buying a plan that will only pay for a certain number of years and which might not be enough to protect your family. Trying to predict the level of inflation for when you...

You’re not alone-whatever your excuse may be. It’s too time consuming, complicated, not sure how…Unfortunately, a budget is the very foundation for your entire life plan. Without one, you can’t build any kind of plan without running a huge risk that it may all fall apart. According to a GoBankingRates survey, 1 in 4 Americans’number one...

Everyone has a slightly different definition when it comes to success. Recently we attended a forum that is made up of some of the most “successful” people in our industry. Interestingly enough, this was the focus the forum which lasted almost two hours. One of the definitions I heard, "Success is reducing the“have to’s” and increasing the “want to’s," hit the nail on the head for me. Who wouldn't...

If you thought the market was going to keep climbing steadily without any hiccups, I am sad to say that’s what we call a pipe dream. We all wish this dream could be a reality, but the reality is market volatility is normal and what we have experienced in the market since 2011 is not normal...

The threat of identity theft was already bad enough, yet now we even have to worry about it when filing our taxes: The latest news from the IRS, released on August 17th, reported that thieves used personal information acquired elsewhere to access IRS website tax records and actually succeeded in about 220,000 cases. (It is interesting to note...

You may have heard that a confused mind says “No.” So today my goal is to simplify investing so that you can perhaps say “Yes.” There is no doubt that investing in today’s world is complicated. It is no longer “just” stocks,bonds and cash. In fact, on a broad spectrum we look at 49 different chassis for investing. Yes, 49…and that is only the beginning. 

I am on a little bit of a soap box about this lately, but for very good reason. We have encountered a few situations that one could hardly imagine. They have been stressful, cumbersome and worst of all--absolutely gut-wrenching. 

Coach John Wooden stated, “It is what we learn after we know it all that counts.” As human beings we like to feel respected and knowledgeable… and we sure don’t like to be wrong. A feeling that usually grows stronger as we get older. Sadly,this overconfidence or pride or whatever you might call it, can have disastrous results - especially when it comes to your health and to your money.