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5 Steps to Building a Successful Savings Plan

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When it comes to meeting and exceeding your financial goals, the first step is always to come up with a reasonable and achievable budgeting and savings plan. The following steps can help you get a handle on your expenses and establish a clear plan toward building your savings and meeting your financial milestones.

1. Look into your company retirement plans: saving a small amount of money per month, directly from your paycheck is an easy way to get started. Even if you only elect to save a small percentage of your salary, many companies offer a match on a percentage that you choose to save.

A Client’s Journey: The Challenging Decision to Divorce Your House When You Divorce Your Spouse

The clients we encounter and develop relationships with come from all walks of life. Each person’s story is different. As is the case with all things, not everything is as it seems from a distance. This is an important thing to be cognizant of, especially as financial advisors and planners because it is our job to identify what we can do to help people make changes in their lives that will benefit them financially, but more importantly give them a feeling of confidence and self-empowerment.

We met Jeanette at a financial independence session that we held a few years back. She was in her mid-fifties and had been divorced for two years. Jeanette confided in us that her marriage ended due to infidelity on her husband’s part and that it had been difficult to let go of the pain and anger that those circumstances caused her.

Bulls and Bears, Trade and the Fed: Advice for the Head Scratchers

As an investment advisor and partner to our clients, it is our responsibility to put stock market and investment news in proper perspective. While the media is reporting daily on market fluctuations and speculating on what might happen in the short term, it is our duty to help guide you through the ‘noise’ and stay focused on what truly matters when it comes to your financial plan and your portfolio.

It is not completely outlandish to feel a sense of uneasiness about investing in our current market climate. Unprecedented growth and increased volatility leave us wondering when the next market “crash” will occur. Political and economic influences are on the forefront, as investors scratch their heads in concern with everything from trade wars and maintaining economic allies, to inflation.

Empathic Listening and Building Trust

The Greek witch-goddess Circe gave her son Telegonus a poisoned spear to protect him on his journey to find his father Odysseus. When Telegonus finally found Odysseus he inadvertently killed his father with the magic weapon. This is similar to some of the consequences we may inadvertently incur when we try to administer well-meaning advice to someone who is coming to us for help or guidance.

I recently had this experience with a new client who came to us to discuss the challenges she faced with her finances. She was recently widowed and under an enormous amount of stress concerning her investments because her husband had handled all the family’s money. When she entered the conference room she appeared very nervous. We tried to set her at ease by playing soft music as we usually do when meeting with all our clients. We curiously watched her open her carton of statements and documents. Many of her documents were out of order and looked as if they had been filed haphazardly inside a wastepaper basket! Even before she spoke, her eyes reflected a plethora of misfit investment information, peppered with the sad assurances that her husband had instilled in her before he had suddenly passed away.

Fast Times: Evaluate Your Commitments as Often as Your iOS

All we have to do to create the future is to change the nature of our conversations, to go from blame to ownership, and from bargaining to commitment, and from problem-solving to possibility.

Peter Block, American Author

Remember the days when you were young and saved your money to buy something you really wanted? When you brought it home it was yours. You could repair it if it broke. The inner parts were relatively easy to understand. After you used it for a while it did not become obsolete; you could sell it to one of your friends, so he could enjoy it too.

Times have changed. Our cell phones now contain software that is not ours and we sign a licensing agreement to use it. We may own the shell of the phone, but we rent the technology. We don’t even wait for the phone to become obsolete. Many consumers crave the technology so much, they line up in droves for the next new upgrade.

How to Disaster Plan and Build a Financial Emergency Kit

As Hurricane Season ramps up and with Sandy only a few years down in the history books, it is important to consider what plans you and your family have in place in the event of a natural disaster. Disasters rarely give us a heads up. The best we can do in the face of disaster is have a plan and build a Financial Emergency Kit. Having these essential items safe, secure, and at the ready, in case the unthinkable occurs will save a lot of headache and heartache. There are various websites, including Homeland Security’s government webpage and the Red Cross, which can help. In this article we will go over some of the basic essentials everyone should have stored safely in case of emergency, specifically relating to your finances.

Maximizing Potential: Why Women Succeed As Investors

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Much has been written about the reasons women investors arrive at retirement with less money than men. One of the most obvious reasons is that women are likely to take time off during prime earning periods to have children or take on the role of caretaker for elderly relatives. And despite significant progress in pay equality over the past few decades, women continue to make about 80% of what is paid to their male counterparts. All of these factors result in women being unable to squirrel away as much money as men during their top earning potential years.

If this paints a grim picture of women’s ability to successfully invest and prepare for retirement, don’t fret: while women may have less money to invest, they often do so with more success than men. Women and men often differ in how they approach investing, and these differences can cause women to be more successful investors than men over the long run.

Saving for Retirement as a High-Income Earner

If you are a high-income earning professional, you may need to take additional steps to ensure you are saving enough for retirement. Many investors find that maximizing their company retirement plans may not be enough. You want to make sure you are saving enough in your income-earning years to maintain a similar lifestyle in retirement. Here are some tips to get you there:

Use your HSA as a savings vehicle

Health Savings Accounts are what we call triple tax free. This means that contributions made into HSAs are not just tax deductible, but the earnings are tax-deferred and the withdrawals are tax-free as long as they are used for qualified medical expenses the scope of which is very broad.

To Bit or Not to Bit: What Should Investors Make of Bitcoin Mania?

Bitcoin and other cryptocurrencies are receiving intense media coverage, prompting many investors to wonder whether these new types of electronic money deserve a place in their portfolios.

Cryptocurrencies such as bitcoin emerged only in the past decade. Unlike traditional money, no paper notes or metal coins are involved. No central bank issues the currency, and no regulator or nation-state stands behind it.

Utilizing Investment Opportunities to Achieve Goals

Risk Business Man on tight rope RESIZED
If you are like many conservative investors nearing retirement, adding a higher rate of equities to your portfolio can seem like risky business. But a portfolio that relies too heavily on fixed income carries its own form of risk. In our low-interest rate environment bond yields are low, and if your portfolio isn’t outpacing the rate of inflation, then you might find yourself running the risk of outliving your portfolio. As investors approach retirement, instead of reallocating to a portfolio comprised entirely of fixed income, investors may be better served with a combination of equities and fixed income to ensure the portfolio lasts for the next twenty-five to thirty years.

The Idea of Taking Risk is Unique to us All

Risk means different things to different people. Many times, risk implies permanent loss. Labeling a portfolio or investment as “risky” doesn’t really help us define how that investment will perform over the long term, or whether that investment belongs in the portfolio in the first place. When talking very broadly about stocks (equities) or bonds (fixed income), labeling these asset classes as risky doesn’t help much at all. A better way to define these two categories is using a measure of volatility. It is true that equities are more volatile than fixed income. Stocks fluctuate more than bonds on a daily basis and for many investors, looking at the daily volatility of their portfolio will drive them crazy! Volatility isn’t necessarily a bad thing—it is finding the right mix of stocks and bonds in a portfolio so you aren’t making major changes over normal market fluctuations. Over time, investors are rewarded for taking on more volatility, as stocks outperform bonds in the long run.

Visualizing Goals for a Confident Financial Future

 “There's no scarcity of opportunity to make a living at what you love. There is only a scarcity of resolve to make it happen.”

—Wayne Dyer, author and new-age thinker


 This past year we (Walter and I) wrote a book, “The Millionaire Within”. We are proud to announce that it has been published and that it is available for sale on Amazon! We chose to write it in order to share our experiences working with clients to help them change their perceptions about money. People often seek financial consultation to gain insight into “new” investing strategies or promising stock trends for the coming year. What we know is that trying to predict an unpredictable market is as futile as spending your last dollar in the hopes that more will come out of thin air.

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What a Long Strange Trip it's Been...

Bulls and Bears

Many experts consider investing in the stock market the best way to grow wealth, especially if you are young and have a long investment time horizon. However, it can be difficult to avoid much of the daily market “noise,” and you may start to question your financial decisions. Such seemingly extreme volatility can have even the most steadfast investor feeling a little unsure on occasion. The deluge of unprecedented news and the responding economy may leave investors questioning how best to proceed. Better to hunker down and ride it out? Sell? Invest in more conservative products?

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