The key to financial security? It comes back to budgeting Paul Fain, CFP® A global economic slowdown and raging inflation have many households examining their spending choices. In good times and bad, budgeting is perhaps the most important tool to help you reach the goals in your personal financial plan. According to a 2020…
Elder care hits hard; seek insurance advice and plan early Paul Fain, CFP® “Old age comes at a bad time! When you finally know everything, you start to forget everything you know.” (source unknown) The Grand Dame of our family (we’ll call her “Ella”), 93 years old, has had a rough past five years:…
Inflation is challenging. Take a breath and re-balance your investment portfolio Paul Fain, CFP® “I will survive!” sang Gloria Gaynor in the 1970s. Back then, it could have been a battle cry: Oil prices surged, inflation peaked at 14%, and the U.S. stock market plunged 45%. Almost 50 years later, we are facing challenges…
Here are some smart financial planning moves for your spring ‘cleaning’ Paul Fain, CFP® A few weeks ago, we cleaned out and reorganized our bedroom closet and our garage. The annual spring ritual leaves us feeling better and a few dollars richer as we gave away some clothes, shoes and coats and sold some…
War is emotional, but rarely impactful on company profits Paul Fain, CFP® There is a humanitarian crisis in Ukraine. The loss of life is tragic and disturbing. And it is OK to wonder, “What does this mean for my investments?” Our financial planning firm recently hosted a current events webinar with Apollo Lupescu, Ph.D., vice president…
Here’s how to keep your focus on the big picture during unsteady times Paul Fain, CFP® Here we are in 2022 and the world seems like a crazy place (again)! Armies on the move. Consumer prices reaching decade highs. The coronavirus pandemic continuing to impact our daily lives. What should be your next decision…
Balancing Act: Interest Rates Paul Fain, CFP® “What are your IRAs paying?” asked my mother-in-law. Being extremely risk-adverse, and 93-years-old, she was referring to the prevailing interest rates on an IRA bank account or an IRA annuity. However, as I politely discussed with her (as she was preparing her famous beef stew), it is…
It’s always a good time to audit your retirement income strategy Paul Fain, CFP® Do you have enough money saved to retire? Are you financially independent from the need to earn a paycheck? This is some important math as the coronavirus pandemic has moved some workers into early retirement, voluntarily or involuntarily. Stated another…
A look back at the shaky financial predictions in this wild year Paul Fain, CFP® Is it a Christmas miracle? Did the financial forecasters get it right in 2021? Well, Santa should probably have given coal to most of the pundits and prognosticators. For instance, one of the largest banking institutions predicted a 5% return…
You are building your legacy right now Paul Fain, CFP® What does the term “legacy” mean to you? A few weeks ago, I had the honor of being a mentor at the Financial Planning Association’s Residency program. Working alongside five colleagues and training 28 resident students (newer financial planners), we pondered some of the “deep…