It is always good to know the financial commitment of owning a pet BEFORE you make the commitment. The old song asks, “How much is that doggie in the window?” Well, let’s ask Paul Fain, president of Asset Planning Corporation to weigh in on dog ownership and our household budgets. PAUL, THIS HITS HOME WITH…
“The best laid schemes o’ mice an’ men gang aft agley (oft go astray),” quoted from a Robert Burns poem, is often used to describe the futility of making detailed plans when our ability to execute said plans is uncertain. Market volatility can certainly trigger behavioral responses that are detrimental to our financial plans. Sometimes…
A few weeks ago, we took a family vacation to Panama City Beach, Fla. The ocean was wondrous. Like many wide-eyed tourists, we picked up real estate magazines and day-dreamed about owning a second home near the beach. In spectacular East Tennessee, it is not uncommon to know a family who has a cabin in…
In bygone days, the term “hot mess” referred to a soldier’s meal. My father-in-law would have coveted a hot mess as he crawled across Europe in the winter of 1944. On one cold night, he was hiding from a Panzer tank patrol in the bottom of an outhouse latrine, but that was a different hot…
What is a “hedge fund?” Well, simply put, a hedge fund is an investment company that invests in alternative investments (debt, derivatives, options, commodities, etc.) to either beat the market or provide a hedge against unforeseen market changes. Generally, hedge funds are considered to be opportunities for the “smart money” and to sophisticated investors, such…
Some Tips on Building Your Financial Resilience was originally featured in the Knoxville News Sentinel As I used to lace up my Converse Chuck Taylors in the high school locker room, I recall coach saying, “The best offense is a good defense.” So when we are getting knocked down or muscled around, how can we…
I’ve been wearing a Fitbit for almost two years now. Each day, when I’ve met my step goal, it gently buzzes to let me know – a “high five” of sorts. It syncs with my devices of choice and emails are sent automatically to let me know about various points of information, such as weekly…
Wisdom from a Yogi was originally published in the Knoxville News Sentinel Lawrence Peter “Yogi” Berra died last year at age 90. Without question, he was one of the greatest Major League Baseball players of all time, but he would have also made a great financial planner. In 2016, consider the financial wisdom of his…
After the worst yearly start for stocks in history, many investors are feeling some concern. That old myth resurfaces, “Investing in stocks is just like gambling.” Investing in stock is a lot like buying a lottery ticket. Gambling addicts would probably agree. In the 1990s, scads of obsessive day-traders seemed to gamble themselves into personal…
Working Together for Financial Success was originally published in the Knoxville News Sentinel As the year-end approaches, I asked my wife to join me at the kitchen table to review our money history and current financial plan. We discussed the following questions: What is your “grade” for the 2015 Fain Financial Plan? (Tina): “A” because…