Financial Advice for My Newly Married Son and My Other Children Paul K. Fain, III, CFP® Our legacies are so much more than money. One of my sons recently got married. It was a beautiful event, and it got me reflecting on my own experiences when I was in my thirties. At that age, as…
Real Financial Planning Means Figuring Out What Matters Most To You Paul K. Fain, III, CFP® The true purpose of a financial plan is not about amassing wealth for its own sake. It is about building a life that aligns your money with your values, goals and sense of purpose. That — not purchasing a…
The Psychology of ‘Enough’: Redefine Success Through Your Own Values Paul K. Fain, III, CFP® For many of us, the question “How much is enough?” is less about math and more about mindset. From the outside, it might look like someone has “made it” – a strong income, a beautiful home, a growing investment portfolio.…
An Effective Financial Plan Is More Than Just Numbers Paul K. Fain, III, CFP® When people think about financial planning, they often picture spreadsheets, investment portfolios, and retirement projections. While these are important, they tell only part of the story. A truly effective financial plan is about more than just numbers – it is about…
Financial Resilience Requires Planning Paul Fain, CFP® With approximately nine weeks remaining in the year, it is an opportune time to review your personal financial plan. I encourage you to take a “financial resilience” self-audit. Is your financial plan ready for the unexpected? Are you prepared for future shocks? Building financial resilience into your life…
For Effective Planning, Learn Your Retirement Income Style Paul Fain, CFP® It is a critical question affecting one-third of your lifespan: What is your retirement income style? There is not a “right” way to generate a retirement income. The key is knowing your preferences. For example, do you prefer the stability of a guaranteed income…
Following These Steps Can Lead You to Financial Freedom Paul Fain, CFP® What is financial freedom? The answer is a slightly different picture for everyone. But there are some common characteristics. According to Dr. Brad Klontz, Psy.D., CFP and an expert in financial psychology, “What we want to focus on is that financial freedom…
How to Adjust Financial Plans In a Time of Challenges Paul Fain, CFP® “Sell crazy someplace else. We’re all stocked up here.” (Jack Nicholson in the movie “As Good as It Gets”). I decided to watch a recording of the recent presidential debate. It got crazy! Especially when two very grown men, vying for…
How to Determine When It’s Time to Sell Investments Paul Fain, CFP® We have quite a bit of deferred maintenance due at our home (painting, replacing windows, carpentry, etc.). To get some projects going, should we borrow the money, use some of our cash reserves, or sell an investment? I really do not want to…
Financial Folly or Just Bad Luck? Paul Fain, CFP® Let’s face it, we all make mistakes. What are some common financial planning mistakes? To name a few: Overspending. Underestimating life expectancy. Neglecting to develop an eldercare plan. Underestimating the impact of inflation. Buying annuities without understanding them. Underinsuring the risk of disability. Investing too conservatively…