It may seem self-serving to write an article on when and how to hire a financial advisor. However, three things compelled me to write about this topic today. First, I realized that three of the last four clients who hired my firm already had multiple financial advisors (an average of three advisors each). All these …View Article
Category: Personal Finance
Personal Finance
Rewards Cards: Which One Is Best?
My good friend Mike Albano recently asked me which credit card rewards program was the best. I didn’t have a good answer…and perhaps that’s because there isn’t one. Nevertheless, I challenged him to do some homework and report back. His clear and insightful analysis on the best rewards cards follows below…with minor editing from the …View Article
Never Argue About Money: 7 Tips
Money is a hot button issue in many relationships. It’s common for spouses to have different spending and savings priorities. This often leads to conflict since these financial decisions affect so many aspects of a couple’s lives. Usually, one spouse is more focused on the present and places a higher priority on using money to …View Article
Car Purchase: New or Used?
Automobiles are among the biggest ticket items you’ll ever purchase. In fact, the average person buys 13 cars over a lifetime. The average cost of a new car in 2018 is approximately $35,000 according to Kelley Blue Book. Therefore, it’s really important to make good financial decisions when buying cars. The biggest decision is whether …View Article
Dog Ownership: Health Benefits & Financial Costs
This week I set out to answer two questions that have been on my mind: Do pet owners really live longer? And how much does it cost to own a pet? Several studies have shown compelling rewards to sharing your life with a furry friend. I am partial to dogs, so I asked our superstar …View Article
How to Prioritize Competing Savings Goals
Today, I am going to share my philosophy on how to prioritize competing savings goals. In other words, what do I save for first? What types of accounts should I use? And should I pay off debt instead of investing for the future? Unfortunately, life can get complicated, so many financial dilemmas will require you …View Article
Why Rich People Worry About Money
What amount of money would make you feel secure? Do you have a number? I hate to break it to you, but chances are, you’d still worry about money regardless of your net worth. This week I was reading a financial planning case study about a family that seemingly should not have had any financial …View Article
Women, Money & Divorce After 50
The majority of women (56%) leave major financial and investing decisions to their husbands. Most of these women (80%) are perfectly happy with this arrangement because they feel their husband knows more about financial matters. This arrangement can work out just fine…until it doesn’t. Women usually end up needing to take over their financial decision-making …View Article
OMG! – Investment Mistakes of Millennials
I think millennials get a bad rap. The two stories I hear in the financial press are that millennials spend too much on lattes and avocado toast to save for retirement, and those who are saving are too scared to invest. There is probably some truth to both perceptions, but recent studies from Oppenheimer, Wells …View Article
Are You the Millionaire Next Door?
One piece of advice that has served me well, and I often repeat, is: “When what you see and what you hear are in conflict, believe what you see.” However, one area where that advice does not hold up is in judging how wealthy people are. We often see people who appear wealthy but are …View Article