If you’ve moved jobs a few times, there’s a good chance that you might have some money in one of your old company’s retirement plans. Since changing jobs and keeping up with life is hectic and busy enough as it is, you might not have had time to figure out what exactly to do with that old account. But just leaving the money there may not be best for you, depending on your situation. So here are some things to…
Blog
Categories:
Treat Debt Like An Emergency
Why You Should Treat Debt Like An Emergency Whenever most people talk about their finances, they’re interested in investing in the stock market or real estate. It’s fun and exciting to be an investor. After all, who doesn’t want to have their money making them more money? But as the legendary college football broadcaster Lee Corso says, “Not so fast, my friend” The reason to slow down is that when I get to know more about someone’s financial situation, I…
3 Non-Financial Retirement Tips
Whenever we think about retirement, it’s easy to get caught up in the numbers. Have I saved enough? How much income can I take from my portfolio without running out of money? How do I maximize my social security benefits? Those are all good questions to ask, and one that a good financial advisor can help you answer. But what about the non-financial part of retirement? You can have all the money in the world, but money can only…
Decrease Expenses or Increase Income?
Throughout most of my 20’s, I was a massive cheapskate. I would do (almost) anything to save a buck. It was almost like a game to me, and I was committed to always finding ways to decrease expenses. Even if that meant a lesser product or quality of life for myself. There’s a quote by personal finance guru Clark Howard that pretty much described my thinking: “I will always take a lower quality product for a much lower price.” …
Not Making Financial Progress? Try This
Are you not making financial progress? If you’re like most people, you’ve got numerous things that you want to achieve with your finances. Maybe it’s buying a house, starting a business, saving up for a honeymoon or wedding, or something else. With all that you’re trying to achieve, it’s easy to get overwhelmed. So how do you do it all? With Two Simple Steps: Prioritizing Your Goals Focus On One Thing At A Time I know some people might be…
Why I Don’t Budget And What I Do Instead
It might be odd to hear that a Financial Advisor doesn’t budget. Kind of like hearing that the butcher doesn’t eat meat. It makes you pause for a second. Do they really believe what they say? Do they eat their own cooking? And it’s true, I don’t budget. At least not in the traditional sense of the term. I used to have complex spreadsheets in Excel that tracked everything that I spent. And I looked at it every month to…
Make The Most Of These Employees Benefits
Whenever we talk about our compensation at work, it’s really easy to focus on our income. But that income comprises only 70% of your total benefits. The remaining 30% comes from other types of benefits that your employer offers. And some of these benefits aren’t automatically given to you. Instead, they require you to know that they actually exist, and then sign up for them. Sadly, too many people aren’t aware and taking action to ensure they get the…
Which is better: Lump Sum or Gradual Investing?
What is the better way to invest a large amount of money: Lump Sum or Gradual Investing? While working with widows, I’ve noticed there are some unique issues they face. One of them is what to do with a large amount of money that they’ve suddenly received (often through life insurance proceeds, and also through the sale of the deceased spouse’s business). Many of us are accustomed to receiving money on a regular basis through our income. But most of us…
Do You Have Too Much Cash?
Are you a diligent saver? Always looking for good deals? And constantly making sure that your expenses are in check? If so, there’s a pretty good chance that your bank account keeps growing every month. And soon enough, you’ll stockpile a decent amount of cash. But do you have too much cash? I know what some of you are thinking: “Scott, I can never have enough cash!” I get what you’re saying. Having too much cash is a good problem…
Benefits of Delaying Social Security
One of the most important considerations in retiring is determining what to do with your social security benefits. Given the various options available, it can be a little overwhelming to figure out what to do. Yet there is growing research that shows the benefits of delaying social security. Many of us are already familiar with the large role that social security plays in a retirees life. If you aren’t familiar, here’s a quick refresher: For households over the age…