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.”  …

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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…

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Forthright Finances Investing Philosophy

If you’re going to invest in the stock market (whether on your own or with a Financial Advisor), it’s essential to know what your investing philosophy is.  What is going to guide your decisions on how to invest? The good news is this doesn’t have to be complicated.  You don’t need to get an MBA or degree in finance to understand (or create) an investment philosophy. What you need to do is make sure that you understand, and agree with,…

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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…

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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…

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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…

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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…

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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…

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What I’ve Learned Losing A Loved One

A year ago, my father died.  His passing was quick and sudden to us all.  He had always lived a happy, vibrant, joyful life.  And that was just as true on the day before he got sick. It was Memorial Day last year, which he spent with family grilling steaks and salmon.  If you had seen him, you wouldn’t have known anything was wrong. No one did. But the next day, he had a stroke.  Followed by 12 days in…

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Why Do You Need A Financial Plan?

There is a popular belief today that all financial advisors do is focus on investing people’s money. This is understandable given that for many decades, that was the main (or sole) focus of many Financial Advisors. But thankfully, that has been changing in recent years. Instead of just focusing on the stocks and bonds a client has, a Financial Advisor today is able to create, along with their clients, a financial plan on issues ranging from retirement, education, taxes, estate,…

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