Financially Simple

Getting on the path to simplifying your finances, depends on where you are.
Choose which one best describes you?

January 19, 2018
healthcare cost planning

Income for Life Strategy #11: Planning for Health Care Expenses

We all know that healthcare costs are outrageous, no matter what your age it. However, the average couple can expect to spend close to $300,000 on out-of-pocket medical expenses, such as such as deductibles and Medicare premiums, during retirement. Sadly that is not factoring long-term care costs into the equation. When coupled with that, medical expenses can be a major budget buster, and you can see why planning for health care expenses is essential or better yet critical to maintaining an income for life.
January 18, 2018
invest conservatively

Don’t Invest Conservatively IF…

Recently, I had a client recently that have a question about his ten-year plan. He’s going to be selling his business, and we are building the value of it up for him to sell. Along with his business, he has this really, small retirement account. Most business owners don’t focus on their retirement accounts that much. I’m one of them. I don’t focus that much on it. For the most part, I mainly focus on my business. I mean I do have retirement accounts; however, it’s just not something I, or most other business owners, spend a lot of time on.
January 17, 2018
Communicating with a financial planner

Top 3 Questions to Ask Before You Hire a Financial Advisor

Choosing a financial advisor can seem overwhelming when you first start…especially if you’ve never delved into the financial world yourself. It can be tough knowing what to look for. However, there are some strategies that you can utilize to find the advisor that gels with your needs the most and will help you reach your ultimate goal. Making use of these three questions will undoubtedly land you with the advisor that can help you trek down the path you desire.
January 16, 2018
Tax Tip Tuesday Financial Blog Post

5 Examples of Email Phishing Scams

The IRS reminds people to be on the lookout for new, sophisticated email phishing scams. These scams not just endanger someone’s personal information, but they can also impact a taxpayer’s refund in 2018. We want to remind folks about the value of information protection.
January 15, 2018

5 Steps to Take When Your Financial Advisor Retires

If you’ve received a letter or phone call about your financial advisor retiring, you may be scratching your head, thinking, “What do I do next?” For the last several years, the number of financial advisors has steadily been decreasing. In 2008, there were roughly 325,000 financial advisors. By 2014, that number decreased to roughly 285,000.
January 12, 2018

Income for Life Strategy #10: Manage Pension Fund Payments

As we continue strategizing ways to ensure you have income for life, the next plan of action, may or may not apply to you—manage your pension fund payments. With these types of old style retirement accounts becoming akin to the rotary phone, if you do actually partake in one, consider yourself lucky. The choices you make concerning how you take your money could considerably affect the income you receive from it.
January 11, 2018
max out retirement accounts

Should I Max Out My Retirement Account or Invest Elsewhere?

Time and time again, you will hear me say, “max out your retirement accounts!” However in this situation, I’m saying DON’T! I know you’re probably thinking, “What?!?!?!?!” I get it, but hear me out on this one!
January 10, 2018
My Personal House

Do Extra Mortgage Payments Really Help?

When it comes to paying your mortgage everyone knows you can save money on the interest by shelling out a little more and applying it to the principal. That means additional principal payments benefit you later on, right? You may also view one dollar today as the same dollar tomorrow. However, that’s not technically true. It depends on how much and why you spend it. If that seems a little confusing, let me break it down a bit more for you.  That way you’ll know how much you really are or are not saving.