May 31, 2016

Dow, S&P 500 Post Best Week Since March

Dow, S&P 500 Post Best Week Since March WEEKLY UPDATE – MAY 31, 2016 Stocks ended a solid week on a high note ahead of the Memorial Day weekend after statements by Federal Reserve officials boosted expectations of a rate hike this summer. For the week, the S&P 500 gained 2.28%, the Dow rose 2.13%, the NASDAQ increased 3.44%, and the MSCI EAFE added 2.11%. [1] Markets jumped on Fed statements last week after the previous week’s release of minutes from the April Fed meeting fanned expectations of an interest rate hike soon. On Friday, Fed Chair Janet Yellen stated support for an interest rate hike over the next few months, indicating that yes, the Fed is looking hard at a June or July rate increase if data holds.[2]  One measure of the probability of a rate hike at the June meeting rose to 34% after Yellen’s remarks, while bets on a July increase increased to 60%, more than double the probability estimate of a month ago.[3] Does the data support the Fed’s view of healthy economic growth? So far, it might. We got our second look at first-quarter economic growth Friday, and the latest official estimate shows that the […]
May 30, 2016

What’s the worth of a CFP ®? – Financially Simple

“What’s the worth of a CFP ®?”, In a meeting this last week, I was posed with the question by a dentist.  “How can I measure the worth of a financial planner?” This question was asked by a very knowledgeable and informed client.  This dentist was intently trying to understand a quantitative measurement for the hiring of an wealth manager.  This question resulted in an intense research for quantitative measuring tools.  Here is what I discovered…. What you don’t know can definitely hurt…especially when it comes to comprehensive wealth and retirement planning. That’s why working with a CERTIFIED FINANCIAL PLANNER™ could make all the difference in the world. Here’s how worth of a CFP CFP’s® are making a difference for those that choose to work hand in hand with one. According to a recent survey, of those that are within 15 years of retirement, a whooping 76% are stressed when it comes to their savings and investments. However, those working with a CFP® aren’t experiencing the same lack of confidence. With and Without Investors Confident with plan Happy with plan With an advisor 91% 92% Without an advisor 44% 44% Not only are those that work with an advisor stressing less about […]
May 28, 2016

5 Steps to a Successful Budget

“5 Steps to a Successful Budget” Did you know that two out of three Americans function without a budget? That’s equals out to about 70% of Americans living without a detailed plan that allocates what they should be spending and saving. We’ve all heard just how important budgets are to keep your finances on track, yet the vast majority of the country’s citizens continue to live without one. Why is that? For many people the word budget conjures up images of frugality they aren’t willing to partake in…they see it as more of a restraint than a liberating element to their life. That couldn’t be further from the truth. Once you’re in control of where your money goes then you know how you want to spend it. Here’s five tips to transform your financial life by simply constructing a budget. 5 Steps to a Successful Budget Identify your income The best way to do that is to look at what is deposited into your bank. You can see the after of your health insurance and 401k deductions. This means you aren’t basing things off a salary or gross income.   Track your expenses You can do this a number of […]
May 27, 2016
Why a CFP is Vital in Your Financial Plan

You can afford a CFP ®! – Financially Simple

“You can afford a CFP ®!”, One of the biggest misconceptions when it comes to CERTIFIED FINANCIAL PLANNERS™ is that only the affluent can afford them. That couldn’t be further from the truth. In all honesty, you can’t afford not to hire a CFP® or afford a CFP when it comes to planning for future expenses and here’s why. If you’re looking to lose weight, people have been told over and over the benefits of hiring a personal trainer. Even when it comes to running a race, having a coach help you prepare is invaluable. However, our financial health is an area we overlook and ignore the most. Yet we can benefit greatly from hiring a “personal trainer” for finances just as much. That’s where a CFP® comes in. My job is to understand a client’s goals and help them develop a plan of action to meet those expectations and do my best to keep them from getting derailed along the way…just like a fitness instructor would do for your body. You may be thinking, “ok I get that but I still can’t afford to pay for one.” Most CFP’s® charge an entry level or minimum fee. For example, they may charge $200/month, which […]