When it comes to needing a check up on your health, you probably make an appointment with your doctor. Your money isn’t any different. Ever so often you need a financial check up too. That’s where hiring a Certified Financial Planner™ comes in. However, you don’t want to hire just any old Joe on the street claiming to be a CFP®. So what do you do? Ask questions. The CFP® Board suggests as least ten questions to ask your prospective planner to make sure they’re the right fit. 1. How experienced are you? Experience is essential. You want to know their track record. It’s important to know how they’ve helped other clients like you. 2. Are you qualified? Ceritfication matters when you’re looking to hire a financial professional. A CFP® practitioner, a certified public accountant-personal Financial Specialist (CPA-PFS) or a chartered financial consultant (ChFC) earned credentials to support those titles. They took […]
Whether they’re personal or financial, life always comes with regrets. How many times in life have you uttered the words, “If I could do that over…” Probably many! Just like you I’ve wished for my fair share of do-overs. So as we head into 2018, I’m going to share the five financial do-overs I wish I had, in hopes that you won’t make those same mistakes.
I’m gonna talk today about one of my favorite subjects. And it’s one for the entrepreneur. What are 7 things you can do to make sure your business is successful? 1. The first step you must do is determine where you are at right now. Where are your assets? How much money are you spending? What have you saved thus far? Do you have your business plan? Figure out exactly where you’re at. 2. Where do you want to be? Why are you starting your business? What aspirations do you have? Do you want to retire one day? Do you want to sell your business and travel the world? Do you just want to have a residual based income that you can enjoy for the rest of your life? 3. Determine the gap. After you know where you are and where you want to be, determine the gap. How much […]
As a CFP® I’m constantly in contact with investors who develop ideas and opinions about the stock market. I understand their angst. I too struggle to make the best decisions with my personal funds. (This is why I hired a financial planner for myself!) For that reason, we decided to put together a list of 24 of some the most interesting investing statistics we think you must know before diving in. Just about every day we hear how bad finances are in this country. Unfortunately, we tend to be apathetic and just to accept those statistics. So it’s important to learn all we can about finances to drown out the excess noise. On the opposite end of the spectrum, some tend to discredit stats altogether. Both are dangerous. BE CAREFUL! These approaches are costly! Don’t make the mistake of not learning from the mistakes of others. Before we start any investment, […]
As 2017 gets underway, now is the time you to do a major overhaul of your finances and make sure you aren’t making any of these bad financial decisions. No budget—I’m not trying to beat a dead horse here, but budgets are crucial to staying financially healthy. Not sticking to your budget—Blowing the budget is just as bad as not having one. If you don’t stick to it, you’ll find yourself turning to credit. Make a budget and stick to it!! No emergency fund—Life happens. It happens to all of us, and when you aren’t prepared for that unexpected expense, you’ll resort to #2. So sock some money away into an easily accessible account like a savings account or money market. Then vow not to touch it unless you have an emergency. Keeping too much money in cash—Cash-on-hand is great. However, too much cash-on-hand isn’t. Whatever excess you have lying […]