Pulling money from your retirement account could cost you more than you think. No matter how small the amount, it could be costly to your future. Most people will judge the value of a financial advisor by how big or how great their portfolio performance. However, I’m here to tell you that’s not always the case. A true wealth planner someone who can look holistically at someone’s wealth can save you a ton of money. Let me explain.
Millennials typically get a bad rap. Ask any baby boomer and you will likely hear how this generation is lazy with no vision. I actually had that very conversation recently with a client that is in his late 70s and very much a traditionalist. While some millennials may fit that bill, I’m finding quite the opposite to be true. The millennials I work with are actually very driven. They’re asking all the right questions to garner as much knowledge as they can about financial issues in a way their parents just never did.
The thought of being debt free sounds like a dream come true for most of us. Many folks are wrapped up in credit card debt, car payments, mortgage payments, etc. However, there’s one debt freeing yourself from could do more harm than good, from a mathematical standpoint. That is your mortgage debt. Honestly, it’s often not a good idea to pay it off or even pay extra on it before age 50.
If you are like most Americans, you probably have three to four credit cards you can pull out of your wallet at any time. Credit has become a way of life. The convenience is like no other, and with the ever-increasing threat of identity theft, the fraud protection they offer is typically unbeatable. The reward programs aren’t too shabby either.
With car sales hitting record highs, a common question I seem to keep answering is, “Justin, how should I pay for a new car?” While meeting with a client recently, he asked this very question. He actually had a few options he was looking at utilizing for the purchase and wanted my take on what I felt would work best. So with so many others asking as well, I decided to analyze each of the methods he considered. Perhaps a few of them are options you are exploring as well.
Move over summer; there’s a new wedding guest in town. According to a 2015 survey, wedding bells are now ringing more in the fall than the summer. September and October come in tops for the most weddings. This CERTIFIED FINANCIAL PLANNER™ can certainly vouch for the vivid array of colors and cool temps that the Smoky Mountains offer as an ideal wedding backdrop during this time. While the autumn equinox lends a picturesque setting, it may not be any kinder to your wallet than a summer wedding. Nevertheless, there are ways to actually have the wedding of your dreams (whether your Team Fall or Team Summer or anything in between) on a budget. Here are 12 wedding budget tips to keep your expenses under control.