Unbiased financial advice from fee-only financial planners

Women: Strategic Investments and Financial Planning are Important

Aug 28 2018

In”Women can take control to protect and grow their wealth,” the Nashville Business Journal offers a summary of a more detailed report on gender differences and investing from UBS. Some of the challenges women may face when attempting to build wealth include:

The pay gap between women and men
Seeking work with flexible hours
Taking time away from work (often for caretaking duties)
Living longer than men

If it is true that many women seem reluctant to take risks with their investments, “here is also evidence to suggest that women may invest in a more disciplined …

Estate Planning: Plan to Distribute Belongings and Mementos

Jul 17 2018

“How to Divvy Up the Inheritance and Keep the Family Together” offers tips on how families can handle the distribution of tangible items that have intangible value. Relatives will want cash, land, and valuable jewelry but they will also want tchotchkes, mementos, cheap furniture, and pictures too. And the emotions attached to these items with little market value are just as strong as those associated with cold, hard cash.

Some people are reluctant to discuss such matters and imagine that their heirs will figure it out. Emotions run high after a death in the family and long-simmering resentments …

Medicare Enrollment

Jul 16 2018

When you first reach age 65, assuming you have met the coverage requirements you are eligible for Medicare enrollment. There is a specific period of time that you’re allowed to enroll. After that period you can still enroll, but there can be penalties. That is, unless you have had “creditable” coverage during the period when you were eligible – usually an employer’s plan. This creditable coverage has to meet certain minimums.

Often, employer medical plans require members over age 65 to enroll in Medicare, so that the employer plan will be secondary to Medicare when the member is eligible. This …

What Is Integrated Financial Planning?

Jul 13 2018

Financial planning is the process of determining what financial steps will best take you from your current situation to fulfilling your life goals. While each component of financial planning is personal to your unique situation, each component part is also integrated with other components creating a dynamic and interconnected system. Integrated financial planning takes a holistic approach to how each component is set into the context of your situation and affects other areas of your finances.

You may have one person who prepares your taxes, another who manages investments, a third who sells life insurance, and a fourth who drafts …

When It Rains…

Jul 13 2018

The other night I was awoken by a pretty severe thunderstorm. Bright lightning and heavy rains lasted throughout the night. By daybreak, it had rained nearly three inches in the span of six hours.

Naturally, I thought, “time for an article.”

The heavy rain made me think about what would happen in the event of a flood. The reason why is that most home insurance policies specifically exclude damage from flooding. That is, if water seeps into a basement from heavy rains and damages the area, homeowner’s insurance would not apply. A specific flood insurance policy is needed.

However, flood …