Archive - July 2017

1
Should Adult Children Pay Rent?
2
How to Plan for Retirement
3
How the Financial Planning Process Creates Change

Should Adult Children Pay Rent?

What does financial independence look like? This can be a tricky question when adult children are employed but still not earning enough to finance their own lives. If you can sit down and discuss the matter before the child has moved back in, you are ahead of the curve. Some parents find themselves having this discussion after their adult child has been home for a while—that can be awkward but better late than never.

In an article that argues for parents not to charge adult children rent, one writer acknowledges that both she and her mother had tight budgets …

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How to Plan for Retirement

Most families have not planned for their retirement. They may save toward their retirement, but without a plan their saving is random and haphazard. Retirement decisions today can only be made in the context of accurate math projections that span decades. Saving what you can and hoping for the best is an expensive and dangerous approach.

Every seven years you delay can cut your retirement assets in half. That means that if you under fund your retirement for the next seven years you will have to save double what you should have saved in the following 7 years in order …

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How the Financial Planning Process Creates Change

How the Financial Planning Process Creates Change

Our blog exchange continues and this month we have a blog from Rich Feight, CFP®, EA.

As the financial planning industry transitions into a Fiduciary standard of advice for retirement accounts the financial planning process will become more and more important. It’s important to understand that it’s a process and not a transaction. In other words, financial planning is something you enter into with a desired goal, and come out of the other side with expectations of meeting those goals. Of course, like any good process, it’s something you constantly must update and …

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