Author - Forrest Baumhover

1
5 College Planning Questions You Should Ask Yourself
2
My Term Life Insurance Policy Experience
3
Ten Questions With Spencer Baker
4
Does Your Financial Plan Pass the Sleep Test?
5
What is the Fiduciary Standard and Why Do I Care?

5 College Planning Questions You Should Ask Yourself

For many families, college planning consists of:

  • Saving as much for college as we can
  • Hoping it’s enough money to meet our children’s college goals
  • Waiting until high school to learn that it probably isn’t enough

While this might be oversimplifying the process, it does seem that a lot of families treat college planning like a ‘save first, plan later’ process.  There are a couple of concerns with this approach, which don’t normally manifest themselves until later in the planning process.  By this point, it’s too late.

What if there was another approach?  What if your college planning started much …

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My Term Life Insurance Policy Experience

Disclaimer

Sorry, but before I talk about my life insurance experience, I must disclose a couple of things.  I’m a fee-only financial planner.  My firm, Westchase Financial Planning, is a Florida-based registered investment advisory firm.  You can look up my registration document (also known as an ADV) here.  I do not have an insurance license, and cannot provide specific advice regarding insurance policies.  My clients receive unbiased advice based upon my analysis of their particular situation.  However, if I make a recommendation regarding insurance coverage, I must refer that client to a licensed insurance agent in order to implement …

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Ten Questions With Spencer Baker

Spencer Baker

Spencer Baker, Founder of Great Life, Tampa Bay

A couple of weeks ago, I asked the Military In Transition Facebook Group whether it would be worthwhile to read articles based upon other peoples’ experiences.  It seemed that the overwhelming response was in line with my thinking.  After talking with a lot of people about their retirement story, I realized that each conversation gave me a little bit of perspective about my own story.  This inspired me to start an article series to share the stories of some of the people I’ve talked with.  I hope that reading these stories puts …

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Does Your Financial Plan Pass the Sleep Test?

SleepWith the exception of my wife, my grandmother is the most inspiring person I’ve ever known. I don’t know where I would be today without her. Although we didn’t always see eye to eye, especially on financial matters, I learned an extremely valuable investing lesson from her.

Members of the Greatest Generation, my grandparents came of age during the Depression, a period marked by severe distrust of financial institutions and an extreme aversion to risk. After my grandfather died, my grandmother had to manage her finances for the rest of her life, 28 more years. The way she handled her …

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What is the Fiduciary Standard and Why Do I Care?

The Department of Labor is expected to issue its long-awaited fiduciary rule, which means that advisers who provide investment advice for retirement accounts and IRAs will now be subject to the fiduciary standard.  Which begs the questions:  “What is a fiduciary, and what does this mean when I’m looking for a financial adviser?”

As you might note, most of my articles are aimed for people who are looking to help themselves–‘how-to’s’ of sorts.  This article is aimed at people who believe they need to hire someone to help them with their financial planning needs.  This doesn’t purport to advise whether …

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