I have noticed that people tend to hold me to a very high standard when it comes to spending. As a financial planner, I think most assume that I am super frugal and never spend money. I frequently hear statements like “As a financial planner, you should appreciate…” followed by how they saved money on a purchase. I recently signed up at a new CrossFit Gym in the area, and am now paying just over $100 a month for a membership. The reaction was swift –“You’re paying how much for a GYM MEMBERSHIP? I thought you would be smarter about …Read More
Most homeowners have been solicited by their mortgage company or another financial institution with an offer to convert to biweekly mortgage payments instead of monthly payments. The advantage touted for this strategy is saving a heap of interest over the years and reducing the time required to pay off your mortgage by several years. Clients often ask us whether this is a good idea or not. No, it is not smart; it is a scam.
If that is all you need to know, you're done: go on and read something else. If you want to understand why it's not smart, …Read More
Congratulations! You just got a get-out-of-jail card, you’re shaking that company’s dust off your feet, etc., etc. Unlike most people, you’ve actually managed to save some money in the 401(k) and now you’re wondering what to do with it—leave it parked, or roll it over into an IRA. Double points if you actually understand what it’s invested in currently. So, I’m going to give you 4 reasons to roll it over, and 4 reasons to leave it where it is.
Yes, roll it over if…
- Your current plan has bad choices, and a lot of them do. You may have