In the article Common Risks That Can Ruin Your Retirement, Investopedia asks Kristi Sullivan about the “unforeseen needs of family members.” Kristi’s Advice “Bailing your adult kids out of their repeated financial mistakes can derail your retirement. For some people it’s like taking an unexpected cruise every year with all of the expense and…
In my chosen career of “killer of hopes and dreams,” I’ve had many conversations about the pitfalls of owning a second home. Here are some thoughts from a 2015 blog. Consider this before you buy a second home. People must be feeling good about the economy because second home ownership is on the rise…
For clients who have most of their net worth tied up in their homes, finding a way to use that equity to pay bills is a must. If you are feeling your retirement income is too tight and you meet the eligibility requirements, using your home equity through a home equity conversion mortgage may be…
High school graduation is here and many parents are worried about how to pay for college. Here’s a recycled, yet timely, blog about covering those college expenses. Wait! Before you write that check…. First, let’s talk about what a parent is NOT to do. Please do not stop saving for retirement, or worse, take…
What you really need to do with your tax refund. Money Magazine recently asked me the best way someone should spend their tax refund. I immediately told them that they should go out and buy a new TV. Oh, come on! You know me better than that. Here’s what I really said. Whether…
Time has gotten away from me and my blog content is due to Catherine, my amazing social media whiz (www.socialseedmarketing.com). So, I’m taking a page from Dear Abby and re-running some old blogs this month in hopes that you forgot them and they seem new to you again! Sound Advice. In the…
How much is enough? According to some financial planning experts, you will need to save enough [in your retirement account] so that your retirement income is in the range of 70% to 80% of your pre-retirement income. You will need a higher percentage if you plan to improve your standard of living. If you…
Darned if we do, darned if we don’t. I had a hilarious conversation with a client who recently relocated to Arizona to be closer to her kids and grandchildren. She is still working at a job she loves, but thinking of retiring soon. She said to me, “I feel guilty when I’m playing with…
Do you have emergency cash? Building up emergency cash can be an uphill battle. So why not use that tax refund? That was my advice when asked by OAN (One America News Network) about replenishing funds that you might have used for something else during the year. “Now is actually an ideal…
Got your tax refund? Let’s go crazy! Shoot. You know me better than that. The average US tax refund was $2,800 in 2016. What to do with that mad money? Here are some ideas, in order, from your friendly financial planner: Pay off credit card debt if you have it. Create or…
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