For your favorite financial advisor (I’m assuming that’s me), the life lessons keep on coming. First, it was parenting. “How hard can it be to keep your kids out of trouble/drugs/therapy?” thought I. “HA hahaahaha,” replied the universe. The latest has been my experience downsizing. I knew I needed to get out of my big…
The Mega-Back-Door Roth 401 (k). Oh, how the government likes to look like they are helping us create our own financial security in the face of a very small social safety net for our country’s ill and elderly. And you know who else loves it? That’s right, the financial news industry! Every time the government…
If you’re age 50 or older, you’ve probably heard of “catch-up contributions.” It’s the IRS saying, “You are making more money, maybe those expensive kids are launched, go ahead and pile on the retirement savings. We’ll let ya.” Up until this year, you could also protect those extra contributions from current income taxes. But, as…
What is the trickiest part of being a financial planner? Is it outsmarting the markets? Knowing the “best” investments to recommend to clients? Figuring out someone’s lost crypto-wallet password? None of the above! At least not for me. The hardest part of financial planning is helping people determine that just-right amount of retirement spending. That…
Health Savings Accounts are fantastic. What other account has triple-tax benefits? Tax-deferred on the way in, tax-free growth, AND tax-free withdrawals when used for qualified medical expenses. Ah, but there is the rub. What can this magical tax-free money pay for? And what obvious medical costs are not reimbursable? Here are examples of surprising things…
Here it is – yet another financial advisor blog shaking its finger at you about not timing the market. Sorry folks, as long as people keep buying high and selling low, you are going to get this message from my BFFs (Best Financial Friends) and me. And for those of you who believe Crypto is…
Yep, we’ve all heard the expression. You may vaguely sense that it’s a caution against jumping out of your investments when headlines are scary – and you are right. But, what does this even mean? Origin Story – Every good superhero needs one. It is thought the expression started in the 1950s to depict a…
Any of my clients know that I am a non-fan of mountain property as an investment. I always encourage season-rentals over the constant financial drag of owning a second home. Especially in a location that is increasingly difficult and expensive to get home owners insurance. Yes, it’s totally disingenuous for me to make these pronouncements. …
A nuance of estate planning that I learned about recently is the complications of transferring guns of a decedent. It’s not like designating your Grammy’s parrot brooch to the most fashionable grandchild. Here to explain more is attorney Chris Hornbaker. Thanks to Chris for answering these basic questions of mine. If You Own Firearms,…
It may sound like something out of Ocean’s 12, but motion detection technology is becoming a quiet safety net for older adults who want to age in place, especially those living alone. These systems use discreet sensors to learn daily patterns and flag changes that might signal a fall, illness, or confusion, allowing families or…
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