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2021 Is Halfway Over: How to Conduct a Mid-Year Financial Checkup

July 6, 2021/in Behavioral Finance, Budgeting, Financial Planning, Investments, Retirement Planning, Tax Management /by admin

Summer is finally in full swing, meaning we’re already about halfway through 2021. After a year like no other, we’re all excited to enjoy the warm weather with friends and family. If you have some time over the coming weeks, take a moment to slow down and check up on your financial wellbeing.

Here are six things you can do right away to make sure your goals are being met and your finances are in good shape before heading into the second half of 2021.

5 Ways to Find Your Financial Independence This Year

July 3, 2021/in Budgeting, Financial Planning, Investments /by admin

The Fourth of July is an exciting holiday that marks the independence of our nation with the signing of the Declaration of Independence. As you celebrate with hot dogs, fireworks and pool parties this year, consider this: 2021 could be your year to start finding financial freedom of your own.

Achieving financial independence is a goal that almost everyone has. It brings you the personal freedom to do what you want. For most Americans, however, debt is a significant roadblock. In fact, the average adult has around $90,460 in debt.¹ This includes all types of consumer debt such as credit cards, personal loans, student loans, mortgages and auto loans.

The good news is, there are strategies to pay down debt and work toward financial independence. How can you do this? Here are five actionable ways to start working towards more financial freedom this year.

Understanding Inflation: What Investors Need to Know

June 29, 2021/in Financial Planning, Investments /by admin

Following a year of economic instability, it appears that many of us are turning our attention to something that’s been around for decades, but has recently piqued national interest – inflation. In fact, a recent study found that people are Googling the word “inflation” at a rapid rate, with a peak not seen since 2008.¹

Since the start of the COVID-19 pandemic, six major stimulus bills totaling around $5.3 trillion have passed. With these efforts to alleviate pandemic-fueled financial strife, are inflation levels being impacted?

Fed Chair Jerome Powell has said that inflation is likely to pick up as the economy recovers from the pandemic, but he believes it will be temporary. Powell has also stated that the central bank plans to keep short-term rates anchored near zero through 2023.²

As you consider any potential changes to inflation we may be seeing this year, here’s a reminder about what inflation is and how it can affect you and your investments.

7 Tips For Protecting Your Assets Throughout a Divorce

May 10, 2021/in Budgeting, Divorce, Estate Planning, Financial Planning, Investments, Retirement Planning, Tax Management /by admin

Divorce is emotional, and financial protection may not always be top of mind. But being cautious and prepared early on can help prevent financial stress later down the line. If you’re amidst a divorce or considering the process, keep these seven tips in mind.

Cryptocurrency? 3 Things You Need to Know

April 29, 2021/in Investments, Cryptocurrency /by admin

Cryptocurrency is making headlines and it seems like everyone is diving into this new market.

But what exactly are they diving into? And, more important, should you join them?

I made a 2-minute video discussing the top three things you need to know before you decide whether to jump in or sit this one out.

Spooky! Phantom Stock for Company Execs: What is it?

March 15, 2021/in Financial Planning, Executive Compensation, Investments /by admin

As a high-level executive, your company recognizes your valuable contribution to progress and growth. In response, your compensation package looks a little different – and often more complicated – than lower-level employees. Equity compensation, such as stock options, is a common offering for executives, directors and managers. But the type of equity compensation offered may differ. If your company is offering you a phantom stock plan, or shadow stock, here’s what you need to know.

3 Reasons why hiring a fee-only financial advisor should be important to you.

March 11, 2021/in Financial Planning, Investments /by admin

Choosing a financial advisor is an incredibly important task, I know. After 15 years of helping clients make this decision, I can sympathize with you. There’s the endless phone calls, meetings, data gathering, and other time-consuming tasks.

Add in a pandemic, market volatility, and life in general, it’s easy to see why you may be paralyzed by decisions like this.

That’s why I created the Emerging Millionaire Method™ – to make these decisions and the financial planning process so much simpler for you.

Personally, it wasn’t an easy decision for me to leave the safety and security of a well-know financial services firm to launch my own Registered Investment Advisory practice. But, after months of agonizing over the decision and speaking with trusted clients, friends, family, and colleagues, I did. Because your financial well-being matters to me.

This is not just fluff, but I firmly believe in my heart of hearts, that I am in a better position now to give you the service and financial advice you deserve.

I hope you can sense the passion I have for helping and working with people like you.

To that end, I made a quick video discussing three things you need to know to before you choose whom to work with and how to work with them.

I hope you will take a couple of minutes to watch. I believe it will save you some serious headaches and money.

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You’ve Been Told Owning a Home Is Better (Financially) Than Renting. But Is That True For Everybody?

March 11, 2021/in Behavioral Finance, Budgeting, Financial Planning, Investments /by admin

Buying a home is one of the biggest financial decisions that you will make in adulthood and for many people, this may be seen as a part of the “American Dream.” While it can feel good to own something rather than rent, it’s not for everybody and can come with costs and limitations.

If you’re having a hard time deciding which option is best for you, consider the pros and cons of owning a home versus renting.

Active vs. Passive Investing: Here’s what you need to know

March 2, 2021/in Investments /by admin

Even with the onset of COVID-19, major online brokers saw new accounts grow as much as 170 percent in the first quarter of 2020.¹ For investors, whether working with an advisor or taking a DIY approach, it’s important to understand the fundamental differences between two common investing practices – active and passive.

With Tax Law Changes Coming, A Mega “Backdoor” Roth IRA Contribution Could Come in Handy. Here’s How it Works.

February 12, 2021/in Financial Planning, Investments, IRA, Tax Management /by admin

Reaching retirement is exciting, but having enough to maximize your quality of life during retirement is key. You’ve likely heard of a backdoor Roth IRA, but for some looking to maximize their withdrawals in retirement, a mega backdoor Roth IRA may be the way to go.

What is a mega backdoor Roth IRA? Below we’re breaking down what you need to know about this retirement savings strategy.