There’s no such things as a free lunch. If someone tells you that you’re getting something for free, then think again. They’re getting something out of it whether it’s monetary value or non-monetary value. I can’t think of a situation in which you should believe that a financial services professional is giving you something for free. Even if they simply buy you lunch, it’s because they want to get to know you better or they want you to become a client or some other reason. In exchange for a “free” lunch you gave them your time, energy, and conversation. That’s not free.
Daylight Saving(s) Time
3 minute read
This weekend, we sprang forward an hour in an attempt to have more daylight during the hours that most people are awake and active, However, as my friend Cody pointed out, some people seem to be having difficulty getting the name right. (Don’t worry about his Twitter name. I have no idea what it means, either.)
Work Together
3 minute read
I think that financial planning should be seen as a team sport rather than an individual sport. It’s less like swimming or running or bicycling and more like basketball (the best sport – you can quit reading now if you disagree). Yes, you can have a superstar like Michael Jordan or LeBron James who can do a ton and maybe even carry the team to the championship, but ultimately you need a team that works together towards achieving a common goal to make all of the right plays and all of the right moves at the right times to be successful. A superstar can do amazing things on the court, but they can’t even shoot the ball without someone there to pass it to them from out-of-bounds.
One of The Biggest Holes In Your Financial Life
4 minute read
Once you have a solid financial foundation in place, it’s time to move on to begin tackling more detailed financial matters and start painting a more complete financial picture. A lack of estate planning documents is a hole that most people have in their financial plan. These are the things that no one really wants to think about, which makes it easy to push them off and say, “I’ll get to it.”
What’s Next?
2 minute read
Building your personal finances is sort of like building a house; without a strong foundation in place either is likely to crumbled when a storm comes along. Once a solid financial foundation is set, what are some other things that you can work on to further build out your financial house? No one wants a plain, bare house, right?
Start Simple
3 minute read
Many people don’t do something that they perceive as being difficult because they feel like they don’t know enough about it and have no idea where to start, feel intimidated and/or embarrassed, or just don’t like change. Whether it’s starting a new diet, beginning to exercise, or searching for a new job or career, too often people are content with the status quo because change is overwhelming and they don’t want to have to do something uncomfortable. This is often the case with personal finances.
Saving When You Receive A Large Employer Contribution
3 minute read
Many of us who are employees of a business receive a matching contribution to our retirement plan that ends up being equal to around 3% of our pay. However, there are some people who are fortunate enough to have their employers contribute a much larger percentage of their income to their retirement account without the employee having to contribute anything. If you receive a large contribution to your retirement account without having to contribute anything yourself, should you still save your own money for retirement?
A Little Late
3 minute read
I’m a terrible blogger. Valentine’s Day has come and gone, and I didn’t even write a stereotypical V-Day money post. So, here it is. Most people probably aren’t in love with their current financial situation, but most people also aren’t proactive about doing anything to make it better. Working towards a financial state that you love doesn’t have to be too difficult, but it does require making positive decisions on a consistent basis. And that can be hard for some people.
I Forgot
2 minute read
I completely forgot to write a blog post on Monday and I didn’t realize until Tuesday afternoon that I hadn’t posted anything about my blog earlier that morning, which is when I typically share. Once I realized that I hadn’t written and posted a blog I thought about it all day, but I just didn’t have any time at all to sit down and dedicate to getting it done. When I got home Tuesday evening I knew I wasn’t going to have time to get to it, so I just let it go. In the end, missing one blog post won’t have an impact on my life just like making one bad financial decision won’t ruin yours.
What My Parents Taught Me About Finances
3 minute read
Growing up, I never thought my parents were very good with money. Sometimes they had to “borrow” money from me when I was in high school to help pay some of the bills (I think that’s usually called rent), but I realize now that a lot of that was probably because they were spending more than they should have on my sister and me for things that we wanted but didn’t really need. Really, they just wanted (and still do) the best for us that they could provide, whether that meant taking on debt or running their bank account on a thin margin. My dad is a blue-collar worker and my mom is a severely underpaid teacher – my job offer out of college was for more than either of them made. Whether how they operated their finances was right or wrong, how could they have been good at money? Neither of them ever had a personal finance class in their lives, even though my mom has a master’s degree, and I’m sure neither of their parents ever taught them much about money. However, I now realize the financial lessons that they taught me that I’ve taken for granted.