I love hearing stories from people who have been able to fulfill their dreams by being financially wise and living below their means. Last week, I spoke to a gentleman at the gym who told me a story about something that he and his wife did that I thought was amazing. The reason that they were able to accomplish such an awesome goal is simple – they live below their means.
Do You Know The Differences Between a Financial Planner and a Financial Salesperson?
4 minute read
I’m a financial planner, but that may not mean what you think. Typically, when I tell people that I’m a financial planner the idea that they have in their mind is that I buy and sell stocks and bonds for their investment portfolio. If that’s not what they think, then they think that I have some product to sell them. Although the company that I work for, Market Street Wealth Management Advisors, does manage clients’ investment portfolios, neither of those things is what I do. Unfortunately, the terms “financial planner”, “financial advisor”, “investment advisor”, or any other iteration, are not protected and clearly defined so that the public actually understands what they mean and their differences.
Why Should We Invest for Retirement in the First Place?
5 minute read
Why do we need to invest our money for retirement? Why not just stockpile it into a savings account where it feels safe? The stock market is risky, right?
What’s the Best Way to Pay Off Debt?
3 minute read
Some people absolutely hate the debt that they have and want to get rid of it as soon as possible. Some people (dangerously) have no clue how much debt they have and would rather pretend that it’s not there than to be proactive and do something about it. If you’re one of those people who want to get rid of your debt, then what’s the right way to go about doing so? Do you pay down the highest balance first or the debt with the highest interest rate first? Should you actually be paying down your debt more aggressively than required?
The Millennial Mentality
2 minute read
The other day, I saw a comment on a Facebook post by a person born into Generation X (born 1966-1976) talking about the “Millennial mentality” and how the generation demonstrates an air of entitlement and lack of respect for authority. This was only a couple of days after I read a J.D. Power report titled Millennials are Better Prepared for Retirement than Their Parents, J.D. Power Finds.
Using the Dependent Care FSA to Save Money on Child Care Expenses
2 minute read
Raising a kid is expensive. Really expensive. According to a United States Department of Agriculture study published in 2017, it would cost an average of $233,610 to raise a child born into a middle-income family in 2015 through age 17. That’s a lot of money.
Can money buy happiness? It depends on what you do with your money.
2 minute read
XY Planning Network published an article this week titled Can Money Buy Happiness? Maybe Says Elizabeth Dunn which made me think of a couple of similar conversations that I had this week. One of those conversations was with a friend who is my age and one was with a gentleman at the gym who I talk to most days of the week and who is about my father’s age.
The 35-Year-Old with Almost 3X Salary Saved
3 minute read
In my opinion, there’s a lot to be said for living a simple life. I see a lot of value in a life where you don’t feel the need to get caught up in all of the latest trends, to compare yourself to others, or to spend money to impress others.
Apparently young people don’t want to hear about saving for retirement
3 minute read
Last week, Alessandra Malito published an article for MarketWatch titled Money Milestones: This is how your finances should look in your 30s which caused an uproar among millennials on Twitter.
An Easy Way to Save Money on Insurance
2 minute read
Insurance. It’s the necessary evil, right? Hopefully, we never have to use it.