As a financial advisor, I’m often asked: “Are student loans a wise investment in my future…or a bad idea?” Let me offer some facts, an example, an update, and some advice. Some facts: What does all that borrowing cost? Current interest rates on federal loans range from 4.99%-7.54%. Private loan rates range from just under …
Student Loans: Smart Investment … or Big Mistake? Read More »
Someone recently asked, “If I’m already retirement age, is it too late—and too pricey—to consider long-term care insurance? What I thought was, “It depends. How lucky do you feel?” What I said was, “I recommend you plan like a pessimist so you can live like an optimist.” Here’s why I answered that way: When we …
When is It Too Late to Buy Long-Term Care Insurance? Read More »
Visit a small town coffeeshop one morning this week. Listen in on the conversation. It won’t be long before someone starts grousing about financial institutions. “Can you believe we’re bailing out banks AGAIN? Why are we giving money to a bunch of billionaire bankers! You ask me…I’m ready to do away with ALL financial institutions!” …
As a financial advisor, I hear these complaints all the time: All of these comments reflect a faulty mindset. They are looking at the “savings problem” from the wrong end of things. You see, it’s all but impossible to cut back when you see everything you buy as “essential.” You can waste a lot of …
Don’t Confuse Symbolism with Substance When Trying to Save Money Read More »
If you had invested $100 in an S&P 500 index fund on January 1, 2020, it would have been worth… Which raises the question: Is this kind of volatility normal? Maybe we need to define “normal.” One wag has suggested that the only normal people are the ones you don’t know very well yet. The …
I get this sort of question often: “A friend introduced me to a very nice Christian man who is recommending I put my money into some kind of annuity or bonds or something like that. I’m not a stock market person. I don’t understand finances, but I really like this young man. He seems so …
When people find out I’m a financial planner, they: (a) ask a lot of fiscal questions; and (b) make a lot of money confessions. One admission I hear a lot? “I’m constantly stressed about money!” Maybe you can relate? (Especially in the current economic climate.) If so, let me give you two reminders and five …
At exit 332, the Millers and Jacksons find themselves in a “culinary crisis.” They have multiple dining options, but they can’t agree on where to eat. Margie Miller is feeling adventurous—she’d really like a cauliflower taco and a fish taco from a food truck with stellar Google Reviews. Her best friend Amanda thinks the truck …
What Food Trucks and Retirement Income Plan Have in Common Read More »
Most people I know have taken at least one of these famous “personality tests”: It could be that you’re a “high D” or an INTJ or an Enneagram 3. Whatever the case, these assorted assessments (and all the others like them) are a fascinating reminder of just how differently we’re wired. And it’s not just …
An exasperated client told me,“My wife keeps saying we need to get our wills updated. I tell her, “Why? We already have wills, which is more than most folks can say. We’ve covered all the big stuff! Why fuss over the details?” There’s a lot to like about the mindset that says, “Don’t sweat the …
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