Monthly Archives: July 2015


28

Jul 2015

Take Action on Your Estate of Affairs

It can be overwhelming to lose a loved one, and part of the stress comes from worrying about financial and legal affairs. A good financial plan reduces those fears so that you can focus on family. Take the time to sit down with your significant other and address legal, tax, and financial issues, should something happen to one or both of you. Once you have...

Read More


28

Jul 2015

Retirement Big Risk: Living Too Long

A number of years ago, I saw a report in USA Today that listed what Americans fear most—such as fear of flying, of spiders, of divorce, and so on. The number-one fear, by far, was outliving their money. No one is really concerned about living too long, but a great many are concerned about outliving their money. As more and more people live longer, active,...

Read More


27

Jul 2015

The Effect of Values on Your Financial Plan

It took me years to figure out what was really important to provide to clients. After I graduated from West Point and served our nation as an army infantry officer, I worked for an international financial planning firm that did planning for members of the military. That’s when I was introduced to values-based financial planning. We developed a “financial road map” to define deeply held...

Read More


27

Jul 2015

Retirement Big Risk: Improper Tax Planning

Before you receive your pay, you have deductions for federal taxes, Social Security, Medicare, state and local taxes, workers’ compensation, and more, depending on your particular situation. And then we pay sales taxes, property taxes, and those taxes and fees on your cell phone bill, on your cable bill, on your water bill, on your gas bill, on your electric bill. A myriad of levies...

Read More


22

Jul 2015

One Strategy Your Retirement Depends On

“Pay yourself first” is my core belief for financial success. It is not selfish. It is selfless. The more you can save and invest and grow your resources, the more capacity you will have to give back. Ask yourself how you rate on your own payroll. You should be at the top. Before spending on lifestyle, paying bills, and other obligations, you need to put...

Read More


21

Jul 2015

Do You Know Enough About Comprehensive Financial Planning?

My daughter was nearing graduation at the University of Portland and was concerned that she and her classmates didn’t know enough about finances. She asked me to speak to her class about —loans, loan consolidation, and interest rates—“and how do I make sure that I am successful financially?” Of course, I agreed. I presented a 90-minute talk, followed by about an hour of questions and...

Read More


20

Jul 2015

The Five Key Financial Disciplines

Quick, before you read any further can you name the five financial disciplines? Ok, now see how many you got right. To effectively manage your finances, you need to keep in mind and coordinate the five key disciplines. Risk Management Wealth Management Financial Planning Tax Planning Legal Planning Most people are in the dark when it comes to naming these five principles, and they also...

Read More


17

Jul 2015

Retirement Big Risk: Dying too Soon

Throughout our lives there are risks and unforeseen events that arise. But, if you are aware of the possible risks and can plan for some of the unforeseen events, you will be prepared to weather the storm. One of THE 6 BIG RISKS® that every good financial plan should address, is dying too soon. This is a tough topic because it is emotional and often...

Read More


16

Jul 2015

Avoid the Debt Trap

It’s important to understand the difference in types of debt. Some is constructive and some is destructive. An example of constructive debt is a home mortgage. Rarely can people save enough money to pay cash for a home, and it’s perhaps unrealistic to expect to do so. By contrast, destructive debt is the kind that drains assets through interest charges, such as the onerous charges...

Read More


14

Jul 2015

The Cost of Procrastination

Time is your number one ally—or your number one enemy. Consider the cost of procrastination, for example. Let’s say you invest $458.33 per month. That’s a total of $5,500 a year, the amount someone under the age of 50 can currently contribute to an IRA each year. Let’s also assume a 10 percent rate of return—a bit high, given recent markets, but a common assumption...

Read More


07

Jul 2015

Your Ideal Life Tip: Investment Basics

“I skate to where the puck is going, not to where it has been.” –Wayne Gretzky The fundamental problem with chasing market performance is that by the time you recognize that a particular investment has been doing well you likely will be too late to participate in the gain. It’s more likely that you will buy too high, and you could be in for a...

Read More