The challenge is to create a spending strategy that allows individuals to optimize spending over an uncertain time frame without depleting a portfolio.
Every situation is different, but some objective measures can be used as a snapshot and tracked over time to measure progress.
Between all the holiday parties and batches of eggnog, there are some financial tasks to check off your list before Dec. 31.
The estimated median household savings of retirees is $75,000. About 9% do not have any savings, 31% have savings of less than $50,000, and only 38% have savings of $100,000 or more.
While there are substantial benefits to electronic trading, there are ethical concerns.
As a long-term investor, I like the fact that the earnings on my money will not be taxed when withdrawn.
While not every purchase will bring great happiness, five principles of money will help answer, “Am I getting the biggest bang for my buck?”
As I read and learned more about handling money and finances, I was able to see how my actions undermined my long-term goals, and I was able to make changes.
My clients and I spend a lot of time working on the balancing act of spending enough while they are healthy vs. saving for the possibility of living longer.
Everyone needs a financial plan, but not everyone needs a financial adviser. At times, it is OK to go it alone, and other times you could benefit from sound advice from a fiduciary adviser.
How can you manage money disagreements and keep your relationship on track?
People mistakenly believe a large windfall will solve their problems, but if they are not prepared, it can have a dark side.
I know from experience, it is much harder to make smart choices in an emergency or crisis.
behaviors gained to help live a healthier life can also be used to improve financial health.
Sort through and prioritize multiple requests you might receive to make sure your money is going where it will make the most impact.
It is so easy to get caught up in the hunt and forget why an item you didn’t know existed 20 minutes before now feels like a necessary purchase.
We so often look at the world and our personal situation and see what’s wrong or what’s missing. Gratitude is an ongoing action, a state of being or a way of life.
Learn about elder abuse and be proactive in financially protecting loved ones.
Risk tolerance, risk capacity and risk perception are the fundamental elements of your risk profile. The best way to construct your portfolio and ensure you can hang on for the whole ride is when you evaluate and discuss these risk elements individually and not as a composite assessment.