There are two super powerful things you can do to better understand your needs and desires out of life: define a long-term vision for you and your family, and define the values that you use to direct your day-to-day decisions.
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We already dissected the vow “in sickness and in health.” Let us turn to the financial aspect of marriage: for richer, for poorer. Money fights are the second-leading cause of divorce. Let’s dive into why money is such a heated topic and how to communicate about money more effectively as a married couple.
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Once you have decided on an asset mix that is properly diversified, it is time to explore an overlooked aspect of investing: the companies in which you are actually invested. This is where values-based investing comes into play.
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As we reflect on this US holiday of independence, what does financial independence mean to you? Many people think retirement and financial independence are synonymous, but differences exist.
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Do you ever feel like you’re stuck in a financial rut? You’re not alone. According to a new analysis by The Ascent, a division of The Motley Fool, almost half of Americans want to be financially prepared for the future but 97% aren't making time to do so.
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Are you or one of your kids a fan of superheroes? My youngest son loves Spiderman the most. Every superhero has an origin story, sharing how they gained their powers and decided to fight crime.
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It is within the physiological needs that “wants” actually emerge. You need a roof over your head, but you want a spacious house with top-of-the line appliances, renovated bathrooms, and a finished basement. Even if that house is within your financial reach, you must recognize that it is a want, not a need.
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Dr. Elizabeth Dunn, an associate professor of psychology and co-author of Happy Money, studies the relationship between money and happiness. She finds that happiness levels remain steady once annual household income reaches $75,000 or more. Her research further indicates that you are better off spending money on experiences rather than material items.
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You are in the driver’s seat.
You get to decide which attitudes and beliefs about money stay, and which ones go.
Your daily habits strongly influence goal achievement or failure.
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Learning to manage finances in a healthy way is an essential part of adult life. Yet, many children learn little to nothing about money in school growing up. This is why it's so important that parents take the time to teach their kids valuable money habits that will stick with them throughout their lives.
Attending the funeral mass really got me thinking about life and death. We all know we will die someday, but we don’t know when. Without getting too morbid or philosophical, let’s focus on a tangible financial question related to the circle of life: How do you live life to the fullest while saving for the future?
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I’ve been pretty clear over the last year that my focus is helping parents build wealth in alignment with personal and spiritual values, but that is still pretty abstract. This article explains how to actually build wealth without compromising your values.
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Whatever your personal finance journey, there are going to be times in your life when you make a mistake. You chose one path and it doesn’t turn out the way you hoped. Learn from my biggest three financial missteps.
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Given the pandemic that we continue to face, your underlying question may be this:
Is goal setting still relevant?
Undoubtedly, the answer is YES. If we do not have a roadmap for where we are going or where we feel God is leading us, we may become aimless and unmotivated.
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What is “enough” in financial terms? Is it a million dollars? $3 million? More?
Clients frequently ask me how much money they need to comfortably retire. Even as a CFP® with over fifteen years of experience, I can never give them a blanket response. There are a variety of quantitative and qualitative factors to consider.
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When we run our home like an all-inclusive resort - where food is magically replenished and broken toys and lost cell phones are replaced - kids cannot learn to value money.
Resorts are a lovely reprieve from the real world but they are not preparation for the real world.
Whether retirement is near or far away, you’ve been assured that more savings now generally leads to a bigger nest egg later. You believed that diligence and determination were the keys to building wealth.
So, in today’s uncertain economic environment, what do you do with your employer-sponsored 401(k) or 403(b) plan?
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There are a lot of questions and very few answers. Anyone who tells you they can perfectly predict the future is a liar. We must fumble our way through this confusing maze of information and find a new normal.
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