financial advice

Hamza Butt / Flickr.com https://tinyurl.com/y8zjkqpr

Have you ever read or heard that on average you’re going to need 70% of your working income in retirement.

Be careful when mixing averages and real life. If I put one foot in a bucket of ice and the other foot on a hot stove, on average, I’m comfortable. But in real life…

There are four things you need for a financially and emotionally (yes the two are linked) healthy retirement:

houston, i am the problem / Flickr.com https://tinyurl.com/ybmqehvm

If you find that you and your spouse argue a lot about money, the good news is that you aren’t unique. Approximately half of all divorces can be traced to money problems.

I am crazy in love with the woman I married thirty-two years ago. But, hooo-weee have we had some knock-down, drag-out fights. (OK, for the record, she has never knocked me down or dragged me out. That was just a figure of speech.)

Financial Organization

Sep 7, 2017
Jen Kim / Flickr.com https://tinyurl.com/yc778sa7

Ever wonder where to start when that nagging feeling hits you that say, “I’ve GOT to get financially organized!”

Let’s not do this: straighten up all the unopened bank statements and investment account reports on your desk and call that financial organization.

That’s just making your mess look neater.

For something to be organized, it has be ordered, structured toward some purpose and well thought out. To do that, you’ve got to know what you have, where it is, why you have it and contact information for each separate service provider.

Time to Invest?

Aug 30, 2017
Sam Valadi / Flickr.com https://tinyurl.com/y87j2d4q

As I am recording this, the Dow Jones Industrial Average stands at about 21,500. Higher than it’s ever been.

Is this good news or bad? The answer, of course, is yes…good news for the person who has been invested in the markets for the past five years. Five years ago the market was about 15,000. Not so good news for the person now wishing they’d gotten in “early.”

Unfortunately, that train has left the station.

Kurt Bauschardt / Flickr.com http://tinyurl.com/mqzomkr

We love it when things are convenient.

There’s a new car wash place that has opened up in my town. They say I can just drive through, never get out of my car and have a clean ride in just four minutes. I think I’ll give it a try. I mean, four minutes and never get out of the car – that’s convenient. And if it’s still dirty after I give it a try, I guess I’ll go someplace else and get it done. No big deal.

But convenience has its limits.

Johannes Jander / Flickr.com http://tinyurl.com/lr3hdpl

So you want to start a family soon.

Both of you work now, but you’re considering the possibility of Mom being able to stay home once the family starts. Interestingly enough, the research is showing that more and more Millennials are making this choice - even more so than their parents did.

Even if this isn’t the choice all of your friends are making, let’s say this is what YOU really want to do. Can you do it?

Answer: Well one thing’s for sure – you can’t … and be like your friends.

When Better is Worse

Apr 5, 2017
photosteve101 / Flickr.com http://tinyurl.com/ljgvuvr

Here’s a recent headline from the Wall Street Journal – Individuals Tiptoe further into long running stock rally.

Is that you? Maybe you’ve done very well in your 401K this year. But you’ve also got that money in your savings account you put back for a rainy day. And it’s just sitting there.

It’s my emergency fund, but it’s earning next to nothing. Maybe that’s an emergency! Shouldn’t I find something more productive to do with that money? Maybe one of those growth and income fund?

OK Stop!

What kind of car do you drive?

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