The Master’s Minute

Helpful Tools and Tips

The Master’s Minute – Maxed Out Your Retirement Account? Here Is What You Should Do Next!

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High earning professionals talk to their financial planner about their maxed out retirement accounts.

For most high-income professionals, the first step in a long-term savings strategy is to fund an employer-sponsored retirement account (such as a 401K or SIMPLE IRA).  There are several ways that you can position the income you have earmarked for retirement savings, often in accounts that have tax advantages, such as Traditional and Roth IRAs, but there are other options as well.   Each of these options offers unique benefits… Read More

The Master’s Minute – What Are Wealth Advisors?

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Couple discussing what are wealth advisors with a professional.

A wealth advisor is your financial architect—someone who understands your vision, creates a personalized financial “blueprint,” and brings in the right professionals to help you build a strong financial structure.   Think of your financial life like building a custom home. You wouldn’t start pouring concrete or picking out countertops without a blueprint.   In today’s blog, we will clear up a few very common misconceptions about financial advisors, explain… Read More

The Master’s Minute – Regular Investment Analysis and You

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Couple with their financial advisor talking about investment analysis, smiling.

Your portfolio may seem to be running at peak efficiency, but how do you know for sure? Regular investment analysis is an essential piece of the puzzle. Personal financial planning, or business planning, will always be the primary focus of our relationship with you. Does that make our investment management unimportant? Certainly not! Perhaps you can think of it this way: financial planning is “the vehicle” that gets you where… Read More

The Master’s Minute – Cash Reserves: The Reasons for Liquidity

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Master's Wealth Management logo over a stack of 100 dollar bills.

For any business owner, cash flow is always a topic that is top of mind. Between managing inventory, accounts receivable, and lines of credit, the old adage stays true “cash is king!”   One of the challenges faced by business owners is how to balance the cash needs of the business with their personal financial goals, including cash reserves.   A well-run, privately held business is likely the best investment available to… Read More

The Master’s Minute – Understanding Market Corrections: A Normal and Necessary Part of Investing

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image of stock market ticker with red and green characters and the words "market correction" in white.

Between February 19 and March 13 of this year, the S&P 500 index declined by 10%. This was the first 10% pullback since August to October of 2023. When stock markets decline by 10% or more from their recent highs, especially when it has been nearly a year and a half since the last occurrence, many investors become anxious. However, these corrections are not only normal but also a healthy… Read More

The Master’s Minute – It’s Time for a Family Meeting!

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Older adults talk to their adult children during a family meeting regarding financial health.

Several weeks from now, Colleen and I will host our children and their spouses for our inaugural Family Financial Meeting. We feel it is the right time to start this valuable practice!   They are all in the 30-40 age bracket, making wise financial decisions, and living lives consistent with our faith and values. During this time together, we will share our financial story, talk about God’s faithfulness, and the… Read More

Proudly Announcing our Future Home

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We are excited to announce that, following a building renovation, Master’s Wealth Management will be moving to a new location at 1415 Oregon Rd, Leola, PA 17540. Our anticipated move date is late 2025 or early 2026, based on our current timeline for renovations. We have been happy to call Urban Place in Lancaster our home since 2010 but have been searching for a place to make our own. We… Read More

The Master’s Minute: Lemonade and Smart Money Management

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Glasses of lemonade sitting in the morning sun.

There is an old saying, “when life gives you lemons, make lemonade!” The problem with that old adage? Making lemonade from lemons requires more ingredients than wishful thinking. Recently, Lyle wrote a blog post highlighting a client’s experience dealing with an unexpected job loss and how, through this stressful time, he ended up finding something more fulfilling. In the blog, Lyle wrote one sentence that stood out to me: “At… Read More

The Master’s Minute – Navigating Adversity: A Journey of Reflection and Renewal

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Couple approaching retirement smile together, they faced adversity well.

Adversity looks different to many of us, from a lost job or new career path to health issues and natural disasters that impact our business or family. What the term holds in common for all of us, though, is that we will face situations that are difficult to resolve. I recently met with a couple reflecting on their journey. About eight years ago, the husband unexpectedly lost his well-paying corporate… Read More

The Master’s Minute – The Why & How of Modeling Financial Habits for Kids

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Couple showing their child good financial habits, using a pink piggy bank.

Recently, my child, a high school freshman, started a personal finance class at school. As a parent, I’m thankful she has the opportunity to increase her financial literacy in a structured way. Although, it reminds me that many financial lessons are learned through the course of daily life. Some adults have not been taught financial literacy, and for them, those lessons can often be learned the hard way. Why We… Read More