I am currently in the midst of studying for the CFP® exam and am scheduled to sit for it in the middle of July. This exam is a 170-question, six-hour exam that carries a historical average fail rate of roughly 40%. Obviously, my goal is to pass this exam. As a result, I began preparing roughly a year and a half ago by enrolling in various courses, making a study… Read More
The Master’s Minute – Risk – Which Way Should I Go?
When we put together an investment model, the primary factor we consider is risk. The amount of potential investment decline one can withstand will determine the mix of investments we use to build the diversified portfolio. When we build a financial plan, we match the risk of the portfolio to the goal it is intended to achieve and, typically, the further out the goal is the more risk you can… Read More
The Master’s Minute – The Value of Receiving Objective Advice
Last week’s video blog by Garry and Lyle emphasized The Value of Advice. During that blog conversation, Garry shared an example of seeking advice from a trusted friend, who genuinely cared about him and had only his best interest in mind. The result of that conversation gave Garry affirmation and confidence to proceed with his financial decision. In today’s blog, I would like to emphasize another essential element to consider… Read More
The Master’s Minute – The Value of Advice
The Master’s Minute – Setting Your Kids Up Well
Clients of Master’s tend to have a similar mind-set when it comes to finances and the future. Many of our clients believe they have accumulated and stewarded assets wisely so they could use God-given resources for God-given goals. As the next generation of investors enters the market, I can only hope that these values are being taught and carried forward. After experiencing many years of various mistakes and victories, parents… Read More
The Master’s Minute – Tax Day 2022 is in the Rearview Mirror
This year’s Tax Day, April 18, 2022, is now in the rearview mirror. Rare is the person who enjoys prepping for the filing of their tax return, much less, writing the checks! I am thankful it only occurs once per year. Sometimes the best way to counteract an unpleasant situation is to add a bit of levity. Here is some tax-time humor for your reading enjoyment. Q – Why didn’t… Read More
The Master’s Minute – Interest Rates on the Move
You are probably aware that interest rates have increased substantially over the last several months. Since the beginning of the year, the 10-year treasury bond yield has increased from 1.52% to 2.85% as of this writing. That’s an 87.5% increase in less than four months. Similarly, 30-year mortgage rates have increased since the beginning of the year from 3.11% to 5.0% as of this writing. That is a 60.7% increase…. Read More
The Master’s Minute – Spring Cleaning Your Finances
We are fortunate to experience the change of seasons in Lancaster County, and the one that is my favorite is the change from winter to spring. The longer, warmer days are a welcomed reprieve, and it is always fun to see the trees and flowers begin to bloom once again. For many of us, spring is also the time of year when we clean up around the house, engaging in… Read More
The Master’s Minute – Adding Up the Small Stuff
As financial advisors, we strive to provide value to our clients in many ways. Most commonly, our value is thought of in terms of the ‘big things’ we help our clients accomplish such as planning for retirement, executing a business transition plan, or becoming debt-free. These major accomplishments are milestone events and are occasions we enjoy celebrating together. However, under the surface, there are many small details that go into… Read More
The Master’s Minute – Keep the End in Mind
Habit 2 in Stephen Covey’s book, The 7 Habits of Highly Effective People, is to “begin with the end in mind.” I have found it extremely helpful when starting something new to take time to envision what I really want in the end. It might be tempting when we reach an ending point in some aspect of our life to fill the void with whatever is comfortable and straightforward. However,… Read More
