Freedom, flexibility and family. These are the most common words we hear when we talk with our clients about the WHY behind their financial goals. We spend a lot of time talking about these WHYs because we believe that we need to know our clients’ core motivations before we establish financial goals and actions. By discovering the motivation behind the pursuit of your financial goals we can have more impactful… Read More
Charitable Giving with RMDs
Once you reach age 70½, Uncle Sam wants you to start paying taxes on at least a portion of your IRA or 401k balance. He gets you to do that by requiring you to withdraw a percentage of money from your tax-deferred account, and every dollar that you withdraw from your IRA or 401k is taxed as ordinary income. The minimum amount that you must withdraw each year is not… Read More
Is Estate Planning for Everyone?
Most of the news we hear about estate planning involves the rich and famous who either planned poorly or failed to plan for the distribution of their assets after their death, but you don’t need to be rich and famous to have an estate planning need. Estate planning is very broad and can apply to just about anyone. What is an estate, and what is estate planning? “An estate is… Read More
The Plan vs. Planning
The big game is almost here. For most of us in this area, the upcoming Super Bowl game will most likely be about the gathering of family and friends, enjoying some food, and anticipating the entertainment of the commercials. But what about the football game itself? Hopefully, it will be competitive and hold our interest. Although I am not a Falcons or Patriots fan, it is interesting to consider each… Read More
Blog Series: The Master’s Difference
As we conclude our blog series, “The Master’s Difference,” today’s blog will focus on Master’s unique approach to creating a personalized financial plan. The primary reason for using the services of a financial planner is to get objective opinions and advice regarding your entire financial picture. Your financial planner should understand your personal goals and objectives, your values, and the things that are most important to you. A financial plan… Read More
Long Term Care Blog Series: Financing
In the final installment of our long-term care blog series, we are discussing your options when it comes to paying for long-term care. According to JP Morgan’s Guide to Retirement, a woman age 65 has a 73% chance of needing some type of long-term care in her lifetime and a man age 65 has a 35% chance. The average age of a person making a new long-term care claim is… Read More
Long Term Care Blog Series: Emotions and Planning
As we continue our long-term care blog series, this article will focus on some of the ways we deal with decisions regarding the potential need for long-term care. While it can be challenging to think about and discuss these issues, let’s take a candid look at the way we respond when we think about long-term care. We might respond with denial and completely avoid the issue. The thinking process might… Read More
Why Take the Risk?
In one way or another, I believe we all strive for comfort even if that is as simple as getting out of the heat and humidity on a hot summer day into a climate controlled house or office. Generally, we seek to avoid pain and discomfort. Sometimes we will go to great effort to avoid an experience that we believe will be painful. Recently, I have been asking myself if… Read More
Let’s Not Be Human
Every quarter, J.P Morgan Asset Management releases a small flip book called “Guide to the Markets.” It has 70 pages of colored charts that show statistics on the economy, U.S. and foreign stocks, U.S. and foreign bonds and asset allocation. The “Guide” is my go-to resource for information on what is happening in the various sectors of the market. One of my favorite charts in the guide shows various investment… Read More
I Need New Sheets
I need new sheets for my bed. There was a point in my life when sheets were sheets, but not anymore. What I now consider newly acquired refined tastes, my friends simply call High Maintenance. They shake their heads at the lengths to which I will go to get the best product at the best price. For instance, I’m a big fan of those who submit their product reviews on… Read More
