Most people of conscience, especially those who have done well for themselves, want to use their resources to do some good in the world.
I’m sometimes asked by prospective clients how they would benefit from working with a Financial Planner. Michael Kitces, a national expert on financial planning and the financial planning process (www.kitces.com), put together the following graphic to try to attach an economic value to financial advice. While some aspects a
CEOs do it; athletes do it; in fact, anyone who needs to be able to achieve a certain level of performance in order to achieve a specific goal constantly assesses where they are in relation to where they want to be. This is to ensure that available resources are being utilized optimally at all time.
Many investors, especially those still reeling from the 2008 – 2011 stock market roller coaster ride, have developed a low tolerance for volatility. As a result they have moved a significant portion of their investments into bonds or other fixed yield vehicles.
The saving versus paying off debt is an age-old quandary that has plagued people since the advent of consumer debt. Pose this question to a group of financial planners and the responses will be split, roughly down the middle. While there might be as many advocates for savings as there would be for paying down debt, the broad consensus will likely be that it really depends on the situation.
It's taken almost six months for Kelly Pedersen, founder of Caissa Wealth Strategies in Bloomington, Minn., to close up a deceased client's estate. Part of the process: working with companies to tie up the loose ends of the client's digital assets.
At the core of any successful financial enterprise, be it a household or a business, is a sound an effective budget plan that is used to drive all cash flow decisions, large and small, on a daily basis.
In many respects, people can be their own worst enemies in their quest for financial security. When you consider that our lives are nothing more than a culmination of the decisions we make each day, if we tend to make more bad decisions than good decisions, or worse, if we can’t make decisions at all, it’s should be no surprise when financial security remains elusive.
Many people deal with credit card debt all of their lives with most of them giving little or no thought to what happens with their debt after they die. The fact that nearly 60% die without a will is a strong indication that they’ve given absolutely no thought to it.