Time marches on… What are you doing with your money?
I often speak about the importance of investing for the future and planning for your retirement. Some have taken my advice, and many have not. That might simply be because they may already be working with a financial advisor. But if they haven’t called simply out of indifference about their financial future… that worries me.
Weeks, months, or years may have passed since your last planning session.
I don’t want to be grim, but let’s face some facts. Time is passing whether you’re doing anything about it or not, and with each day retirement gets closer and closer. Many people go through their 30s and 40s without ever really giving serious thought to their investments or how they’ll live after they stop working. Maybe they’re reluctant to face their mortality, or they’re just too busy to stop and plan. But for some reason, they let things go until it’s almost too late. I don’t want that to happen to you. Someday, you’ll live on your savings and the income stream from your investments. That’s why I want to show you how to make the most of your current assets, even if you think you’re doing everything you can. Continue reading “Financial Planning – Time Marches On” »
It’s funny to think about the old stereotype of the bean-counting accountant. You know, the old-school CPA, the super-nerd who is wound up tight like a top. On a cross-country flight recently I stumbled upon Ghostbusters, the classic science-fiction comedy from the 80s. For the first time in many years I’m watching Bill Murray, Dan Akroyd, and Harold Ramis, as they start their ghost-catching company in a haunted New York City. And don’t forget Rick Moranis. In his ill-fitting suit and his tie, with his dark-framed glasses and his screwed-down hair, he plays the neurotic accountant. Continue reading “This LPL Financial Advisor aint afraid of no Ghosts!” »
I recently read an article about Duff McKagan, the former bass player for the legendary rock band Guns N’ Roses. Like many musicians before him, Duff had a history of abusing drugs and alcohol. It got so bad that a doctor told him he would die in a month if he didn’t stop drinking. Fortunately, he got sober. And, after all that hard living, he actually had a lot of money left. He just had no idea what to do with it. Continue reading “Behind the Music – Duff McKagan” »
I like to help my clients take the whole approach to their finances. It’s too easy to lock into a single financial obsession, to bite into some hot topic in the financial news.
Rather than do that, I encourage my clients to step back. For instance, let’s take a look at the issue of personal debt.
Or, having good debt versus having bad debt.
First, let’s look at the good debt. Those two words – good and debt – don’t seem to go together, do they? But it can make sense when you step back and look at the big picture.
For many of us, home ownership is not just a goal it’s a dream – one that I share with many of you. Fortunately in our country a lot of us get to realize this dream. And if we have a chance to pay down the mortgage on our property, it feels good to do it. We own our place. We’re paying it off. It feels like we’re 0getting somewhere.
But let’s say you have a mortgage rate that is nice and low. Let’s say we’ve locked into a 30-year 4% fixed rate. Or even if it’s a little higher than that, you still have an outstanding deal. This is what you call good debt.
Now for bad debt. Just take out your credit card. If you owe money, what interest rate are you paying? Some credit cards have interest rates as high as 20%. I can say unequivocally that this is bad debt. Because it’s hard to get ahead of it. It’s the kind of debt that keeps us from attaining and maintaining the lifestyle we want. It’s more important to take care of bad debt like this than it is to pay down your good debt mortgage.
One more thing about debt. It’s a good idea to be conscious of your credit card rating at all times. Be sure to pull a credit report once a year to get your rating, and be sure that you are not a victim of identity theft.
PODCAST OF THIS TOPIC! Click one of the links below to listen to Stu discuss this topic with morning guy Win Damon on wnbp 1450 am on your radio dial or listen live online at wnbp.com every Tuesday morning at 8:30.
Music and math have been closely connected since ancient times. It was the Greek philosopher Pythagoras who first expressed musical scales in terms of numerical fractions. Pythagoras is often credited with saying that math is everywhere and in all things. According to legend, he was walking by a blacksmith shop when he noticed the different tones the hammers made. Intrigued, he had a hunch he could use math to explain the tonal differences. Continue reading “Your Financial Plan set to Music” »
I knew I was throwing a curve ball when, years ago, I started calling myself a holistic financial advisor. You just don’t see the word holistic in financial services, and I knew some of my clients would look at me sideways. But by now they know I’m not conducting business in a field of Echinacea, surrounded by floating votives and Tarot cards. Continue reading “What is a Holistic Financial Advisor?” »
Time marches on… What are you doing with your money? 
