Parents - Have I had a discussion with my spouse as to who is paying for college? Some parents want to pay for everything for college because that is what their parents did for them, or they want their student to be able to focus solely on their studies. Other parents would like their students to have some skin in the game with some loans. Yet other … [Read more...]
#6 of 15 Financial Retirement mistakes
November 2, 2020 by
In our previous blog, we looked at market timing and not diversifying correctly. The next one is important to be considered on its own. Not planning for “Sequence of Returns” – This is one of the “BIG 5” mistakes Most people are focused on the Accumulation Phase where we are saving towards retirement and adding to our accounts. One of the facets … [Read more...]
5 BAD FINANCIAL GIFTS TO GIVE TO OUR CHILDREN
September 14, 2020 by
(The last one is the worst) Most parents love their kids dearly and would die for them. My question is always – “Should We?” Here are some decisions that start out with good intentions but could actually end up having bad consequences for our loved ones. Getting a Parent PLUS loan that the student has to pay. There is a reason that there is a limit on … [Read more...]
#4 and #5 – 15 Financial Mistakes people make in Retirement
September 2, 2020 by
In our previous newsletter, we looked at the impact of inflation, a Big Thing, and Ponzi Schemes on retirement planning. The next two are more about our portfolios. #4 Attempting to time the market The past 6 months should be a great example of the risks of trying to time the market. There are circumstances that can occur that some people can … [Read more...]
#2 and #3 – 15 Financial Mistakes people make in Retirement
August 31, 2020 by
In our previous newsletter, we looked at the impact of inflation on retirement planning. These next two are not part of the BIG 5, but often cause our plans to go awry. Going for a “Big thing” So often we find that retirees have lots of time and watch TV or read or sit around talking to others - much more than they used to. Often, they will hear about a … [Read more...]
15 Financial Mistakes people make in Retirement – first of the “BIG 5”
August 13, 2020 by
A large part of what I do for a living is to assist families to assess their “Retirement Readiness”. The planning part obviously comes first, and this is called the Accumulation Phase of proper planning. If we have done a good job throughout this phase, then there will come a time for the big question. “Are we OK to retire now?” We then start planning the … [Read more...]
Perspective in tough times
March 26, 2020 by
These are certainly tough times that our nation is facing and for some there are even jobs at stake. These are times when tolerance and patience are tested. Compassion and Perspective are two words that I am personally focused on right now. Compassion for those under stress having to deal with a multitude of difficulties, and Perspective for us to ask ourselves … [Read more...]
How The New Tax Law Affects Charitable Giving
April 3, 2019 by
By Dave Coen Do you remember the days when you could give generously to others and get a nice tax break as an added benefit? Even if you didn’t donate money for the sole purpose of saving on your taxes, it was a nice perk come tax time. Unfortunately, under the new Tax Cuts & Jobs Act, a whole lot of people will lose out on all tax benefits associated with … [Read more...]
Have You Had The Financial Talk With Your Kids? We’re Here To Help
March 29, 2019 by
By Dave Coen Most parents want their kids to succeed financially, but what many parents don’t realize is that building a strong financial foundation does not happen by accident; it takes intentionality. If you let this area of parenting slide, there are consequences. You could end up like one of the 79% of parents who provide financial support to their adult … [Read more...]
$1 Million Isn’t What It Used To Be
March 7, 2019 by
By Dave Coen There was a time when a $1 million nest egg was the golden standard, the measure of success. Having a million saved away essentially guaranteed the retirement of your dreams. Unfortunately, those times are over. Instead of $1 million being the ultimate retirement goal, nowadays it’s not uncommon to read articles teaching how to survive with a … [Read more...]
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