Retirement Planning
Articles from our nationally recognized, weekly blog.
Donor Advised Funds: A Great Tax Planning Tool for the Charitably Inclined
With the end of the year quickly approaching, and as most people are starting to look for end of year tax strategies, I figured now is an opportune time to get this information out.
So You’re Married! Now That You’ve Said, “I do”, How Will You Handle Your Joint Finances?
When I got married , the question everyone asked was, “does it feel different?” At first, I’d shrug, laugh it off, and answer with a quick “not really.” Much later as I pondered the question, I realized things were different. I didn’t love my wife more or less the day after we exchanged vows. (I loved her 1,000 times more, if she is reading this J). Yet, the big shift was in how we viewed our finances.
So You Have a 401(k), Now What? [12 Steps to Ensure Success]
At a very high level, most 401(k) plans work the same. You elect to pull money directly from your paycheck each month into a plan. These dollars are then invested into various vehicles of your choosing. Typically, these plans have some sort of tax benefit to help entice retirement savers. Once you retire, you then draw on these funds to help subsidize your income.
Those that Don’t Know History are Destined to Repeat it!
It’s a cliché but common aphorism: “Those who cannot remember the past are condemned to repeat it.” (Thanks, Philosophy 101 and George Santayana.) Looking at the stock market through the lens of history, it sure is an interesting case study into the human psyche. The market is an amazing tool for financial freedom and security when handled correctly. But, if handled incorrectly, it can be the source of angst and frustration.
The Single Most Important Question to Ask Yourself Before Retiring!
The other night I had dinner at my favorite sushi place (Sagami’s in Collinswood, NJ) with a good friend. He’s over 50, and we discussed the topic of retirement. He described vacillating between getting an RV (and a dog) to travel the country versus continuing to work. After a few minutes of the pros and cons, I asked him one of my favorite contemplating-retirement questions. “Do you think you are retiring TO something or FROM something?”
Trick or Creep: What’s lurking behind your lavish lifestyle?
Many of us experience this phenomena and don’t even realize it. Basically, lifestyle creep pertains to how our style of living increases as we advance financially (most often through our careers). Once, you drove a 15 year old “beater” car. Now, you drive a BMW. You used to only vacation where you could pack the car and drive. Now, you fly your family of five to Europe every year.
No Cash? No Problem. The New Way to Transfer Money to Friends & Businesses
A few years ago my brother owed me money for some wine. I said to him, “Hey man, just send it to me by Paypal.” He said, “Paypal? I only have Venmo. What is your Venmo info?” I responded, “Venmo? I only have Paypal. Who doesn’t have Paypal?”
A Breakdown of Bonds: Positives & Negatives
Most of us have heard about bonds. Furthermore, most understand bonds are an investment vehicle much like stocks. However, I find many truly don’t understand how a bond operates. For instance, did you know the rarely talked about bond market is substantially larger than the stock market? It’s true; it’s about 30 trillion dollars larger! The global bond market is approximately $108 trillion compared to the approximately $79 trillion of the global stock market.
Your Savings Assessment Test [Where do you Score?]
Many of us like to get a sense for our place in the world. This sense comes in different forms: spiritual, emotional, financial, and more. When it comes to finances, it’s helpful for everyone to grasp how well we are all saving for the future. The sooner all of us can wrap our heads around where we “stack up,” the sooner situations can improve. To help, I’ve created my own “savings assessment test.” It uses a scoring scale from 1-10 (one being the lowest and ten the highest) to determine retirement savings health.
Tips for How to Make Financial Planning a Cinch
I work with clients to develop a very sophisticated and multifaceted plan to organize their finances. Oftentimes after that meeting (or meetings, to be fair), they leave with a series of detailed steps geared towards putting them on the “right path” to success. I recognize; however, many people work best if given just one singular goal — one objective prioritized ahead of the million other smaller things.
Donor Advised Funds: A Great Tax Planning Tool for the Charitably Inclined
With the end of the year quickly approaching, and as most people are starting to look for end of year tax strategies, I figured now is an opportune time to get this information out.
So You’re Married! Now That You’ve Said, “I do”, How Will You Handle Your Joint Finances?
When I got married , the question everyone asked was, “does it feel different?” At first, I’d shrug, laugh it off, and answer with a quick “not really.” Much later as I pondered the question, I realized things were different. I didn’t love my wife more or less the day after we exchanged vows. (I loved her 1,000 times more, if she is reading this J). Yet, the big shift was in how we viewed our finances.
So You Have a 401(k), Now What? [12 Steps to Ensure Success]
At a very high level, most 401(k) plans work the same. You elect to pull money directly from your paycheck each month into a plan. These dollars are then invested into various vehicles of your choosing. Typically, these plans have some sort of tax benefit to help entice retirement savers. Once you retire, you then draw on these funds to help subsidize your income.
Those that Don’t Know History are Destined to Repeat it!
It’s a cliché but common aphorism: “Those who cannot remember the past are condemned to repeat it.” (Thanks, Philosophy 101 and George Santayana.) Looking at the stock market through the lens of history, it sure is an interesting case study into the human psyche. The market is an amazing tool for financial freedom and security when handled correctly. But, if handled incorrectly, it can be the source of angst and frustration.
The Single Most Important Question to Ask Yourself Before Retiring!
The other night I had dinner at my favorite sushi place (Sagami’s in Collinswood, NJ) with a good friend. He’s over 50, and we discussed the topic of retirement. He described vacillating between getting an RV (and a dog) to travel the country versus continuing to work. After a few minutes of the pros and cons, I asked him one of my favorite contemplating-retirement questions. “Do you think you are retiring TO something or FROM something?”
Trick or Creep: What’s lurking behind your lavish lifestyle?
Many of us experience this phenomena and don’t even realize it. Basically, lifestyle creep pertains to how our style of living increases as we advance financially (most often through our careers). Once, you drove a 15 year old “beater” car. Now, you drive a BMW. You used to only vacation where you could pack the car and drive. Now, you fly your family of five to Europe every year.
No Cash? No Problem. The New Way to Transfer Money to Friends & Businesses
A few years ago my brother owed me money for some wine. I said to him, “Hey man, just send it to me by Paypal.” He said, “Paypal? I only have Venmo. What is your Venmo info?” I responded, “Venmo? I only have Paypal. Who doesn’t have Paypal?”
A Breakdown of Bonds: Positives & Negatives
Most of us have heard about bonds. Furthermore, most understand bonds are an investment vehicle much like stocks. However, I find many truly don’t understand how a bond operates. For instance, did you know the rarely talked about bond market is substantially larger than the stock market? It’s true; it’s about 30 trillion dollars larger! The global bond market is approximately $108 trillion compared to the approximately $79 trillion of the global stock market.
Your Savings Assessment Test [Where do you Score?]
Many of us like to get a sense for our place in the world. This sense comes in different forms: spiritual, emotional, financial, and more. When it comes to finances, it’s helpful for everyone to grasp how well we are all saving for the future. The sooner all of us can wrap our heads around where we “stack up,” the sooner situations can improve. To help, I’ve created my own “savings assessment test.” It uses a scoring scale from 1-10 (one being the lowest and ten the highest) to determine retirement savings health.
Tips for How to Make Financial Planning a Cinch
I work with clients to develop a very sophisticated and multifaceted plan to organize their finances. Oftentimes after that meeting (or meetings, to be fair), they leave with a series of detailed steps geared towards putting them on the “right path” to success. I recognize; however, many people work best if given just one singular goal — one objective prioritized ahead of the million other smaller things.