The reasons you have for NOT meeting with a financial planner are probably reasons why you actually should. Here’s a collection of reasons we’ve actually heard:

1. My wife and I don’t have time to meet

2. I need to sell my house first

3. I don’t have any money to invest

4. I just started my business, so all my money’s tied up

5. We’re getting ready to sell our house or buy a new one

6. I don’t need to meet yet, but maybe in a few years

7. I’m about to retire. I’ll call you after I do.

8. I’m about to sell my business

9. We need to make a budget first

10. We just owe a lot of money

11. My kids are getting ready to go to college

12. “Maybe next month”

13. I’m a private person

14. Our finances are a mess

15. We’re getting married, let’s wait until the dust settles

16. All my money is in my 401(k)

18. I do all my planning on my own

17. Our finances are in great shape, we don’t need you.

The reality is that for all the reasons why you don’t want to meet with a financial planner, there are at least as many reasons why you should. Life events are places where money moves and where your financial picture is likely to change, so don’t let them keep you from getting a professional outside opinion. The right advice can really help you make the most out of your money and your life.

If we either convinced you or made you feel a tiny bit defensive, click below to schedule a meeting with any of our advisors. As always, we’re here to help.

If you tell me how much money you save and give away each year, I can tell you how much you’re spending.

Your money can only go four places. You can pay your taxes with it, you can spend it, you can save it, or you can give it away. But most people don’t consciously think about where their money goes. They think they give a little bit, they think they save, they usually don’t realize how much they’re spending, but they do pay taxes. You have to pay your taxes or else bad things happen, so let’s just assume you pay your taxes 😉

What often happens is behaviorally we end up spending money. We spend money on things we want to spend money on, like things we want to do and have (hopefully), and usually saving and giving are afterthoughts.

So how much should you be saving and giving? A good rule of thumb is to save about 20% and use 10% as a starting point for giving. The amount you give can be much higher depending on the lifestyle you choose for yourself and your family.

It’s always a good idea to take a look at how you’re allocating your money. If you’re not sure about how much of your money is going where, let me know by scheduling an appointment below! I’d love to take a look.

So you want to quit your job. You’re burned out. You’ve done it for a long time, and now you want to do something different. But you’re wondering if you have enough money to quit what you’re doing and start a job that might pay less—or even start a whole different career.

I’m a life-centered financial planner, so whenever I meet with clients or prospective clients, I ask them, “What would you classify as your one major financial objective?” One thing a lot of people want to do is leave their current job and do something more fulfilling. So what I do is look at whether they have enough to quit what they’re doing for a while and still be okay.

I know about this from personal experience, because I was feeling burnt out in my career as an engineer. After meeting with a life-centered financial planner, I learned that I had enough runway to be okay while I made my career switch. I wish I would’ve met with a planner sooner.

If you’re struggling in your current job or career, I want to help you look over your finances and see if changing jobs is something you can afford to do. Let’s help you get the most out of life. Click below to schedule a free meeting!

What’s the tax you didn’t you know you’re paying? Inflation!

Inflation happens when the Federal Reserve prints more money and puts it into circulation. Everyone ends up with a little more money, which makes them feel comfortable spending more, which ultimately raises the prices of everyday goods. So while you may have more money, you’ll also have higher expenses. Your spending power remains about the same, because more money in circulation means more dollars competing for the same goods and services.

One way to protect against inflation is to own equities. Equities are stocks, mutual funds, and ETFs that are based on owning companies within the United States or around the world. One thing that leaves you more vulnerable to inflation is owning bonds or treasury bills or holding on to large amounts of cash, because these all earn a fixed return.

Equities help hedge against inflation because they don’t earn a fixed rate. Instead, the return on your equity holdings will grow along with inflation and preserve your buying power in the future. Basically, when inflation is high, stocks are good & bonds and cash are bad.

If inflation rates have you worried about your financial future, especially if you’re approaching retirement, schedule a meeting with one of our financial planners below. We’re here to help.

When we talk with someone who’s new to investing, fear often dominates the conversation. Whether that person is worried that the next bubble is around the corner or that the next stock market crash is about to happen, they often wonder, “Why in the world would I put money in today?”

Today, we’re defining what market risk is (and what it isn’t) to help you feel more comfortable.

Basically, market risk is the probability that the money you invest is going to drop in value and be at a low value when you need it. Let’s say you buy some stock. A year after buying it, you go to sell it because you need the money, but it turns out the stock dropped in value—leaving you with less money that you started with. The risk of losing money is why it’s not the best idea to invest money that you’ll need in the next few years, like for a down payment on a house or for a new car, into stocks. The risk of loss is a very valid fear, because all stocks inevitably go up and down in price over time.

The key to reconciling this fear is realizing that while the value of certain stocks may go up and down from day to day or month to month, most stocks still increase in value over the course of multiple years. What you need to do is invest toward a goal far enough in the future that you take advantage of this long-term growth. The past doesn’t necessarily predict the future, but if you’d have invested in a diverse set of stocks with a time horizon of 3 to 5 years anytime within the last 50 years, you wouldn’t have lost any money by the time you needed it.

What many people don’t realize, on the other hand, is that NOT investing in stocks can be just as risky, if not riskier. Without taking advantage of the growth provided by stocks, people risk not having enough money down the line for their goals. For example, an 8% rate of return on $1,000,000 generates $30,000 more per year compared to a 5% return. That’s huge.

Whether we’re talking about a conservative investment or an aggressive investment, the amount of time you spend in the market changes the amount of risk you actually face. If you’d like to discuss your own financial goals and risk tolerance with a financial planner, click below to schedule a free introductory meeting.