Lost Generation

Every generation faces their own unique set of challenges. Timing plays a major role in the outcome of your financial life, whether you like it or not. In fact, a 2018 report by the Federal Reserve Bank of St. Louis explained this clearly. Their study looked at the connection between one’s birth year and financial well-being, or wealth.

Average Speed

About 200 million Americans want to write a book, according to Publishing Perspectives. Typing 50,000 words into a cohesive story seems to be an impossible task. Only the individuals with the ability to disappear into a cabin in the woods have the opportunity to become a published author.

Hole In One

Have you ever played a round of golf? If your answer was yes, how many hole-in-one’s do you have? I’ve been playing the game since the age of four and have yet to make one. Even the best players in the world know how difficult it is to make a tiny ball go into a 4 ¼ inches round hole in the ground that is two hundred yards away.

Variable Income

Self-employed individuals, freelancers, and commissioned workers all struggle with one area of their finances: managing a variable income. When you don’t know how much money you are going to make this month or this year, it is tough to start saving. I know this all too well as a self-employed financial planner.

Beyond Passive

Passive index investing seems to be getting more popular by the day. And for good reason I might add. For a low cost you can get a diversified basket of stocks, a return that matches the targeted benchmark, and a lower tax bill. These are all positives when evaluating various investment options.

Playing It Safe

Investors often think of conservative versus aggressive as a discussion about their investment portfolio weightings. The more conservative investors put a larger percentage of the portfolio in fixed income. Aggressive investors favor equities. But today we are going to discuss an entirely different meaning of the word conservative. That is, we are talking about the behavior conservatism.

Keeping Records

If you are going to form one new financial habit this year, make it good record keeping. A system that is easy to follow will improve your financial life both today and for years to come. With all of the annual investment statements and tax documents you are about to start receiving, this is a great time to start.

Financial Ambitions

It is good to have the desire to improve your financial situation. You want to keep moving forward, even if you are happy with your progress to this point. Where do you turn for guidance? Your neighbor with the latest stock tip likely doesn’t understand the full scope of your needs. And the Saturday morning money show might just be a fancy front for selling insurance products.