More Than A Paycheck

Being a business owner has responsibilities that extend far beyond running the actual business. The paycheck you provide your employees every two weeks helps them live their life. That money also goes back into the local economy as they purchase goods to support their family. Additionally, you have an opportunity to help your employees live a happy life beyond their regular wages.

Just Getting Started

Since I entered the workforce after graduating from Iowa State University in late 2010, I have been giving advice to others on how to put their money to good use. There are few things I enjoy more than having a conversation with a couple about such a complex subject. Along the way, I’ve pushed myself to learn more about specific financial planning strategies to be of greater value to my clients. Most recently, I’ve spent my study time learning about human behaviors and psychology.

New Car Season

As I drive around town these days, I notice a lot of cars with temporary license plates indicating they were recently purchased. What’s the reason for this? When I turn on the TV, I see a commercial for a local car dealership. They are offering to accept your tax refund as the down payment on a new car. Now it starts to make sense.

Cash Is King

Most American families are living paycheck to paycheck. This really comes to light when Federal workers miss a few pay periods during a government shutdown. In fact, a Federal Reserve survey found almost half of Americans wouldn’t be able to cover an emergency of $400.

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.