Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
Catch up on some of the latest posts with this week's roundup:
Financial Problem Areas to Avoid — Part 1: Not Saving Enough
by Cady North, North Financial Advisors
Young professionals often “spend into” salary raises and bonuses and do not prioritize saving to the extent they should. Most of the people I talk to know they SHOULD be saving more, but there’s a common feeling that there will always be more time to save and catch up. For those in their 20s, I hear “saving will be a priority, later, in my 30s.” For those who are in their 30’s I hear, “I know I should be saving for retirement, but things haven’t worked out like I planned, I’ll focus on it later.”
What Should Go Into a Financial Plan?
by Tony Pampel, True Life Financial Planning
Over the years, I’ve had the opportunity to debate discuss with various clients and other advisors regarding the proper contents of a “comprehensive financial plan.” The responses run the gamut, even more than you might think. For some, it’s a plan that addresses various types of insurable risks and an investment plan for retirement. Others argue that it couldn’t be comprehensive without education and tax planning, too. Still others tout their fully-comprehensive 10 point financial planning process.
My Anti-Aging Program
by Pam Horack, Pathfinder Planning
There’s something about turning a year older that makes you want to sit back and re-evaluate everything. In my case, it’s time to re-evaluate my health. Although I’d consider myself relatively healthy, the daily challenge of balancing an active family life with the time commitment required for running a growing financial planning firm leaves me with little time for exercise. And it doesn’t help that I hate it. Exercise is like work for me, so I put it off as long as possible.
It’s often said that health and wealth go hand-in-hand, and I wholeheartedly agree. Here are a few simple tips to follow if you too are looking to get into peak physical and fiscal health.
Put Savings (and Yourself) First With a Budget
by Emilie Goldman, Tamarind Financial Planning
Americans, it seems, are spenders. Although personal savings rates have increased recently, they remain low by historical standards, as many people continue to spend beyond their means.
If you’re among those Americans who can’t seem to save, it might be time to create a budget. A budget allows you to understand where the money goes and may help you free up cash for important savings goals, such as college and retirement.