In a Relationship? Have You Discussed These Topics?

In a Relationship? Have You Discussed These Topics?

Getting married can be one of the happiest moments in a person’s life. I know this firsthand as my wedding was just a few months ago and the word incredible would be an understatement. But to go along with all the great times, there are also important, sometimes difficult changes that two individuals must make when they get married. As a Wealth Advisor, I’ve seen the tension and distrust that money can bring if couples aren’t on the same page. I want to equip you and your significant other with questions and considerations to set you up for a long, happy life together. (more…)

What is the Right 529 Plan for College Savings?

What is the Right 529 Plan for College Savings?

As the parent of two young children, college planning is certainly on my mind, even at just 3-years and 6-months-old. While there are multiple options when saving for college, I’ve created 529 plans for my kids, which provide several benefits.

This post examines 529 plans and their benefits, followed by a description of how I’ve chosen to invest my 529 accounts. (more…)



Many people in your life – from your fourth-grade teacher, to your parents, to your employer – have likely touted the benefits of setting goals for your future. You may have written down you would go to medical school and be a doctor, or get married and have children or buy your first home by 25. We create life plans and vision boards that project where we would like to be at some point in our future. And then often, they collect dust. They get pushed to the bottom of a stack of junk mail on your counter and you lose motivation.

As wealth advisors, we start with your personal goals. During our discovery meetings with clients, we spend time learning what’s important to them around money. Helping clients live fully requires understanding the values behind the goals, and without that, the numbers can feel meaningless. (more…)

Pay Yourself First: Reverse Budgeting

Pay Yourself First: Reverse Budgeting

In this article, we discuss the Smiths’ and the Jones’ different lifestyle spending needs, and the annual savings necessary to maintain their lifestyle in retirement. Let’s walk through the steps these families should take each year to help them stay on track to achieve their goals.

1. Determine the cost of your annual lifestyle spending needs, and how much of that will continue into retirement.

  • Smiths – They currently earn $150,000 a year. After excluding retirement savings and expenses that wouldn’t continue into retirement, such as the cost of commuting to work, they determine that their annual spending is $90,000.
  • Joneses – They currently earn $500,000 a year. After backing out retirement savings and expenses that wouldn’t continue into retirement, this couple finds their annual spending is $250,000. This higher spending need is in part due to living in an expensive city and having a mortgage on their home and vacation property. About 10 years ago, this couple’s income was $175,000, with spending needs of $115,000.

Take-away: To determine your lifestyle spending needs, you need to exclude retirement savings and expenses that wouldn’t continue into retirement. Expenses that remain include utilities, taxes, food, entertainment, travel, etc. Many households carry a mortgage for the first 10-15 years into retirement. If you don’t think you’ll pay off your mortgage by the time you retire, make sure to include this housing cost in your spending estimate. You need to be aware of how much your lifestyle spending changes over time to make sure it’s sustainable in retirement. It’s far easier to spend more money than to cut back on your lifestyle. (more…)

Determining the Best Charitable Vehicle for Your Goals

We’ve been working with clients across the country for over 30 years, and we understand how important it can be to share your success by donating to charitable organizations, whether it’s through volunteering time or giving money. Once this charitable intent is determined, the next step is to determine how best to give. The following steps can help you identify the most efficient way to give, according to your circumstances.

Step 1 – Identify a cause that’s important to you

From supporting education and providing funds for cancer research, to protecting the environment and ensuring human rights for all, the list of worthy causes is endless. What’s important to remember when being philanthropic during your lifetime is that you have complete control over who receives your money or time.

Step 2 – Decide if you want to volunteer your time, money, or both

Being philanthropic doesn’t always mean writing a check. Many people give their time or expertise to organizations. This includes volunteering at events, raising money, participating on the board of directors, committees, etc. Some volunteer and also give money to organizations that are important to them. For many, they may not have the time or ability to volunteer due to a number of circumstances, however they choose to share their financial resources instead.

Step 3 – What are your funding sources?

If you decide to give part of your wealth, then the next step is determining how best to fund your gift. Do you have cash? Taxable investment accounts with securities (stocks or bonds) that have appreciated in value? Do you have a retirement account? Do you have a life insurance policy?

Step 4 – Is this a one-time or recurring gift, and do you want to make it during your lifetime or from your estate?

These are important considerations, as they impact the method you use to make your donation. For some of the methods listed in step 5, you can make a one-time, planned gift that can be distributed over many years to one or many charitable organizations. The giving method may be different for a one-time gift or recurring annual gifts to an organization or to charity in general. (more…)