If you have an “old school” pension, you will face a tough decision at some point. Do I take the monthly checks or the lump sum payout? Now, many companies or employers don’t offer pensions at all. That makes this
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Do I Take the Lump Sum or the Monthly Pension Checks?
Should I do the “Roth” Option inside my Company 401k Plan?
In some company 401k plans, you have the option of investing your EE (employee) contributions as pre-tax “Traditional” contributions (the way you have always done it) OR post-tax “Roth” contributions (the newer option). Let’s clear up a few possible
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Is Getting Wealthy a Wise Goal?
Why aren’t the wealthiest people in the world on a permanent vacation? Why aren’t they spending their time perpetually sipping martinis on a beach somewhere? Aren’t we told that the goal is to build a big or the biggest
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To Be Young
Not gravity. Not friction. Not anything else. Albert Einstein famously called “the power of compound interest” the most powerful force in the universe. The necessary ingredient of this compounding is time. Time’s abundance appears to be youth. But, who
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Too Many Titles for the Financial Guy (or Gal)
*Funny note: As a finished up writing this, an article called How “Lifestyle Advisors” Can Succeed popped into my email. I can’t make this stuff up! “Working in the financial industry, I’ve noticed that professional titles that should have
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The Age of the Internet-Advice-Machine
Our world is full of contradictory advice. Ask Google about it. You get what you pay for. The best things in life are free. Carpe Diem (Sieze the day). Good things come to those who wait. Pay that mortgage early. Don’t pay
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Money is Time
“Time is money says the proverb, but turn it around and you get a precious truth, money is time.” -George Gissing The most central concept tackled in good financial planning is the precious resource of your time. Strip away
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Financial Planning: Not In Our Schools
PERSONAL FINANCIAL PLANNING IS NOT TAUGHT IN TRADITIONAL SCHOOLING. Would you believe you can go through all twelve grades, through college, and even graduate school (with a Finance major) and not take a single course in Personal Financial Planning? Believe
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Financial Planning: Odd Beginnings?
FINANCIAL PLANNING DID NOT BEGIN WITH A “CLEAN SLATE.” We all can study the history of financial planning. In short, before there was planning, there was insurance. Insurance companies provided virtually all of the personal finance products. The products were
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Financial Planning: A New Concept (Sort of)
FINANCIAL PLANNING IS A NEW PROFESSION (on a relative basis). Let’s look at some other widely accepted and understood professions: Medicine – Origins date back thousands of years. Accounting – Origins date back thousands of years. Law – Origins date
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