What You Need To Know Before Loaning Money To Family and Friends

2022-11-02T01:25:12+00:00November 1, 2022|Blog, Family Financial Information|

Close relationships can affect your financial decisions, and sometimes, not for the better. A Bankrate survey found that nearly half of people who helped a loved one financially experienced a “bad” outcome—lost money, a damaged credit score, or harmed relationship.  But does mixing family and money have to be so incompatible? Not if you plan accordingly! Perhaps the best way to protect your financial situation and relationships is with ample thought, consideration, and preparation concerning [...]

What is Financial Life Planning? And What it Means to Us

2022-10-03T18:00:00+00:00August 8, 2022|Family Financial Information, Financial Planning Psychology|

What comes to mind when you hear "financial planning"?  You probably think about money management—investments, budgeting, saving, debt, etc. You might think about it as an endless loop of spreadsheets, numbers, statistics, and fact-based meetings with your advisor, all of which blur together. While financial planning will involve some data and money talk, What if we told you that wasn't even close to the complete picture?  Your investments, family budget, retirement projections, and more make [...]

Why Beneficiaries Are Important to Your Estate Plan (And Why You Should Probably Update Them)

2022-08-01T14:54:36+00:00August 1, 2022|Estate Planning, Family Financial Information|

You know what they say about the best-laid plans....or maybe not? In our book, the best-laid plans are the ones you review again and again, which is especially true for your estate plan. Say something happened to you and your family had to care for your estate. Wouldn’t you want to have all your ducks in a row, so they don’t have to wrangle them?  And what happens if, when they have those ducks, they [...]

How To Financially Support Your Children And Teach Them The Value of Money

2022-06-29T01:31:09+00:00July 15, 2022|Family Financial Information, Financial Planning Psychology|

As a parent, you may always feel like you want to take care of your children. But that shouldn't translate to paying for everything throughout their lives.  It’s a wonderful gift to financially support your kids, and it's another to empower them with the knowledge and care to financially support themselves one day.  There is a saying, “if you give a man a fish, he will eat for a day; teach a man to fish, [...]

4 Questions To Discuss With Your Child Before You Pay For Graduate School

2022-06-29T01:19:50+00:00July 1, 2022|College Planning, Family Financial Information|

Graduate school applications and admissions are on the rise. With more and more students pursuing graduate-level education, it begs the question,  Should parents have to foot that bill, too?  Maybe you’ve already committed funds to your child’s undergraduate degree. Or perhaps this is the first time your child is asking for your help with education expenses. You may find yourself in either situation wondering if you have the resources to fund any part of your [...]

10 Expenses Homebuyers Forget About

2022-06-01T19:46:33+00:00June 22, 2022|Blog, Family Financial Information, Real Estate|

Buying a house is an exciting journey, but it can also be stressful (and costly), especially if you walk into the process unprepared, something far too many people do. In fact, over a third of home buyers said they underestimated the total costs of homeownership.   Sure, the price tag may be the biggest cost up-front—but the sale’s price is just one expense homebuyers must consider. Beyond mortgage and insurance, there are additional costs all new [...]

How To Help Your Teenager Borrow The Right Amount of Money For School

2022-06-09T20:01:16+00:00June 10, 2022|Family Financial Information, Financial Planning Psychology, General Financial Planning|

The U.S doesn’t have the greatest track record for prioritizing financial literacy, especially for children.  A financial literacy study for young adults found that young people didn’t grasp basic financial concepts like budgeting, how stocks and bonds work, interest, taxes, and more. On the 31-question test, the average score for high school students was only 48.3%, and college students didn’t fare much better at 62.2%. These numbers, unfortunately, make sense since many states don’t require [...]

Kids and Credit: When They Need A Card And How To Build Good Credit Early

2022-04-26T21:28:04+00:00May 1, 2022|Blog, Family Financial Information, Financial Planning Psychology, General Financial Planning|

As a financially responsible adult, you likely understand how important good credit is to a successful financial future. Learning sound credit card habits is an excellent way for your child to learn about financial responsibility, independence, and growth. So when should your children start building their credit? Early on, kids must learn that these plastic cards aren’t synonyms with an endless supply of money.  Let’s explore some ideas on how to teach your children about [...]

Should You Open A Roth IRA for Your Kids?

2022-02-01T22:11:58+00:00February 1, 2022|Blog, Family Financial Information, Investments|

While most commonly used as a tax-efficient way to save for retirement, Roth IRAs have some unique traits that make them appealing to investors with many financial goals. In particular, opening Roth IRAs for your minor children may help them get a jumpstart on their financial future. Wait, you can open a Roth IRA for your kids? That’s right!  Investing in a Roth IRA for your kids may open up some critical future opportunities—far more [...]

How Important Are Standardized Test Scores for College Admission?

2022-01-17T13:27:01+00:00January 15, 2022|Blog, College Planning, Family Financial Information|

Institutions have long used standardized tests to measure students' competency in specific subject areas. Some of the more common areas consist of language, math, science, logic, and reasoning.  Students of all ages have come across these tests. From Common Core in elementary school to the ACT and SAT in high school, educators continuously use standardized tests to evaluate students’ intellect.  ACT and SAT scores have been synonymous with college applications for years. These tests leave [...]

Go to Top