1792 Alysheba Way, Suite 201, Lexington, KY 40509
FINRA | Broker Check | SIPC

Author: Kyrk Davis

Investment vs. Speculation: What’s the difference?

Many people spent 2022 putting money into a 401(k), only to watch that balance stay the same, or even go down. Unfortunately, that’s the way markets are from time to time. I understand that is not very motivating, and you may be questioning some of your decisions. It might have you wondering if you should stay the course or try to jump on the bandwagon of the next big “investment” in an attempt to recover some losses. Before making any decisions, let’s make sure the next big “Investment” is actually an investment and not just speculation.  

Don’t Rush Your Financial Plan

When it comes to saving and investing, it’s always a good idea to start young and be consistent. Early and often, right? While this is solid advice, I also advise my clients not to rush the process when it comes to building a solid financial foundation.

It Might be Time for a Roth Conversion

I have had a couple of conversations recently with people who have come to the same conclusion about 2022. It goes like this: the financial markets have tanked, they have made no progress whatsoever toward their long-term investment goals, and they’re declaring the year a total loss. 

Lifelong Learning

Most of the time when people come into our conference room or call us up, they want help with how to do something. Whether it’s saving money, budgeting, making major purchases or signing up for insurance, they want to know how.

My Best Piece of Financial Advice

A teacher friend of mine recently asked me a question. She does something in her classes she calls Financial Fridays, where she talks to her high school students about a useful financial topic each week. (I wish more teachers would do this!). She wanted to know the number-one piece of advice I would give to a person just out of high school to set them up for future financial success. 

3 Money Moves for Scary-good Results (And 3 to Avoid)

I don’t know about you, but I love Halloween. The creative costumes, haunted houses, adorable kids (and the chance to act like one!), plus copious amounts of candy all add up to one of my favorite holidays.
With Halloween happening earlier this week (and all the candy still staring at me!), I got to thinking about some of the “money monsters” we see our clients facing, and how to keep them from sending you running in fear.

But first, I also want to outline a few habits we recommend that can produce scary-good results as well.

Delayed Gratification: Good or Bad?

Oftentimes in the financial planning community, we use and hear the phrase “delayed gratification.” This is the idea that we should avoid spending money on things we enjoy today, and save/invest it, so that one day we can eventually spend it and receive the “gratification” we’ve been putting off. Dave Ramsey is famous for saying “live like no one else, so that one day you can live like no one else.” That’s all well and good, but personally, I don’t like the idea of denying myself all of the things that bring me joy or gratification. I say ignore that advice!

Long-term Effects of Job-hopping

It shouldn’t come as a shock when I say it is very common for people to job-hop during their 20s and into their 30s before they settle into a long-term position. Typically, people change jobs to gain new experiences, obtain a better title, or for more pay. While these are all very good reasons that, in the long run, should be positives in our financial lives, changing jobs too often can come with a cost.

Don’t Forget About Disability Coverage

One point we often drive home here at Family Financial Partners is the fact that insurance protection for the people and things that matter most is a vital part of any solid financial plan. Most people don’t question the need for health or car insurance, and while many people don’t like to think about it, most client families accept the fact that life insurance is a must. However, one area that often gets overlooked when it comes to insurance is one of the most important – disability insurance.

From Gambling to Investing

For lots of people, starting out investing in the financial markets feels a lot like gambling. It can be scary for even seasoned investors, but if you don’t know what you’re doing, well, it’s next to impossible to develop a strategy that will work for you long-term. Sure, it can be fun to buy a $5 stock and watch it double to $10, but it could just as easily plummet to $1. Roulette, anyone?

Scroll to top