Over the last few weeks, I’ve seen a lot of you at Keeneland enjoying the beautiful Kentucky spring while we watch the races. Even if I invited you out and you weren’t able to make it, I think we can all agree spring in the Bluegrass is truly a wonderful time of year. One question that always comes up, whether we’re talking about the financial markets or the horse races at Keeneland, is “What do you think Dave?”
You might not – but the answer depends on several factors.
The other day, we had some new clients come in for their first meeting. This couple is in their late 50s, about five years from retirement, and they’re super excited because they’ve just paid off their last consumer debt – all credit cards, lines of credit on their home, car payments, and yes, even their mortgage were officially paid in full. If I were part of the Dave Ramsey show, they’d have been yelling “We’re Debt Free!”
As you know, the Federal Reserve raised interest rates recently, and we’ve gotten several questions from clients wondering how this could potentially affect their financial plan. The answer is that it could, and there are three areas within your portfolio to consider as interest rates are rising.
Whether stocks or teams, it’s best not to put all your eggs in one basket.
With at least 13 million brackets submitted through ESPN alone and Las Vegas bookies expecting between $200 and $225 million wagered just in the state of Nevada during this year’s NCAA tournament, well, the madness is in full swing!
Welcome to another edition of Financial Planning Madness, where instead of just talking about boring financial topics, we’ll (hopefully!) help you pick a few bracket busters as you fill out your NCAA tournament brackets.
Everywhere you look these days it’s March Madness. First, there was the announcement that Warren Buffet is finally buying a purely tech company in Apple (Aapl). He drew a comparison between iTunes and the Gillette razor blade – each is the repeatable purchase for its respective company. Proctor & Gamble doesn’t make its money from razors – it makes money from the blades. Same thing goes for Apple and iTunes, right?
Our team may be different from other advisors you’ve worked with. Here’s why.
Whether you’re a client at Family Financial Partners or you don’t work with us yet, you may have noticed that our team approach looks a little different than other financial planners or advisors. First and foremost, what sets us apart and makes us unique is that we have a team of folks who are truly all in this together. Typically, within many other practices, we find that advisors are siloed, in that they have their own book of business, and they don’t share clients or work within client accounts that aren’t primarily the folks they deal with.
Keeping up with Joneses – it’s human nature, right? Your neighbor brings home a brand-new Beamer, and your 10-year-old Honda looks a little dull in comparison. Everyone has felt this way at some point, and it doesn’t start in adulthood. We all remember the kid who got a new bike every Christmas, and a new sports car for their 16th birthday. Now, that has evolved into who has the bigger engagement ring, who had the most lavish wedding, and who buys the biggest first home.
One thing I hear periodically as a financial advisor is, “I wish I had enough money to invest and work with you.” What I always tell these folks is to start with what they can control, rather than focusing on what they don’t yet have or can’t control. The best time to start saving is today.
For the last couple of weeks, we’ve been talking about giving, and how and why we see our client families choosing to give away some of their hard-earned assets. Whether it’s for a tax break, to pay forward an opportunity they were given, or simply to feel good about a choice they’re making, we’ve helped many of our clients get the most out of their charitable gifts.
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