When you set a goal for yourself, whether financial, fitness or in another area of your life that you’d like to improve, how do you track your progress? Do you measure your successes against standards that were set for or by someone else? Or do you measure your success and achievements based on where you started out and where you’re trying to go?
Should you be focused on leaving a legacy? Maybe not. Family Financial Partners, we pride ourselves on planning for your specific objectives and goals, so please know, we want you to be 100 percent open and honest with us. It’s not wrong if sharing your wealth with future generations isn’t one of your goals.
While on the one hand I agree – it’s right there in our tagline that we focus on generational wealth – I do know that there are those folks who don’t necessarily want to leave a large sum for their progeny.
Memorial Day weekend is upon us, so that means summer is officially in full swing. Whatever you have planned, whether a beach vacation or enjoying your deck at home, don’t let the laid back days of summer make you neglect your money and financial goals. Take an evening soon to go over these money to-dos we’ve put together to help keep you on track.
With the last day of school nearly upon us and the kiddos about to be out for the summer, I’m noticing that, for the first time in a couple of years, other parents are starting to ask each other about summer vacation plans. After the travel hiatus most of us took due to Covid and with the current economic climate, it’s exciting to talk about upcoming adventures and escapes from the daily grind.
When it comes to the topic of gift giving, moms are always the best, am I right? If you’re a male reading this and thinking Dave, what are you talking about? I give great gifts! Turn to your closest female friend or family member and ask what birthdays, holidays or special occasions are coming up. You’ll be surprised that there’s a whole separate calendar of all of these dates, unbeknownst to men – that only women have the ability to keep track of, often only in their heads.
Since last November when the Federal Reserve said they would raise rates, the markets began to price in those expected higher interest rates, and companies likewise priced in on balance sheets and forward guidance, as is standard. The markets initially gyrated down with the expectation that rates would rise and money supply would be reduced, ending the equity party that’s been going on for years. That said, after a few weeks of adjustment, the markets popped back up to near all-time highs and at end of the year.
We’ve been talking this month about various assumptions and misconceptions people make when it comes to hiring a financial planning team. No, you don’t have to have everything figured out to work with a financial professional. That’s like thinking you have to already be in good shape to go the gym! Helping you get your financial life together is what we do, after all.
One question I am asked often in this business is, what makes a good client for Family Financial Partners? Last week, we talked about common assumptions people make about working with a financial advisor. Today, I want to take a look at what makes a good client, and some of the misconceptions we hear about this as well.
For those of you reading this who already work with our team, thanks! We always appreciate your business and your referrals. If you’re reading this and you don’t work with us yet, I want to address some of the common misconceptions that keep people from picking up the phone and scheduling their complimentary first meeting with us.
When it comes to investing in the stock market, the risks are similar to the risks taken by the initial gold miners during the California gold rush of the 1840s. Just imagine back then when gold was aplenty – you could literally stoop into a creek with a pan and find nuggets of gold. Or, you could choose to dig a hole and find a vein from a mine, or an old waterfall with a bunch of gold at the bottom.
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