The money conversation every couple should have
You’ve probably read that one of the Four Horsemen of relationship strife is money. Misalignment on money issues is one of the main problems that can sink a relationship if you’re not careful.
Financial Planning
Here’s how to decide whether a trust is right for you
Who needs a trust? Think about it like specialty insurance. Some people genuinely need it based on their circumstances; others don’t. You wouldn’t add rust protection to a vehicle unless your environment called for it. The same idea applies here.
When a will isn’t enough — why you might consider a trust
When you’re early in your career, much of financial advice focuses on the essentials — budgeting, saving, retirement contributions — but what a lot of people neglect is what would happen to those assets in case of an early or unexpected loss of life. It’s not a fun topic, but, especially once you’ve started a family, it becomes really important.
Building generational wealth as a Millennial
It’s no secret that many Millennials have had a rough go of it when it comes to the financial instability they have faced during much of their working lives. Between slow wage growth, multiple financial crises, and an inflated housing market, it’s been difficult for many to grow their wealth at a similar rate to their parents and grandparents.
5 Most Important Tips for Year-End Charitable Giving
As the holiday season approaches, generosity often tends to take center stage, and for good reasons. Giving back not only supports the causes you care about, but it can also provide potential tax advantages before the year wraps up. Whether you give regularly or are considering a larger year-end contribution, here are a few strategies that can help make your charitable dollars go further.
Dave’s Inbox: How can I minimize taxes on Required Minimum Distributions?
Is there something I should be doing today to prepare for paying on Required Minimum Distributions (RMDs) in retirement?
Tax efficiency is a popular topic in retirement planning. While I embrace the idea of paying as little in taxes as possible, these “tips” are often rooted in the assumption that you’re going to be in a lower tax bracket in your retirement.
Thinking about retiring early? Start with these 4 steps
The dream of retiring early is a hot topic among millennials. There are countless podcasts, blog posts, and Reddit threads dedicated to exploring ways to achieve financial independence and gain more control over your time.
The Human Element: Why AI isn’t ready to manage your retirement
In today’s world, we have more information at our fingertips than ever before. When I meet with a new client family, I know they are often well-informed and capable of “doing their own research” when it comes to financial planning. But just because we have access to all the data in the world, it doesn’t mean that we know how to build and execute a plan designed specifically for us. I’ve been told that artificial intelligence may one day eventually replace me as a financial advisor. But I also know from my interactions with ChatGPT that we’re nowhere near that point. For the majority of our client families, their retirement planning can’t be put on hold while they wait for AI to catch up.
Why a CDFA® can be your most powerful tool in a divorce
As a Certified Divorce Financial Analyst® here in Lexington, Kentucky, I’ve worked with my fair share of clients who understandably have lots of questions about what to expect when it comes to splitting up assets with an ex-spouse. It’s never as simple as: half of your cash, half of your house, half of your cars. It’s a complex process that, when done correctly, requires a lot of foresight to make sure you don’t end up with an unfair settlement that haunts you long after a divorce is finalized.
Save for retirement or pay off student loans — which to choose?
For many young professionals, student loan repayment and saving for the future feel like opposing financial forces. On one hand, there’s the pressure to aggressively pay down debt. On the other, there is the desire — and need — to build a stable financial foundation for the future: emergency funds, retirement savings, buying a home, and more. The good news? You don’t have to choose one or the other. With the right strategy, you can make progress on both fronts.
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