It’s that time of year when caps and gowns are being packed away and newly minted college graduates have walked across the stage and into the real world here with the rest of us. Many of those students – and their parents and grandparents – will soon start paying off student loans, and will likely be thinking about consolidating some of them to make things a little more manageable.
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?”
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.
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.
Have you noticed recent ads in the newspaper, or at your local bank branch, for CDs lately? We’ve seen that rates are on the rise, and wanted to pass this information along to you, our valued clients (and prospective clients!).
So when it comes to charitable giving, I know I’ve seen patterns over the 19 years I’ve been in this business as people make the decision to give their hard-earned money to an organization or cause.
Winston Churchill once said that, “We make a living by what we get, but we make a life by what we give.” This is why, as financial planners, we always ask our clients about their giving habits, goals and how they feel about their philanthropic efforts. In some ways it can seem counterintuitive – aren’t we trying to help people maximize their assets and save more? Why would we ask them about giving it away? Several reasons, actually.
By now you should have most of your tax documents in hand and you’re thinking about tackling that task of doing your taxes. Maybe you have some charitable donations to consider, or maybe you’re thinking you want to start a giving plan now to maximize your refund next year. Wondering where to start? We can help.
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