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Financial Planning

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Financial Independence

This weekend we’re looking forward to celebrating the July 4th holiday and America’s independence, as I’m sure you are as well. This always gets me thinking about personal financial independence and freedom, especially as many of us work toward the American dream of a comfortable retirement. 

Speaking of retirement, you may notice a new income projection shown in the quarterly statements you receive from your employer-sponsored 401(k) plan. Known as the Lifetime Income Disclosure, this estimates the monthly payments to you and/or your spouse after you retire. The idea is that, just as you can look at your Social Security statement and determine the best time to take that benefit, you can now look at your retirement statement and have the same knowledge of what your income will look like at the age you decide to retire. 

Blog Financial Planning

Setting Your Personal Financial Benchmark

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?

Blog Financial Planning

Financial Considerations for Summer Vacations

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. 

Blog Financial Planning Legacy Planning

Sharing Your Financial Wisdom

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. 

Blog Financial Planning

Do You Need to Be Rich to Work With Us?

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. 

Blog Financial Planning

The Ideal Financial Client

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. 

Blog Financial Planning

5 Financial Assumptions to Let Go

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. 

Blog Financial Planning

Fools Gold & Hidden Gems

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.

Blog Financial Planning

Starting a Family – Or Not

As a child, I always wondered why my siblings and I and all of my friends had summer or fall birthdays ranging from July 4 through Thanksgiving. We could never figure it out! As an adult, I now completely understand – within each calendar year, there’s a social season and stay-in-and-cuddle season. For all of you with birthdays in that range, trust me, you’ll never look at birthdays the same. Our parents were Netflix-and-chilling before there was Netflix. 

Blog Financial Planning

Is a Refi Still a Good Idea?

With inflation at all-time highs these days, many people are feeling the pinch in their budgets, and are looking for ways to cut costs, tighten the belt, and find a little extra cash. Refinancing your mortgage could still be a way to mitigate those daily effects on your budget. True, rates aren’t at the historic lows we saw last year, but you could still save some money.

Enjoy
the ride.

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