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Financial Conversations

For those of you who currently work with us, we’ve been super active during the first quarter of the year making adjustments to your portfolio, and as we always say, the near-3000-point correction in the Dow has since rallied back up 1200 or so points before taking another smaller dip this week.

The Importance of Dynamic Planning

If you enjoy long, boring car rides like I do, you may have searched out some good audio books and podcasts to listen to while you’re cruising. Perhaps some of those even had to do with money and financial planning. The sheer number and volume of financial podcasts out there never ceases to amaze me.

“Do You Do That?”

I often have conversations with friends of friends when I’m out socially that often start with an introduction like, “this is Dave, he manages my money,” or “he’s a financial planner.” I shake hands and say “nice to meet you – what do you do?” At this point the person tells me they’re a contractor, or an engineer, or a teacher, physician, or “I own such-and-such business.” They tell me a little more, and I ask a few questions as we make polite conversation.

Balancing Your Buckets

We often encounter pre-retirees who have worked a career for 25 or 35 years, and are suddenly within that three-years-to-three-weeks timeline of retirement. They come into our office seeking advice, they asked for a referral (thanks!) and called us up.

You’re Never Too Old For Training Wheels

Remember when you were a kid and you learned to ride a bike by using training wheels? Or when you first went bowling and they put out the bumpers for you? Or maybe you’re helping your own kids and grandkids learn to bike and bowl with training wheels and bumpers. Here at Family Financial Partners, we believe training wheels and bumpers are important in your financial lives as well.

When to Hire a Professional

For all conversational purposes, 2017 has been a cakewalk for most investors. All you had to do was buy an index fund, and, depending on which one you bought, your investment may be up. For me to suggest that you had a diversified portfolio that lost money is ludicrous. Except for the people who own just energy stocks. They’ve lost. But, energy was the big winner last year, so they’re fine over 24 months.

Where is Your Money? Why is it There?

Any of you who know me well know that I have no qualms with the idea of asking someone to work with me and my team at Family Financial Partners. After 20 years in this industry, I know that pretty much everyone I talk to already has a financial planner or team that they work with. I also know that the majority of the people I talk to are being underserved, or they’re not happy with their current investment portfolio.

Mistakes in Banking

Many of you who don’t work with us probably think it’s normal to accrue somewhere between .25 percent and .75 percent on your emergency fund, and that it’s normal to have bank IRA CDs that recently rolled from 1.25 percent to .25 percent. When we ask new folks why they think this is normal, the response is usually, “That’s what the banker told us.”

Rising Interest Rates – Things to Consider

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.

March Money Madness – Diversification and Vegas Odds

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!

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