Congratulations, you won the lottery! So, now what? Certainly, there’s lots to do. Build a barbed wire fence around your home, start digging a moat, change your phone number… Busy times for the newly wealthy! Before any of that, you have one important decision to make. Probably the most important one you’ve ever had to make. Do you [...]
Archive for July, 2010
So You’ve Won the Lottery. Now What?
Posted in Financial Planning, Taxes, tagged annual payments, cash lump sum, estate taxes, income taxes, Internal Rate of Return, lottery on July 29, 2010 | 3 Comments »
Can You Handle the Four Fat Financial Fears? (A four-part series)
Posted in Budgeting, Estate Planning, Financial Planning, Investments, Taxes, tagged asset allocation mix, financial goals, financial plan, investment policy statement, organization on July 28, 2010 | 2 Comments »
Part 3: Getting Organized Volatility Outliving Your Income Getting Organized When Is Enough Information Enough? I would say that in 9 out of 10 of my initial discussions with people regarding money they say they “need to get organized!” In most cases it’s absolutely true and in many it’s the big cop out to keep [...]
Financial Planning Ideas for Our Military Heroes
Posted in Education, Financial Planning, Spending, Taxes, tagged debt, deployment, expenses, loans, Savings Deposit Plan, servicemember, Thrift Savings Program on July 27, 2010 | 1 Comment »
The servicemember who is ordered to deploy for service in another part of the world to defend our freedom is a very special person and I consider a hero in every aspect possible. This order to deploy requires a lot of planning in order to be ready for this significant change in life style. In our [...]
Building Your Financial Foundation: Watch Out for Money Complacency
Posted in Credit/Debt, Financial Planning, Insurance, Savings, Spending, tagged debt, expenses, Financial Life Cycle, income, Insurance, saving on July 27, 2010 | 1 Comment »
This is the second of a three part blog on the early stages of the Financial Life Cycle. In my last blog post, I introduced the concept of the Financial Life Cycle. This week’s blog is all about the strategies and pitfalls in the first adult stage, and next week I will look at strategies [...]
Looking Out For What You Wish For
Posted in Financial Planning, tagged consumer protection act, disclosure, fiduciary responsibility, regulatory reform, transparency on July 26, 2010 | Leave a Comment »
Sound the ‘all clear’ – you can let women and children back out on Wall Street again there is a new Sheriff in town. At long last we have financial regulatory reform – the ‘Dodd-Frank Wall Street Reform and Consumer Protection Act’ of 2010. Let me first preface my comments by saying that this is [...]
Keeping Score (Part 2): 1 – 2 – 3 Easy Steps to Raise Your Financial Wellbeing
Posted in Budgeting, Credit/Debt, Financial Planning, Savings, Spending, tagged FICO, financial choices, financial crisis, financial journey, financial life, financial needs, financial planning, financial scorecard, financial wellbeing, money behaviors on July 22, 2010 | 1 Comment »
In Part I of Keeping Score, we discussed that it’s helpful to know how we’re doing financially speaking. It’s no different than keeping score like we do in other aspects of our lives, such as when we play or watch sports, step on the scale, count calories, or check our cholesterol. Knowing the score keeps [...]
Summertime and the Planning is Easy
Posted in Budgeting, Financial Planning, tagged equities, financial goals, financial statements, fixed income, risk tolerance, tax refund on July 21, 2010 | 1 Comment »
So much of the year, our financial lives are intensely focused on the sprint and not the marathon. Summer is a great reminder that the exact opposite is what’s really important. While these are often the months that have us as far away from our financial plans as we are all year, using this time [...]
Don’t Throw Your Money Away
Posted in Education, Investments, Taxes, tagged debt, federal taxes, full disclosure, Investments, state taxes on July 20, 2010 | 1 Comment »
As I cleared our dinner table the other night, I scraped some of my uneaten veggies into the trash. I immediately heard my mother saying, “There are starving kids in India that would give their right arms to eat what you are throwing away!” She had a point. Affluence inherently breeds a certain level of [...]
In Memory of ‘The Boss’
Posted in Charitable & Planned Giving, Estate Planning, Values, tagged George Steinbrenner, Jim Leyritz, tax benefit, The Boss, Yankees on July 19, 2010 | 1 Comment »
Jim Leyritz. That name may not mean much to a lot of people but if you are a baseball fan living in Atlanta it means plenty. You see in the 1996 World Series it was Jim Leyritz who hit a three-run home run off of Mark Wohlers to tie Game 4. The Yankees went on [...]
How Well Behaved Are Your Financial Decisions?
Posted in Investments, tagged anchoring, cogntitive dissonance, confirmation bias, investment, over-confident, pride, regret, representativeness heuristic, stock market on July 19, 2010 | 2 Comments »
How well we make investment decisions depends in large part on how reasoned or emotional the decision was. The greater the emotional content the more likely will be the mistake. It is useful for all of us to understand the emotional pitfalls of financial decision-making. An appropriately titled study by a financial psychologist Rashes, “Massively [...]
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Lee Baker, CFP®
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Rick Kahler, CFP®, MS
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Robert Schmansky, CFP®
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Francis St. Onge, CFP®
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Karin Maloney Stifler, CFP®, AIF®
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Somnath Basu
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Sam Hull, CFP®, ACC
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Saundra Davis
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Gelasia Steed, CFP®
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Aaron Coates, CFP® CIMA
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Michael Snowdon, CFP®
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Pamela Sandy, CFP®
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Mike Branham, CFP®
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Edward W. Gjertsen II, CFP®
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Constance Stone, CFP®
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Andrew B. Chou, CFP®
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