All Things Financial Planning Blog

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When an ETF is Not a Monetary Investment and Other Random Thoughts

Due to increasing time demands, this is my final contribution to our blog here – and I’d like to summarize some points I’ve tried to make in this space before. ETF in this case, refers to Eat That Frog!, a wonderful little book with a big idea by Brian Tracy. The big idea is a simple, yet powerful one. Do the one thing first each day that you’d really like to put off doing the most. In good financial planning, we know we should pay ourselves first in a high amount (savings) but we keep putting if off because of other pressing obligations. Go eat that frog first thing today.

Do you know your personal rate of return? I’m not talking about what your mutual fund returned or your stocks or your bonds; I’m talking about calculating what you, individually have earned in the time you’ve owned each investment. This is different from an investment’s rate of return and the only rate that matters. Let me explain the difference.


During the 20 years ending 12/31/2008, the S&P 500 Index averaged 8.35% a year. The average equity fund investor earned 1.87% in the same period due to behavior of buying high and selling low.

But it’s getting better! At the end of 2009, the average 20-year equity fund investor earned 3.17% per year.1 

What it really takes to retire – a LOT of money. More than most people think. For example, I am seeing clients that will go from $16k/month in income while working to $4.6k/month in retirement income due to a lack of savings. 

How much should I accumulate? Rule of thumb on savings (share this with as many young people as you can) – 17% of gross for future lifestyle and another 2% of gross for future healthcare expenses. This is the ideal from your first paying job. If you’ve been saving less, then you need to save more now.

How much can I spend from what I accumulate? Another rule of thumb – expect to withdraw 5% of whatever balance you’ve accumulated to make up your ‘paycheck’ in retirement. Add any pensions and social security to that (and any other known income) and you’ve got what you can expect to ‘earn’ in retirement.

Remember the 3 D’s of most good things for you and in life: Decision, Discipline, and Determination. Maxing out those three traits when you go after a goal (like saving) will be the key to getting it done. I’m going to go tackle some frogs – happy eating!

1 Dalbar, Inc.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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The Road Less Traveled

Another Memorial Day weekend for the books and the living was easy . . . It’s been awhile since I spent much time in a national park. This year for Memorial Day, my fiancée and I decided to hoof it through the Shenandoah Valley National Park from Friday through Monday. Having made reservations at the Skyland Resort, we arrived in time for a leisurely stroll Friday night prior to the Chef’s Table dinner. No kidding, you can have a fabulous wine dinner at a national park these days. We enjoyed wines from Washington state and Virginia. The food was outstanding; spring roll, endive salad, roasted spring onion and fig stuffed pork loin, Valrhona chocolate soufflé. So much for campfire dinners!

Later that night, a magnificent thunderstorm roared through. Early Saturday morning, the weather now clear and warm, we hit the stables for an hour-long trail ride. Midnight, my horse, was used to being the lead and this particular morning, relegated to third in line. Nevertheless, we saw beautiful forests as we walked along. The first hike we enjoyed was Hazel Falls and Cave. According to the reference book we were using, this trail was supposed to take 4-5 hours. We began a mild descent into a mesmerizing green carpet of soft grass under mature tall forest that took us along the path for about 5.4 miles in all. Knowing we were headed downhill most of the time, we knew it would take longer to come back – this is an in and out trail, not a loop. The last .2 miles were steep and rocky and then we were rewarded with amazing rushing falls and several caves. We stayed for a ham sandwich lunch with fruit. Heading back up, we took a gingerbread cookie break about halfway. The roundtrip ended up taking a little under 3 hours. 

The second trail of the day was Stony Man – an easy loop of 1.4 miles up to 4,011 feet and gorgeous views. Tired and hungry, we had another good hearty dinner in the resort dining room. Sunday morning we went to Hawksbill, the highest peak at 4,051 for another 2.8 mile loop. In the morning paper, there was a story about Bigfoot and I told my fiancée I wanted to see Bigfoot or a black bear on today’s hikes. Be careful what you wish for – we encountered a bear about 20 yards off our right early on Lower Hawksbill Trail. We watched him, he watched us and slowly we crept by him hoping he would stay where he was – and he did. I can tell you that particular trail went by in a flash and at the summit we got more panoramic views of the valley below. The last trail of the day was Rose River and Dark Hollow Falls, another 4 mile loop. The book said the trail was moderate in difficulty and here the book was pretty far off – it was strenuous the entire way and very, very rocky. Rewarded by endless falls, we were famished after 2.5 more hours.

Sore feet were a small price to pay for such beautiful and essentially free ($30 for an annual pass) weekend entertainment. The Skyland Resort is reasonable and rustic. If we had relied on the Trip Advisor ratings for the resort, we might not have booked it. I’m not sure how people’s expectations get so far from reality but our stay was in a clean, large room with private bath and big windows. 

What does any of this have to do with financial planning? The best financial planning in my mind always includes a way to put elegance into your life along with the other things you care about. So in this case, we took a risk by staying at the resort and were well rewarded with good food, good care, and good accommodations. We found elegance along each and every trail either in the forest or the people we came across. It didn’t cost a lot of money but seemed priceless on a few levels particularly in the quiet of the woods. No planes, trains, or automobiles, no radios, just occasional laughter and talking. We brought our own champagne to celebrate Sunday evening. We were able to drive there rather than fly. Do you have any jewels like a national park near you? I hope you discover a similar way to enjoy your summer that’s also easy on your wallet. Please share your Memorial Day experiences in the comments.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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Ways to Play this Summer!

Ways to Play This SummerCan’t afford $3K for an Italian getaway this summer? Not to worry – summer comes in many forms. Let’s take a look at what we can do for a very reasonable amount of money. As always, it pays to do the math to see if you are really saving money.

Sailing away – how many weekends a summer could you and your family commit to getting out to go boating? If you don’t own a boat, you can join a boat club or rent one on many lakes for the day. Although all boating is relatively expensive, boats are quickly depreciating assets so if you fund only those outings you can actually get to, say 4 times a summer, you can save a lot of money. Search the internet for boat clubs in any state where you’d like to boat.

Snorkeling – just about the cheapest way to see the undersea world, rent some fins, a mask, snorkel, and vest and get out there! Go to and find a group going out to a beach near you.

Sand & Sea – go to and plug in the summer destination of your dreams and start packing! Check the moon cycles and if you’re going to be on a beach at full moon, look for others there who celebrate these special evenings.

Wine festivals – want to cool down with some fine wine, fast cars, and beautiful surroundings? Head to the Finger Lakes Wine Festival this July and take in a car race at Watkins Glen while you’re there.

Concerts – here in Northern Virginia, we’re fortunate to have Wolftrap’s Filene Center and one of our favorite evening’s there includes the Louisiana Swamp Romp featuring Marcia Ball, the Dirty Dozen Brass Band, and more. We have our summer picnic spread on the lawn for this foot stompin’ romp complete with wine, food, and friends. What’s playing in your town?

Find a drive-in movie theater to enjoy on a warm summer evening. Rent a cool car for the evening to see it and then drive under the stars. If you can’t figure out how to make summer memories at a drive-in, all I can say is you’ve lost the kid in you.

Get lost – hit the trails and take only water, a camera, and a friend. Get in deep enough to hear some silence. Maybe you’ll get really lucky and hit an undiscovered stream to wade in. 

Same thing by car – don’t have a plan, stop in a town unknown to you, try some different food, and take in an unexpected tour along the way.

Summer can feel way too short – so whether you have small funds or time is tight, get out there!

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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It’s Hard to Be Me

It's tough being a financial planner sometimesI meet new people almost every day. It happens for multiple reasons, not the least of which is because I engage people in conversations wherever I go.  I do this because I’m interested in the people and their challenges and because it feels like time well spent. While I enjoy hearing their stories, they usually get a pained look on their face when we get into the story of my work. What if we’re standing around having a lovely conversation and on the topic of my work, which is financial planning, and I told you:

  • You need to save at least 17% of your gross pay for future lifestyle and another 2% for future healthcare costs, so let’s just round that UP to an even 20% of gross for annual savings;
  • You should carry these insurance policies: short-term disability, long-term disability, long-term care, life, auto, home/renters, and liability;
  • You should manage your taxes as part of your overall planning;
  • You should have three to five years cash needs on hand, and invest the rest in a diversified low cost portfolio; and
  • You should have a current will, health directive, and power of attorney in the state in which you live.

Wanna be my client? All of the above is true. But this kind of truth hurts. It sounds like a financial tsunami of work, pain, and deprivation. I wouldn’t want to be my client. So, I change up the story and it goes something like this: 

New acquaintance: “So, you’re a financial planner – whew! It’s so hard to save and I don’t really have any money. Besides my job is in jeopardy, I’m raising my kids, and helping my mom out. But my husband’s job is secure and everybody’s healthy.”

Me: “Those are wonderful things to celebrate – both your husband’s secure position and everyone’s good health! I know the pressure you’re feeling and I see this often in the lives of the folks I work with. It can take up to a year, but by the end of that time, they are stabilized financially and building for the future. Have you ever worked with a planner before?”

Most of the time, when someone is truly interested in their financial future, they decide to work with me to get past the roadblocks they have been faced with prior to our meeting. While the list of things at the top of the page is technically correct, there are lots of ways we get someone to a new, more stable place financially that includes a path that is digestible, workable and dare I say it, even fun along the way. It is often encouragement and discipline that is missing from someone’s efforts to get healthier financially. And if they’ve been accustomed to getting their ‘professional advice’ from a TV reporter or newspaper columnist, neither of which would have benefit of their particular details or have a fiduciary responsibility to put you first, we can almost always immediately improve their investment choices to lower cost and better funds. 

The prescription I have to share with clients can be tough medicine and that’s the part where it can be hard to be me – but truthfully, I have the best job on the planet. When clients work with me in their own best interest, wonderful things begin to happen and making that difference in their lives is humbling and affirming.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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Money Seasons – How Can We Get More Summer in Our Lives?

Money Seasons - How Can We Get More Summer in Our Lives?Is it winter, spring, summer or fall in your financial house? Following the solstice and assuming residence in the northern hemisphere, winter officially ended March 20 just after lunch and we’ll get to summer June 21 as we sit down to breakfast. Spring is that suspension bridge between the two. Some days are dark, wet and windy and others are filled with the music of birds, the tease of tree blossoms, and warm sunshine. 

What do the seasons mean to you? How can you get more summer in your life? And how can we connect the seasons of the hemisphere to the seasons of our financial lives? As I’ve written about before, we have a lot of folks stuck in their own version of a financial freeze – a never-ending winter. I’ve seen clients who quite literally hibernate when it comes to their own finances. I never wonder about how many winters I have left but I do daydream about how many summers I have left. And then my thoughts move to how I can get more ‘summer’ in all aspects of my life. 

To me, summer means: lazy days, sultry nights, cool drinks, light(er) food, the movement of water, the sound of water, the coolness of water, hot sun, sleepy breezes, the shade of  a good tree, longer light, more walks and more fun. I revert to a childhood delight of riding a bicycle without gears, with foot brakes, and no helmet (My sons are grown and so no fear of prying eyes to remind me of the helmets they wear). The feel of the wind in my hair is one of those treasured experiences that no amount of ‘common sense’ could convince me to alter for myself. 

I am frightfully full of common sense however when it comes to personal finances. Not only is it my life’s work, but I want as much ‘summer’ as possible in my life and that means I have do things in such a way that ensures I won’t have too many winters or freezes on my financial goals. 

So we’ve got just under 6 months until the Fall Equinox arrives about lunchtime on September 22 and another of life’s summers will be behind us. What can you get done between now and then to insure that your financial life is more like an endless summer? Start with savings – are you saving as much as you can and as much as you need? We know that somewhere around 20% of gross income is optimal and that 10% is not enough. Next take care of your health – we see retirees sending their hard-won savings off to health care bills instead of travel. Continue to build your communities and your capital – are your job skills where they need to be? Think about expanding who you know and developing the things that interest you outside of work. It’s always later than we think – the best time to get going is right now – as spring leads us into our next summer.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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Things That Make You Go “Hmmmmm “. . .

Things that make you go "Hmmm..."There are lots of things that don’t make sense on any given day but sometimes it feels like lots of things don’t make sense in a relatively short time frame. That’s what it has felt like to me in this new  year 2010 and I wanted to share some of them. Maybe these are things that make you “hmmmm” too. 

The government shut down for 4 to 4.5 days in February this year (you would think it would be obvious how many days it is, but it’s the government after all and it depends on which source you read) and at $100 million a day it was certainly expensive. What makes you go “hmmmm” though is that few people seemed to notice that it was even shut down. Since the world didn’t end (or blink) couldn’t we consider doing this on a monthly basis?

Reuters reports that there is little ethical discussion of what activity is ethical or not in a modern economy, even though 2/3 of those asked at the World Economic Forum said they believe our current problems are the result of a crisis of ethics and values.

There is this basic law of nature (the financial kind) called Time Value of Money and in a nutshell, it says it’s better to save the dollar you have today and earn either interest or invest it versus waiting until more time passes to do either. An essential piece of this is that once time has passed, it can never be recovered. So waiting to save and invest costs you many more dollars in the future than today. What makes me go “hmmmm” on this one is that when you’re young, full of energy and optimism and presumably healthy, this would be an ideal time to start saving up to 20% of your gross income so that later when a spouse, kids, house, job changes, starting a business, retirement come in later, you can weather those changes more easily and those early savings have been spending their days compounding! It’s like an installment plan in the direction of your dreams.

The turf regulatory wars may not require brokers and other colleagues to put their client’s interests ahead of their company’s interest. This is pretty basic — do you want your financial professional to put you first or their company first? Your legislators are not in agreement that you should be put first — “hmmmm.”

The average taxpayer gets a refund close to $3,000. If any of the taxpayers who are getting large refunds are also carrying credit card debt, they could be reducing their debt by simply lowering their withholding. 

There are lots of head scratching things going on in the world — lots of things that make you go “hmmmm”.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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A Confidence Game

A boy with his piggy bankWhat is the difference between financial confidence and financial independence? I define financial independence as accumulating enough money and property to no longer be dependent on employment for living expenses. Achieving this status is something most of us aspire to if for no other reason than to be able to retire from our day jobs eventually. It would seem that many folks are not going to achieve this at least on the timeline they’d hoped to. Already we are seeing retirees and near retirees who relied on hope, limited knowledge, and market returns to get them to independence by an age they determined long ago would suit them for retiring from employment.

Financial confidence is knowing that even if you do not have independence yet, you have resources you can tap to continue to work toward independence. Your health remains good, your mind remains curious, you can and still want to contribute. Financial confidence seemed in much greater supply before the market downturn in 2008. Now I routinely see folks who are worried about their ability to work, stay healthy, and save enough to get them to independence. 

At this moment there are some signs that the economy is turning around. As good as that news is, it doesn’t soften the impact of more than 2 years of financial pressure. Lots of people have reached the end of their ropes, financially.

Desperate times call for desperate measures. There is a very old tradition of a spiritual fast which is practiced differently by those who participate but in general it involves at least 3 days of water-only fasting followed by some period of light, healthy foods such as fruits and vegetables. My friend who does this finds much peace in the process. 

Is it possible to adapt the idea to your checkbook? Michelle Singletary, personal finance writer for the Washington Post, has a much stricter fast in mind in her new book, “The Power to Prosper: 21 days to Financial Freedom.” The rules of the fast are deceptively simple. She suggests not using your credit cards during the 21 days and for those 3 weeks buy only essentials, such as gas, food and medicine. And ‘food’ does not include eating out anywhere for those 3 weeks.

Could you do it? I’m not sure I could but I’m warming to the idea just to see if I really could. I think it might help my financial confidence a lot.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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Love is in the Air – Planning Past the Wedding

Couple getting marriedHave you noticed the magazine covers this month? Not that one — Sports Illustrated notwithstanding, you are probably looking at several wedding covers on the magazines in your grocery checkout line. If you have young adults in your family, chances are you’ve experienced the wedding vortex on some level or may soon.

If you are a young adult, you may be planning for this or have friends who have been through it. Noting that this one-day party leads (hopefully) to a lifelong marriage, we want to take a look at what young couples might discuss before the big day and how they may prepare for a mutually satisfying financial life together. If a wedding takes up to 16 months or so to plan, it seems reasonable that some of that time could be spent learning more about the financial habits of the person you intend to spend the rest of your days with. It is interesting to me that almost every media mention of a wedding includes the strong recommendation to hire a wedding planner but you rarely see it mentioned that the couple should hire a financial planner first. Let’s take a look at just some of the things that might be revealed by working with a financial planner as you set up your lives together.

I am working with a young woman now who was already a client and now that she is getting married, she is asking great questions about her future financial life with her fiancé. My client inherited some money at a relatively young age and she is wise to seek counsel regarding how her financial life as part of a couple will be different. Our last quarterly meeting included the announcement of her engagement to me, her planner, and that her fiancé will be in our next quarterly meeting as they develop their plans.

Everyone has a financial personality. There are varying degrees of course, but bottom line; people are either a spender or saver to some degree. And everyone has a money history. That money history often informs how someone deals with money today. If we declare neutral ground (the planner’s office), and lay some ground rules; there are no wrong answers, only discovery, our purpose is to learn about each other and share each person’s history and needs and wants. 

Money History:

  1. When you were growing up, did you believe your family had enough money, not enough money, lots of money, or it never came up?
  2. When you grew older, was what you believed about the money in your family true?
  3. Was money discussed in your family? How, how often, in what context?
  4. Were you given any instruction around money as a child? (Save for a rainy day, tithe, work odd jobs for pay or ‘don’t worry your pretty little head about that, Daddy’s got it covered’)
  5. Did you receive allowance as a child?
  6. Did you perceive your parents were similar in their money habits or different?
  7. Did you identify with one parent over another in the way they handled their money?

Financial Personality:

  1. Do you think of yourself as a spender or a saver?
  2. Do you have a checking account and if so, do you balance it monthly?
  3. Do you pay for most things with cash, credit card, debit card, or a check?
  4. How many credit cards do you have and how many do you use?
  5. Do you carry a balance on any of them?
  6. Have you ever maxed out your credit cards or made late payments?
  7. Do you know your credit score? If so, what is it?
  8. Do you research major purchases?
  9. Do you track your expenses?
  10. Do you make many impulse purchases?
  11. What are the terms (rate, term, payment, total amount owed) of the debts you have?
  12. Do you understand each line of your paystub?
  13. Do you have health, disability, and life insurance?
  14. Do you have any outstanding debt collection issues (taxes, liens, past due accounts)?
  15. Do you own any investments?
  16. Are you working with a financial planner?

Going forward, together?

  1. Would you be willing to work with a financial planner to let them to establish a relationship, collect all our data, work with us to develop our mutual goals, develop recommendations for us, implement those recommendations on our behalf, and then help us monitor our plan going forward?
  2. Is either of us planning additional schooling?
  3. What is our approximate timeline for starting a family if that is in our plans?
  4. What are our mutual goals (owning a home, starting a business, travel)?
  5. What constraints are we facing (one of us may have to re-locate; one of us may have to assist an elderly relative)?
  6. Is either of us expected to inherit money? This can be a source of sharing resources but the couple will want to explore legal options for keeping the inheritance separate from shared monies.

Exploring these conversations with the person you care most about can enrich your futures in ways that will allow each of you to enjoy your mutual and shared resources throughout your lives together.  When you think about hiring the wedding planner, make sure you make an appointment with your financial planner first. Then you can get out there in the world together and go in the direction of your dreams.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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It’s All in the Family

When planners work with families, a lot of storytelling goes on. The family tells their financial stories of how they got to this place in this time and planners will often share their own stories and anonymously, they may share the hard-won experience from other client cases. Every family is different and most of us have a preference for the tone and tenor with which we like to share things inside a family. With that in mind, let’s explore some basic conversations that are helpful to have in every family.

It can be true that children learn what they live. So as parents, first take a look at your own money history. What did you learn about money that you may, for better or worse, be teaching your children? We can model what we want them to learn. 

An early discussion about both parents’ contribution to the household seems appropriate to helping children understand that everyone is pitching in. If one spouse works inside the home, recognizing this person’s contribution is important. And for those working outside the home, that contribution should also be recognized. When financial strain hits a family, it can be instructive to talk about its impact and make it easier to support each other until things get better. 

The families I’ve seen that are the most successful when transferring knowledge about financial stability and success are those that have enough conversations around money that a lot of the mystery around it is dissolved. 

Even in a capitalist society we do not infuse our K-12 curriculum with financial education so if it doesn’t happen at home, it’s not likely to get covered. That can mean some very rough sledding ahead for those who do not have the benefit of a lifetime’s worth of conversations on all things financial.

Other conversations that may be helpful to have throughout childhood could include:

  • What does ‘being wealthy’ mean to you
  • Choosing your own path vs. what neighbors and friends might choose
  • When to get a first job
  • What to expect from those early jobs
  • When you work those early jobs, can the family match your earnings so you can contribute to a Roth IRA?
  • What advanced schooling is appropriate for each individual child
  • Where that schooling will take place (community college, state college, an elite private school)
  • How to pay for that school (will the student work, can an employer pay, will the family be able to help, are loans or scholarships available)
  • Once adulthood is reached, what is a good savings rate to ensure financial security down the road?
  • Emphasize ‘doing the math’ (it’s been surprising and disappointing how many financial decisions are made on hunches or rules of thumb vs. sitting down and crunching the numbers)

Once the concept is understood that money doesn’t know or care who owns it, but that our choices can affect the degree to which we obtain it, use it, share it, and enjoy it; we can move money in the direction of our own dreams. Taking away the taboo of talking about money increases our chances of gaining and keeping perspective around it.

So bottom line, keep talking!

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL

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Shedding the Pain in Your Assets

Most of us make transactions in our financial lives on a relatively frequent basis and then at some point as we organize everything in the planning process, we realize we’ve been collecting and carrying assets that are what might be called ‘nuisance’ assets. They made sense at the time we took them on, but looking at it now, they are just kind of hanging out there on their own. Let me share a few examples:

When my father-in-law passed away, his estate included 10 acres in near Elko County, Nevada, that he took on in a trade for some stock he no longer wanted. There was a side of beef involved as well as I recall but that was consumed the winter of the deal many, many years ago. These 10 acres were to go next to my mother-in-law who had no desire to keep them. Ten acres in northern Nevada were not worth very much 20 years ago and are not worth much more today. But you never know, so the solution we came up with was for her to quit claim them to our two sons who were about 8 and 10 years old at the time. A quitclaim deed is a term used to describe a document by which a person (the “grantor”) disclaims any interest the grantor may have in a piece of real property and passes that claim to another person (the grantee). A quitclaim deed neither warrants nor professes that the grantor’s claim is valid. So my mother-in-law is free of this nuisance asset and my sons can hang on to 5 acres each for the next 40-50 years and then dispose of it in similar fashion if it remains valued low or enjoy the gains should the value of the property rise.

Many years ago, it was fashionable to buy your child a single share of a recognizable stock for them to both follow and learn about the stock market. We did this and the boys got a few shares each of Coca-Cola and Wrigley. Every Christmas, Wrigley would send a huge box of fresh chewing gum for each of them as stockholders. But last year, Mars, the candy company, bought Wrigley and not only did the boys not receive any chewing gum, the ensuing paperwork reminded us that we had straggling shares of stock that needed attention. These days, the boys have shareBUILDER® accounts where they hold individual stocks they want to own. So in an effort to clean up their finances, we sold the Coca-Cola shares that were in electronic form. They will have to visit a discount broker in person to sell the certificate shares. The boys received forms for the Wrigley stock back in the spring of 2009 to easily complete a cash exchange by mail. They promptly ignored these and a call to the company that handles those shares resulted in a new form being sent to each of them. They’ll have to sign the form, send the certificates back in with it and send it all registered mail. They didn’t realize their investment of a few shares many years ago resulted in about $1,000 of shares today so now that they know, they seem a little more anxious to get the form signed and sent.

The last bit of clean up in this new year is getting my account closed for a prepaid toll program in another state. It’s not an account I get billed on – just one that puts money on the account so I can fly through toll booths without stopping but my car has my current state’s prepaid pass on it so I don’t need the other one anymore and haven’t needed it for six months. I just never got around to closing the account and getting my refund. When I called the program to close the account, they put $66.99 back on my credit card which will certainly pay a few tolls in my new state. 

I can’t explain why inertia takes over for in some cases decades on these outlier details in financial planning but now that we’ve taken all the steps above, there’s some pocket change around as well as the knowledge that we are now being intentional about all our money; even the little bits that add up.

bonnieHughesBonnie Hughes, CFP®
American Capital Planning, LLC
Reston, VA / Miami, FL


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