Tag: Saving
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Financial Planning and Advice for Millennials
Building wealth in your 20s and 30s looks different. The traditional financial service industry targets the retirement market, as that is typically the height of wealth for most families. Financial advisors usually attempt to get their investments and charge a percentage or sell annuities that generate commission-based and ongoing fees. Either way, financial services focus…
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Emergency Fun(d)
What is an emergency fund? An emergency fund is a reserve of savings used expressly for unplanned expenses or financial distress. Whether medical bills or a car repair, an emergency fund is a cushion that absorbs those unexpected expenses. Ideally, an emergency fund will keep you from raiding your retirement savings or, worse, taking on…
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What A Year This Quarter Has Been
It has been a difficult quarter for investors. Major indexes entered bear territory (means down 20%). US treasuries, generally the safest of assets for when investors are scared, have had their worst year since the 70s (when interest rates go up, bonds go down). Commodities, which I generally say “they suck until they don’t,” have…
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How Much To Save for College
It’s no secret that college is expensive, and college education costs have only accelerated over the past decade. The staggering cost of college and its acceleration will be a significant challenge for millennial parents to meet. Parents want to know first: “How much do I need to save for college?” How Much Should I Be…
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Beginners Guide to 529 College Savings Plans
A 529 plan is a savings plan is one of the best ways to save for tuition or college expenses. A 529 offers many tax benefits and designates an individual’s tuition and related education expenses. The two main 529 plans are prepaid tuition and more typical college savings plans. Prepaid tuition plans allow the account…
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Is It Better to Pay Down Debt or Invest?
One of the most common questions a financial advisor gets is paying off debt vs. investing. More specifically, is it better to pay down debt or invest? Should you delay retirement savings to pay down a mortgage or student loans? Should you pay off debt before starting an emergency fund? The simple answer is that…
