Insuring Your Future
Key Takeaways A recent study found that 75% of young people, parents with children, don’t have life insurance. Some of the reasons given for not having life insurance were that they don’t like the process, they have a false sense of security, they prioritize paying off student debt, they are saving for a home, or […]
Building Your Retirement Pyramid
Key Takeaways A recent Aperion Cares survey found that one third of Millennials thought they could live off $200,000 in retirement. AARP says today, you need about $1.18 million to live off $40,000 a year in retirement. While it may seem daunting, getting to $1.18 million by the time you retire is not hard considering […]
Investing Expectations
Key Takeaways There’s a big difference in what the Millennial generation expects in terms of returns on investment in the stock market versus what their parents, the Boomer generation, expect. Going back over 100 years, the return on investment in the stock market is about 10%. There are three things to keep in mind when […]
Cryptocurrency Confusion
Key Takeaways There’s a lot of confusion with cryptocurrencies and blockchain right now, especially since it’s been acting like a bit of a gold rush, causing people to spend a lot of money on something they may not know much about. Applications and the blockchain are very complicated to understand, but there is a lot […]
Don’t Be a Financial DIYer
Key Takeaways Doing your own financial planning comes with risks that can prove to be quite costly as your finances grow and become more complex. Starting off in life with a robo-advisor or digital platform to do your own financial planning is fine, especially when you have limited resources, but make sure it’s a reputable […]
The 50% Rule
Key Takeaways If you get a raise or your income increases for some reason, use the 50% Rule to take half of that increased income and save it or pay down debt. Many times when we have an increase in income, we spend it on things we don’t really need. That new increase in money […]
The Financial Advice Middle Ground
Key Takeaways The Millennial generation grew up in a time of financial uncertainty with the Dot com bubble and the Great Recession, and thus they are leery of the financial industry. Millennials love the online world, but it can often lack the connection they are looking for, and the traditional advisor world is too formal, […]
The “Freedom To” Future
Key Takeaways The current generations heading in to retirement no longer like to use that word as it holds a negative connotation, instead, think of that life transition as freedom from to freedom to. The Millennial generation has a different outlook from previous generations in terms of how they want their life to look and […]
Financial Confidence Versus Competence
Key Takeaways There is a big difference between having confidence in your knowledge of something, and having actual competence in it. To bridge the financial confidence to competence gap, you need to look at your dangers, opportunities, and strengths. Making good decisions about your money requires understanding your limitations, and sometimes seeking additional experienced help.
Have a Path and a Plan
Key Takeaways When you have to make a financial decision that could have a long term effect on your financial future, you want to have a path and plan in place. Some of the big decisions you want to be clear about are taking on student debt, buying a house, a car, or any other […]