Budgeting, Planning & Family Money

When I work with a new client in my financial planning practice, I often come across a condition that I call “financial clutter.” This has many forms, but a common version might look like this: Husband and wife have worked at several jobs and have a number of 401(k) plans left with their former employers. [...]

Since 2003, I have been a member of the National Association of Personal Financial Advisors, or NAPFA, which is the largest professional organization of fee-only advisors. Several years ago, NAPFA created a number of small study groups. The group to which I belong has nine members, and all of us are either solo or have [...]

Recently, a friend asked me to look over his mother’s holdings. His mother is in her late 60s, recently divorced, and on her own financially for the first time. She decided to go with the financial advisor rep at her local bank for some free investment help. Because she didn’t pay for any sort of [...]

When I was 18, I decided I needed a tattoo. Very original, I know. But I was determined. A friend of mine and I went to a new tattoo shop in our college town. I had a coupon for 10% from the local Penny Saver-type paper. In my defense, I was a broke college-kid. My [...]

Anyone who drives a car is keenly aware of the swift rise in the price of gas. This is largely a result of political uncertainty in the Middle East. What impact will the increase in oil and gas have on your portfolio? The answer varies. In some cases, you’ll see a direct positive impact on [...]

You probably already have a financial plan in place that includes an asset-allocation strategy. This strategy helps you control your portfolio’s risk via an allocation among different asset classes. However, your portfolio won’t stay within that allocation by itself. Different investments earn different rates of return, and over time your allocation will become unbalanced. Thus, [...]