Financial Planning
Do you have a bunch of stock that is hard to let go of?
I recently came across an interesting article in the Financial Planning magazine about the risks of holding on to concentrated stock positions. It talks about how we tend to hold on to large holdings of a single stock for a variety of reasons, including a reluctance to sell a stock because it was inherited or keeping…
Read MoreMyths about Financial Advisors
Over the years as a financial advisor, I have heard many assumptions about a financial advisor’s role. Here are a few myths about what a financial advisor at Verisail is: #1: An advisor should get you out of low-performing investments and into high-performing investments. Myth. An investment strategy that’s based on predicting which investment will…
Read MoreGoing To The Dentist
Honestly, this is embarrassing, and it’s hard for me to share. But, it does an amazing job of explaining how most people feel about their finances so I have too. As of June of this year, it had been ~5 years since I stepped foot in a dental office. Before that, I was inconsistent at…
Read MoreGreatest Pet Peeve About Your Spouse?
My wife and I were on a weekend couples trip last year for a running event I was participating in. We didn’t know the other couples very well so we began to get to know one another. Someone asked the question…”what is ONE pet peeve about your spouse?” Lovingly, my wife chimed right in and…
Read MoreThe advisor who is talking is not a great advisor
Listening is one of the most important aspects of our job. We can not help our clients accomplish their goals if we don’t listen well enough to hear them. Furthermore, each client is different so we must listen with fresh ears rather than with a preconceived idea of what their priorities are or should be.…
Read MoreThe Tax Deduction Trap – “Guest” Blog
I have a good friend who has started a financial planning company. He has a passion for helping his clients establish good habits and keeping them on course throughout their financial journey. So, we thought we would share a recent blog post of his. Enjoy the following by Michael Spencer with Wise Pace! The Tax…
Read MoreDebt…Right or Wrong?
It’s neither! It’s not an issue of right or wrong; it’s a matter of risk. What is debt? Debt is borrowing money to buy something and paying it back over time with interest. This includes your home, car, vacations, appliances, education, or anything else. What do debt and risk have to do with each other?…
Read MoreIRA Required Minimum Distributions
Each year, we get questions about Required Minimum Distributions. We’ll call them RMDs from here on out. What are they? When do I have to start taking them? How much do I need to take? Can I keep contributing to my retirement accounts if I’m still working? Let’s address these questions. What is a Required…
Read MoreVerisail’s Secret Revealed. Step 6 – Tax Planning
Over the last few weeks, we have been revealing our financial planning process at a high level. We started with goal setting and have progressed through various topics such as budgeting, retirement, insurance, and estate planning. Last week we talked about estate planning and the importance of ensuring that your assets pass to your heirs like you would have…
Read MoreVerisail’s Secret Revealed. Step 5 – Estate Planning
We’ve been revealing our financial planning process over the last few weeks. Last week we talked about insurance and risk management. This week we are looking at estate planning. Estate planning allows us to be proactive about deciding how our assets are inherited or given away at our death. It also allows us to consider…
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