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20 Second Advisor: Is the Stock Market Divorced from Economic Reality?
Below is an excerpt from an article I thoroughly enjoyed reading. It captures the thoughts and emotions of several clients I’ve spoken to recently, and how/why the market can be so high right now amid all the uncertainty. From its record high on February 19, 2020 the S&P 500 Index1 fell 33.79% in less than 5…
Read More20 Second Advisor: Target Retirement Funds – Good or Bad Idea?
For a lot of investors, the 401(k) is the main savings vehicle for accumulating wealth. 401(k) plans often provide matching contributions which helps you to save more each year, and reach your retirement goals quicker. The downside (in my mind) of some 401(k) plans is that you have limited investment options. It may be difficult…
Read More20 Second Advisor: Hey Parents! Cash for Chores May Create Entitled Kids.
We have three little kids in our family. We are constantly trying to get them to clean their room, pickup their toys…the list goes on. In the past we had a chore system that worked pretty well. If kids did their chores for the day, they got up to 2 “checks” per day (one for…
Read More20 Second Advisor: Live your best life & tweak your 2020 budget
The new year is a great time to take stock of your life’s direction. Review what’s going right and what’s gone off course in your life. Sit down and REALLY think about what you value most. Maybe it’s family. Maybe it’s travel and new experiences. Maybe it’s giving back or solving a societal issue. Ask…
Read More20 Second Advisor: Tale of Two Investors & Using Time to Enhance Wealth
What is the secret to having a great investment experience? A few key things come to mind. One of the great secrets of investing is putting TIME on your side. If you can save significantly when you are young, the powerful effects of compounding returns work in your favor. More time = more wealth! Let’s…
Read MoreBudgeting Trick That’s Easy To Implement
Let’s face it. Budgeting is hard. We sit down and make a budget on paper, but few people actually EVER follow the budget. To me, the key to making a budget that’s sustainable is that is has to be easy, but also holds us accountable. There are 100 different budgeting strategies and systems out there…
Read MoreLifestyle Creep: The Ultimate Adversary To Building Wealth
The key to building wealth is really quite simple. Live within your means, save and invest 10-20% of your earnings, and repeat that process for 30-40 years. If you can do those few things, you WILL be wealthy. Unfortunately, so many families struggle to accomplish this. The biggest hurdle to building wealth is what I call…
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