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Tuesday, December 19, 2023

If you’ve explored saving for college in any capacity, you’ve likely heard of a 529 account. These accounts offer the potential for tax-free growth when used for qualified educational expenses. Sounds straightforward,...

 

Monday, December 18, 2023

While the question above isn’t what the acronym “IRA” stands for, it may represent an underlying uncertainty that comes to mind when you hear the term. Individual Retirement Accounts (IRAs) are tremendous vehicles for...

 

Wednesday, September 20, 2023

If you can accomplish several objectives with just one expenditure, then that is a wise use of money.  You can find such a win-win-win by going for — and paying for — a family vacation with your adult children and...

 

Tuesday, January 3, 2023

Are you a parent or grandparent wanting to open an account for your child or grandchild? Confused about whether you should open an UTMA or an educational account (529)? Here is a brief comparison of both accounts as a helpful guide...

 

Saturday, October 1, 2022

In the midst of talking heads and quarterly statements, it can be surprisingly easy to lose sight of one foundational fact: if you hold stock in your portfolio, you are a business owner. The returns or declines you see on your...

 

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Tuesday, January 4, 2022

I’ve never spent much time reading the classic superhero comic books, but I can still picture some of the panels they may contain. There’s a distressed character, eyes bursting with panic, mouth agape as a speech bubble...

 

Monday, January 3, 2022

Many have never heard of QCDs. Quite confusing declaration? Quality cheese dip? Quick call dad? In the financial world at least, QCD refers to a Qualified Charitable Distribution from a traditional IRA. In other words, you’re...

 

Tuesday, February 23, 2021

You’ve heard it before…“If you want to make God laugh, tell him your plans.” This rather proverbs‐ish saying comes from the Bible in Second Hesitations 13:6. Actually, Woody Allen, the not‐so‐proverbial and...

 

Tuesday, December 8, 2020

December 2020 Hmm. Christmas. Pause with me to consider it. Immanuel, God with us. No mention here of the virus-which-must-not-be-named. Nothing but deflections of election-selection reflections. In our family Christmas mailing, we...

 

Thursday, August 6, 2020

We lived in Florida for a few years and this ol’ Kentucky boy had to adjust to a new force of nature: hurricanes. After hurricane Ike hit in 2008, buildings were wiped out and $30 billion of damage occurred. An occasional house...

 

Tuesday, March 24, 2020

I’m not going to add to the repetitive national chorus of how unusual this time period is or the easily-said-but-hard-to-do “Don’t panic.” Here are seven suggestions you likely won’t hear anywhere else....

 

Friday, November 8, 2019

Confused about 529 plans, how they work, and what expenses qualify for distributions? You are not alone. We help many clients navigate planning and paying for their children and grandchildren’s education expenses. Here are a few...

 

Monday, October 21, 2019

In part one of the ways to prepare financially for a baby, I suggested stocking up on diapers, using coupons and avoiding trendy baby items. Here are three additional money-wise steps for your recently enlarged family. Buy used instead...

 

Friday, October 11, 2019

After having two little ones in the past four years, I have learned a few things that can ease the financial burden for anyone. During the day at our office, we help clients with the big-picture financial planning aspects of a newborn,...

 

Tuesday, September 24, 2019

You always look back and think “if I had known then what I know now.” I know I certainly do when it comes to several areas of my financial wellbeing. I compiled a few tips to help younger adults get a jump start on their...

 

Saturday, June 1, 2019

Although I try to share with clients a biblical view of managing money, sometimes clients teach me or remind me of truths. A client recently said, “It’s taken me about 60 years to learn that I don’t need to cry over...

 

Wednesday, May 1, 2019

Noise-cancelling headphones are a game changer. You put these on and outside noises are muffled. I can’t explain the acoustical physics of how they work. But you’re able to focus better if needing to concentrate or sleep on...

 

Monday, April 1, 2019

An upcoming wedding has this father of the bride suddenly attuned to the wedding industry. I’ve just learned about wedding insurance policies and learned that you can insure against “cold feet” (no kidding). The...

 

Friday, March 1, 2019

In Proverbs 22:3, Solomon says, “The prudent see danger and take refuge, but the simple keep going and pay the penalty” (NIV). In a nutshell, Solomon gave the financial principle behind maintaining a reserve, or an...

 

Friday, February 1, 2019

It’s a snowy day in February and you’re ready to clean out your files. What should you keep and what to throw out? Do you really need the bank statements from 10 years ago? Is it really necessary to keep the retirement plan...

 

Tuesday, January 1, 2019

Because I’m a financial geek, people assume that I am also a cheapskate. I beg to differ. Although I do tend toward living “fiscally conservatively,” I’m extravagant in areas that are important to me. I like the...

 

Saturday, December 1, 2018

Employer-provided fringe benefits (insurance, 401K contribution, a company car, subsidized meals, etc.) may be a significant part of your overall compensation. The U.S. Department of Labor estimates the mix of compensation for the...

 

Thursday, November 1, 2018

Whenever I hear “conventional wisdom,” I’ve learned to be skeptical. It’s challenging to strike the right balance between timeless, principle-based wisdom and the accepted notions of the day. However, I think...

 

Monday, October 1, 2018

From working with many families, I have helped parents plan and prepare for the goal of assisting with their children’s college education. But much like a priest counseling someone toward marriage, I only had a technical...

 

Saturday, September 1, 2018

I love the title of a book in my library about the frantic pace of modern life, “Little House on the Freeway.” (Too bad that I’m too busy to read it!) With all the technology to save time and effort, it still seems...

 

Wednesday, August 1, 2018

When our daughters were young, we enjoyed celebrating their “half-birthdays.” We didn’t give any presents, but my wife would make one-half of a birthday cake. Then, our girls would no longer be six, but they would...

 

Sunday, July 1, 2018

Financially Married or Marred? After 69 years of marriage, I think my grandparents qualified as marriage experts. They survived as farmers, which is no easy task. They started with nothing, worked hard, gradually obtained farmland,...