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...
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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...
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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...
Read MoreYou’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...
Read MoreDecember 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...
Read MoreWe 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...
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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....
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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...
Read MoreIn 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...
Read MoreAfter 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,...
Read MoreYou 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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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...
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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,...
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