Understanding how your savings can work for you is an important part of creating your financial future. If you’re curious about personal finance and want to learn more, here are some common questions we hear from new clients.
In our client meetings, the term “wealth” is often tossed around somewhat loosely. We talk about building wealth, managing wealth, enhancing wealth, and preserving wealth as if the concepts are universally understood. But what exactly is wealth? It’s such a vague term that every person has a slightly different meaning.
Retirement can sneak up on you.
For many families, finances are rarely discussed in detail, even as children mature into adulthood. But as your parents age, especially if they live into their 80s and 90s, there's a chance that they may lose their cognitive function and be less capable of managing various tasks. This can be upsetting for some parents and they may try to fight it, or deny that it’s happening.
You may have heard investors say that a clear investment philosophy is essential to pursuing long-term financial success. And while investment strategy is important, it’s nothing more than a manifestation of an investment philosophy. Strategies can evolve as life changes, but philosophies are the core beliefs, principles, and practices that guide your decision-making.
Saving enough for retirement while carrying and paying off debts can be an uphill battle. For some pre-retirees, debt repayment is the primary focus over savings, leading them to delay or reduce their retirement lifestyle. But if you’ve been struggling to save, It’s never too late (or early) to take steps to encourage you to get back on track.
There are hundreds of articles on the so-called “biggest financial mistakes” that people make and some tips on avoiding them. We’re used to seeing common examples of how peoples’ activities, like overspending or making minimum payments, may get people in trouble. These lists of mistakes could fill a book, but many are rooted in a failure to adhere to basic financial guidance.
We get a lot of questions about investments, especially retirement plans. While everyone has different needs and goals, here are a few common questions we receive, and some basics to consider.
Your 20s are often seen as a true coming of age when financial responsibility opens up the possibility of turning your dreams into reality. You’re settling into life after university, paying off debts, and starting to really define who you are as a person. But with bills, rent, keeping up social appearances, and other pressures, financial planning is often pushed to the side.
Family businesses have been at the core of America’s wealth creation for centuries. Founders take a leap of faith to launch their business, often risking everything they have and spending their waking hours hoping to realize their vision. Some will achieve success, but with success comes a new host of challenges, like balancing the demands of family life and business needs.