The series, “How Do You Plan For Retirement” is designed to help you get targeted information that will help you avoid some common mistakes.

  • How Do You Plan For Retirement (Series): When Should I Invest in the Stock Market
    The stock market continues to hit new highs in 2013.  The market goes up and down and makes you dizzy trying to figure out how do you plan for retirement in a market like this?  To complicate matters, you have a boatload of cash in your retirement account and you are asking yourself, “When should I invest in the stock market?” How Do You Plan for Retirement When The Market Is At Record Highs? According to CNBC, the S&P 500 climbed 1% to reach a high of 1650.34 on May 13th with Financial Companies leading the way (i.e. Banks).  Businesses owners are optimistic, yet
  • How Do You Plan For Retirement (Series): Can I Retire Early?
    The PowerBall sign said the jackpot was up to $590 million during my morning commute.  After 20 seconds of daydreaming about how I would spend the millions, I was quickly brought back to reality when traffic slowed.  The dream of my private helicopter would have to wait. When I was in my 20s, I thought I would want to work forever.  However, now that I am in my 30s I often daydream about how early I could retire.  I know that I want to have about $80,000 a year of income when I retire.  Can I retire early?
  • How Do You Plan For Retirement (Series): Basic Strategies in Planning For Retirement
    When I was a financial advisor, I worked with a client who sold all of his mutual funds in his 401k in 2002 (see chart below).  He did this out of fear after the 2001 stock market crash.  Jim came to me in 2007 because he wanted to retire.  We reviewed the amount of money that he had saved and then reviewed his retirement target date and income needs.  We reallocated his 401k with mix of stock and bond mutual funds based on his retirement date.  Unfortunately, less than a year later he informed me that he had a heart
  • How Do You Plan For Retirement (Series): What to do with that 401k Rollover Check
    “Bank error in your favor.”  You just received a huge check in the mail from your old 401k account.  What are you going to do with all that money? Welcome to the latest in the, “How Do You Plan For Retirement ” series.  Today, we are going to discuss what to do with your 401k rollover check and give you step-by-step instructions on how to handle this. In the past 13 years, I received two checks in the mail from my 401k plans.  The first check came in June of 2000.  I received about $1,800 from my 401k at State Farm.
  • How Do I Set Goals: What You Can Learn From Monsters University (Part 1 of 2)
    How do I set goals?  I just took my daughter to see Monsters University.  After the movie was over, it hit me that my daughter could learn a lot about setting goals from this movie.  This movie can also teach you a lot about setting goals for your personal finances.  Following the plot of the movie, here are some best practices for setting goals.  (SPOILER ALERT!!!) How Do I Set Goals Know your goal and be specific (no matter how unrealistic).  The movie starts with Mike Wazowski as a young kid going on a school field trip to the local power
  • Total Money Makeover by Dave Ramsey Review
    The media world of personal finance has three primary leaders, Jim Cramer, Suze Orman, and Dave Ramsey.  This month, we will look at Dave Ramsey’s Total Money Makeover.  At a young age, Dave Ramsey was a millionaire and lost it all because of debt.  He was forced to sell some of his “stuff” that he loved most, like his Jaguar.  After hitting bottom, Ramsey climbed out of his hole of debt to once again become a millionaire.  The Total Money Makeover is the plan that you can use to climb out of debt like he did. Who is the Total Money
  • Rich Dad Poor Dad by Robert T. Kiyosaki Review
    I left work today and it was pouring down rain.  As I pulled out of the parking lot and into the office park, traffic came to a stop.  As I crept along, I passed different roads that could have taken me to my final destination.  When traffic was good, I never took these roads because they were longer.  Now that traffic was bad, I was afraid to take an unknown path because I was unsure of the outcome.  Would it get me where I wanted to go faster or would it be a big mistake?  I followed my comfortable path
  • Don't Be This Guy! Face the Hard Truth
    I was traveling for business last week and charging my phone in one of Delta’s charging stations.  The terminal was fairly empty and a man was sitting next to me using the same charging station.  He was an older gentleman in his late 60s, wore a nice dark suite, and had a friendly, kind of grandpa like demeanor.  He was talking to a relative on the phone.  He hung up and apologized for the conversation.  I told him that it was no problem.  He said he was talking to his son who was looking for a job. After talking about
  • What Does My Pay Stub Mean - Pay Stub Details Part 1 of 2 – Budget Life!
        This week in the Budget Life! series, we are going to review a pay stub and learn about all the pay stub details that are listed.  In the image above, you will see my pay stub details.  I’ve scrambled many of the details, but you can see the main headings.  Let’s jump right in. Pay Stub Details – Top Part of the Pay Stub At the top of every pay stub is the personal details of you and your employer.  While the laws vary by state in regards to what goes in your pay stub details, you can
  • What Does My Pay Stub Mean - Pay Stub Details Part 2 of 2 – Budget Life!
        This week in the Budget Life! series, we are going to continue our review of a pay stub.  In the image above, you will see my pay stub details.  I’ve scrambled many of the details, but you can see the main headings.  Let’s get back to it. Pay Stub Details – Deductions Deductions are broken into two categories in your pay stub details, before tax and after tax.  Before tax deductions are those are taken out of your pay check before Uncle Sam gets his hands on your money.  After tax deductions mean that you pay taxes on
  • Types of Goals - Budget Life
      A tourist in New York City walks up to a man playing the saxophone on the street and asked, “How do you get to Carnegie Hall?”  The street musician replied, “Practice man, lots of practice.” In life, especially in your finances, you need to set goals to get where you are going.  Today, we are going to walk you through the different types of goals and later this week we will discuss how to set goals.   Types of Goals There are four types of goals I’m going to cover today.  The first three are distinguished by their time