financial planning

Check out this fun excerpt from my latest book for your reading enjoyment. I used to tell this story to 401(k) participants in enrollment meetings. It’s a real conversation I had with my dad in our garage in 1978! What do you think?

  I have had the opportunity to help many people gain personal financial success over the last quarter decade. It’s been a great ride, and I continue to be inspired by their achievements. How did they do it? I think these seven steps were a key...

In working with successful clients, I’m reminded often that just maxing out your 401(k) rarely cuts it. For most of the families we work with, it takes more than just retirement plan assets to effectively retire. Why? Because your...

The first time I reviewed and worked with a nice bond retirement portfolio it was my grandparents investment account. In the mid to late 90’s I found myself driving down to Temple Texas once a week to help them out with medical and...

We would argue that the most important job of a Financial Advisor is to talk people out of decisions that could have potential long term consequences. A very real test of this came during the first quarter of...

COVID-19 cut hockey season short and we’ll see if my horns make it on the gridiron this fall for football season. In the meantime, it’s property tax season. If you live in Texas, you should have received your 2020 Value Notice by...

In the last four weeks something near the number of 26 million Americans have filed for unemployment. That is a crazy high number that has led to some eye popping GDP expectations for the quarter. Some reports expecting something...

Over the past month, many different areas of the US economy have come to an almost full stop. This as a result of the COVID-19 outbreak, and subsequent reaction of government officials ordering people to stay home. To keep people and businesses...

*4/23/20 Update: EIDL and PPP EIDL and PPP checks are flowing. Remember, the EIDL check you receive is a tax-free grant. Make sure you annotate clearly on your books as something like EIDL – Other Income so your accountant can exclude it from...

A classic either/or question that comes up from time to time in client discussions. Based upon our own life experiences, we all tend to lean one way or the other as it relates to spending now or saving for later. As with many decisions in...

As the New Year turns I would encourage anybody who doesn’t have one, to go get a financial plan put together. But remember, just having one will not solve everything immediately all by itself. It’s a continual process, and your plan gets out of...

Thoughts on Time: Time and again, couples, when they set an appointment for an initial visit will say things like “We’ve been planning on coming to see you for years”, to which I always reply “Why did you wait so long?”.  Generally, their...

Thoughts on Collaboration and Accountability Accountability is a powerful driver of success that most of us want to avoid like the plague. Just like planning it’s not very fun and sexy. Years ago, I decided it was time to get back in shape. At...

Avoid this Investing Pitfall There are often times when we’re too smart for our own good. Our success and genius in our work lives provides a false sense of competency in the realm of financial planning and investment management. For example:...

  Bucket number 3 is money for retirement. This is a bucket we all hope to get started on as soon as possible. Getting started with bucket number 3 at an earlier age allows us to invest more aggressively in order to take maximum advantage of our...

  Bucket number two is used for intermediate term goals. Intermediate term goals are different and unique, depending on your specific needs. Younger professionals my have an intermediate term goal of buying their first home, while others may be...

Money we have in bucket number one is for rather near term financial goals. Because of the short horizon to these goals, they should be invested in a safe manner. An example for shorter term goal would be planning a big overseas trip, or maybe...

Only a very small percentage of Americans will ever experience financial independence. Why? Because just being successful in our professional careers is not enough. We have to know how to translate our professional success into personal...

“I think we’re going to be able to call it.”, Austin says as we review our client’s financial plan and assets on the big screen in my office. We’ve been running and re-running the scenarios, carefully reviewing possible future expenses and...

  You have never heard of any of my heroes, so naming them by name is unimportant. Besides, my heroes are not interested in publicity. My heroes lead quiet lives, in attractive, inviting homes, where their values and interests are on display....

  When should you start saving for your retirement? The most accurate answer is yesterday. Time is by far the most important factor on saving for your future. Starting early, combined with the effects of compounding interest can make a world of...

During the Haiti crisis in the mid-90’s, I was a young sailor on watch. It was a calm, quiet, typical Caribbean sunny day and we were just off the coast of Hispaniola in the Windward Passage. Punching holes in the ocean, is what we called it,...