A client reminded me of some good budgeting advice this morning; I thought I’d pass his comments along.
When people speculate about what spending will look like in retirement, they usually come up with some version of the go-go, slow-go and no-go phases. They assume spending will stay the same or increase for several years while catching up on the fun missed while working (go-go), that they’ll slow down after that (slow-go), and at some point will reach “no-go”, wher
Clients who want to retire before they are eligible for Medicare (age 65) are often concerned about how they’ll handle health insurance costs. Dental practice owners are probably used to paying this expense out of pocket already and have a better idea than most how much their coverage will cost, but the reality of paying the premium on their retirement income and realizing that
Avocado toast is the silly yet controversial topic of the month in the world of finance and social media. It started in Australia with millionaire and real estate mogul Tim Gurner commenting that if millennials gave up avocado toast (representing discretionary spending much like a Starbucks Latte has come to represent here) they could afford to buy houses.
The holidays may seem an unusual time to talk about budgets and financial planning.
A common question I hear is “when can I stop working?” Not that the client necessarily wants to stop working, they just want to know that they can stop. That
A budget is a great way to create financial awareness, not just in the building of the budget, but in the tracking of actual expenditures against what you wanted to spend.
Christmas bills will be arriving soon, and people will be dipping into savings, living in austerity mode, or living off “revolving” credit to pay down their Christmas bills over many months to come.
Christmas is a time for giving and sharing, but when all is said and done many people end up associating the holidays with resentment and guilt about overspending, rather than the joy and renewal the season promises.
To keep next Christmas’ spending in perspective, Mission Financial Planning recommends a Christmas debriefing while memories are still fresh.
Debrief by reminiscing about the holidays; what did your family look forward to, and what did they dread? What are their best memories from over the years, along with favorite foods and must-have traditions?
We were quoted on the websiteCreditCardInsider.com today in an “Ask The Expert” article titled Money Management for Young Professionals.
Featuring helpful hints from financial planners and writers, university counselors and others, the article featuring Credit Card Insider is aimed at those just entering the workforce and is a good introduction to some basic concepts of financial responsibility and planning. Many of the tips would be good reminders for financially conscientious readers of any age. Click on the article title above to see all the recommendations.