Balance in retirement is important – not just finding a balance between spending too much money and being afraid to spend, but also how to spend time. How much alone time do you prefer? How much would you like to engage with friends, family, or former colleagues? What is the right blend of relaxing and being active for you?
Financial Life Planning
If you find the thought of taking retirement distributions stressful, you’re not alone. Time after time our clients at Mission Financial Planning are surprised to find themselves struggling to dip into their retirement savings.
As I discuss estate planning with my clients, I inevitably think about my personal estate plan. My kids will inherit what will seem like a lot of money to them, considering how frugally they were raised (downside of being brought up by a financial planner!). I want them to manage it well, understand why I made the estate planning decisions I did, and I have some ideas about ways the
Over the years, I have found that one of the most important pieces of any vacation is the ease of traveling to that destination. I don’t care how wonderful the final location may be, if the journey includes multiple flights, delays, lost luggage, and poor customer service, then I would prefer to stay home and work.
I am happy to announce my completion of Kansas State University’s Financial Therapy graduate certificate program. “Financial therapist” is a little bit of a weird term so I’d like to clarify: I am not a therapist.
There is ongoing academic research regarding how much money it takes to be happy, or at least satisfied, with one’s financial life. While the numbers vary, at a certain point, studies show that increases in annual income no longer seem to bring greater happiness.
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.
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 all have different intellectual and emotional motivators in money matters. These can range from needing more security to wanting the prestige of wealth. By understanding what drives your decisions, or creates your challenges, you can be more financially aware and healthy, and operate more effectively and in-tune with your money personality.
Susan Zimmerman, LMFT, ChFC has written extensively on discovering the “core drivers” that motivate people financially. Here are just a few of the money motivators that Susan has found to be powerful.