Tag Archives: financial planning basics

Why I Don’t “Bank on Yourself,” and You Shouldn’t, Either

First, I don’t think “Bank on Yourself” is a scam, I think it’s a terrible, terrible deal.  Here’s my understanding of how the “Bank on Yourself” concept is supposed to work (abridged version)*: You create a financial plan with an … Continue reading

Posted in Banking, Financial Planning, Insurance | Tagged , , , , | 2 Comments

FRONTLINE: The Retirement Gamble

Go forth, watch “The Retirement Gamble” by Frontline on the PBS website, then come back and I’ll talk you down off the ledge.  Here are my reactions.  First off: Of course people don’t know how much they need to retire.  … Continue reading

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I Am Loving On Career Planning,

Just loving on it. Let’s think about personal finance for a moment,* through the lens of the accounting model.  You bring in a paycheck – that’s your gross income.  You spend money (your expenses) and you end up with a … Continue reading

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9 Year Mortgage – Some More Mortgage Payoff Thoughts

It turns out the post I made last September titled “9 Year Mortgage – Some Thoughts” has gotten a lot of attention.*  I’d like to write about a larger point that I didn’t make in that post, which really needs … Continue reading

Posted in Credit, Current Events | Tagged , , , , , , , | 2 Comments

Your Paycheck Changed – Here’s What’s Going On

So you notice your paycheck looked a little different, didn’t you.  A little smaller.  Do you want to complain?  Maybe you’d like to get hot under the collar at President Obama’s “secret, middle-class tax hikes (brought up in the comments … Continue reading

Posted in Current Events, Economy, Taxes | Tagged , , , , ,

9 Year Mortgage – Some Thoughts

So, the other weekend I was bopping along to the radio while cleaning my house.  A commercial came on for something called “9 Year Mortgage.”  My planner antenna went up as I thought, “Sounds a little scammy, but I’ll check … Continue reading

Posted in Credit, Current Events | Tagged , , , , , , ,

Can We Stop With The “You Need A Million Dollars” Thing?

Something I overhear here and there is that you need a million dollars to retire. Can we stop with that? Estimating the size of the nest egg you need to retire is highly contingent on your risk tolerance, projected returns, … Continue reading

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Ask An Advisor: Charity Scams

Dear Abigail, I have a dear friend who recently realized he was duped by an organization claiming to benefit disabled veterans and their nonprofit caregiver organizations.  There was a national news story a few weeks ago that revealed the truth … Continue reading

Posted in Ask an Advisor, Current Events, Financial Planning, Spending, Taxes | Tagged , , ,

Ask An Advisor: Retirement Plan Alternatives

Dear Abigail, I am a non-traditional student.  I am not employed full-time, I only work on campus during regular semesters and summer sessions.  I will be attending graduate school next fall, and will be working as a research assistant.  I … Continue reading

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One Way Personal Finance Advice Ends Up Going Bad: Part 1

The free personal finance tips market is glutted.  Not only do you have this fine blog, but there are, literally, thousands upon thousands of articles,  and hundreds of books, radio shows, and TV shows on personal finance.  And, in a … Continue reading

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Ask An Advisor: Which Credit Card Is Best?

Dear Abigail, My daughter plans to apply for a credit card.  Which one should she get? – Client Dear Client, Good question!  There are thousands of varieties of credit card available in a rainbow of colors and “metals” (even platinum!)  … Continue reading

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Savings Rate Increasing, But I Don’t Think It’s High Enough

According to Reuters, the U.S. savings rate has increased to 3.8%.  That’s nice,* but I’d like to see it higher.  Here’s why. It’s a well-known trope that financial planners love it when people save money.  Usually, when you hear standard … Continue reading

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Book Club for “Women’s Worth”

Last night Conger Wealth Management hosted a book club at our office.  The book we read was “Women’s Worth” by Eleanor Blayney CFP®.  The discussion was fabulous, ranging from money attitudes and habits that are developed in youth to how … Continue reading

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Fantasy-Based Financial Planning – Part Two

This is part two of yesterday’s “Seriously?” moment is brought to you by MarketWatch via Yahoo! Finance, in an article entitled “10 Secrets to Being a Millionaire and Enjoying It” by Paul B. Farrell.  You can read part one here.  … Continue reading

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Fantasy-Based Financial Planning – Part One

Buttercup: You mock my pain. Man in Black: Life is pain, Highness. Anyone who says differently is selling something. – The Princess Bride (1987)* Oh, Yahoo! Finance, your articles are so helpful to my blogging.  It’s like shooting silly fish … Continue reading

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