Tag: Financial Foundations

2022 Quarterly Financial Review for Millennials

January 26, 2022
Finance

In uncertain times, having a review plan for your finances in place is vital. Needless to say, 2022 has gotten off to a rocky start. Political entrenchment in Washington continues to prevail as stock market volatility has shaken investors. Despite all the noise, following a plan has been and always...

End of the Year Planning Considerations

October 25, 2021
Finance

It’s hard to believe we are quickly approaching the end of the year. As we head into the holiday season and work (hopefully) begins slowing down, here are some end of the year planning considerations. This list is of course not exhaustive, but these are some of the major planning items to review...

The Backdoor (Roth) Might Be Closing

October 13, 2021
Finance

The Roth IRA can be a great way to hedge against rising taxes in retirement. One of the best aspects of a Roth IRA (or Roth money set aside in a 401(k) or other employer sponsored retirement plan) is that the distributions are completely tax-free in retirement as long as certain requirements are met. You...

How To Manage Lifestyle Creep

September 8, 2021
Finance

Lifestyle inflation, also known as “lifestyle creep”, is that slow but steady creep of spending more over time on luxury items and things that go beyond the typical basic necessities. A common phrase used to describe this phenomenon is known as “keeping up with the Joneses”. As income increases over...

Saving for a New Home Purchase

August 20, 2021
Finance

2020 was an unprecedented year in recent memory to say the least. The pandemic drove a number of trends, including younger Americans storing away cash like never before and a white hot housing market. As older millennials started families amid the backdrop of the pandemic, demand has surged for younger...

6 Steps To Create A Zero-Based Budget

August 10, 2021
Finance

In the finance world, we often talk about the need for a budget and how it’s the foundation of any financial plan. However, financial professionals do not always do a good job providing the practical advice of simply how to create a budget. In fact, we go into great detail in our Financial Foundations...

The 5 Biggest Mistakes Millennials Make with Money

July 17, 2020
Uncategorized

Our generation is notorious for not being so financially savvy. It’s up to us to change the game. So, what can we learn from the 5 biggest mistakes millennials make with money? Not having a budget Despite all the easily accessible apps for budgeting and tracking expenses, millennials are still...

Marriage and Money: How to Communicate Effectively About Finances

June 1, 2020
Uncategorized

If there’s one thing that’s absolutely essential to having a happy marriage or relationship, it’s communication. What we seem to forget, is that the rules are just the same for communicating about your daily experiences, your needs, or your feelings as they are with talking about...

Marriage and Money: Together, Separate, or Somewhere in Between?

June 1, 2020
Uncategorized

So, what’s the verdict? Should you have joint accounts, separate accounts, or something in between? Studies show that couples with joint finances are more likely to stay together in the long run. We think this has very little to do with actually having their money in the same account and a lot...

Marriage and Money: Setting Boundaries

June 1, 2020
Uncategorized

Let’s chat for a minute about setting boundaries. While sometimes it’s nice to think that we will always do everything together with our partner, it’s nice to also keep some of our independence and set up some guidelines to help us be successful as a team. Sometimes we need some...