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What’s on our mind? You can read about it in our blog. Whether it’s ideas from the industry or emerging trends, you can read about it here. If there's a financial concept that you've heard about and just don't get, send us a note and we'll try to demystify it for you and others. These posts are
S2-4U (Simply Sophisticated For You)
So keep checking in. We’re glad to have you reading along.
How can I find my abandoned accounts?
To find out if you have any abandoned bank accounts, you can take the following steps: Check your records: Review your financial records to see if you can remember opening any bank accounts in the past. Check your old checkbooks...
Read MoreWhat’s my “why” of financial planning?
Your "why" of financial planning is your personal reason for wanting to improve your financial situation. Everyone's "why" is different and can be shaped by various factors, such as your values, goals, and life experiences. Here...
Read MoreWhat should I consider when moving?
Moving can have significant financial implications, so it's important to consider the following financial planning factors when you're planning to move: Cost of living: The cost of living can vary significantly from one location...
Read MoreAm I too old to buy long term care insurance?
There is no definitive age at which it is too late to buy long-term care insurance, as the answer can vary depending on your individual circumstances. However, it is generally recommended that people consider purchasing long-term care...
Read MoreShould I buy or lease a car?
The decision to buy or lease a car depends on your personal financial situation and priorities. Here are some factors to consider: Benefits of Buying a Car: Ownership: When you buy a car, you own it and can keep it without...
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Should I invest excess cash or pay down my mortgage?
The decision to invest excess cash or pay down a mortgage depends on several factors, including your financial goals, risk tolerance, and the interest rates on your mortgage and potential investments. Here are some things to...
Read MoreWhat should I do to prepare for losing my job?
Preparing for the possibility of losing your job can be a stressful and challenging experience. However, taking steps to prepare can help you manage the situation better. Here are some things you can do to prepare for job...
Read MoreShould I be saving for retirement if I have debt?
Yes, it is generally recommended that you save for retirement even if you have debt. While it's important to pay off your debt, saving for retirement is also essential because it takes time to build up a sufficient retirement nest egg....
Read MoreF.I.R.E. (Financially Independent, Retire Early)
F.I.R.E. (Financially Independent, Retire Early) is a financial movement focused on achieving financial independence and early retirement. The goal of F.I.R.E. is to accumulate enough savings and investments to achieve financial...
Read MoreHow do I start a financial plan for my family?
Starting a financial plan for your family is an important step towards achieving your financial goals and securing your financial future. Here are some steps you can take to start a financial plan for your family: Set financial...
Read MoreWhat is tax-loss harvesting?
Tax-loss harvesting is a strategy used to minimize tax liability by selling securities that have decreased in value and realizing a capital loss. The idea is to offset capital gains on other investments by using the capital losses to...
Read MoreThe Latest Social Security Predictions
What's the prognosis for Social Security?
Read MoreWhat is the most beneficial age to claim social security benefits?
The most beneficial age to claim Social Security benefits depends on your personal circumstances and financial situation. Claiming benefits early may mean a significant decrease of total potential lifetime income.
Read MoreWhat's Your "New Quarter's Resolution"?
1. Set a budget for monthly spending. 2. Eat 3 helpings of fruits and vegetables daily. 3. Get at least 7 hours of sleep. 4. Read a book a month. Often when the discussion of New Year's Resolutions comes up among friends or co-workers,...
Read MoreHow can I reduce income tax payments?
There are several ways to reduce your income tax payments. It's important to note that the tax laws can be complex, and what works for one person may not work for another.
Read MoreHow do I get over the fear of investing in the market?
Investing in the stock market can be a daunting task, especially if you're new to it or have had negative experiences in the past. However, with a few strategies, you can overcome your fear and start investing with confidence...
Read MoreHow can I save one million dollars?
Saving one million dollars is a significant financial goal that requires discipline and a long-term perspective. Here are some general steps you can take to help you achieve this goal: Set a specific savings goal: Define a...
Read MoreHow can I save enough to retire with my current lifestyle?
Saving enough to retire with your current lifestyle will require careful planning and disciplined saving. Here are some steps you can take to help you achieve this goal: Determine your retirement goals: Start by thinking...
Read More7 Reasons for Independent Living Retirement Communities
7 Important Reasons to Consider a move to Independent Living CommunitiesMany older Americans consider aging-in-place in their current home to be their “best” choice for living independently. Retirement communities...
Read MoreSECURE Act 2.0: An Overview
Late in 2022, the SECURE Act 2.0 passed Congress with bi-partisan support. The changes will affect almost everyone who is planning for, or in retirement. Learn some of the key new rules.
Read MoreHow Will Secure 2.0 Affect Your Retirement
The SECURE Act 2.0 passed at year-end by Congress has numerous new key features that can impact your retirement planning. Here's a quick summary.
Read MoreHow the Fed Has Navigated World Events
I’ve always been a little cautious when people say, “it’s different this time.” But the table below suggests the Fed is approaching 2022’s inflation differently than other financial events in recent...
Read MoreThe $10,000 band-aid
The Biden Administration's $10,000 college debt relief executive order is just a band-aid for a much bigger problem and does nothing to fix the systemic problems in funding higher education.
Read MoreAge My Way in May
Celebrate "Older American's Month" by engaging in the community, staying physically active, and reviewing your estate.
Read More6 Risks that can Screw up your Retirement Plans
To boost the chances that your savings will let you live comfortably in retirement, there are six primary areas of risk that you need to address.
Read MoreYear End Tax Planning
With year-end approaching, it is time to think about moves that may help lower your tax bill for this year and next. This year’s planning is more challenging than usual due to the uncertainty surrounding pending legislation....
Read MoreIs it time to take away the car keys?
Since women tend to live longer than men, there’s an ongoing joke in senior living communities that the only thing more attractive than an eligible man in the community is an eligible man who can still drive at night. We chuckle...
Read MoreAre Scouts More Prepared than their Parents?
“Be Prepared” is the Scout motto. It is the foundation that guides these boys in almost all their scouting activities. Thinking ahead and considering potential contingencies that may likely occur is the key to safety and...
Read More4 Keys to Limit the Risk of Senior Financial Exploitation
There are two types of intelligence that all humans acquire, crystallized intelligence and fluid intelligence. Crystallized intelligence is the part of our intelligence that is developed and strengthened over time. This is our...
Read MorePreparing your Finances for a Transition to Senior Living
The time may come when moving your loved one to a community that can best meet the physical and medical needs of a loved one is in their best interests. When their strength, physical or cognitive abilities are deteriorating, getting...
Read MoreBefore you Invest on Robinhood, 5 Things you Need to Understand
If done right, investing in the market can build wealth over time. Building a road without preparing the base would be dangerous due to premature wear and tear, potholes, and road erosion. Just as a street with a solid foundation will...
Read More4 Keys to Beginning the Care Conversation
Beginning the care conversation with your loved ones can be daunting, especially since they are not familiar with that potential change of lifestyle, and may not want to accept their need for care. There are several ways to approach...
Read MoreInflation Boogeyman
Inflation has emerged as one of the top financial concerns for investors as they size up the economy for the rest of the year.According to research by Deutsche Bank, Google searches for “inflation” are rising rapidly and...
Read MoreCrock-Pot Investment Planning
I enjoy the ease and simplicity of setting up a meal in the slow cooker at lunchtime and allowing it to stew throughout the afternoon. The smell of the spices throughout the house and the peace of mind knowing dinner plans have been...
Read MoreHope Springs Eternal for MLB Fans
This is the time of year where post-season prognostications are made. As spring training begins, Major League Baseball fans across the country begin to wonder if this is the year their favorite team can win the pennant and make it to...
Read MoreWhat’s the Buzz with Bitcoin?
Hardly a day goes by that the topic of bitcoin or other cryptocurrency assets doesn’t come up in meetings with clients and prospects or from friends and relatives who want to know, “what all the buzz is about?”The...
Read MoreTime for a 2021 Fire Drill?
Are you clear on what your family would do if there were a fire in your house? Are you clear on what would happen if you or your spouse were unexpectedly disabled or were to die prematurely? Follow this guide to make sure
Read MoreCoronavirus Vaccines and the Economy
As the United States sees a rise in cases of COVID-19 across the nation, news of two promising vaccines out of hundreds being tested has offered a ray of hope for a fatigued world.1 A positive reaction to these vaccines affects every...
Read MoreHolding a Family Meeting
Instead of debating about politics or sports whenever they get together, what if families spent some time having candid discussions about their finances and plans for the future? We know money is a hard topic for many families to...
Read MoreIt's a Marathon, not a Sprint.
When I was in high school, I ran on the cross country team. After a long practice run, I would consider how challenging it must be to run the 26.2 miles that comprise full marathon. I made it a life's goal to someday run a marathon...
Read MoreElection 2020: Economic Issues in the Crosshairs
It should come as no surprise to hear the economy is the top issue for voters in the 2020 election. Nearly 8 in ten voters say that the economy will be very important to them when they cast their votes.1But when voters say...
Read MoreConsider NOT Leaving Your Assets 100% Outright to Your Spouse.
Nobody wants to die, but we all want to do what’s best for those we leave behind. Leaving assets outright to a surviving spouse through your will might seem like a great idea. But have you considered the risks of doing so. First...
Read MoreHome Improvements Trending Higher
Due to COVID-19, Americans are spending more time at home than ever before, leading to a record amount of spending on home improvement.1It’s not that big of a surprise since many Americans now find their homes are doing triple...
Read MoreManaging a Senior Health Crisis with Simplicity
“Complexity creates confusion, simplicity focus.”--Edward deBono Eleven seconds. The National Council on Aging tell us that on average an elderly person suffers a fall in the United States every eleven seconds. In the four...
Read MoreCharitable Cash Gifts in 2020?
The CARES Act, which provided many Americans with a $1200 direct economic stimulus payment also offered additional one-year additional tax saving benefit. Realizing that 501(c)3 not-for-profit organizations were also hurt by reduced...
Read MoreGaming is not my thing.
I’m a Terrible Gamer… Finished with college finals, my sons have gone back to video games. There is something mesmerizing about watching my kids play video games, pulling in vast amounts of visual information from the...
Read MoreDo you have the right players on the field?
If I were offered to replace Theo Epstein as General Manager of the @Cubs, would I decide to build a lineup solely consisting of left-handed power hitters and hard throwing right-handed pitchers? Doing so would likely limit the...
Read MorePlay the Ball Where the Monkey Dropped It
Parts of India have monkeys--a lot of them. When the Royal Calcutta Golf Course was planned, the developers never thought that monkeys might like to chase after, steal, or move golf balls. It turns out monkeys are as attracted to...
Read More5 Steps to Take After Job Loss
5 Steps to take right away if you find yourself unemployed File for State unemployment insurance. Find out if the group life insurance provided by the company is portable. Get your monthly spending under control. Update your resume and...
Read MoreWhen markets are scary
We have witnessed some extraordinary moves in the financial markets during the past few trading sessions. In recent days, the Standard & Poor’s 500 index has fallen by over 7 percent more than once. Ongoing concerns over the...
Read More"Are we there yet?"
As a child on a driving vacation, (before GPS technology) some of our favorite family road trips were through the Appalachian Mountains in Tennessee. My siblings and I would take turns following with their finger along the atlas map,...
Read MoreUnraveling the Mystery of Poly-advisory Financial Planning
The majority of families I meet with have competent advisors—attorneys, CPAs, investment advisors and insurance specialists—that have guided them through their years offering what the professional believes to be the right...
Read MoreWhy I recommended Susan return her Social Security payments
I have been working with a new client whose previous financial advisor had recommended she begin receiving her Social Security retirement benefits checks once she reached her early claiming age of 62. “Susan” had begun...
Read MoreWhen Coyotes Howl--Are You Ready?
We have an unfenced backyard and a 12-week-old puppy. The Cook County Forest preserve is less than a mile from our neighborhood, and the occasional coyote sighting has not been unexpected. As a result, when Bailey has to go out to...
Read MoreThe Groundhog Day Approach to Retirement Planning
In the movie Groundhog Day, Bill Murray plays the role of TV weatherman Phil Connors. His character finds himself re-living the same February 2 over and over again with the chance to optimize the outcomes when he realized the day would...
Read MorePlanning for Seniors: An Act of Love
I was recently interviewed about my experience helping families of seniors plan for care and transitions. In the article, Planning for Seniors we discuss four key areas of planning to simplify a care-giving situation and provide...
Read MoreCold Shower Crazy?
I stood there staring at the shower handle, knowing what I “had” to do. Last month, Carl Richards, author of The Behavior Gap challenged financial advisors to do something hard—to start their morning by making...
Read More#FreeMarkets and #CareerClusters: 6 Reasons I Volunteer with Junior Achievement
“The checkbook and the calendar don’t lie.” I can truly tell what’s most important to clients by looking at where they spend their time and money. When something is important enough, they will make room in the...
Read MoreI'm not going crazy
Perhaps cheering for the Bears this year is a little crazy, but this photo was taken some years ago when they were Superbowl contenders. Last week we said a final good-bye to our beloved dog, Scout. As the family grieved, tasks that...
Read MoreSharpening My Saw
"Give me 6 hours to chop down a tree, and I'll spend the first four sharpening my ax"--Abraham Lincoln Habit 7 of Steven Covey's bestselling book 7 Habits of Highly Effective People is "Sharpen the Saw". Consistent attention to...
Read MoreK.I.S.S. (Keep it Simple, Stupid!)
When I was a new financial advisor, I found that different people respond to different approaches when learning financial concepts. Some wanted to see the data, others were fine with a general discussion, but the vast majority of...
Read MoreEvery new beginning comes from some other beginning's end
"Every new beginning comes from some other beginning's end" Though most people recognize this quote as a line from the late '90's hit "Closing Time" by the band Semisonic, it is actually attributable to the Roman writer and philosopher...
Read MoreWinning by not Losing
This past weekend, I had the pleasure of reconnecting with a wonderful group of friends from high school to play a round of golf. Everyone threw in $10 to “the pot” for the winning team. For this golf round, we agreed we...
Read MoreI always wanted to be a Superhero
In the movie Avengers: Infinity War, one of the superheroes, Dr. Strange, at a key part of the movie goes into a trance. During that time, he was able to time-travel run through more than 14 million potential outcomes of a...
Read MoreHas your Retirement Community been "Ghosted" by a prospect family?
“Ghosting” in the dating scene happens when there is the start of what appears to be a relationship and then all communications go dark—calls aren’t returned, emails go unanswered, text messages often remain...
Read More9 Facts About Social Security
Tip: How Much? Check your Social Security earnings and see an estimate of your benefits on the website, www.ssa.gov. Social Security’s been a fact of retirement life ever since it was established in 1935. We all think we know how...
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