Wealth Management

When Is It Time to Cut Your Kids Off From Your Finances?

Deciding when to let your children stand on their own can be tough, especially when they’re contending with student loans, underpaying jobs, or sky-high rents. But easing your kid’s entry into adulthood could be undermining your own financial security.

According to a December survey from CreditCards.com, three-quarters of parents are providing financial support for their adult kids.

But at a time when the majority of Americans haven’t socked away nearly enough for retirement—the median retirement savings for all working families in the US is just $5,000, according to the Economic Policy Institute—it makes sense to do a little less for our offspring, so we can think a little more about ourselves.

So, how do you figure out when and how to cut your kids off financially?  Learn more below. 

9 Ways to Build Wealth in Your 50s

Midlife is filled with challenges and opportunities. Yes, you might be in the thick of paying for college, but soon all those other costs that come with kids should be behind you—or so you hope. You're also likely in your peak earning years and when you're making the most is also when you should squirrel away the most.

Some 40% of successful savers—those who built nest eggs equivalent to 10 times pay—did so by saving 15% or more of their incomes for at least 10 years.  Here's how...

4 Post-Work Life Tips

How to have a long and healthy retirement:

It’s a time when we’re supposed to find happiness, but post-work life is often associated with severe health problems. Below are some tips to help you live long and prosper.  

The 'Disgusting' Financial Practice Tony Robbins Wants You to Watch Out For

It sounds simple enough: Make an investment adviser put the interests of his or her clients ahead of his own.  But the rollout of the so-called fiduciary rule, approved by the Department of Labor during the Obama administration, continues to be delayed, as it faces fierce opposition from the financial industry.  For author and business strategist Tony Robbins, this lack of regulation around investment advice can be “disgusting.”

Learn more about this disgusting financial practice by clicking the link below.

What Is the Value of Hiring a Fiduciary Financial Advisor?

Advisors are worth up to four times the 1% fee they typically charge on assets under management, according to Russell Investments’ annual study on the value of a financial advisor.  In the past four years of this study, we have concluded that the value an advisor delivers to their clients materially exceeds the 1% fee they typically charge for their services.  

The way to improve your fiscal behavior, is to work with a qualified fiduciary financial planner.  With improved fiscal behavior an investor is less likely to make the types of mistakes many people make that can sabotage their financial success.  The real value in working with a fiduciary financial life planner goes well beyond investment returns.  Juggling all your financial puzzle pieces can be stressful and time consuming. Having a trusted Financial Planner to help you with all of this can be a huge weight off your shoulders.  

In 2017, we assess the value of an advisor to be approximately 4.04%.  Click below to learn why.  

Test Your Retirement IQ

What's the biggest threat to a comfortable retirement? Ignorance. The decisions you make leading up to retirement, including how much to save, how to allocate your investments, when to take Social Security and how to anticipate your retirement expenses can make a big difference in your old age. 

And the decisions don't stop on Day One of your post-career life. Once you're in retirement, you'll need smart strategies for taking withdrawals and investing your resources so they last as long as you do.

o how well-versed are you on this critical subject? Take this quiz to find out.  Click link below. 

How much money you need to save each day to become a millionaire by age 65

Becoming rich is nothing more than a matter of committing and sticking to a systematic savings and investment plan.

If you want to get rich, start investing- and start as early as you possibly can.  

To illustrate the simplicity of building wealth over time, Bach created a chart detailing how much money you need to set aside each day, month, or year in order to have $1 million saved by the time you're 65.   

Next time you consider running to Starbucks for a $4 latte, think about this chart and consider redirecting that coffee cash to your savings.  Check it out. 

The Big Lesson From 2016 for Your Retirement Planning

Here's what you should take away from the year that included Brexit and Trump's election.

When it comes to takeaways that can improve your retirement planning and investing, I think there’s one big lesson we should all draw from 2016.

6 Surprising Money Habits of Millionaires

Most millionaires aren’t driving Lamborghinis and eating caviar. They’re driving reliable used cars and eating mashed potatoes and meatloaf. Millionaires aren’t wealthy because they’re lucky. They’re wealthy because they follow simple money habits year after year. Click below to learn more about Dave Ramsey's 6 Surprising Habits of Millionaires.  

Is It Time To Make Changes to Your Investment Portfolio?

The stock market has taken us for an emotional ride during the past couple of months, and you may be asking yourself if you should make changes to your investment portfolio.  While changing strategies can be a good idea, it’s better to base those decisions on analysis and in the context of your long-term investment plan rather than on emotion.  Before changing your investments, consider whether or not your response is an overreaction to the news. It is always good to review your portfolio on a quarterly or annual basis to make sure you are on track to reach your goals.  

Click the link below for the questions you should ask yourself when thinking about making changes to your investments.  

The Best Revenge on an Ex-Husband: Building Wealth!

With the help of a financial advisor, a divorcée bounces back.  Her advisor told her that the best way to get back at her ex-husband was to become extremely successful.  He was right.

Read full story below.