The summer 2026 financial planning newsletter is now available. In addition to our investment update and mid-year financial considerations, we share an overview of Trump / 530A accounts including how to find out if your children are eligible for any free money. We also answer the question: "Does … [Read more...]
Myth Bustin’: Do financial planners care how you spend your money?
Myth: Your financial planner doesn’t care how you spend your money. You may have heard your financial planner say "I don't care how you spend your money." You may also have heard us ask you if you could increase your savings or defer a car purchase. And we might have even asked you “what else?” … [Read more...]
AA Pilots: Market Based Cash Balance Plan (MBCBP)
With the election window now open, the time is here to make a decision to sign up for (Tier 1) or to decline (Tier 2) use of the new Market Based Cash Balance Plan (MBCBP). While we like to give advice tailored to your specific situation, with the December 15th deadline looming, we wanted to … [Read more...]
Financial Planning Tips during the Shutdown
If you're not receiving pay as a federal employee because of the government shutdown, the financial effects are very similar to an actual job loss. There are lots of resources on how to financially prepare for a potential job loss. In this article, we want to address the best shutdown financial … [Read more...]
Spring 2024 Financial Planning Newsletter
The Spring 2024 financial planning newsletter is now available. In addition to the investment market update, we include financial spring cleaning ideas and links to some of our team's favorite financial podcasts. We also provide a gentle nudge on keeping your estate planning up-to-date, along with … [Read more...]
Winter 2024 Financial Planning Newsletter
The Winter 2024 Financial Planning Newsletter is now available. It includes an investment market update and some observations about market responses to the Fed's actions. In addition, we provide some updates on the tax consequences of student loan forgiveness and how to fund a Roth IRA from a 529. … [Read more...]
Spring 2023 Financial Planning Newsletter
The spring financial planning newsletter is now available. It includes an investment market update, as well as insight on FDIC and SIPC coverage. We also provide links to adjust your tax withholding if needed now that the 2022 tax filing deadline has passed. In addition, we highlight Rachel Songer's … [Read more...]
Buying a car in the 2020s
Buying a car? I’d always heard that your vehicle was a depreciating asset. Outside of classic cars, the joke was always “you lose 50% of the value the minute you drive it off the lot.” Then COVID came along and it seemed that the reverse might be true. Used cars were suddenly appreciating … [Read more...]
Emergency Fund Check-In
In the last two years, we have seen wide ranges in our monthly spending. Two years ago, many people saw their savings increase as they stopped commuting and going out due to COVID-19. When interest rates dropped, individuals lowered their monthly housing costs by refinancing their mortgage. A year … [Read more...]
Home maintenance planning
Most of us spent more time at home during the pandemic. We saw an increase in home maintenance projects that had been deferred but suddenly were elevated on the priority list. Personally, 2021 gifted me the purchase of a pellet stove and a water softener, the repair of a broken sprinkler line, and … [Read more...]
Q3 Financial Planning Newsletter
Our third-quarter financial planning newsletter is now available. It includes an update on the investment markets, along with our perspective on inflation. We also cover how to decide if you should opt-out of the child tax credit payments. In addition, we share that we've just completed our … [Read more...]
2021 Child Tax Credit Advance Payments
If your family is eligible for the 2021 child tax credit, you have the option to decide if you want to receive advance payments or not. The default is to receive the advance payments. You also have the option to opt out. If you opt out, you will still receive the full tax credit. It will just be … [Read more...]
Financial Planning April 2021 Newsletter
The second quarter financial planning newsletter is now available. It includes information on inherited IRA required minimum distributions, estate planning, spending plans, and an overview of the investment markets. We also share an update on meeting options and our team. Click here to read the … [Read more...]
Why No One Needs a Budget
No one needs or should use a budget. I realize this may seem like a bold statement. Before you begin forming arguments to disagree with me, please understand that I am a huge fan of spending plans. But I hate budgets. Budgets are difficult to maintain because people don’t like feeling restricted … [Read more...]
Financial Planning January 2021 Newsletter
The first quarter financial planning newsletter is now available. We all have a heightened awareness of the uncertainty of life right now, so our goal for the newsletter is to provide some reassuring insight and perhaps some actionable ideas. The newsletter includes: Friendly financial … [Read more...]
How to Become Financially Fit in 2021
by Christina Slavonik, CFP(R) Oh, yes! It’s that time of year again! It's time to list out resolutions or goals that we would like to accomplish this year. There may be some “rollovers” from 2020! One important resolution to add to your list is to be financially fit. It’s not something … [Read more...]
Rachel Songer CFP Advice to First Time Home Buyers
Rachel was recently asked by Redfin to provide financial advice to first time home buyers. She shared: We recommend that you have a good handle on where your money is going today. From here, forecast out what the expenses associated with the house will look like: mortgage payment, taxes, … [Read more...]
October 2017 Newsletter
Our October newsletter is now available to help with your personal financial planning. It includes an overview of the third quarter investment market performance, along with a review of Nobel Prize winning economist Richard Thaler's work. In addition, we have suggestions on how to respond to the … [Read more...]
June 2015 Personal Finance Newsletter
The June newsletter is now available. In addition to the regular investment update, it includes highlights and take-aways from a book I just read and highly recommend -- Happy Money: The Science of Happier Spending by Professors Elizabeth Dunn and Michael Norton. The newsletter also has updates on … [Read more...]
January 2015 Personal Finance Newsletter
Our personal finance newsletter for January is now available. It includes a review of the 2014 investment markets, an article highlighting the relationship between net worth and financial habits, and more. Please click here to read the newsletter. … [Read more...]
October Personal Finance Newsletter
The October personal finance newsletter is now available. It includes the 2013 social security cost of living adjustment and maximum earnings level just announced this morning. A detailed review of the 3rd quarter investment market performance, plus 2012 year-to-date information is also covered. … [Read more...]
September Personal Finance Newsletter
The September personal finance newsletter is now available. In addition to an investment market update, it includes information on several financial planning topics. For retirees, we look at how remarriage affects social security. For those in the wealth accumulation phase, we look at the … [Read more...]
April 2012 Personal Finance Newsletter
The April personal finance newsletter is now available. It includes the investment market update from January - March 2012, how to decide whether to pay down debt or save and invest, and planning for a career change. In addition, there's information on upcoming retirement income and social … [Read more...]
February 2012 Personal Finance Newsletter
The February 2012 personal finance newsletter is now available. In the newsletter, we have financial planning inspiration from Keller High School seniors to refocus on paying yourself first. For investing, it includes an investment market update and information on the new cost basis rules. For … [Read more...]
Pay Yourself First
For the past three years, I’ve taught the Junior Achievement personal finance course to one of Ms. Turner’s economics classes at Keller High School. In the very first session each semester we talk about the concept of Pay Yourself First. It’s an idea the high school seniors easily embrace as they … [Read more...]
Plan now for a successful 2012
Taking a few moments now to assess your financial situation can go a long way toward positioning you for success next year. Some items to consider: If Retired Have you taken any required minimum distributions from your IRAs for this year? Even if no IRA distributions are required, … [Read more...]
May Personal Finance Newsletter
The May 2011 Personal Finance Newsletter is now available. It includes articles on long-term care planning, mid-year tax considerations, and deciphering health savings vehicles. A link to a great article on the relationship between how we spend our money and happiness is also included, as well as … [Read more...]
Advice quoted in Money Magazine
Money Magazine recently featured my advice to a reader who's company had stopped matching their 401(k) contributions. The reader was wondering if they should start contributing to a Roth IRA instead of the company plan. See my comments at Money Magazine's website. … [Read more...]
March Personal Finance Newsletter
The March personal financial planning newsletter is now available. It includes an update on the investment market, tips on cutting discretionary spending to build your cash reserve, planned charitable giving, and social security survivors benefit. There's also a special guest column from attorney … [Read more...]
Advice Featured in Dallas Morning News
The Dallas Morning News hosts an annual financial planning hotline and web chat to allow readers to get free financial advice from members of the Dallas-Fort Worth Financial Planning Assocation. I've participated in this event for each of the last 3 years, and this year's questions reflected many … [Read more...]
September Personal Finance Newsletter
The September 2010 personal finance newsletter is now available. It includes information on opportunities unique to 2010 for year-end tax planning, tips on teaching your college-age child about money, how a stronger dollar affects your portfolio, information on FDIC insurance now that higher limits … [Read more...]
June Monthly Newsletter
The June newsletter is now available with an investment market update and some historical perspective on stock market returns over time to put recent volatility into perspective. It also include a how-to on deciding if you should pay off your mortgage and an invitation to the upcoming budgeting … [Read more...]
Should you pay off the mortgage?
One of the best financially freeing moments in life is the day you compare your savings and mortgage principal balances and realize that you could pay off your mortgage if you wanted to. If you’re at that point, congratulations! If you’re not there yet, keep saving; it can come sooner than you … [Read more...]
Quoted by Jean Chatzky
Jean Chatzky's column in the New York Daily News on "How to get by when jobless pay runs dry" quoted me on several considerations and strategies to cope with this difficult situation. I'm a fan of Jean Chatzky, so having the opportunity to be interviewed by her staff and being quoted in her column … [Read more...]
May 2010 Newsletter
The May 2010 newsletter is now available. It includes investing information with perspective on last week's market plunge and an update on the new reduced fees for trading Vanguard ETFs. For taxes, there's information on the new 3.8% medicare tax for high income individuals. For cash flow, we … [Read more...]
Quoted on BankRate about Roth IRAs and emergency funds
When you're juggling creating an emergency fund and saving for retirement, it's important to be aware of your options. BankRate.com reporter Teri Cettina recently interviewed me about using a Roth IRA as a back-up to your primary emergency fund. A Roth IRA should not be your primary emergency … [Read more...]
January 2010 Newsletter
The January 2010 newsletter is now available. Beginning in 2010, it will be published the second week of each month. This month's newsletter includes a brief 2009 market update, an update on the estate tax for 2010, how to conduct a home inventory, and more. Click here to read it. … [Read more...]
Recovering from Unemployment
If you’ve been out of work for a period of time, it’s a huge relief when the paychecks start rolling in again. Depending on how long you were unemployed, what your finances were like before the job loss, and other sources of income in your household, getting back to work could be just the beginning … [Read more...]
Quoted in Kiplinger Personal Finance Magazine
I was recently quoted in "4 Ways to Trim Your Spending" by Laura Cohn in the January 2010 issue of Kiplinger Personal Finance Magazine. Laura and I discussed that having one or two areas of luxury in your life is not a bad thing -- it's actually a good thing because it helps avoid a sense of … [Read more...]
December 2009 Newsletter
The December 2009 newsletter is now available. It includes a market update, tips on tracking your expenses, year-end investing moves designed to save on taxes, and more. Click here to read the newsletter. … [Read more...]
Buying a home to cash in on home buyers tax credit?
You may have heard that the first-time home buying tax credit was extended through April 30 next year, and that it now includes a credit for some non-first-time home buyers also. For details on the extension and who is eligible, visit the IRS website. This is great news if you fall into the … [Read more...]
October 2009 Newsletter
The October newsletter is now available. It includes a reminder about the October 15 deadline to recharacterize 2008 Roth IRA conversions, a market update, how to calculate your net worth and why net worth is the financial number to watch, and more. To read the newsletter, click here. … [Read more...]
30-Second Financial Gut Check
If you're like many Americans right now, you're worried about your finances. Even if nothing has particularly changed for you in the past year - perhaps you still have the same job, same mortgage payment, same retirement accounts - you likely now have a gnawing sense of insecurity about what the … [Read more...]
2nd income analysis
If you're like many folks right now, you may be trying to determine if having a stay-at-home spouse go back to work would be beneficial to your financial situation. The answer is not always clear-cut, so you want to make sure you do the math. A second-income analysis involves an evaluation of … [Read more...]
10 Tools to Build an Emergency Fund
So, you know you need an emergency fund. You've been trying to build one, but just can't seem to get there. If you’re one of the people in the paycheck-to-paycheck boat, you know how challenging it can feel to change the situation. If you’re determined to make this change, you have to do more … [Read more...]
Investing in Low Interest Rate Environment
Low interest rates create a dilemma. Do you accept a low return because you feel you must protect your principal? Or do you take on greater investment risk in order to try for a higher return? In balancing those two concerns, here are some factors to think about. Consider laddering your … [Read more...]