Why should you have a budget?
The word, budget, can induce fear and anxiety for some people. But I would argue that creating a budget and being disciplined in the process creates more freedom and flexibility than the alternative.
Chart of the Month – December 2023
Category: Investing » Diversification
This year, we have seen a runup in several large names, mostly in the technology space. They have been dubbed the “Magnificent Seven” by financial news publications. Why might this matter to an investor?
Money, Happiness, & Meaning
Category: Financial Planning » Behavioral Finance
We’ve all heard the adage, “Money can’t buy happiness,” but the truth is more nuanced. Let's dig into the research.
Our Favorite Book & Podcasts of 2023
Category: Uncategorized
“What books would you recommend?” “What podcasts do you listen to?” At Foster Group we often get asked questions like these. Here’s a short list of some recent responses from our team.
Have You Come to Terms with the Reality of Your Retirement?
Category: Financial Planning » Behavioral Finance
People come to terms with the fact they will one day retire. Maybe not in the next year or two but sometime in the next five. Often, it’s a reality they’ve been denying.
How to Use Your Deferred Compensation Plan
For most of us, it’s that time of the year when we make benefits elections for next year. These are important decisions.
Past Performance is Not Indicative of Future Results
Category: Foster Group
“Past performance is not indicative of future results.” Most people think of investing when they hear or read the sentence above, the ultimate statement of caution. What do you think of this statement when it comes to baseball?
Chart of the Month – Nov 2023
How Do Treasuries Lose Money? US Treasury bonds are generally regarded as safe. Sometimes they’re referred to as “risk-free” assets. This is a bit of a misnomer.
Psychology and Wealth
Category: Financial Planning » Behavioral Finance
The different ways people react to and treat wealth and finances is fascinating. Although not everyone can be put in a box, there are five main personality types when it comes to psychology and wealth: Neuroticism/Emotional Stability, Conscientiousness, Agreeableness, Extraversion, and Openness.
Navigating Financial Health in Retirement
Category: Financial Planning
Planning for retirement is the journey of a lifetime – a marathon, not a sprint. But what happens after you cross the finish line? Read on for more on the art and science of navigating life after the working world.
Chart of the Month – July 2023
The latest consumer price index report has brought some positive news regarding inflation in the United States. Several factors played a role in the moderation of inflation.
Doctors Overlook These Five Contract Areas at Their Own Peril
Category: Financial Planning
Five key areas doctors need to carefully evaluate in their contract. Overlooking “The Big Five” can have major financial and professional consequences.
A Financial Advisor’s Morning Routine: Why I Broke Up With “Breaking News”
Being informed without getting drawn into every breaking news story that touches the economy, markets, or business. Doing well with money isn't necessarily about what you know but rather, how you behave.
Chart of the Month – June 2023
This year’s stock market narrative is a tale of two markets. On one side, a handful of prominent technology companies is flourishing while on the other side, everything else is struggling to keep up. Here we will assess the data.
Media Drama: Facts or Fiction?
Category: Financial Planning » Behavioral Finance
The dramatic nature and slant that the media add to their stories to get us interested in reading the page. Do a quick self-check to see through the production and into the facts.
Do You Have a Financial Caddy?
Category: Financial Planning
A professional golfer would be incomplete without his or her Caddy. The same is true for you and your finances. I believe a good financial plan is incomplete without a Caddy, aka a Financial Advisor, to help you navigate life.
Navigating the Course of Retirement Planning
Like in golf, planning for retirement is a game that requires strategy, focus, and a bit of finesse.
The Advantages of 529 Plan Educational Funding
A common financial goal of young families is funding their children’s future education expenses. In this blog we address many of the "what-if's" that clients are asking.
Planning for Future Healthcare Expenses
Category: Financial Planning
"What is worth insuring?" The answer almost always boils down to how much you'll have to pay to insure the thing you don't want to lose -- whether it's your mustache, your fantasy football player, your home or your health.
Are You Approaching Retirement? It’s Time to Get Your Financial Health in Order.
Category: Financial Planning
Planning for retirement can be one of the most daunting financial stages of life because there are so many competing priorities to manage and responsibilities to juggle. Read on for some tips to help you manage it all.
Baseball and Investing: Managing Behavior for Success
Money is emotional and our “news” cycle is a catalyst. Investors react to what they hear and how they feel, oftentimes to their own detriment.