Spending That Can Wreck Retirement
Category: Financial Planning
In more than a decade of working with clients, I’ve discovered that one thing tends to do more damage to financial plans than any other.
How Much Life Insurance Protection Is Enough?
Category: Financial Planning
Life insurance is an important component of a financial plan. An early death can create severe hardships for the surviving family if the proper amount of insurance is not in place. The recommended amount of life insurance will vary from family to family depending on a variety of factors.
Preparing Your Heirs for the Great Wealth Transfer
Category: Financial Planning
Over the next 25 years, approximately 45 million U.S. households are primed to pass an estimated $70 trillion in wealth to their heirs. Here are three simple ideas to get you started on a rewarding family governance journey.
Cars, Planes, and Market Crashes
Category: Financial Planning
Since becoming a pilot about 6 years ago, I’m often asked about plane crashes. If you are an investor, the odds of enduring a market crash are almost 100%. Just as I have to do when flying, at Foster Group, we plan ahead for a market correction by using sound planning and investing.
What Does It Mean to Be an Investor? – Part Two
As you peek into the future – hopefully one with greater discretionary time and money – do you envision yourself increasing or decreasing your investment in the well-being of the people close to you and the world in general? Do you see yourself sticking close to the mess of the world or investing in ways that escape it?
A Few of My Favorite Things
Category: Financial Planning
Almost everyone has a few of their favorite things. One of my top questions to ask friends and clients is, “What are some of your most treasured memories and keepsakes?”
When Market Volatility Creates Opportunity
Category: Financial Planning
The first half of 2022 has proven to be challenging for investors. Being an investor during volatile markets isn’t easy, but there are a few strategies to consider in order to make the best of a difficult situation.
Speeding Tickets & Investing
Recently, I received a gift from the Iowa State Patrol in the form of a speeding ticket. In reflecting on this experience, it occurred to me that I took an unnecessary risk to attain something I didn’t need and ended up sacrificing money I didn’t have to lose.
Dividing Finances in Divorce
Category: Financial Planning
If you or someone you know is going through the divorce process, make sure they have the right team in place to guide them throughout with the entire process. As a Certified Divorce Financial Analyst (CDFA), I can help walk through the complexities.
Mega Backdoor Roth IRAs: What You Should Know
Category: Financial Planning
A mega backdoor Roth is a great option to quickly build a tax-free bucket of money for individuals who have maxed out other retirement savings vehicles, still have surplus to be invested, and have a 401(k) plan that allows for this strategy. Consider this an additional tool in your toolbox.
How a Medicare Supplement Coordinates with the Parts of Medicare
Category: Financial Planning
Medicare seems like the Alphabet soup of health insurance. Parts A, B, C, D and then the myriad of supplemental coverage. As Charlie Brown would say, “Good Grief”…. Let’s decipher it here.
Don’t Mix FOMO with Home Buying
Category: Financial Planning
For most Americans, their house is their most significant asset. But it’s also the most personal one. There's a lot of emotion inside those four walls. If you want to buy your first or next home, it’s crucial to have a game plan going into it. Here are a few principles to consider when it comes to buying a home.
Webinar: Navigating The Proposed Tax Changes
Category: Financial Planning
There are a lot of unanswered questions about the newly proposed tax bill under the current administration. In this webinar, we explored the implications of the new proposals on your finances.
Are Those Happy Tears?
Category: Financial Planning
Tears, bottles, diaper changes, onesies, little fingers, and strange sleep schedules – as many of you know, these are just a few of the things to expect when you bring home your newborn from the hospital. And here’s something else to expect: new tax credits! While I know good parents don’t have kids to lower their tax bill, it’s nice of the US Government to extend a bit of kindness to those taking on the heartache – and joy! – of becoming parents.
Teaching Your Kids to Invest Early in Life
Category: Financial Planning
One of the concerns I continually hear from the clients I work with is whether the next generation can handle money well. The only way to know is to give them an opportunity. Helping them invest early and often will teach them discipline, patience, how to manage their emotions and the power of compound interest. All of it is essential learning on the path to financial independence . . . and many other things in life, as well.
How One Client Lives a Meaningful, Generous Life
Category: Financial Planning
At Foster Group, we encourage our clients to live lives of meaning and generosity, and some of our clients embody this. Of all the amazing stories I’ve heard, the following has impacted me most deeply.
Umbrella Insurance Is Just a Catch All Policy, Right?
Category: Financial Planning
Guest Blogger Tim Hibbing. Umbrella policies are becoming more and more popular in our litigious culture.
How Will You Pay for Long-Term Care?
Category: Financial Planning
Chances are, you’ve heard about long-term care insurance, but have you asked yourself if you need it?
I Want to Be Like Them
Category: Financial Planning » Charitable Giving
Stories like this spread and inspire others to be generous.
Alphabet Soup
Category: Financial Planning
Many industries use acronyms. Financial services are no different: QCD, RMD, DAF, and IRA to name a few. They each have their own rules and guidelines. We enjoy working with clients on a daily basis to help make sense of these terms.
5/29 is for 529’s
Category: Financial Planning
May 29th is National 529 plan day. While there are many ways to save for future college expenses, a 529 plan remains one of the best.