Leave the Gift of Giving as part of your Estate Plan
Category: Financial Planning
One of the best strategies for charitable giving is to open and fund a Donor Advised Fund (DAF).
Passing on the Spirit of Generosity in a Tax Smart Manner
Category: Financial Planning
If you are giving to charities now or plan to in the future, you may possess the “Spirit of Generosity.” How do you pass that “Spirit of Generosity” on to your children and/or grandchildren?
The Promise of Small Beginnings
Category: Financial Planning
Spring and it's emerging signs of life are great reminders of how many things in our lives start small. But with a little attention year after year, small things can grow to become meaningful and enjoyable contributions to our lives and the lives of others.
What I Learned On The Road To The House on the Lake
Category: Financial Planning
In my life, I’ve always been a goal setter. You may be a goal setter, too. If you’re like me, you set goals on an annual basis. It may be hard to get going, but being purposeful about taking those first steps will produce results and help propel you from one success to the next. So where do you start?
Tailoring Your Financial Plan to Match Your Goals
Category: Financial Planning
If you are a client of Foster Group and have met with your advisor recently, you may have discussed what’s important to you, what we are planning for as it relates to your goals, and what you hope to achieve.
Business Owners, Beware of the “Missing Middle”
Category: Financial Planning
For many family businesses, the lack of clear succession plans is the most significant challenge.
“Sportsified” Diversification
Category: Financial Planning
The benefit of a diversified investment portfolio is that, while again we do not know who the actual winners and losers will be, the risk of excluding the best is greatly reduced.
Navigating the Noise: A Reality Check on Fearful Headlines
Category: Financial Planning
Sometimes headlines are right, but remember they are created to get your attention, not necessarily to provide you with helpful information.
Thermostats and Peanut Butter Jars
Category: Financial Planning
“Scrape the bottom of the peanut butter jar,” in order to set yourself, your family, and others up for future happiness.
Is Leasing Right for You?
October was the worst month for new car sales at his dealership in over ten years. In fact, only about 10% of car buyers that month were electing to lease new vehicles and typically, leasing is less expensive than buying. What’s going on here?
Preparing the Next Generation: Three Keys to a Long-Term Mindset
Category: Financial Planning
How do we prepare our young people to lead and do it quickly?
The Joy of Generosity
Category: Financial Planning
In my experience, the joy of generosity is not dependent on monetary value or other objective measures of size or significance. Generosity done well always has the potential to bring joy to both givers and receivers.
What I Have Learned From My Journey of Generosity
Category: Financial Planning
Being generous is a practice that seldom is mastered, takes continuous practice, and must be learned over and over again.
Why should you have a budget?
Category: Financial Planning
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.
Money, Happiness, & Meaning
Category: Financial Planning
We’ve all heard the adage, “Money can’t buy happiness,” but the truth is more nuanced. Let's dig into the research.
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
Category: Financial Planning
For most of us, it’s that time of the year when we make benefits elections for next year. These are important decisions.
Psychology and Wealth
Category: Financial Planning
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.
Time to Revisit Your Cash Reserve Fund
Category: Financial Planning » Cashflow
Nearly four out of ten Americans lack enough money to cover an unexpected $400 expense? The statistics on this have remained consistent over the years. One of the first steps in building a strong financial foundation is creating an emergency fund. The idea is to prepare for the unexpected expenses of life.
The IRS Punted on 2023
Category: Financial Planning
The IRS is allowing some people to skip their Required Minimum Distributions (RMDs) from inherited IRAs. If you inherited an IRA in 2020 or later, you may not need to make a distribution this year. Read for some background.
Money Silence Hurts Families – Three Tips to Break the Cycle
Category: Financial Planning
If you think talking about money with your spouse, parents, or children is difficult, you are not alone. Here are three tips to get started on a healthier money talk journey with your loved ones.