Opportunity Valley
Category: Financial Planning
Money Can’t Buy Happiness, or Can It
Category: Financial Planning
The book Happy Money: The Science of Happier Spending by Elizabeth Dunn & Michael Norton has changed the way I think and feel about spending. It’s based on academic research that identifies ways that spending can increase our joy, something I didn’t think possible before reading this book!
Why I Try Not to Pay Attention to the News
Category: Financial Planning » Behavioral Finance
While I don’t think this approach is for everyone, I do think many of us would benefit from making some of these decisions.
What Can You Do Before the 2021 Tax Deadline?
Category: Financial Planning
As you wait for those semi-warm days of spring, there are a few things you can do between now and April 15th connected to your 2020 tax return.
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.
You Will Have Forgotten Monday, July 19
Category: Financial Planning » Behavioral Finance
By the time you read this, you will have most likely forgotten today. My guess is that you won’t remember what went on this day. You might remember a feeling or thought you had when you heard what was happening in the stock market. But then, you sent an email, mowed your lawn, took your dog on a walk and ate something healthy, like broccoli, for dinner.
The Influence of Trust
Category: Financial Planning » Behavioral Finance
A good relationship with our clients comes down to a handful of things. One of those things is whether a client trusts that we know more than they do about the type of investing we do at Foster Group.
Saving More Is Easy If You Eliminate Obstacles
Category: Financial Planning
I listened to a great show on the Hidden Brain podcast a couple months ago: Work 2.0 – The Obstacles You Don’t See. The big takeaway was that often the path to success is not about more motivation but removing obstacles. I think the podcast has had a big impact on my life already. Let me explain.
Balance Sheet Liquidity: What Is It? How Do I Approach It?
Category: Financial Planning
I am extremely fortunate to work with many different types of clients. Some of my favorite clients are the owners of privately owned businesses. There are always opportunities to have conversations that go well beyond managing investments.
Secure Act 2.0 Offers a New Retirement “Lost & Found”
Category: Financial Planning
A few weeks ago, my colleague, Matt Moklestad, shared a blog about 8 changes from the SECURE Act 2.0. While many of the changes in this legislation are beneficial for employers, there is a lot in this act that is also going to be very beneficial for plan participants.
Things You Can Do Today to Be Ready for Retirement
Category: Financial Planning
We often see a lot in the news about how many people aren’t prepared for retirement. But saving for retirement in a 401k doesn’t have to be scary or complicated.
Does Your Workplace Cultivate a Championship Team?
Category: Financial Planning » Behavioral Finance
I recently listened to a podcast called, “Invest Like the Best, with Patrick O’Shaughnessy”. The podcast is based on an article written by Michael Lewis in the New York Times Magazine back in 2009, about Shane Battier, a professional basketball player who was the ultimate teammate.
Happy 401(k) Day! Yes, It’s a Holiday!
Category: Financial Planning
Happy National 401(k) Day! As we take today to celebrate 401k’s, it’s important to consider the increasing challenges employees in our country face when it comes to retirement readiness.
Let’s Make 2023 a Year of Savings Inflation
Category: Financial Planning
The rising cost of living recently has led the IRS to raise the 2023 contribution limits for employees with 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan.
3 Key Topics You Should Know from the Retirement Enhancement Act
Category: Financial Planning
While the News headlines the impasse with split government in Washington, the trade war, immigration, and the growing field of contenders for the White House, a substantial change in retirement plans is making its way through Congress.
SECURE Act Signed Into Law. How Will This Impact Your Plan?
Category: Financial Planning
In December 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement (SECURE) Act into law. Will it affect you?
IRS Allows for Reversal of 2020 RMDs
Category: Financial Planning
In late June, the IRS announced RMDs would be able to be reversed from any account requiring them through August 31st. Since the IRS is allowing this, it presents a potential tax planning opportunity.
Round Two: Stimulus Aid Arrives
Category: Financial Planning
The aid package was just one part of a larger funding bill, and it contained many provisions, most notably an additional round of direct payments to Americans.
More Stimulus Aid on the Horizon
Category: Financial Planning
On January 14th, President Biden presented his plan, titled the American Rescue Plan, for the next round of economic aid related to the ongoing pandemic.