The retirement planning crises in America is not talked about much because the focus in financial planning is mostly on those with planning options and higher incomes. For those without a higher income or employer-sponsored planning options, just figuring out where to begin can be overwhelming and crippling to the point one never starts. Retirement planning is the bogeyman of tomorrow and nothing gets done today.

With all the negative market talk to deal with lately, I thought this week would be a light topic. It’s Christmas in July! Not the actual day of celebration, but some tips for preparing for Christmas and year-end holidays for 2022. Christmas is just over 22 weeks away as of this writing. My gift to you is some advice on how to handle that extra expense especially this year with inflation and the possibility of a looming recession weighing on our minds. Not everyone celebrates Christmas but for a large number of families this is a major holiday and a very big expense. Christmas can be fun, but it puts many folks into a financial tailspin and creates unnecessary stress. So, how do you prepare for the expense in your budget to avoid the tailspin and reduce stress in a year when inflation is up and a recession may be looming?

It seems the media is hell bent on talking us into a recession. Every day there’s more and more coverage about a pending recession. But where is this talk coming from? Job growth has slowed, but is still steady with over 300,000 new jobs per month being created. Gas prices have dropped at the pumps for over 20-plus days depending on which source you cite. Mortgage interest rates have declined nearly 1% since last month, but granted, are still higher than in recent years. Inflation, seems to be slowing and not accelerating as quickly as it did the end of 2021, beginning of 2022. And, consumers still seem to have pent up demand and are spending on travel, restaurants, and services. All that said, a recession could be in the cards. We don’t know when or if it could officially start. Nor do we know if it will be mild, or severe. Either way, there are things you can do to prepare for a recession.

As we begin July we begin the second half of the year. This year, the markets have not performed well and inflation is a challenging beast that is eating away at our assets. This combination of down markets and inflation is a double-whammy for most investors. It’s especially unnerving for retirees. For some younger investors, this is the first time in their lives they’ve seen this type of inflation and it can be a real opportunity. Read on for perspectives and tips on what to do now.

Here we are at the end of June. It’s also the end of LGBTQ Pride month celebrations and half way through 2022. It seems like just yesterday we were celebrating New Year’s. Given that June marks the midpoint of the year, it’s a good month to check on your goals. Read on for tips whether you are on-track or need to get back on the path toward your goal.

Here we are, another Pride month celebration. For those that may not know, June is considered Pride month in the LGBTQ community. We chose this month because the Stonewall riots occurred in late June 1969. It’s a time when we honor those who came before us and their sacrifices, we celebrate our hard-won social advances, and take stock of where we are as a community. Even with more civil rights and social acceptance, many in the LGBTQ community still need specialized financial planning. Quite often, you may see the term non-traditional planning. If you are a community member, read on to see why you need planning and how to access those resources.

It’s fair to say that you have seen this post before. In May to be exact. Given that Father’s Day is fast approaching, it’s only fair to remind you of tips to help dad with his finances. We often assume it’s mom who needs help, but dad may need help as well. Men are notorious for not asking for help, so you may need to be a bit of sleuth and may need to be persistent. This year, Father’s Day is Sunday, June 19. Depending on your dad’s stage of life, he may need a little help with his financial planning whether he admits it or not. Here are a few things that you can do to help dad with his finances.

A lot of folks have rediscovered bonds from the US Treasury Department; specifically, the Series I bond. Part of the reason is the ongoing press coverage of the Series I bond in the press right now. For years we’ve earned very little, and in some cases no interest on our checking and savings accounts. High-yield savings accounts being somewhat better. Recently however, the composite rate on the I bond hit over 9% and that garnered a lot of media attention. So, should you buy I bonds or not? Let’s dig in a bit and find out.

Shopping can be a lot of fun. No matter what you are shopping for, we all are influenced by our past experiences, marketing, and legacy advertising. What is legacy advertising? Think of any brand name that you have ever heard and know immediately. For many of us it’s the two big soda companies, a few domestic car producers, and a couple of blue jean manufacturers. You already know their names and iconic brand logos without me telling you. When it comes to big purchases, like a car, we are influenced whether we admit it or not. But there are a few things you can do when you need to make a big purchase to buy quality without being cheap.

Retirement savers are conditioned to take full advantage of their 401(k) or other workplace plan to save for retirement. Most of us are also very familiar with the IRA and Roth IRA for saving as well. I frequently find that many folks don’t include a taxable investment account (or, brokerage) into their savings and investing plan. A taxable investment account is a tremendously beneficial way to save and invest. We’ll get to that in a minute. First, let’s review a few of the shortfalls of the most common types of saving vehicles we know.

The summer travel season is kicking off and given the inflation spike, fuel prices, and pent-up demand due to the pandemic, it can be a challenge to reign in those vacation costs. Lots of us have cabin fever and are fighting the urge to splurge on a fabulous vacation. Memorial Day officially launches the summer travel season. June is rapidly approaching and is a very busy month with festivals, concerts, special events, weddings and many people taking time off while the kids are out of school. A good summer vacation or remote work trip doesn’t have to break the bank and bust your budget. Consider the following tips to save money.

With the wild ride we are having this year in the markets, many want to know if now is a good time to invest? It’s a lot like a rollercoaster ride. Ever notice how some riders are gripping the safety bar with terror in their eyes, while others are screaming and laughing? Well, this market is like that rollercoaster ride depending on who you are. Keep in mind, that investing is more than the closing Dow Jones number each day, and financial planning is far more inclusive than just investing. But let’s focus on the investment question. Think back to the 2000 and 2008 downturns. Most of us wish that we would have plowed more money into the markets during those downturns. It’s always darkest before the storm. Let’s set some parameters and address whether it’s a good time to invest.

Mother’s Day is fast approaching. This year, it’s Sunday, May 8. Depending on your mom’s stage of life, she may need a little help with her financial planning. Here are a few things that you can do to help your mom with her finances.

The 401(k) retirement plan turns 44 this year. Don’t break out the champagne too soon, there are still a lot of problems with this popular retirement savings plan. The 401(k) has grown a bit over the years and refinements made. However, even with the changes, it still roughly helps only about the top fifth of income earners according to Time.com, as of 2018. Originally, the 401(k) plan was meant to have a negligible impact on workers and was targeted at executives only. For all its complexity and problems, it still remains the most popular way to save for retirement; and for many, the only way to save. I am going to point out a few disadvantages around this plan and a general recommendation for younger workers on how they might avoid such problems. Prepare yourself for some nerdiness.

It’s still National Financial Literacy Month. Did you think I wouldn’t give you more resources for this important month? Here are a seven free resources for National Financial Literacy Month 2022 that you can use to learn more about personal financial planning. These links are provided solely for educational purposes and I recommend no source over another. Nor do I receive any compensation from these resources. If the link is broken, please search by name in your browser. If that doesn’t work, contact me and let’s talk.

The lucky ones among us are about to come into a mini-windfall of cash. This is a golden opportunity. That mini-windfall is a potential tax refund. If you are really lucky, you will be receiving a federal and state refund. Instead of envisioning all of the lovely, disposable, things you could buy with your refund, consider buying some financial peace of mind. Here are three things to do with this windfall that would be financially beneficial.

If you are a regular reader for more than a year now, you know that April is a big deal in personal finance. It’s National Financial Literacy Month (NFLM) and boy, do we need it! According to debt.com, as of October 2021, 17% of Baby Boomers and 21% of Gen-Xers have less than $5,000 in retirement savings. Small percentages, but those percentages represent a large number of Americans. And, the median 55- to 64-year-old's 401(k) account balance is $84,714 according to Vanguard data (How America Saves, 2021). Note the term median, not average. The average 401(k) balance for 55- to 64-year-old’s is $232,379. It's a bit easier to read your generation’s summarized stats at The Average 401(k) Balance by Age at Bankrate.com. So, what is financial literacy and what can we do to improve ours? Read on to find out.

I am early this year with my annual soapbox topic, to have your key documents in an easily accessible, portable binder. It’s late March and we have had an insufficient amount of rain here in California, and many are already worried about fire season. So, it’s time for my annual reminder to have a Grab-N-Go emergency binder! We jokingly say that we have four seasons here in California: flood, fire, earthquake, and riot. Sometimes, we have all four of those in the same week. It’s necessary to have an emergency binder for other reasons as well. Most notably, a medical emergency. It’s not a pleasant thought, but a disaster or health crisis is an event for which we should all plan ahead.

By now you have probably heard about the Federal Reserve rate hike that took place last Wednesday. For many, it’s likely a passing news story. But for those of us who have credit cards, want to get a mortgage, or even buy a car, that quarter-percentage rate increase actually means a lot. It means a hit to our bottom line if you are getting a new mortgage, buying a new car, or your credit card rate increases. If you are a cash saver though, it’s likely a good thing!

Whether you have a 401(k), a 403(b), or a 457 plan, basically, your qualified workplace retirement plan, March is a great time to review your plan. The timing is good because it’s early in the year and most folks are working on taxes and can compare the difference in making changes to their contributions. The majority of people have a 401(k) plan, but you may participate in a 457, or 403(b) workplace qualified retirement plan. Regardless, there are some key areas to discuss.