As we start the second half of the year, it's an opportune time to conduct a thorough review of your financial standing. A midyear financial check-up allows you to assess your progress towards your goals, identify areas that may need adjustments, and make informed decisions to keep your finances on track.

We are already into July. Midyear is a great time to check on your debt and either decide to tackle that debt, or see if you are on-track with your current debt reduction plan. Investing in your debt is a crucial step towards financial freedom so let’s take a look at ways to handle that debt.

Christmas is about 25 weeks away as of this writing. My gift to you is some advice on how to handle that extra expense. 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?

This summer, in addition to swim lessons and summer camp, consider teaching your kids some good money habits. Many parents seem to be unsure about how to teach their children good money habits, unwilling, too busy, or some combination thereof. Teaching your child good money habits early on can have a positive, lifelong effect. Don’t be shy about bringing up the topic. Here are few tips to get you over the hump.

When it comes to managing your finances, there are certain behaviors that can quickly lead to financial ruin. In this blog post, we'll explore some of the common ways people inadvertently sabotage their own financial well-being. Often, it’s unintentional. But changing these behaviors and being aware of a few of these traps can help you avoid financial ruin.

Over the past year, I’ve been on a slow, steady weight loss journey. It’s been very intentionally slow and has been working great. I’ve lost well over 30 pounds and still going. It’s been intentionally slow. I’ve tried diets in the past and they worked – for a while. This approach has been much better and has changed my behavior and relationship with food. Better yet, no calorie counting, measuring, or total restrictions. How did I do it? My health plan makes meeting with a dietician co-pay free. I decided to take advantage of that perk and learn to eat better for life.

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 16. 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.

Tomorrow is 529 Day! So what is it? 529 Day is 529 College Savings Day, named for the 529 plan.  It seems like a good time to share more about the 529 plan. 529 Day was created to raise awareness of these plans and to increase college savings in general.

Debt is a perennial issue. To some degree, we all live with debt. Most folks who seek out financial planning are usually very good with debt management. However, we all need help from time to time. Basically, there are two top strategies: snowball, and avalanche. If you have extra money or are "topping up" your debt payments on multiple accounts, stop doing that and channel the cash in a more productive approach toward one debt. Let’s review both methods and get a third tip for handling debt now.

For my clients, May is when we focus on three key financial planning topics: debt, credit reports, and estate planning. This post will focus on estate planning. It really is the gorilla in the room for many people. It’s also the topic people seem to like the least, and it really does take time to make personal decisions.

Mother’s Day is fast approaching. This year, it’s Sunday, May 12. 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.

Summer is fast approaching and 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. These days, we need to consider disruptions like saw during the pandemic. It’s necessary to have an emergency binder for other reasons. 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.

Financial planning is a key cornerstone that plays a crucial role in not just shaping but also determining the overall life trajectory of an individual's wealth and financial well-being. By meticulously crafting and implementing a well-thought-out financial plan, individuals can pave the way for a more secure and prosperous future for themselves and their loved ones. Think it doesn’t matter? Just ask a Rockefeller!

National Financial Literacy Month (NFLM) is all month long every April. Did you think I wouldn’t give you more resources for this important month? Regular readers will recognize these resources. Here are a seven free resources for National Financial Literacy Month 2024 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.

I think it’s fortuitous that spring cleaning and National Financial Literacy Month (NFLM) seem to coincide. Decluttering your living space can be a freeing and uplifting experience. A clean, well-organized space is a pleasure to be in. Let me share my recent experience with you.

Regular readers of this blog know that April is a big deal in personal finance. It’s National Financial Literacy Month (NFLM) and boy, do we need it! It seems the retirement crisis in America is not getting better. Based on a survey by Pensions & Investments, Gen Xers have a savings shortfall for retirement of about $451,000. Boomers are a little better off, but still need another $291,000 for retirement. A study produced annually by Northwestern Mutual, found in their 2023 Planning & Progress Study, that Americans believe they need to save $1.27 million for retirement. Those percentages and averages represent a large number of Americans. And, the median 55- to 64-year-old's 401(k) account balance for 2023 was $71,168 (that’s a decrease from $89,716 for 202), according to Vanguard data (How America Saves, 2023). Note the term median, not average. The average 401(k) balance for 55- to 64-year-old’s is $207,874. 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. Pay attention to terms and who is reporting what as the numbers can be wide-ranging due to average, median, and age groups.

Do you have one of the following four basic equity awards from your employer? Many of us are familiar with retirement plans such as a 401(k) or 403(b). Some of us even have a TSP (Thrift Savings Plan). However, when employers share a bigger slice of the pie and reward employees with equity, it can get a little more confusing for recipients. What is equity? Well, at its most basic form, it’s an ownership interest.

Warehouse membership stores such as BJ’s, Costco, and Sam’s Club offer a multitude of benefits to savvy shoppers looking to save money and make the most out of their purchases. These membership stores require a fee which usually ranges from the low $40s to over $120 per year depending on membership level. Many are dedicated to one brand membership store over another. In the west, Costco seems to dominate. In the middle of America and the south, Sam’s Club dominates. But are these memberships worth the money?

In celebration of Women's History Month, it is essential to highlight the importance of financial planning specifically tailored for women. Despite progress in gender equality, women still face unique challenges when it comes to financial security. Financial planning can help make their future brighter and more secure.

Paying for professional advice can offer immense value in various aspects of life, especially when it comes to financial matters. Seeking guidance from a qualified, fee-only advisor can empower individuals by providing them with personalized strategies tailored to their specific goals and circumstances. By having a pro on your side, you can benefit from their expertise and experience, which can empower you to make informed decisions and achieve your goals more effectively.