By Preston Rosamond Wendy Mitchell, author of the extraordinary Alzheimer’s memoir Somebody I Used to Know , said, “Why feel ashamed of having a complex brain disease? People are afraid to talk about it.” It’s true that a devastating Alzheimer’s diagnosis can bring about a range of emotions for both patients and their loved ones. From this point forward, financial planning is essential to ensure proper care, protection, and comfort. During this difficult time, we...
By Preston Rosamond An uncomfortable shift occurs when your parents reach a certain age. It’s when you realize that rather than them helping and guiding you, it’s now the other way around. This role reversal, in addition to being emotional, can leave you responsible for your parents or the estate they leave behind. If their affairs aren’t in order, it’ll be up to you to take care of the details in an already stressful time...
By Preston Rosamond Most business owners will agree that owning your own business is not just a job—it’s your life. This emotional investment can make it difficult to find a balance between prioritizing personal finances and your business. For example, a common struggle business owners face is creating a plan to convert their successful business into long-lasting personal wealth, namely retirement. Many small business owners invest personal savings into their business, and 34% of business...
By Preston Rosamond Among the many ramifications of the COVID-19 pandemic, one major takeaway is a renewed appreciation for a steady income. The cherry on top is if your employer also offers comprehensive benefits, which greatly increases the potential for net gains from your income. Utilizing these benefits effectively can help you either save a small fortune in expenses or gain a fortune through investments. Today let’s go over some of those benefits—and some you...
By Preston Rosamond Shopping for life insurance—and, indeed, any kind of insurance—is not a one-and-done kind of deal. As your circumstances change, you will likely find that your life insurance coverage and add-ons need to change as well. After all, life insurance is one of the most important components of your financial plan to make sure your loved ones are protected if you pass away. The truth is, you don’t know when your family is...
By Preston Rosamond What are the most important things in your life? Family? Health? A sense of purpose? While money may not top that list, it affects every part of your life and can give you the security and stability that positively impacts the things that matter most. But because of its far-reaching impact, managing money often leads to stress and worry. That’s why an advisor plays one of the most prominent roles in a...
By Preston Rosamond The last thing we want to think about is one day leaving our children. Forget the somber details; rather, focus on the positives—the legacy you’ll be leaving them. Have you thought about what that legacy will look like? Will the inheritance you leave for your kids be a gift that ensures their security for years to come, or a mess of assets, liabilities, and confusing records that will take years to sort...
By Preston Rosamond The stage of life after retiring from a career is often referred to as “the golden years.” More time for family, traveling, and hobbies…what could be better? And after the year we’ve just been through, I’m willing to bet everyone’s looking forward to a peaceful retirement now more than ever. But those golden years don’t come without active planning and saving. There are countless retirement savings options—the problem is finding the best...
By Preston Rosamond Regardless of where you fall on the political spectrum, it is true that each new presidential administration ushers in policy changes. A changeover in administration in the White House will likely have at least some impact on your personal finances, which can cause uncertainty or even fear for many of us. A change in our country’s leadership can be a good time to reevaluate your financial plan. Broadly speaking, you want to...
By Preston Rosamond Gold has a multitude of special characteristics: it conducts electricity, doesn’t tarnish, is very easy to work, and has a great color and a brilliant luster—just to name a few. Gold can also be a useful tool for diversification. But do the positives outweigh the negatives? Gold has been used for centuries for many purposes, including preserving wealth and hedging against weak currencies and economies and inflation. The price of gold tends...
By Preston Rosamond Our retirement can span decades and require sizable assets to take care of all our needs in our non-working years. Every retiree is trying to figure out how they can make the most of their golden years, while ensuring they don’t run out of money. With so many factors to consider, pinpointing the exact amount of assets we need can be tricky. Add in the glut of contradictory advice online and we’re...
By Preston Rosamond 2020 is finally behind us and 2021 is well underway. But the COVID-19 pandemic and its far-reaching implications still disrupts daily life across the globe. Although resilient Americans have adjusted and adapted to these uncertain times, there’s no end in sight to the increased stress you’ve likely been experiencing over the last year. There’s still a lot to lose sleep over: the off-and-on shutdowns and quarantines; job and business uncertainty; concern for...