By Preston Rosamond When it comes to discussing money with your significant other, do you typically enjoy talking through your financial situation or is it a topic you tend to avoid at all costs? If you find yourself in that second group, you may find comfort in knowing you’re not alone. In fact, a couples and money survey revealed that 26% of Americans turn a blind eye to the issue of finances in their relationship...
By Preston Rosamond Retirement is one of the biggest financial transitions you’ll make in life. You go from earning a paycheck and growing your nest egg to depending on it and trying not to outlive it. It’s a delicate dance—one that requires extra monitoring to make sure things go as planned. Over the years, I’ve seen retirees make the same costly mistakes over and over again. Today, let’s talk about 5 of those common mistakes...
The U.S. stock markets had the worst day of the year on Monday, reacting to news of escalating trade issues with China and fears of an economic slowdown. After the Dow closed down 767 points, investors are understandably nervous. If you are worried about your retirement accounts, you’re not alone. But during stock market volatility, it’s important to keep a level head to avoid financial mistakes. To put our current market environment in perspective, let’s...
By Preston Rosamond Out of sight, out of mind. That’s how most of us approach life insurance. You bought your policy and did your job of protecting your family, so you’re good, right? Maybe; but maybe not. Life insurance is not supposed to be a set-it-and-forget-it financial product. It’s great that you have a policy, but if you don’t review it, how can you know it’s working for you if you don’t check in every...
*photo credit to Larry D. Moore CC BY-SA 3.0 By Preston Rosamond Marble Falls, Texas, is a wonderful place to live and work. This 130-year-old town sits right by the Colorado River and is located in the middle of the Highland Lakes area, the biggest series of lakes in Texas. (1) It never gets too hot or too cold here (with an average summer temperature of 85℉ and an average winter temperature of 55℉), making...
By Preston Rosamond Talking to your kids about money can feel like a taboo topic. It’s often right up there with the birds and the bees. But a recent study by Cambridge University found that children develop money habits by the age of 7. (1) This means we need to talk to our kids about money now—whether your child is a toddler or about to graduate high school. If you are unsure how to teach...
By Preston Rosamond I don’t know what it is about summer, but it seems that everywhere you look, you hear about people vowing to read more in the summer and stumble on book lists for great vacation reads. Whether you’re looking for a beach read, something to stimulate your mind, or just want to dig deeper into a particular subject, reading is never a bad idea. In fact, Yale researchers have found that people who...
By Preston Rosamond We are now well into 2019, and things are looking much better than they did only six months ago. Now is a great time to pause and take a look around at the economy. The Markets Are Soaring So far, 2019 has been a much-needed breath of fresh air for many investors, several of which just got the wind knocked out of them there at the end of 2018. Not only have...
By Preston Rosamond Have you had a major life event happen recently that’s forced you to rethink your finances? Maybe you just had a baby, got married, or experienced a death in the family. Whatever it is, it usually takes one of these life-altering events to make you realize you need to take action with your finances. Thankfully, it’s never too late to start. Here are 5 steps you can take today to get your...
By Preston Rosamond What is your number-one fear in retirement? If you’re like most Americans, you might be afraid you won’t have enough money to last through retirement. In fact, only 27% of pre-retirees believe they will be financially ready for a retirement lasting 10 years. (1) While your current retirement account balance may be causing you stress, there are other little-known and often ignored threats that could cause you to lose the nest egg...
By Preston Rosamond Your employer is always looking for ways to both reward and effectively motivate you. They feel if they can align your financial well-being with that of the company, it will motivate you to do your best and contribute positively to the company’s performance. One of the ways they do this is by offering an Employee Stock Purchase Plan (ESPP). How Does An Employee Stock Purchase Plan Work? An ESPP is a program...
By Preston Rosamond If you are reading this article, chances are you are among the few who have a decent understanding of finances. However, when you really stop to think about it, how much do you actually know when it comes to the basic financial concepts that impact your portfolio? The unfortunate truth is the majority of adults today are financially illiterate. In 2014, McGraw Hill Financial teamed up with Gallup, Inc., the World Bank...