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Financial Rules of Thumb: 100 Minus Age

Over the next few weeks, I’m going to spend some time talking about all the financial rules of thumb we’ve all heard, and exploring whether or not these soundbites and platitudes apply as universally as we’ve been led to believe. Last week we talked about emergency funds.…

Liabilities in Disguise

The generally accepted definition of an asset is anything of value that could be turned into cash. I’m sure you’ve heard this, right? Well…I don’t love this definition. I define an asset as anything that can be reasonably expected to put cash in your pocket, or increase in…

Risk: Tolerance vs. Capacity

What do you think of when you hear the word “risk”? Skydiving? Starting a business? Seems like we’ve all been weighing risks in one way or another over the past year, but the concept of risk is one we talk about often in the world of financial planning. In my job, risk…

Stress-testing Your Financial Plan

You know the saying - when it rains it pours, right? Seems like life has a way of piling up on you sometimes, and you just can't catch a break. I'll tell you a personal story. In the space of two weeks recently, my car had to go in for repairs, I needed unexpected dental…

When Should You Take Social Security?

One of the questions I hear most often from people approaching or already in retirement is, "When should I start taking Social Security?" For a lot of people, Social Security funds the bulk of their retirement. How and when you decide to take your benefits is one of the…

Considerations For Your Last Few Working Years

As you're getting into the pre-retirement stage of life and you start to imagine a life beyond your working years, be sure to take some time to look very closely at your retirement picture and make sure all the details are in order. You want to retire right the first time -…