Wish you were a better manager of your money? We make so many decisions every day. We can’t possibly make good choices all the time. When it comes to our hard earned dollars we want to make the best use of them possible, especially if we want to retire some day. Here are some helpful …
What is Money Anxiety Disorder? “Money anxiety disorder” is a term used by psychologists to describe a condition of constant worry and unease about money. The term seems to have come into use around 2008 to 2009, when the economy was unraveling and most people were concerned about their financial well-being. Additionally, research has shown …
People often have unrealistic expectations when it comes to investment returns. After all, what is a good return on investment? Risk plays a part, but how much risk do we have to take to earn good returns? Imagine you have come to my office for this conversation. Here’s how it might go. You told us …
As I prepared to write an article called “What is Wealth Management”, I realized that we all have different notions of what constitutes wealth. When an old acquaintance saw the name of my business, Stoffer Wealth Advisors, he said, “As soon as I have some wealth to manage I’ll give you a call.” Clearly he …
With all the data breaches that have occurred over the last couple of years it is hard to know when to actually ‘do something’ about protecting our credit. Having read a fair amount about the Equifax data breach issue over the last couple weeks I’m still somewhat skeptical of the level of protection we can …
Data Breaches & Closing the Barn Door: Protecting Your Personal Information Read More »
If you wanted to leave some money to your children, how would you split it between them? You could come up with numbers based upon their likely need for help. Or you could simply divide it equally…after all you love them all, well…equally. Equal distribution is probably the most common way of dividing assets. Yet, …
Retirement success means something different to each of us. Some people see themselves working in retirement because that’s what they’ve always done. Others are afraid to stop working for fear of running out of money. Some people just want to feel secure when they stop working and know they’ll have sufficient money to live. Since …
The 3 P’s of Retirement Success: Plan, Prioritize, Persist Read More »
Can money buy happiness? Think of all the times you felt pleasure as the result of buying something. When I started interviewing for my first job in the investment business I bought the most expensive suit I could afford. I felt like a million bucks every time I wore that suit! Of course that led …
We use money every day. We spend on things, experiences, etc. Maybe you are planning the next big adventure in your life…or figuring out how to save enough to remodel the bathroom. Behind these activities there is a presumption that money used in these ways will make us happy. Do money and happiness even belong together …
In the past several articles, we’ve looked at the variable nature of prices. What does a gallon of milk or a hotel room cost? How much does it cost to retire? What types of financial management services are there, how much do they cost, and which one might work best for you? In that vein, …
Back in 2008 a woman in her mid 50’s came to my office for an initial meeting to discuss her personal finances. She had rescheduled at least three times. About half way into our meeting I asked her, “So, how was it for you gathering your information to come see me?” Her response displayed such …
Consider the following scenario. You are perusing the menu at a restaurant, deciding what to order. The fresh, local salmon in a piquant sauce with sun gold tomatoes and tarragon has your mouth watering. It is $32. You definitely want fish, but immediately conclude that the salmon is simply “too expensive.” No, can’t do that. So …
