In the News

An Open Letter to Maddy

Dear Maddy, THE REAL WORLD - It’s Not That Bad…
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 06 May 2019

An Open Letter to Maddy

I am so excited for my oldest daughter, Maddy, to graduate from the University of Wisconsin, Madison with a corporate finance major and wealth management minor this May. Although she initially thought the financial planning profession would be incredibly boring, Maddy took a psychology course that introduced her to the interesting meaning behind money, plus took an aptitude test that indicated financial planning would be a great fit for her interests and skills. I am excited that she has her first wealth management job and an apartment. I kept telling her about my excitement to see her “launch”. When Maddy asked if I could please stop talking about launching as she was really sad about leaving college. I held back from sending her the cost of her auto insurance rates as I was excitedly ready to take her off our policy and that this was all part of her launching process.

Support the 2019 YWCA Minneapolis Circle of Women Event on May 8, 2019

Thursday, 02 May 2019

Support the 2019 YWCA Minneapolis Circle of Women Event on May 8, 2019

There is something powerful about coming together to listen to those whose voices aren't always heard -- the participants of the life-changing programs of YWCA Minneapolis. 

During the Circle of Women program, girls and women whose lives have been changed in small and profound ways share their stories with attendees. Be inspired by their stories!

Date: Wednesday, May 8, 2019

Time: 10:30 am - 1:00 pm 

Location: Minneapolis Convention Center  

Cost: $150 per ticket 

Click here to register to attend the event or to donate to this wonderful cause 

How to Keep from Spoiling Your Adult Children in Four Steps

We are in the middle of a massive, $68 trillion-dollar wealth transfer. This epic shift of wealth from Baby Boomers to Millennials will be one of the largest financial transfers of all time.
By Kathy Longo, CFP®, CAP®, CDFA
Tuesday, 23 April 2019

How to Keep from Spoiling Your Adult Children in Four Steps

Baby Boomers are the wealthiest generation in history and 45 million households will move trillions of dollars to the next generation. But with that transfer comes worry and fear of spoiling or creating an entitled generation. We’ve all heard sayings about how most wealth is lost in three generations. Interestingly enough, it’s actually often lost in two. In fact, 7 in 10 wealthy families have lost their fortunes by the second generation, and that number goes to 90% by the third. The theories for why this occurs focus on a lack of communication and a lack of financial preparedness for the heirs. In this article, we will go over four different steps to pass your wealth onto descendants without spoiling them or leaving them ill-prepared to manage their newfound wealth.

 

Getting Married… Next Steps After the Big Day

Planning a wedding can be a lot of fun! There is the excitement of picking a venue, inviting all of your friends/family, and planning the honeymoon. But there is also a ton of work involved and the work doesn’t end once you are married.
By Nicole Swanson, CFP®, ChFC®
Friday, 12 April 2019

Getting Married… Next Steps After the Big Day

After the big day, there are many things to consider updating, such as beneficiaries on accounts, your legal name, identification, and estate planning documents. I am currently in the process of planning my wedding, which will take place later in 2019, and I wanted to share some of the items on my checklist that are relevant to our long-term financial plan. Below are some things to consider.

 

Managing Money When You Are Busy

By Kathy Longo, CFP®, CAP®, CDFA

Thursday, 28 March 2019

Managing Money When You Are Busy

We all want to devote more time to our money. In the same way, we want to Marie Kondo our homes, get on the Keto train and practice more mindfulness and meditation. But reality and daily obligations have a way of getting in the way of all those aspirations! Instead, we are often bouncing from one urgent situation to the next, be it work, picking up kids, appointments, etc. By the time our feet are up and the TVs are blaring, the idea of managing your investments is pretty far down the list. The good news is that there are some easy, low-effort ways to get on top of your finances and be able to check something off that long to-do list.

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