How High-Income Earners Can Avoid Wasting Their Financial Potential
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 07 September 2022
Coined by Fortune Magazine, the term HENRY stands for “high earner not rich yet” and it typically refers to individuals and families who earn between $250,000 and $500,0000 but haven’t been able to amass any real worth yet. It may be difficult to understand how someone making this much money could feel like they’re not rich, but with high costs of living, the reality is that high-income earners often feel that they’re far from rich. Research on the subject shows that 25% of families making $150,000 or more are living paycheck-to-paycheck.
Building a Financial Plan Based on Your Values Can Help You Accomplish Your Goals
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 24 August 2022
Each of us has our own unique set of money values and beliefs that we inherited from the people around us and the things that we experienced as we grew up. Here at Flourish, we refer to this history of financial influences as your “money story.” We have seen again and again how it defines how you relate to money, and it significantly impacts your financial habits – often in ways that you may not be aware of.
Having a better understanding of your money values and your money story can allow you to identify what may be hindering you from reaching your financial goals, while also providing you the opportunity to begin using your pre-existing money beliefs to your advantage.
Here are some tips on how to make your money story work for you.
Financial Steps that Can Set You Up for Future Financial Success
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 10 August 2022
If you’re in need of strategies to build wealth in your forties and find yourself worried about accumulating enough to fund your future, you’re not alone. In fact, research shows that the average 401(k) balance for Americans between the ages of 40 and 49 is $120,800, meaning there are a significant amount of people who have less than that stored away in their savings. Even if you feel behind, rest assured you can make significant strides toward building wealth in your forties. Read on for strategies to help you make the most of this decade and maximize your wealth for the future.
Seven Guidelines to Follow if You Want to Find Success in the Markets
By Kathy Longo, CFP®, CAP®, CDFA
Monday, 18 July 2022
Investing can be a smart way to save money for your future financial goals, yet many people lack tips for long-term investing success. What’s difficult about planning to achieve goals in the distant future is that it can be easy to get distracted by short-term goals or to lose motivation because the goal feels so far off. Investors who find success in the market do so because they tune out the short-term and, instead, focus on the long view of their financial plan – evaluating their money goals, income needs, and assessing the spending demands of their lifestyle.
As you look toward your own financial future, read on for a few basic investing principles that are helpful to follow for long-term investing success.
How Subconscious Human Behaviors Can Impact Your Investment Success
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 06 July 2022
If you’ve ever heard of behavioral finance, you know there are some very human ways we can make mistakes in our financial decision-making – and researchers have been studying these unconscious impacts for a long time. How and why we make financial decisions is dependent on a matrix of information and insight, a complex equation that can factor into the success – or failure – of our investment portfolios.
Investor biases, a psychological occurrence in which an investor makes decisions based on preconceived ideas or beliefs, could potentially lead to investment mistakes.
