Planning Ahead Can Ease Your Financial and Emotional Transition into Retirement
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 23 February 2022
The transition into retirement can be an exciting time in many ways. After all, you’re finally going to have more free time to spend as you wish, whether that’s traveling, volunteering, taking up a new hobby, or simply spending more time with loved ones. Of course, this transition can also cause financial stress and emotional overwhelm if you aren’t properly prepared. That’s why it makes sense to plan out your exit strategy from the working world before the time comes.
How to Afford One of Your Most Expensive Investments for Your Children
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 09 February 2022
Over the past several decades, a college education has come to be seen as a necessity. If you want to secure a good job with the possibility of upward mobility, you’ll likely need at least a bachelor’s degree to help you get there. However, with tuition costs greatly outpacing the overall cost of inflation, actually affording college has become a real challenge for many individuals and families.
From estimating the overall cost for higher education a decade from now to trying to determine how much financial aid you will be able to secure, there’s a lot to consider when planning to fund an education. Review the five strategies below to start developing your plan of action for your children’s future college education.
The Path Toward Combining Finances Will Look Different for Every Couple
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 26 January 2022
Your money can feel like a very personal matter. Our behaviors and motivations around money are unique to us, encompassing our upbringing, experiences, and current situation in life. This can make merging finances as a couple a complicated process if it’s not approached in a thoughtful and intentional manner. If you and your significant other are considering merging finances as a couple, it’s important to understand that there is no one-size-fits-all approach. How you go about merging finances will depend on the comfort and trust present in the relationship, your relative income levels, the dynamics of your relationship, and more.
Ultimately, you have three options:
- Keeping your finances completely separate
- Keeping your finances partially separate
- Fully combining your finances
Below we’ll discuss the pros and cons of each option, as well as ways to determine which option might be best for you and your spouse or partner.
Replace These Outdated Ideas About Money and Take Control of Your Finances
Wednesday, 17 November 2021
For most of us, we inherit our money habits and develop our relationship with money from our parents. While a lot of us are raised to believe that talking about money is taboo, the reality is that it’s healthier to be open and upfront when discussing money topics. Avoiding conversations about money perpetuates financial illiteracy and provides an opportunity for bad money habits to take root.
There’s a lot that we can learn from our parents and it’s important to heed the lessons from those who came before us. However, there are some long-held beliefs about money that no longer hold in modern times, and believing them can lead to unnecessary financial hardships.
Read on for five generational money taboos that fail to hold water – and some mantras you can use to replace them.
Take these steps to create a strategy for lasting financial health
By Kathy Longo, CFP®, CAP®, CDFA
Wednesday, 27 October 2021
When you consider your overall health, you probably take stock of your physical health and mental health. You may even think in terms of spiritual health. However, how often do you factor your financial health into the equation of your overall well-being?
According to a recent article from CNN, seventy-three percent of Americans are stressed about their finances. When it comes to younger generations, including Millennials and Gen Z, that stress level increases above eighty percent.
Financial health is a critical component of your overall health. By taking a proactive approach to your finances, increasing your financial literacy, and committing to some consistent habits, you can achieve financial success. Use the 10 ingredients below to create a recipe for financial success in your life.
