I’m finally getting around to reading How I Invest My Money by Josh Brown and Brian Portnoy—it’s a book about how financial professionals manage their money and financial plans. It’s filled with stories from some of my very close friends and I love to see my friends highlighted in such an amazing and important book. As I read a couple…
It’s year-end tax planning time… I’m sure you’ve heard of tax-loss harvesting—the process of selling investments in a taxable investment account at a loss to realize the loss and be able to offset future capital gains. Financial advisors and CPAs often recommend this strategy and robo-advisors will even take care of it for you. It’s a strategy worth exploring and…
You’re probably aware of the most common risks to a sound financial plan: Too much investment risk Too little savings Out of control debt Unexpected unemployment Disability Death Bad behavior (emotions lead to poor decisions) No financial plan I’m sure I’ve left a couple off, but this pretty much covers the main contributors to a failed financial plan. A Risk…
“Personal Finance Is More Personal Than Finance” – Tim Maurer A couple of weeks ago Morgan Housel joined The AGC™ for one of our weekly webinars. During the conversation, he shared what he called his “worst financial decision, yet his best money decision”. The short version of this decision is he and his wife aggressively paid off their mortgage. You…
In this week’s Breaking Down The Long Game, Thomas and I discuss living a purposeful life. “Purpose” has become a point of emphasis for RLS Wealth and our clients; I believe it’s not just good enough for us to help our clients get their finances in order and have a plan, but we should help them discover what they truly…
The future of financial planning, as I’ve shared before, is going to extend beyond crunching numbers for retirement. The future of financial planning is going to focus on helping clients align their finances with their values—and that future is here. This week’s visual, inspired by Jack Butcher at Visualize Value, illustrates the process of aligning your goals with your mission,…
My colleague, Thomas Kopelman, created this great infographic for his blog post today–if you’re a young professional (or anyone getting a fresh start on improving your finances) be sure to head over to his blog to see how this actually plays out, but before you do here are a few additional thoughts I wanted to share: Not only does building…
In a new series, my colleague, Thomas Kopelman, and I break down his latest blog post over on The Long Game–we’re calling it Breaking Down The Long Game. In this BDTHG, we’re discussing time holding the crown for our most valuable asset. As I’ve gotten older, my family has grown, and my business responsibilities have increased I can definitely confirm…
A few weeks ago I had the opportunity to join Kayla Sullivan from Fox 59 to discuss side hustles and what entrepreneurs should consider when setting getting their side hustle off the ground. Getting a chance to be on the local media is always a lot of fun, but they typically are only able to use a very small portion…
If you look up inertia in the dictionary you will find its definition to be (emphasis is mine) “the resistance of any physical object to change its velocity. This includes changes to the object’s speed or direction of motion.“ Inertia is the glue preventing too many individuals from chasing their dreams, from finding and living their purpose, and from living…