Solopreneurs are innovative, hard-working, and exciting people. Self-employment can be a really wonderful and rewarding career path. There are many financial planning implications to consider, especially if you are a one-person operation. You have many unique challenges that I’d like to talk about from my perspective as a fee-only financial planner. I wrote an article …
Solopreneurs: Unique Needs, Solo 401K, and More! Read More »
Ultimate Responsibility There is a financial responsibility spectrum. In some households, managing the finances is fairly equal. In fact, it is more and more common for spouses to keep their finances separate so the responsibility is 100% for each. Other households have one spouse that handles the finances much more than the other, even to …
Fee-Based vs. Fee-Only Financial Advisors At its simplest, Fee-Only advisors only get compensation directly from their clients. Fee-Based advisors can charge their clients fees, but they can also get a commission on insurance sales and revenue sharing based on investment options chosen. Imagine you go to the doctor, and the doctor does not charge you …
More and more people are realizing they want to work with financial advisors who are Fee-Only (as opposed to Fee-Based), Independent, and act as a Fiduciary at all times. These advisors are literally only paid for advice instead of receiving commissions for selling products. As the demand for these types of advisors increases, it becomes …
Retirement Planning For Teachers Planning for retirement is hard enough, but retirement planning for teachers can be even harder. If you are a Baltimore City Public Schools teacher, you may be confused about your 403b options. That is why it is so angering to know that average 403b fees are up to 3 times …
What should you do with an old 401k/403b/Employer plan? You have options. It seems like this is coming up more and more as people seem to change employers more and more. Some people have so many old employer plans that it seems they are 401k “collectors”. Retirement planning is complicated enough without adding unnecessary accounts …
What To Do With Your Old 401k/403b/Employer Plan Read More »
Financial planning for dual-income families (also called two-income households) obviously consists of all the normal financial planning. However, there are some challenges and opportunities unique to two-income families. The specific challenges and opportunities will depend on the life-stage of the family. For example, Generation X financial planning may revolve around paying for college or ramping up retirement …
When tasked with saving for your kid’s college and your retirement at the same time, how do you know which to prioritize? Deciding between your child’s college education or saving for your retirement is one of the most common financial issues you will face in your 30s and 40s. In a perfect world, we would …
Save for Your Child’s College Education or Your Retirement? Read More »
