Great Points

Episode Description: With 2 children hoping to go to college, a mortgage, and both parents working many individuals and couples question if they need life insurance, do they have enough and what types are the right ones.  There is no magic figure or one size fits all formula for determining your insurance needs.  In this episode, I will cover some ways to assess your insurance needs and how to avoid being sold the wrong type of coverage.  

Receiving a financial benefit, whether it be ten thousand or one million dollars, due to the death of a loved one is often a more challenging financial situation than people think.  In this episode, we are going to talk about some of the mistakes that people tend to make when learning about a possible inheritance and some strategies to help make effective decisions during an emotional time.  

Many people I talk to are concerned they are not saving enough for the future or they want to know how they are doing compared to their peers.  In this episode, we will discuss the importance and urgency for savings, how to recognize the various ways you may already be saving, and some creative approaches to increasing your long term savings rate.

Understanding how to use and manage debt can be a powerful tool in your financial plan.  However, there are many detours that can lead you down the wrong path.  In this episode, we will discuss the concept of good debt vs bad debt, ways to avoid too much debt, and approaches to reducing your debt if you are already in the soup!

Over the last 9 months, most Americans have been unable to spend as much as they normally would on discretionary items like travel, dining, and entertainment.  If you were fortunate enough to maintain your earnings potential it is likely you have some extra money in savings - the question I get as an advisor is “Should I put some of this toward the mortgage”  In this episode, we will discuss the pros and cons of putting extra toward the principal of the mortgage and review some of the concepts of compounding interest to help you make confident decisions for your personal situation. 

Transportation is a necessary expense in everyone’s household budget.  However, the range of what you spend on the means of transportation can vary widely.  In this episode, we are going to discuss some talking points on making the best decision for your personal situation.  We will also discuss the other costs of a car purchase and the future value of making solid decisions in this area of your budget.

Having nice things feels great! Until it is time to pay for them.  In this episode, we are going to discuss how easy it is to spend more than you make and some approaches to make proactive decisions that align with your long term goals while still being able to enjoy your money today. 

Everybody has their own unique views on money that are shaped over time by parents, friends, media, and personal experiences.  These views can shape the decisions they make in key financial matters.  Unfortunately, these preexisting views may not always lead to the most effective financial decisions.  In this episode, we will discuss ways to identify your views on money and some ideas to challenge internal dialogue to ensure you are making confident financial decisions for the long term.    

With most people spending a majority of their time in their homes over the last few months the question of space has been very common.  Do we need more room/space? Can we afford more room/space? Should we do the work or just move? In this episode, we will discuss a path to address some of these questions, recognize the potential danger zones, and to ensure you are more confident in the decisions you will make in the future.

In this episode, we will review the options for saving for long term goals like retirement. We will address the benefits of a 401k but also cover the drawbacks of this type of plan and the alternatives to saving. We will discuss the tax implications on savings, the idea of managing liquidity for unexpected expenses, and some simple tips for developing a manageable savings plan.