Review Category : Family

How To Save BIG Money On Your Teenagers Auto Insurance

It’s Official!  Effective November 1st of this year, I officially have three children that can drive an automobile.  On one hand, it’s a sigh of relief because now I have three drivers who can make a run to CVS or Chick-Fil-A to do those small errands I simply don’t want to do at all. On the other hand, you simply worry every time your children get out on the road and spend your nights waiting up to make sure that they get home safely.   Beyond the bad and good of having your children be able to drive, the one that really hits home is your auto insurance. In fact, when my 20 year old went on to our auto insurance for the first time, even a seasoned financial advisor like myself gulped a little bit with sticker shock as a good solid student cost more than $2,000 per year.  When my second daughter went on about two years later and ...

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What Women Need To Rethink About Their Money After Divorce

  Have you ever heard that term ‘they traded in for a new model’ when it comes to discussion around a divorce?   While divorce is never emotionally easy, the more challenging part especially for women is thinking about how to get their finances set after the divorce is finalized.  Many women don’t build a financial plan to recalculate their own goals and objectives, nor do they always fully understand the implications of child support, alimony, or how to best get the assets set up that they took over after the divorce.  Here are five important consideration every woman should rethink after the divorce. Your Home – The last thing in the world you want to do is to sell the house that your kids are used to or move to a new school district. Just the thought of making new friends, new neighbors, and navigating a new school traffic pattern in the morning can be daunting.  However, many women take ...

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5 Ways You Are Wasting Money Without Even Realizing It

The truth is that more people are struggling with cash flow issues in their finances than they do with their investment assets.  The challenge is that we often blow our money in places where we don’t even realize it is going out the back door.  $20 here…$100 there…it can seem at times that we are nothing more than our own ATM machine.    It’s hard to define the difference between spending money and wasting money, but making quality decisions as the CEO of your family finances is paramount to having a successful personal financial picture.  Here are five ways I see that people waste money. Buying Too Large A House – We can convince ourselves that buying a large home is a great idea because we expect long term growth of the value of our home. Remember that primary residence should never be considered an investment, but rather your home.  The place you will raise your family or use a source ...

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7 Retirement Shirts I Won’t Be Wearing

When it comes to retirement, many people talk about how much of a lump sum they will need to make work optional. They discuss their future plans full of travel, golf, grandchildren, and giving back to charity. We often hear of the dreams of starting the business they always wanted to run and starting the volunteer work they never had the time for when they were working full time.  Over the past twenty-six years, I’ve seen many people retire and helped many retire successfully. At the risk of offending someone out there (because I am sure I will) I spent a few days up in New Jersey over the Fourth Of July and I saw a lot of bad shirts.  I mean really bad shirts.  Don’t know why it got me to this off the beaten path retirement topic, but I thought I would share my list of seven shirts you’ll never see me wearing during retirement.  Remember, if you ...

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How To Get That College Graduate Out Of The House

Now that your baby is all grown up and has an official college degree, your responsibilities have ended, right?  Wrong!  Your son or daughter has informed you that that they will be moving home after college while they prepare themselves for their next phase in life. According to The Guardian, almost a third of Italian adults (31%) live with their parents.  The highest proportion was amongst 18 to 29 year olds for whom unemployment is particularly high with 60.7% reported living at home.  Are we taking over the Italians?   Last year, NPR reported that a whopping 32.1% of kids aged 18 to 34 were living at home with Mom and Dad. Here are four tips to get that college graduate off the couch and launching into real life. Use Social Media…Yes, Social Media – In order to get your college graduate up and working in a real job, you have to make them treat getting a job like a job. ...

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When You Realize The Best Things In Life Are Free

Sometimes, people will make fun of me for driving a car with 204,000 miles of wear and tear on it.    There isn’t a month that goes by that someone doesn’t ask me, “Ted, when are you going to get a new car?”  On top it, I’m not the kind of person who buys myself much anymore.  I don’t spend a lot money on clothes, I don’t have an expensive hobby, and I don’t even wear a watch anymore.   You’d think I was bunkering up for a financial Armageddon, but in reality a few years ago I realized that no matter how much money you make the best things in life are free. Growing up as a child, we would have NEVER even thought about going to a four star hotel.  Now, for most families it isn’t even about taking a vacation.  It’s about the style points associated with the vacation.   “Hey, have you gone to the Ritz Carlton in …..?” ...

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Five Great Technology Mother’s Day Gifts

Mother’s Day is tomorrow and word on the street is that spending is up this year…bigger than ever. The National Retail Federation estimated that consumers will spend 23.6 billion dollars on Mom this year in 2017, so who says people aren’t shelling out their wallets for Mom. If you are counting that is an average of $186.39 per consumer which is an 6% increase from 2016. Moms work hard and they are entitled to a show of appreciation on their special day. Most consumers will acknowledge that appreciation with a greeting card (77.9%%), though it appears her loved ones will also look for special gifts. Two-thirds (68.5%) of those celebrating will buy mom her favorite flowers, spending a total of $2.6 billion, and 37% percent will look for spring sweaters and blouses, spending a total of $2.1 billion on apparel and accessory items. Mom’s loved ones will also buy 2 billion dollars of consumer electronics this year, so you should ...

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When You And Your Spouse Just Can’t Agree About Money

It starts with the small arguments. You don’t agree on where to eat out on a date night during the weekend. Then it turns to small petty arguments with not being able to agree on whether to paint the family room that has been all scratched up by the kid’s toys. Ultimately, it leads to full scale arguments about issues on whether to send the kids to private or public school, whether to vacation in Hawaii, and potentially doing a complete bedroom remodel 10 years after you have lived in your home. Although you tied the knot and agree it would be until ‘death do us part’, there are many nights one of you goes to bed before the other simply over the fuming battle about money. Money creates interesting behaviors in all of us.  Some of these feelings were ingrained is us as children based upon the way we were raised.  Some of us came from nothing and our ...

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