fbpx

Is Your Retirement Plan Full Of Swiss Cheese

Last year, I did a piece on retirement planning assumptions.    As I continue to see more and more plans done by other financial advisory firms, I become more concerned about consumers.    Most projections that are done in business or in your personal household need to carry assumptions.   These are the variables in the equation that allow to make a reasonable assessment about what needs to be done when you are trying to achieve your goals.  When you last did your projections for retirement through the tools offered from your 401(k) plan or the nifty 35 page book your financial advisor put together, are you sure the assumptions that were made were explained to you clearly?  You may have left feeling great about yourself only to realize now that your plan is full of gigantic Swiss cheese like holes.   Here are ten assumptions you need to consider within your plan.  I highly recommend as a smart money move you use conservative ...

Read More →

How Much Does That Tooth Cost?

My son is now at the age when the baby teeth start falling out.  I forgot how exciting this event is for kids.  Every day he tells me that it is going to fall out today.  In anticipation, his grandmother has given him a small little box to be able to put the tooth under his pillow for the Tooth Fairy. This naturally causes us parents to wonder how much money we need to leave as the Tooth Fairy’s representative.   I received a quarter when I was a child, so I thought that a quarter would work.  My non-finance major wife informed me that due to inflation, it needed to be more like a dollar or two.  Some recent studies show that the national average is up to $3.  So that brings us back to what is an acceptable amount. The Tooth Fairy dates back to the early 1900s to symbolize a rite of passage for the child.  Money was not ...

Read More →

Be On The Lookout For These Four Financial Scams

How many of you have received this type of e-mail at one point in your life . . . MY AIM OF CONTACTING YOU IS TO SEEK YOUR ASSISTANCE IN TRANSFERRING THE SUM OF THIRTY FIVE MILLION UNITED STATES DOLLARS ONLY (US$35,000,000) OUT OF NIGERIA AND INTO YOUR TRUSTED BANK ACCOUNT ABROAD. THESE FUNDS WERE PART OF THE FUNDS, WHICH WAS FOUND IN HER LATE HUSBAND’S PRIVATE ROOM. IMMEDIATELY AFTER HIS SUDDEN DEATH LAST YEAR AND SHE QUICKLY INFORMED ME, SINCE I VIRTUALLY RUN MOST OF HER SECRET BUSINESS BOTH HERE IN NIGERIA AND OVERSEAS, AS SHE HAS A LOT OF CONFIDENCE IN ME AND FORTUNATELY WITH MY IMMEDIATE ASSISTANCE, AND CONTACT WE WERE ABLE TO DEPOSIT THE MONEY IN A SECURITY VAULT PENDING WHEN THE WHOLE SITUATION WILL BE CALM. These scams were known as the Nigeria Scam letters, and most consumers know that if they receive these they should immediately delete them and not respond.   However, today there ...

Read More →

5 Inexpensive Baby Gifts That Will Make You Shine

You just got the news.   One of your friends just had their first baby and now comes the question on how to make a smart money move with a baby gift that won’t break the bank.   You would like to do something for them that is unique and special, but you just don’t have a fortune within your budget to spend on the gift.     I promise you that rattles, blankets, and onesies won’t separate you from the pack.  Here are five ideas you can use that can make you shine with your friends and leave a lasting impression for the years to come. Favorite Books– You can create your own nice little package of 3 or4 timeless classics that almost all parents will use at some point to read to their kids.   Package together something like Goodnight Moon, Where The Wild Things Are, The Very Hungry Caterpillar (almost any Eric Carle book), or Are You My Mother are all books ...

Read More →

Your Butt Dialing Costs Us All Big Money

We’ve all done it before.    It’s that infamous term people call ‘pocket dialing’ or ‘butt dialing’.   It’s that time when you get a call from someone unexpected and after the third time you’ve said ‘hello’, you realize that the phone calling you from the other end is lodged somewhere deep in the pocket of somebody else who has no idea you are eaves dropping on their conversation.    It can be embarrassing at times.    Remember that morning after where you check the sent and received calls from the night before and aren’t quite sure why you called three or four of the names on the list.   Pocket dialing can be a costly ‘un’smart money move especially if you leave the wrong message for the wrong person at the wrong time.  Recently, I read a story about how this phenomenon is costing us all big money. Nearly 40% of the time a New York City dispatcher answers a 911 call, there’s no ...

Read More →

Is Your Relationship Worth $168?

Valentine’s Day is here and The National Retail Federation (NRF) says Americans will spend nearly $18 billion on Valentine’s Day this year.  The average guy expected to shell out about $168, according to a survey commissioned by the organization. Women say they’ll spend about half that amount at around $85.  (source www.nrf.com) Valentine’s can be such a difficult holiday because you never know how much money you should spend or you don’t always know what the right thing do is for that special someone in your life.    I think it goes without saying that your relationship is worth much more than $168, but know that whether you spend more or less than that amount won’t matter as much as how much of your heart you put into the gift. If you are thinking about saving money, here are five small money saving Valentine’s Day tips I have: Buy roses in a color other than RED! It’s a Tuesday, so bring ...

Read More →

The Technology Sabbath

I’m not really sure sometimes that all the technology we have has made everything so much better.    When you walk through the mall most people don’t make eye contact because they are looking down at their smart phone.   Well, nice to meet you as well.    If you look around the dinner tables at these casual fare restaurants, usually one or two people aren’t even engaged in the conversation because they are engrossed in a texting conversation.  Well, those must be some interesting dinner conversations.   Each time the phone buzzes on the tables, it creates a Pavlovian reaction that makes us salivate to see what it is in your e-mail.  Well, just pick up the phone every time is calls your name.   When do we need a relief from technology? There’s been a lot of debate recently on how much technology is too much technology.    It made me think about how many evenings I’ve got my laptop open, my smart phone ...

Read More →