When Is The Right Time To Refinance?

With the Fed recently raising interest rates, many people have started to wonder if they should act on the refinance now or wait to see what happens with interest rates.  If you are buying a new home, thinking about refinancing your mortgage, or just wondering where this is all headed, it is a good time to start crunching the numbers and examining the current mortgage you have in place.  So, when is the right time to refinance? Side note: There is “Rule Of Thumb” – the rule of thumb really boils down to a math equation which I will lay out for you here in the article. Question 1: What Is This Going To Cost You? There is always a cost to refinance. Sometimes you will hear on television these deals that say no closing costs or no cost to refinance.  What some companies do is simply roll those closing costs into the newly refinanced loan so instead of refinancing ...

Read More →

Is It Time To Do The Holidays In July

It’s July.  Why in the world would we want to start thinking about holiday time in December right now.  One of the biggest financial hangovers people have in their budgets is when they overspend during the holiday season.  Now that we have hit July, I have some smart money moves tips that can put a few of those dollars back in your and maybe even take some of the stress out of your life.  Here are five money ideas for doing Christmas, Chanukkah, or whatever holiday you celebrate with your families in December to save you some money. What’s On Sale Now – When you are out and about at the stores, you should always take a peek at the clearance racks. You might find some cool piece of clothing, shoes on sale, or some piece of technology that is being upgraded to a new version.  For sure, all summer clothes will start to go on sale, so this can be ...

Read More →

Five Wedding Gift Ideas For The Modern Day Bride And Groom

Several years ago, I wrote a your smart money moves blog https://bit.ly/2JZfUK4 about what is the right amount to give for a wedding gift.  According to CNBC, the average cash gift for a wedding across the United States is $160 with the state of Vermont the highest at $240 and the state of Arkansas the lowest at $73. Trends are changing this year in how couples plan for their wedding.  Rather than starting with palette, couples are planning out wedding vision boards that capture their vibe and celebration instead.  With the cost of flowers rising through the roof, balloons are being used as a replacement that is colorful, fun, festive, and most importantly less expensive.  Let’s not forget that in the world of social media today, couples are looking for some of those Instagrammable moments including seating card displays and interesting drinks as their guests enter the reception. Here are five wedding gift trends that you need to know for ...

Read More →

Five Money Moves To Make If You Are Buying Or Selling A Home In 2018

With interest rates creeping up and home sites being built by the droves, many people are wondering what they should do on both the buying a selling side here in 2018.  Is it too late to buy home?  What interest rate is too much? How can I sell my home quickly? What other factors should I watch out for with my real estate?  Here are five money tips on buying and selling homes for the rest of 2018. This Is The Law Of Supply and Demand Supply is shrinking amongst great demand – Remember, real estate is always driven by supply and demand. Depending on where you live, you may want to wait for the bubble to burst before you buy or look for areas in your city that are still gentrifying and try to buy before the big uptick happens in those areas. Monthly Supply of houses is at the bottom range – Monthly housing supply is at five ...

Read More →

How Do You Know If Your Portfolio Is Doing Well

Happiness is all about expectations met or unmet.  There have been so many articles written about how to discuss fees with your wealth manager or financial advisor, but very few that talk about the mutual responsibility between the advisor and the client about how to measure performance of your investment portfolio.   This is an important discussion because whether you are managing your money yourself or you turn it over to a professional, the question is do you know how to measure the performance of your portfolio? In 2008, when the S & P 500 had a -37% return, if your portfolio achieved a return of -35% because you were using the S & P 500 as a benchmark would you have been happy?  Conversely, in 2013 when the S & P 500 had a 32.39% return, would you have been happy if you and your advisor agreed that 6% return was the absolute return that was agreed on with you ...

Read More →

Can You Retire On 1 Million Dollars?

One million dollars used to be the gold standard when it came to figuring out how much money you would need to never have to work the rest of your life.   Now, we all know if you really put your mind to it that you could probably retire on a million dollars, but the real question is whether or not you could maintain the standard of living you have been accustomed to off of your current income.  With our society having become more of an outsourced society than a do it yourself society, here’s why 1 million dollars isn’t what it used to be. The Slient Killer – Inflation may be the number one item underestimated when it comes to overall retirement planning. Inflation is on the rise, and if it rears its ugly head at the 4% level you better seek shelter to figure out how to make your money last.  At a 4% inflation level, 1 million dollars ...

Read More →

Are You Breathing Easier?

Have you ever heard of “Breathwork” or “Rebirthing”? I’ve been doing various forms of breathwork for years. The concept behind it is that when you breathe deeply and rhythmically you oxygenate the body and emotions, feelings and even beliefs that you no longer choose to keep are brought to the surface and released from your body and energy field.  It’s always best to do this with a coach that you trust because some of those emotions and feelings are ones that we’ve labeled bad and we don’t want to feel them. They are the ones that have been stuck for years in our sub-conscious mind.  When they come out, we have to be in a non-judgmental space so we can feel them fully, release them and let them go. We release them so we can Breathe Easier!! It’s kind of like looking at your financial situation. Sometimes we’ve avoided looking at our finances. We may have hundreds of thousands or ...

Read More →

Does Your Business Need A Buy-Sell Agreement?

Entrepreneurs are generally good at one thing when they start their business and that’s generating top line revenue.  Once they create enough top line revenue then they begin to think about how to drive bottom line profitability in their business.  As the equity value of the company grows, most owners never consider some very important planning items because they believe they are invincible.  What happens if my business partner(s) get divorced? What if they die?  What if they become disabled?  Do I want to be working with my partners kids or spouse?   One of the key considerations for most business owners is whether or not to get a buy-sell agreement and get key person insurance. A buy-sell agreement is a legal contract that provides for the sale of an owner’s stake in a business at a ‘trigger’ event.  The sale of an owner’s interest could actually trigger for many reasons including retirement, death, disability, divorce, bankruptcy, or even a conflict ...

Read More →

Five Ways To Save Money On Spring Break

With Spring Break right around the corner, families across America are thinking about vacations to staycations wondering how to fit this into their family budget.  If you aren’t careful, Spring Break could cost you upwards of $5,000 or more depending on how far of a getaway you plan for your family.  There are a number of ways to save money along the way, and if you plan appropriately you can even save money on your trip. What’s In Your Wallet – We walk around all year with our Contanza size wallet full of cards we don’t use at all. Before you spend a nickel on Spring Break, see if you have a AAA card, an AARP card, a Student ID (if a student is with you), or some other discount card that can offer you savings at local venues, rent-a-cars, or restaurants.  In addition, double check what your credit card may offer from lower cost Uber rides to savings at ...

Read More →