Blog Posts

At times, we can be so focused on our financial health – maintaining a healthy cash flow, monitoring a budget, building a retirement plan – that we can forget about the importance of our physical health and how it may impact our financial future. It’s much easier to talk the talk about staying young than it is to walk the walk. Starting in our 20s and 30s, we commence a long, seemingly inevitable physical deterioration. Our maximum heart rate declines, and with it the amount of oxygen-bearing blood the heart can pump. Muscle is gradually replaced with fat and weight edges upward. And decade by decade, as oxygen intake drops, it becomes a little harder to just get around. Eventually, in our 70s, 80s or 90s, most of us lose our “functional independence,” the ability to live on our own. We move to assisted-living or nursing homes because, literally, our living needs to be assisted.

Few tasks in life can be as rewarding and challenging as being a primary caregiver for your loved ones. And caregiving comes in a variety of forms, from looking after ailing relatives to raising children as a stay-at-home parent. Whether you purposefully chose the role or life’s circumstances required you to fill it, you face myriad responsibilities that can distract you from managing your own financial life. To feel secure in your future and the future of those you care for, you need to make sure you safeguard your finances.

Whether you’re interested in buying a condo in your favorite vacation spot or are interested in rental income, it’s critical that you consider how the purchase fits into your lifestyle and financial picture. Owning a second home can seem glamorous and potentially offer you another source of income, but it can also be a time and money pit. Whatever your reasons for considering another property, here are some factors to consider before taking the plunge.

By Michael J. Searcy

Nope, we’re not talking about crashing markets or the end of the economic world here. We are talking about the name of a letter one of our clients has written to be given to his survivors. He has instructed them to only open it in the case of his death or incapacity. The purpose? To make things easier for his survivors and point them in the right direction of what needs to happen next. We talk about these things with clients on a regular basis but seldom do they actually implement this type of communication. Far too often it lands on the “good idea when I get around to it” list. This is understandable because who really wants to face their own mortality? We applaud this client for being proactive.

Are you or one of your children typing the knot soon? For any couple heading to the altar, financial matters can emerge as a major challenge. As much as you may love each other, there’s no guarantee you’ll be on the same page about money. In fact, it’s not unusual for a “spender” and a “saver” to join together in holy matrimony, only to find out they’re at odds over finances once the honeymoon is over.