I often ask my clients two questions to help them obtain a low-cost stock investment strategy: What level of return are you seeking and how much should you pay to buy that asset? Of course, these two questions come after you have decided on your investment horizon (https://www.financialadvisorforyou.com/how-should-i-invest-my-money/) and risk tolerance (https://www.financialadvisorforyou.com/2-reference-points-can-help-you-assess-your-risk-tolerance/). The short answer […]
You are on the verge of age 65 and you are not sure what to do with Medicare? Ask yourself these four questions and you will be better off. Just a quick reminder — Medicare is the federal health insurance program for people who are 65 or older, certain younger people with disabilities, and people […]
It is time to examine your risk tolerance or risk aversion once you’ve decided upon your investment horizon – short, medium, or long-term. Where do you start? As a rule of thumb, the longer your investment horizon, the greater volatility (ups and downs) you can weather in your portfolio. Conversely, if the horizon is short, […]
One of the first questions clients ask is how they should invest their money. I think they expect me to give them a secret recipe. There is so much noise in the media about how to invest that I can understand their frustration. The market is up, its down, hot stocks – it can be […]
I receive a lot of questions on the Public Service Loan Forgiveness Program (PSLFP) as a way to pay off federal student loans. Washington DC is concentrated with public service professionals who are potentially eligible for this program. Be mindful of the answers to the following three questions and you’ll be on your way to […]
Once you have your student loan inventory, it is time to develop a repayment plan that makes real headway to reduce your debt and the amount of interest paid. Of course, if you can only make the minimum payments, then that is what I urge you to do. But if you have the ability pay […]
Repaying your student loans smartly can save money over the long term and increase your credit score. Remember: your federal and private student loans generally cannot be canceled or discharged in bankruptcy because you didn’t get the education or job you expected, or because you didn’t complete your education. So it makes sense to come up […]
I get a lot of questions on the right size of an emergency fund and how to use it. The purpose of an emergency fund is to have money available in case unexpected expenses crop up so that you don’t have to use high-cost debt to pay them. Emergency Fund Size Traditional financial advice suggests […]
One of the first questions I’m asked when I prepare a financial plan is how much should I be spending? Understanding your cash flow – the cash coming in and going out each month — is the most important part of any financial plan. Some of my clients are really good at knowing this information, […]
This blog is dedicated to providing financial advice that you can use. Although generic financial planning information abounds, this blog addresses concerns of professionals early in their careers and those nearing or at retirement. After over five years of providing personal financial planning services to a variety of clients in different situations, I have developed […]
