Articles tagged with: Life Planning

Weighing the Benefits of Stocks or Bonds to Save for Retirement

How to Determine What Investment Strategy is Right for You

24 January 2022

Weighing the Benefits of Stocks or Bonds to Save for Retirement

If you are planning for your future then, hopefully, you have put some thought into saving for retirement. When planning for retirement, there are many important factors to consider, such as how much investment risk is appropriate for your financial goals – and your comfort level. If what I have mentioned so far resonates with you, then the next question is, should you invest in stocks or bonds for your retirement savings?

There is a lot to unpack here because every investment has risks. When the stock market goes up, the usual pattern is that the bond market goes down (usually due to the Federal Reserve Bank increasing interest rates), but market cycles can be very strange indeed. In 2018, both the stock and bond markets lost money. In 2019, both the stock and bond markets had great returns. In 2020, the stock market had a sharp decline in the Spring and recovered, while the bond market had a steady, positive return as we dealt with the COVID-19 pandemic. This is precisely why everyone needs a solid education in investment planning, whether working alone or with an advisor, to determine risk tolerance and, on that basis, the right asset allocation to maximize after-tax risk-adjusted returns.

Outsourcing in the New Year So You Can Do What Matters

Delegating Certain Responsibilities and Tasks Can Allow You the Freedom to Do What You Love

10 January 2022

Outsourcing in the New Year So You Can Do What Matters

We all know the classic saying, “time is money,” right? We also know that time and money are the two things we often wish we had more of. The key to time management and overall life quality will always be finding that balance between what you have to do, what you want to do, and figuring out how to afford it all.

I know that I usually share about financial planning topics here. However, today, I wanted to share about something that’s equally important and still related: The idea of outsourcing specific tasks and responsibilities in your life to free up time to do the more valuable – and profitable – things.

The Organization for Economic Cooperation and Development (OECD) ranked the United States 29th out of 34 countries in work-life balance. Outsourcing some of your daily tasks may be a more efficient use of resources than taking the valuable time to do it all yourself. Sure, we could all learn to change our oil or fix a leaky faucet, but by paying a professional to handle these tasks, we free ourselves up to focus on other things, like our work, which, in the long run, will make us more money rather than losing it.

For example, if you make $100 an hour at your job, and it takes you 3 hours to do a deep clean of your house, it essentially costs you $300 to clean your house. If you can have a service clean it for $150 in 3 hours, you’re saving money and outsourcing the labor. This is called “Opportunity Cost” – the next highest valued alternative use of a resource.

Engaged! Now Comes the Planning Part

27 February 2017

Engaged! Now Comes the Planning Part

The day of my engagement (just last month) was the best day of my life.  After a day of anxiety awaiting the proper moment, the time finally arrived. I got down on one knee and she said “Yes.”  The 48 hours following my proposal and her acceptance were a whirlwind of awesomeness – countless phone calls, texts, Facebook messages, Snapchats, Instagram posts, Twitter mentions, and even a couple handwritten “Congratulations” cards in the mail (by far the most memorable, by the way).  By the time a week had passed, I was finally getting used to seeing the ring on her left hand, and we decided it was time to really start planning our wedding.

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