Lee McGowan |
The money lessons that kids learn from their parents can help instill habits that will improve their Return on Life. ​​​​​​​You can teach these three simple financial lessons to your kids with activities that illustrate the basics of financial planning.
Current events matter, and this year, the 2024 Presidential Elections are taking center stage. It’s raising a lot of questions about investing in election years, how to respond to market uncertainty, and what money moves truly make sense. Here’s a handful of key factors to keep in mind when you’re investing in an election year.
As we wrap up another eventful year, it's a tradition to pause and reflect on the past twelve months. It's a time to celebrate successes, learn from setbacks, and set intentions for the year ahead. Let's consider the lessons 2023 has brought us, both personally and economically.
Lee McGowan |
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Ah, we restless humans. Sometimes, it pays to strive for greener grass. But as an investor, second-guessing a stable strategy can leave you in the weeds. Trading in reaction to excitement or fear tricks you into buying high (chasing popular trends) and selling low (fleeing misfortunes), while potentially incurring unnecessary taxes and transaction costs.
Lee McGowan |
I enjoyed talking about Financial Planning for Parents at the Goodnow Library. Thank you to the Goodnow Library Foundation for hosting the Be Bold Speaker Series. Please find a link to the slides from the November 14 presentation at the Goodnow Library in the blog post.
Lee McGowan and Byron E. Woodman, Jr. |
In a bit of a paradox, we have two books with contradictory titles about crowds on our recommended reading list. So, what is it? Are crowds wise or delusional? It helps to understand why the answer is yes, to both, and why both have shaped our investment recommendations through the years.
Most children learn the ins and outs of responsible wealth-building from their parents. As kids grow, simple conversations about saving and spending often branch out into investing, compounding, and comprehensive Life-Centered Planning. But no matter how many good financial habits your children have learned by adulthood, they could still be unprepared for their role in your legacy plan.
According to a recent report by T. Rowe Price, the COVID-19 pandemic created 2.4 million "excess" retirements in 2020. Some folks retired due to family health issues. Others retired from high-stress positions in health care or education. And many were forced into retirement due to cutbacks by their employers. If you think unretirement could improve your Return on Life, work through these three questions and share your answers with loved ones and your financial advisor.