Financial Planning

Give Your Retirement Savings a Boost

Give Your Retirement Savings a BoostEven with the best planning, unexpected events can push your retirement savings off track. Divorce, job layoffs, and business setbacks are just a few common obstacles that can cause us to fall behind on savings. The sooner you can give your retirement savings a boost, the easier it will be to get back on the right path.

Give Your Retirement Savings a Boost

Review your accounts for unnecessary spending. Look for automatic charges from online subscriptions, credit cards, and other services you no longer need or use. Often, people aren’t even aware they’re still being charged for such services, and all those fees can add up.

Review insurance policies for possible savings. When our lives change, so do our insurance needs. There may also be new opportunities to bundle your policies (home, auto, life, et al.), which lets you maintain existing coverage for a lower combined premium. Click here to read about how to compare auto insurance.

Reconsider your other methods of saving. Qualified retirement plans generally allow you to save more money than nonretirement accounts because of their associated tax savings. If you have more than six months’ worth of expenses saved in your emergency account, consider moving the excess funds into a retirement account.

By |2022-12-19T11:44:40-07:00January 10th, 2023|Financial Planning, Investing, Retirement|

Gen Z Embracing the Power of Knowledge

Jacob Cavaleri - Gen Z Embracing the Power of KnowledgeA whole lot of us, myself included, fit into the category of Generation Z. Whether you’re 25 years old or halfway through fifth grade at age 10, you can claim the Gen Z title. We’re the first generation to grow up with social media and smartphones as part of our everyday life. While some people see that as a negative, one can’t help but admit it is a free stream of unlimited education. How is Gen Z embracing the power of knowledge?

This generation, more than others, is experiencing new things and new parts of life. For the older portion of Gen Z, that includes learning about money management and finances. While it may seem intimidating, understanding one’s full financial picture is actually empowering.

Personal finance involves much more than investing in stocks and bonds. It includes any debt you have, any assets, your job, your personal goals, and many other pieces. Did you just get into college or pick your major? That’s great. Now’s the time to begin thinking about a career path, income potential, and how your future could look. Did you just start your first job? Congratulations. What benefits does your employer offer?

Something I consistently see happening in Gen Z young adults is living beyond their means. Having fun and doing things you enjoy are crucial to being happy. At the same time, it’s important to consider the things that are not as fun yet are just as important to maintaining happiness in the long-term. For example, an emergency fund may not seem fun or exciting, but it’s an important thing to construct when getting started in life. A good target is setting aside three-to-six months of your expenses, so you don’t have to worry about money if (and, more likely, when) something unplanned happens.

On the positive side, a common trait among Gen Z is inquisitiveness and continuous learning. Friends often ask me about different things they can do with their money and for money management tips in general. That curiosity and eagerness to discover is admirable.

In many ways, our generation is just getting started. The journey is long, and we all have a lot to learn. Let’s enjoy the ride.

Click here to read about our financial planning process and philosophy.

By |2022-12-19T11:13:10-07:00December 27th, 2022|Current Affairs, Financial Planning, Investing|

Navy SEAL Tips to Thrive Under Pressure

Navy SEAL Tips to Thrive Under PressureThe Navy SEALs undergo some of the most stressful training in the world — both physically and mentally. They can teach us a few things about thriving in challenging situations and accomplishing goals. Keep reading for Navy SEAL tips to thrive under pressure.

Lesson One: Embrace the challenge. Life throws us curveballs. Sometimes, more than one at a time. We can’t control or avoid them, but we can switch our attitude to one of acceptance and mental readiness for the challenges.

Lesson Two: Move the goalposts closer. Feeling overwhelmed is a signal you’re trying to do too much at once. Breaking decisions and challenges into small, manageable victories can give you a feeling of accomplishment and shift your brain out of analysis paralysis.

Lesson Three: Take action. When you feel powerless or negative, taking action can help you shift into a positive mindset and begin exerting control over your situation.

How do these lessons apply to our financial lives?

We can’t control markets, but we can create and implement a financial plan. We can’t predict the economy, but we can double- and triple-check our contingency plans. Financial planning is as much about psychology and human behavior as it is money and investments. Mindset and behavior may have a greater long-term impact on financial success than economic ups and downs.

Learn more about how to create a financial plan and read about our financial planning philosophy.

Photo courtesy of
By |2022-11-24T17:59:33-07:00December 12th, 2022|Current Affairs, Financial Planning|

Vacation Goals and Financial Planning

Mike McCannWhat story do you want to tell about your next vacation? What could make your next trip amazing? How do vacation goals and financial planning intersect? The answers could lie in this year’s travel trends. In 2022, people planned getaways that weren’t so much focused on where they went, but rather on what they experienced.

2022 Travel Trends

  • Friendcations: After missed milestones and months (or years) of Zooming since 2020, friends are reuniting for the first time in a while and they’re traveling in bigger groups to do it. That’s one reason why bookings for party spots that are great for big groups – like Vegas, the Caribbean, and Ibiza – exploded in 2022, according to a CNBC report.
  • Pet Travel: Forbes recently reported more people are taking their pets with them on leisure and business travel. And more hotels and airlines are becoming pet-friendly, finding ways not only to accommodate pets but to also treat them as guests. One unique aspect to this trend is how some folks are integrating into other trends – like taking workcations or bringing pets on extreme adventures.
  • Extreme Adventures: Many folks, after feeling cooped up and bored, were ready to adopt a thrilling new adventure or physical challenge as their dream vacations. Safaris, deep sea dives, and extreme hiking were among the favorites, according to Conde Nast Traveler. Some even signed up for sophisticated “space camps” for a truly out-of-this-world vacation experience.

vacation goals and financial planningTravel trends come and go, but the benefits of getting away can last a lifetime.

It’s a chance to unplug, destress, recharge, and create memories. Vacations have even been shown to provide physical health benefits, too, like lower blood pressure and lower risks of heart disease, according to . Simply put, vacations are good for us. They are an important piece of the financial planning process and of creating a truly rich life.

Are you ready to get away? Your advisor can help you achieve your vacation goals. That’s the value of #lifewithPerspective.

By |2022-11-20T14:37:39-07:00November 8th, 2022|Financial Planning|