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Expert advice for all walks of life

As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

Expert advice for all walks of life

As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

Expert advice for all walks of life

As a Fee-Only advisor my fiduciary duty is to you alone.
Professional, practical, achievable solutions for your peace of mind

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The Sweet Spot for Roth Conversions

Submitted by Concierge Financial Planning, LLC on February 17th, 2020

 

 

“Should I be converting to a Roth IRA?” asked John recently during our Getting Acquainted Meeting. His is the second most frequently asked question I’ve had over the past six months from both existing and potential clients, so I wasn’t surprised. The media has been focusing on the Roth conversion over the past year and everyone is wondering how they can take advantage of the opportunity.

Tags:
  • Financial Planning Fundamentals
  • Investing
  • IRA/401K/403B
  • Retirement
  • Saving
  • Tax
  • Read more

My sixteen-year-old has $82,000 in retirement savings

Submitted by Concierge Financial Planning, LLC on July 8th, 2019

daughterrs

My sixteen-year-old daughter is off to a great start in her retirement savings and she has only been working for two summers. No, she isn’t a child TV star or fashion model—Judy is a lifeguard and swim instructor at a day camp. Due to her earned income, she is eligible to contribute to a Roth IRA which she did to the tune of $1,000 last summer and $2,000 this year. Her contributions are invested 100% in a diversified equity mutual fund. Assuming no other contributions to her Roth IRA and a 7% annual average rate of return on her investments, she will have approximately $82,0000 when she retires at age 65.

 

Tags:
  • Financial Planning Fundamentals
  • Investing
  • IRA/401K/403B
  • Retirement
  • Saving
  • Read more

Living Small to Live Large: The Case for Tiny Homes

Submitted by Concierge Financial Planning, LLC on July 31st, 2018

livingsmall.jpg

“Mom, I’m setting up my tent outside,” announced my world-traveling millennial son shortly after arriving home for a short visit.  “Peter,” I said, perplexed, “I’ve kept your room in perfect condition—your TV, wifi, and air-conditioning are waiting for you!” “No thanks,” he replied, “The house is living too large for me, Mom, I’ve moved on to living small and I don’t want to go back.”

 

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  • Lifestyle
  • Saving
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Olympics and Investing: The 1% Difference

Submitted by Concierge Financial Planning, LLC on February 19th, 2018

 

Tags:
  • Current Events
  • Financial Planning Fundamentals
  • Investing
  • Saving
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Sisterly Love: Using Adult Siblings to Fund College Savings

Submitted by Concierge Financial Planning, LLC on January 7th, 2018

blog_sisterlyLove.jpg“You’re doing what?” inquired Tim incredulously. Tim and I were discussing college savings for his 10th grade daughter, and he knew that I too was saving for college for my high school daughter and college son. “You heard me right the first time,” I said, “my 25-year-old is funding his siblings’ 529s.”

Unfortunately, Tim doesn’t have the same secret weapon that I have and so can’t take advantage of my strategy.

Tags:
  • College Planning
  • Investing
  • Saving
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Start Small to Retire Big

Submitted by Concierge Financial Planning, LLC on December 9th, 2017

work retire_12112017.jpeg“I’ll never retire,” Jack said with exasperation.

Tags:
  • Financial Planning Fundamentals
  • Retirement
  • Saving
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The Economics of Exercise: Earn Thousands for Retirement the Easy Way

Submitted by Concierge Financial Planning, LLC on February 23rd, 2017

 

What if I told you that there is a way to save for retirement without actually having to pinch pennies? You don’t have to deny yourself that shopping spree or that awesome trip. What’s more, you could potentially “save” hundreds of thousands of dollars. Does it sound too good to be true? Well, it’s not. All you have to do is exercise—hard!

Tags:
  • Financial Planning Fundamentals
  • Lifestyle
  • Retirement
  • Saving
  • Social Security and Medicare
  • Read more

Are You Part of the 10%?

Submitted by Concierge Financial Planning, LLC on July 7th, 2016

As my daughter and I rode our bikes down the path to Giverny, France I felt like I was in the scene from the Sound of Music where Maria and the kids are biking. Last week I stole away with my youngest for a quick trip to Paris. On our last day we set out to see the home and gardens of Claude Monet. The sun was shining and we had just enjoyed the most divine picnic lunch. It was market day in town, and before we set off on our ride we stopped to pick up fresh bread, cheese, fruit, and a bottle of Sancerre. I kid you not, it was the best meal of my life. I can still taste that crisp white wine on my tongue.

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  • Budgeting
  • Retirement
  • Saving
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Millennials Retire at 75?

Submitted by Concierge Financial Planning, LLC on January 28th, 2016

 

Chances are you’ve wondered about the prospects of younger Americans. Will they enjoy the same economic conditions that their parents lived through? Will retirement still be an option for them?

The NerdWallet organization recently issued a report which found a few differences between today’s college graduates and those of 20 to 40 years ago. For one thing, they carry a lot more student loan debt: $35,051 on average. That means, again on average, that the new graduates will be paying $4,239 a year for ten years before they can properly start saving. NerdWallet estimates that these higher loan payments could potentially reduce future retirement savings by 32%—an average of $700,000.

Tags:
  • Debt
  • Retirement
  • Saving
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Beware of the Darling of Variable Annuities

Submitted by Concierge Financial Planning, LLC on July 17th, 2015

 

“It’s a great investment!” replied Ed when I asked him why he had purchased his variable annuity. “I get 5% guaranteed—and if the markets do better I get all the upside too!” The promise sounds too good to be true. And, in this case, it is too good to be true. I’ve seen this annuity many times over the past few years. The sales pitch is very convincing—who wouldn’t want no downside risk and full upside benefits. Has anyone tried to sell you this annuity?

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Categories

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