Five Ways to Kick-Start Your Finances This Year

Get your budget on track. This is the most important element needed for your financial success. It is very basic, but you’d be surprised by how many colleagues in my industry are drowning in credit card debt and unable to stick to a budget. I recommend the free app mint.com, which syncs with your accounts to show how your spending aligns with your proposed budgets. Rebalance your portfolio. Rebalancing your portfolio will help you get your asset allocation back to…

A Good Retirement Game Plan

Many retirees are not adequately prepared to handle retirement. They go straight from 40-hour work weeks to not knowing what to do. After a month or two of working on delayed house projects, they settle into a Netflix-induced coma. The lack of physical and mental stimulation can cause cognitive and physical impairment, which leads to further mental and health declines. In order to avoid these common pitfalls in retirement, you will need a game plan. This will be one of…

Financial Planning During Coronavirus

Markets during Coronavirus

These are very interesting times we are living in, to say the least. The Coronavirus pandemic has upended daily life and economic activity all around the world. It is hard to believe that the Dow Jones Industrial Average was at an all-time high of 29,551 points on Feb. 12, 2020, and now it has sunk to trading below 20,000 points. This is a very fluid situation with COVID-19 beginning to make its impact on the US, as it already has…

How to Establish an Emergency Fund

how to establish and maintain an emergency fund

Once you’ve built a budget and started getting some extra monthly cashflow, you’ll want to establish an emergency fund. An emergency fund is exactly what it sounds like—it’s there for emergencies only. As such it should be put away in a savings account, CD, or money market account and forgotten about. The purpose of an emergency fund is to help you in times of unpredictable circumstances such as a job or car loss. If a home repair or car accident…

The 6 Best Credit Cards for Traveling Med Students

med school residency credit card

If you’re a medical student preparing for clinical rotations or residency then you’ll be traveling a lot. Finding the right credit card for your travels can make a difference in hundreds, if not thousands of dollars. Here are the top 6 credit cards I recommend for your travel expenses. For best travel point rewards: Chase Sapphire Preferred® Credit Card https://creditcards.chase.com/rewards-credit-cards/sapphire This card allows you to redeem points for travel expenses such as flights, hotel stays, and rental cars. This is…

It’s Tax Time–Let us help you with your return.

Did you know that in addition to being a financial planning firm we also offer tax preparation services? Our clients have benefited tremendously from this because we already know their tax situation and performing their return allows us to plan for taxes even more effectively. Maynard has been doing tax returns since 1994. Daniel just got his licensed tax preparer’s number and is excited about providing this valuable service to our clients. In addition, we made a valuable connection this…