Ask where to start, how to switch it up as life changes, and how to live the life you want.
What We Do
Money Coaching
Ensure you get things done!
Questions. Nothing is off limits.
Advice for every stage of life.
Keep you accountable with a living, breathing financial checklist.
Create a clear road map of where you are and where you want to go.
Training on good money habits that will make life easier and more fun.
Use real metrics to track and review your progress so you’re always moving forward.
Educate and empower you to make the best decisions for yourself today, tomorrow, and in the future.
Financial Coordination
Coordinate the important stuff – marriage, children, a new business, taxes – and call in anyone needed to get it done (CPA’s, attorneys, etc.)
Coordinate the tough stuff – a death, a divorce, a dementia diagnosis, a disability.
A single point of contact for all things financial.
Find solutions to financial problems as they come up, because they will.
Reminders on important events like tax payments and required distributions.
Reduce paperwork and save you time.
As requested, coordinate life events or issues with family members.
Goal Planning
Are you actively saving enough for a home purchase, car purchases and other large purchases?
Goal planning should make you dive deep into what you really want out of life; this is what we’ll tackle together.
Investment Planning
Saving for your future self in a low cost, tax efficient way.
Customized investment strategies and ongoing investment management to help grow your money.
Protect what you’ve saved; helping you reduce your risk, diversifying* and rebalancing your portfolio based on what makes sense at the time.
Retirement Planning
Helping you answer the biggest question of all: When… Will you be able to retire?
Regardless of your age, I’ll encourage you to seriously discuss what you want your retirement to look like (Talk to your parents, or people you trust. What do they wish they had done differently?).
When you do retire, how much do you want to live on? What do you want your life to look like?
Insurance Review
When and how much life insurance should you have? Should you have it at all?
Based on your health and family history, should you plan for long-term care or disability insurance?
Education Planning
What colleges are affordable?
Are you paying for yourself? Do you want your children to have a college education?
How much should you be saving for college or a trades program?
Spending Plan/Budgeting
Does your current income support your current spending? (be honest).
What are you spending your money on? Can you account for every dollar?
How many recurring subscriptions do you have? How many places do you automatically send your money each month? What’s necessary versus convenient?
Debt Management
Get your financial house in order. Debt repayment first, fun second.
Pay down mortgages, student loans, consumer loans, and credit cards. You’ll thank yourself.
Tax Planning
Review for potential (and costly) tax issues.
Roth IRA and Roth conversions: can generate tax-free ways to save for retirement.
Health Savings Accounts: tax-advantage savings accounts for medical expenses, whether you think you’ll have them or not.
Charitable giving: how to optimizing donations for tax-savings.
Re-evaluate poorly performing investments. Cut them out before they drag you down.
Employee Benefit Review
What coverage makes sense for you and/or your family in the coming year?
Will your family grow? Are you expecting a baby?
Have there been changes in your health or a loved one’s health?
Estate Planning
Worst case scenario: are you prepared for a sudden death?
Stop putting off making/updating your will. It is critical for those who will survive you.
Do you need to name new or update your beneficiaries? Have you adopted a child? Do you plan to adopt? Are you legally married or recently divorced? Update these yearly!
Social Security Planning
At what age will you start drawing it? How much will be available at that time?
What other sources of income will you have in retirement to supplement your life?
Two year ago, I did a post summarizing my year and it got a great response. During our financial planning meetings so many of you open up and tell me what it going on in your lives. We talk about your hopes and dreams for the future; I feel that it is only fair to share what is going on in mine as well.
Our daughter, Reese, was born at the end of September in 2017 so much of my 2018 was learning how to take care of her, adjusting her eating and sleeping habits as she went from being mostly stationary in a Rock n’ Play sleeper to walking and running all over the house now. Her growth has been amazing to watch, and it’s true what they say – the time flies! If you or someone you know are expecting be sure to read my post What to do When You’re Expecting.
In May of 2018, Rebecca and I we’re surprised to learn we will be expecting another little girl due later this month (due date is Christmas Day!).
Here is a short video Rebecca put together when we found out about baby number two:
Yes, the girls will be 15 months apart and yes, there will be two of them – pray for me! In all seriousness if baby #2 is half as easy as Reese has been, we will be the luckiest parents on earth.
With another baby coming soon after the first, it has caused us to have to make some changes. We decided to transition Rebecca to part time so we lost her employee benefits part way through the year. We now pay for health insurance out of pocket at a cost of about $1,350/month for a high deductible plan. Teachers, you don’t know how good you have it!
We are also in the middle of finishing the third floor of our home to make more room. We are adding two bedrooms and a full bathroom, which should give us more than enough room to stay in our house forever. I used to own a rental property near our current home in the Elmwood Village with my brother, but earlier this year we sold it and part of the profits from that are going to pay for the third floor construction, otherwise it would be unaffordable. A nice perk we learned about to make the third floor addition possible, was the New York Historic Tax Credit. We live in a zip code which is considered to be part of the city’s historic district so we are eligible for a 20% tax credit for any work we do to the house. If you live in a historic district, be sure to check out this program as it is saving us about $10,000 on our total spend.
As many of you know, Rebecca and I love to travel. We did not get to do as much as we would have liked in 2018, but we got to do some. In December of 2017 we took a trip down to Siesta Key and Venice, FL to visit family. It was great to get out of the cold and have them meet Reese for the first time. We were nervous about flying with a 2.5 month old, but we quickly realized that Reese being so little and sleeping most of the time at that age was the perfect time to fly with her (now that she’s a year and two months old, it’s a different story!).
We also got invited on a “kid-free” trip to Martha’s Vineyard for a long weekend. It was going to be our first time away from Reese, but neither of us had ever been so we decided to make the 10 hour drive. Rebecca had just learned that we were expecting again so it took a lot of convincing for her to leave Reese for this one. I have to say that both of us really enjoyed our time on the island and hope to make a return trip (thanks Greg and Lara!).
Rebecca and I celebrated our second anniversary in Lake George for a couple of days. This was my first time visiting the area and it reminded me a lot of Lake Tahoe. It was nice to reconnect, play some golf and be on the water for a few days. Big thanks to our in-laws for making that possible for us.
We have a couple goals for our travel in coming years. We had booked a place to stay in St. Simons, GA for all of March 2019 to get away from the cold, but with baby #2 coming sooner than we had planned, we decided to cancel that plan as we thought we should be closer to family for the extra help right after she’s born. Hopefully we can do a winter trip like this in 2020. I would also love to take a couple weeks and go on a long RV trip exploring the Pacific Northwest. We are thinking about seeing some National Parks, Vancouver, Banff, Seattle, and Portland. I have been trying to get Rebecca on board with RV life and I think she is close to agreeing!
As you can see, a lot went on for us in 2018 for me personally and I bet 2019 will have just as many new adventures. How many changes did you have in 2018? Did any of them have financial implications? Are you expecting any in 2019? It’s important to let us know about any life changes you had or are expecting to have so we can adjust your financial plan and make sure we are still doing the right thing for you.