Continuing the theme of getting your house in order by focusing on one task at a time, your family’s financial planning and overall planning can be established by February. Last week we highlighted trusts and wills. This week let’s consider living wills or advanced directives. A living will is a […]

What is a financial portfolio? In simple terms, the word portfolio is used to describe a collection of things. It can be art, stocks, bonds, real estate properties, or precious metals. Our job is to build an investment portfolio that meets our needs, fits our situations and consists of assets […]

This week’s MKFP is inspired by the Black Hedge Fund Group. Nearly half of all Americans say they cannot afford an unexpected $400 expense and nearly half of all Americans say $400 is too much if they had to come up with that amount in an unexpected emergency. 47% of […]

It’s tax time again. Here’s a reminder on a way to hold onto your lump sum and put it to work for you. Consider rolling your tax refund or a portion of into a CD (certificate of deposit). You can then use your CD as collateral to borrow money short […]

Most middle-aged adults and soon-to-be retirees have the same question: How much do I need to retire? We should consider this question at all ages and stages. There are no easy answers, nor is there a one-size-fits-all approach. Since how much you need for retirement is based on your specific […]

Most of us are financially fragile and would not be able to come up with $2,000 in 30 days without having to resort to borrowing money or pawning/selling items that we own. Ask yourself how easy would it be for you to come up with $2,000 to pay for a […]

Consider your relationship with money and how you’ve used it. The point of this introspection is to try and understand your relationship with money and how you use it in your life – understand the areas where you’re weak, the areas where you’re strong, and how you can improve the […]

Delaying even a small task or issue can most times result in a big expensive problem or project. Kicking the can or putting off until later can sometimes result in very expensive lessons. Procrastination costs — big time. We’ve all done it: Put off something until tomorrow that could have […]

There is an integrity and character demonstrated in how you deal with your debts. Some people freely incur debts with no thought on how they’ll be paid. Your money habits (aka credit worthiness) are an indicator of how you deal with debt. Strive to do what’s right in everything you […]

The most important financial principle is to spend less than you earn. No matter what else you do, you must do this if you want to achieve financial freedom. One of the easiest ways to achieve this is to automate your savings. The less work you have to do to […]