You can do three things with the money you make: spend it, save or invest it, or give it away. People who are wise with money tend to do all three and stick to a ratio that makes sense for their situation. The percentages you commit to each category can vary...
What a difference it makes being prepared! Laying your clothes out the night before, planning your meals and making a list for the grocery, studying for an exam 1-2 weeks in advance, studying game film for your upcoming opponent; these are all simple examples of the...
Two consecutive quarters of negative GDP (Gross Domestic Product) – this has been a reliable rule of thumb to accurately determine if a recession has occurred. The National Bureau of Economic Research (NBER) uses more complex formulas to officially declare a...
During the summer Olympics, millions of people watch the best divers in the world perform amazing acrobatic feats while falling with great speed toward a pool of water. One of the criteria for achieving a good score is based on how the diver enters the water – the...
Four thousand one hundred sixty weeks. This is how many weeks you would have if you lived 80 years. I do not know how that makes you feel, but it forces me to have a new perspective on the fleeting amount of time we have on this earth. Carpe Diem! It is easy to get...
Imagine a table filled with desserts – cookies, Danishes, doughnuts, pies, and brownies. Now imagine this table being in the kitchen at work versus the kitchen at home. Are you more likely to indulge in the Danish if it is at work or at home? This is an example of how...
“We’ve never gotten around to it,” “We need to do that,” “That is something we have discussed, but it always gets put off.” These are common responses I hear from families when I ask if they have their estate documents created or updated. It is a common observation...
Buffer Your Budget If you were the Chief Financial Officer of a business, would you manage the company budget the same way you manage your household budget? I believe some of you would, but odds are most of you would not. I am not shaming any of you for how you handle...
The Certified Financial Planner certification (CFP®) is a formal recognition of expertise in the areas of financial planning, taxes, insurance, estate planning, and retirement. The Financial Enhancement Group is honored to announce that Daren Hardesty, Senior Advisor,...
For eight years, my wife and I raised our family in a house we bought together right before we were married in 2014. We quickly grew into a family of five plus one dog. We loved our home, but we were filling up the small amount of square footage, so we decided it was...
A loving mother is a blessing beyond words. I am a father of three young children, and I have the privilege of watching my wife love them more every day. As their dad, I am their loving protector, but their mom fills a place in their hearts that I cannot. You may be...
My wife and I are safe drivers. I can confidently say this because we have not been pulled over for speeding since high school; we have only had one minor accident that involved backing into a car in our driveway (I won’t say which one of us did that), and we are...
If you could reduce your tax liability every year, wouldn’t the accumulation of those taxes add up to the smallest amount owed over your lifetime? In the short term, this is accurate, but it is the long-term ramifications that matter most. Wise investors need to...
Did you know two tax codes exist? Most people will tell you one is for the rich and one is for the poor. That is not true. The real answer is there is one for the informed and one for the uninformed. At the Financial Enhancement Group, we take pride in our ability to...
One of the most significant hurdles to overcome if retiring before age 65 is health insurance costs. It is expensive and can break your retirement budget before qualifying for Medicare. What if I told you the cost of health insurance might have been drastically...
Some individuals go out of their way to be scared for Halloween. Managing money professionally, I regularly find enough monsters in the closet, regularly that so seeking out fresh fears seems unnecessary. One of the destructive challenges for investing when the...
When I was a boy, I mowed lawns around my neighborhood. I started with my parents’ lawnmower, and after I saved up enough money, I went out and purchased my very own mower. I took great care of that mower because I could not perform the job that paid me without it....
A frequent question often pertains to beneficiaries. “What is the best way to leave my remaining assets to my family?” A simple question with assumed simple solutions. The truth is far from simple. A multitude of variables may be relevant to you and your situation....
Tax season ended this year on Monday, May 17, marking the second year in a row where the deadline was extended. Our office, as well as our CPA affiliates, found themselves working until the last possible moment. An unwritten rule says the longer you give yourself to...
The most common way for people to save for retirement is through their 401(k) or 403(b) plan. Most of you reading this know the drill – you meet with the plan advisor one or two times a year. The advisor tells you how your mutual funds have performed and uses software...