New Year’s Resolutions

Practical Prosperity

Resolutions are supposed to be your intention for the new year, not a to-do list for the first week of January that is never fully completed.  I have yet to see someone accomplish a resolution within a week.  We usually get “busy” and  stop caring about what we set out to accomplish within the first… Read More

There’s No Place Like Home For The Holidays…

The traveling that comes with the holidays is often hectic.  Planes, Trains, and Automobiles does a great job of describing how everyone feels traveling near the holidays.  Steve Martin is frustrated at every turn.  He is the perfect embodiment of the social side of travel.   There are some financial lessons to be learned from the… Read More

Financial Decisions: One Size Doesn’t Fit All

Practical Prosperity

I read a book the other day that asked the question: “What is the best financial decision you have ever made?” I began to think about how this needs to be asked more by financial planners.  Clients don’t readily think of it, but if you ask it as homework, the clients will begin to analyze… Read More

How to Survive the Upcoming Wedding Season

Practical Prosperity

Weddings, in general, are expensive.  Sorry parents and young couples of the world hosting an extravagant party this summer, but there is little you can do now to save money.  Instead, I am talking to those who were invited to your wedding and have yet to get wedding gifts.  These people still have a shot!… Read More

IRA Contributions

So instead of wasting your time trying to convince you how great they are, I would rather discuss the mechanics of how you take advantage of them. Devise a savings strategy and start the automatic saving. IRAs come in two flavors: Traditional and Roth.  Traditional IRAs are tax-deferred, i.e., money grows year-after-year without Uncle Sam… Read More

An Easy to Follow Financial To-Do List for 2016

Practical Prosperity

January: Increase retirement account contributions:  A new year sometimes means increasing retirement account contribution limits.  For 2016, the 401(k) limit is $18,000.  If you are already maxing out your employer sponsored plan, considering reviewing IRAs, taxable accounts, or some tax deferred annuities. February: Begin tax document collection:  Most of your tax forms will come to… Read More