Insights & News

Sign Up for FAI Insights & News

and get it delivered to your inbox!

 

 

Lyn Dippel
Financial Wisdom Starts Early

Whether we realize it or not, our financial habits, fears and perceptions about money are internalized by our children. If we teach our children about the value of being frugal, but we regularly purchase the latest model car or iPhone, those philosophical lectures will have little impact. If we teach our child to judge people by what’s inside and not what brand of clothing they wear, but that later remark in a condescending way about someone’s bargain-brand shoes, we’re asserting that brands do indeed matter.

Eight Tips to Make Retirement for Baby Boomers a Stress-Free Milestone
Eight Tips to Make Retirement for Baby Boomers a Stress-Free Milestone

If you’re one of the 75 million baby boomers in the U.S., you’re likely wondering if you’re financially prepared for retirement. Many people feel overwhelmed and unsure when it comes to financial matters, particularly if you’re over 50 and retirement is looming Whether you plan to retire soon or down the road, it’s never too late or too early to start planning for your future. Here are 8 retirement planning tips to ensure that it’s the happy, carefree milestone you’ve always envisioned:

Reclaim Your Finances in the Era of the "Gray Divorce"
Reclaim Your Finances in the Era of the "Gray Divorce"

The divorce rate of people in their 20s and 30s is falling but baby boomers are divorcing at a surprising rate. In fact, the number of divorces among people age 50 and older has doubled in the last 20 years and those statistics continue to increase.  While experts agree it’s largely the by-product of longer life spans, “gray divorce” is sure to affect retirement lifestyles for many people.

Making Music
Making Music

“You are hearing the words and not the music.” - John Cleese.

At a recent lecture, Monty Python’s Flying Circus co-founder, John Cleese shared an epiphany (not his word).  During marriage counseling (John was married 4 times), he set about arguing the logic of an issue with the counselor.

Finance at 50: Last Minute Planning for the Not-Too-Distant Future
Finance at 50: Last Minute Planning for the Not-Too-Distant Future

While 50th anniversaries are often cause for hearty celebration, not everyone feels as celebratory about their 50th birthday. Many of us have not had an opportunity to save as much as we would have liked or had the time to do our own financial planning.

Turning 50 can be a wake-up call that there isn't much time left to get serious before it is too late.

A 2017 Resolution - Speak(easy)
A 2017 Resolution - Speak(easy)

“We had this quite agonizing conversation where he said—and this totally shocked me—‘Well, if I’m able to eat chocolate ice cream and watch football on TV, then I’m willing to stay alive. I’m willing to go through a lot of pain if I have a shot at that.’”

Republican's Surprising Sweep
Republican's Surprising Sweep

After many months of contentious and extremely negative campaigning from both parties, the Republicans emerged as victors last night in several very close races.  This was a surprise to most, as polls and pundits alike had already given the White House keys to Mrs. Clinton.  Many have asked what FAI is doing in the portfolios given this surprising event.  

Lyn Dippel
How to Manage Living Self-Employment Income

Many of us have unpredictable or inconsistent incomes. Unfortunately, the bills come whether we have been paid yet or not. If we have not planned carefully, when a big expense occurs we may get caught short. And two other pitfalls may trip us up if we are self-employed. First, there is typically no tax or FICA withholding on self-employment income, so often a portion of the money we have in hand is not technically ours. If we aren’t careful we can get caught shorthanded come tax time and end up owing penalties on top of the tax bill. 

Cal Ripken on Financial Planning for Young Adults
Cal Ripken on Financial Planning for Young Adults

My next stop was Miami and I was paid $500 per month - $406 after taxes… - Cal Ripken

Charm City (Baltimore) was the host of the Financial Planning Association (FPA) Annual Conference from September 14 through 16.  Cal Ripken was the keynote speaker for opening day (who says financial planners do not have a sense of humor…).  

Everyday Super Heroines: Women Who Achieve Financial Freedom Deserve Our Esteem
Everyday Super Heroines: Women Who Achieve Financial Freedom Deserve Our Esteem

With elections coming up, many of us are looking for candidates who will best promote our values. You can also vote with your pocketbook. We often look to public figures such as Sheryl Sandberg, Brene Brown, Michele Obama and JK Rowling as inspiration, but everyday women who have overcome challenges and conquered fears to establish a better life can be just as inspiring.