You daydream about quitting your job if you won the lottery. The truth is, for most people, accumulating wealth takes time. Getting rich slowly isn’t what most people talk about, but it’s the real path to wealth. It’s not sexy or exciting — it’s pretty much like watching paint dry. Very few people develop an app they sell for millions of dollars, or make a fortune flipping houses. Most … [Read more...] about Wealth Doesn’t Happen Overnight — Here’s How to Get Rich Slowly
I frequently recommend Roth IRAs to my clients as part of their retirement savings strategy. Because you contribute after-tax income, millennials who are still establishing their careers (and therefore are in a lower tax bracket) can lock in a lower tax rate on contributions now, and then pay no taxes when withdrawing money in retirement — even if you’re in a higher tax bracket. You can always … [Read more...] about What Happens to My Roth IRA When My Income Increases?
I regularly assign my clients money-related homework assignments, and I’ll be the first to tell you that it’s hard to deal with your money. I struggle, too! (That’s why I hire a financial planner myself.) I also try to help my clients knock out a few tasks during their meetings so they feel accomplished after our calls. Even when you know it’ll only take a few minutes, or that it’s a smart … [Read more...] about Ways People Put Off Actually Dealing With Their Money
Holiday donation drives are in full force, and you may be considering how to allocate any spare amount of money you can give toward causes you care about. I often discuss charitable giving with clients, because believe it or not, it’s an important part of an overall financial plan. If you want to read more about one of my favorite charities, you can check out this article from Financial Planning … [Read more...] about How to Make a Plan for Your Charitable Giving
This is the first post in a series on employer stock programs. A number of our clients work for startups that offer incentive stock options (ISOs) as part of their benefits packages. If you’re working at a startup (and not a publicly traded company) and have been given a company stock package, they are most likely ISOs. But how do ISOs work? What does it mean to exercise stock? Will you … [Read more...] about The Gen Y Planning Guide to Company Stock: What are ISOs?
Nothing inspires my writing more than what my clients and readers (like you!) ask me about. Since I started my blog, your questions, like your lives, have become more complicated. I want to highlight the most popular blog posts of the past year, because they cover some meaty topics that I know many of you are wondering about right now. Just in case you missed them the first time, here they are … [Read more...] about The Top 5 Gen Y Planning Blog Posts of the Year