Smart about money

On April 18, 2019, Traci Richmond, CFP®, CDFA™ was named to the 2019 list of the Financial Times 400 Top Financial Advisors. Produced annually, the FT400 is based on data gathered from advisors, broker-dealer home offices, regulatory disclosures and Financial Times research.  The honor reflects each recipient’s......

It’s an adventure – as Traci recently discovered when her 13-year-old son went on an Amazon shopping spree: Tommy wanted to upgrade his Xbox gaming console, and give his old one to his little brother as a birthday present. To help Tommy finance this purchase,......

Habit #4: SAVE about 16% So you’ve adopted the first 3 wealth-building habits: You Pay Attention. You Avoid Bad Debt. You Live Beneath Your Means. Now it’s time to get serious about saving. Sweet 16 You should Save about 16% of every dollar you earn. It’s......

Habit #3: Live Beneath Your Means Bigger. Better. Hottest. Latest. Keeping up with the Joneses costs a fortune. You’ll need more money coming in than going out. Otherwise, you’re not building wealth. You’re building a mountain of debt. Less is More Spend less, save more.......

Habit #2: Avoid Bad Debt Imagine buying a house without asking the price. That’s essentially what you’re doing if you take out a loan or rack up credit card bills without fully understanding what you’ll actually pay to pay off that debt. Don’t Borrow Trouble......

Habit #1: Pay Attention You’re driving down the highway when smoke starts billowing from under the hood. Do you keep going, hoping the engine fire will magically put itself out? Of course not. You pull over and face the reality of your situation. Same with......

According to the College Board,15 years from now (that’s 2033!), a private four-year college degree will cost $323,900. Gulp. Some families have been saving in 529 accounts that can be used for qualified educational expenses like higher education tuition, room and board, books, and computers.......

Congratulations! You’ve finished your estate planning. You have a will or trust, you’ve designated a financial power of attorney, and you’ve picked your health care power of attorney. At this point many people think they are finished. That’s a mistake. Watch this video to find......

Everyone who has anyone who depends on them financially or in any other way needs to make estate planning a priority. It’s just 3 documents but it’s hard actually to get the paperwork in order. What’s the hold up? Frankly, it’s hard for people to......