Equis Financial Equis Financial

March 3, 2021

Tips to Combat Burnout

Jump to Article

Subscribe to get my Email Newsletter

Tips to Combat Burnout

March 3, 2021

Tips to Combat Burnout

Does work have you down? Do you feel so constantly overwhelmed by deadlines or conflict that you’ve started to emotionally withdraw?

Then you might be facing burnout. It’s a condition that results in uncertainty and stress in a work environment or position. All of that pressure can result in excessive cynicism, poor performance, and a lack of energy.

If any of those sound like you or a loved one, read on for some simple tips and strategies that can help combat burnout.

Seek support and help. If you’re feeling overwhelmed by workplace stress, let someone know! Talking to someone about your feelings is always a wise move. Your friends and colleagues may be more likely to respond with trust and support than you anticipate. Consider also meeting with a qualified mental health professional to better understand your burnout and learn healthy coping mechanisms.

Exercise. If you’re physically able, schedule a daily or weekly workout into your regular routine. Why? Because there’s no simpler way to combat burnout than regular exercise. It’s been proven to combat anxiety, alleviate depression, and increase positive emotions.¹

Don’t be too hard on yourself at first—it may be challenging to motivate yourself if you’re combatting intense burnout. But try an exercise routine for a few weeks and then see how you feel. You may be surprised by the difference it makes!

Make a change. What’s something that causes you consistent stress that you can handle differently? If you’re burned out, it’s a serious indication that something must change. Simply “trying harder” or “toughening up” may lead to more frustration and emotional withdrawal.

Be honest with yourself. Are there changes you need to make in your mindset or do you need to seek a new job? What can you do differently when faced with chaos or urgent deadlines? Don’t settle for making the same mistake over and over. Identify a cause of stress, and tackle it from a new angle!

As said earlier, don’t be afraid to seek professional help if you’re facing serious burnout symptoms. These tips may help you combat burnout. But if they aren’t enough, working with a mental health expert may be what you need to recover and find peace of mind.

  • Share:

¹ “Exercise for Mental Health,” Ashish Sharma, M.D., Vishal Madaan, M.D., and Frederick D. Petty, M.D., Ph.D., Primary Care Companion to the Journal of Clinical Psychiatry, 2006, 3https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1470658/#:~:text=Exercise%20improves%20mental%20health%20by,self%2Desteem%20and%20cognitive%20function.&text=Exercise%20has%20also%20been%20found,self%2Desteem%20and%20social%20withdrawal.

How to Find Your Net Worth

March 1, 2021

How to Find Your Net Worth

Usually when we think of net worth we imagine all the holdings of a wealthy tycoon who owns several multi-million dollar businesses.

Net worth is just a balance sheet of a person’s assets and liabilities, not unlike the balance sheets used in business. You also have a net worth, and it’s important to know what it is.

Calculating your net worth is simple. First, you’ll want to tally up all your assets. These would include:

  • Personal property and cars
  • Real estate equity
  • Investments
  • Vested retirement plans
  • Cash or savings
  • Any amounts owed to you
  • Cash value of life insurance policies

Next, you’ll calculate your liabilities (what you owe someone else). These would include:

  • Loans
  • Mortgage balance
  • Credit card balances
  • Unpaid obligations

Your total liabilities subtracted from your total assets equals your net worth.

The number could be positive, or it could be negative. Students, for example, often have a negative net worth because they may have student loans but haven’t had a chance to build any personal assets.

It’s important to realize that net worth isn’t always equal to liquid assets. Your net worth includes non-liquid assets, like the equity in your home.

Measuring your net worth regularly can be a strong motivation when saving for the future—it can mark progress toward a well-reasoned financial goal.

When you’re ready to put together a personalized strategy based on your net worth and (more importantly) your future goals, reach out! We can use your current net worth as a starting point, while keeping focused on the real target: your long-term financial picture.

  • Share:

2 Strategies to Build Credit When You’re Young

February 24, 2021

2 Strategies to Build Credit When You’re Young

The sooner you establish your credit score, the better positioned you’ll be for financial success.

Why? Because your credit score touches every aspect of your financial life—a high score can help you obtain a lower interest rate on mortgages and car loans, insurance payments, and even your rent!¹ That can help free up more cash for building wealth.

So, where do you start?

Apply for a credit card… and then use it responsibly! Credit cards are excellent tools for building your credit history. If you attend a university, you might be able to score a student credit card. However, just remember that credit cards are not free money. The less you use your credit card, the higher your credit score. Choose a few recurring expenses, and limit your credit card usage to those. Then make sure you pay off the balance every month, on time.

Use automatic payments on all your debts. Missing payments on your debt obligations can torpedo your credit score. It’s absolutely critical to pay on time for your credit card bill, student loan payments, and anything else you owe.

Consider automating all of your debt payments. It’s a simple, one-time move that can steadily reduce your balances and help boost your credit score.

As you build your credit history, you’ll be able to apply for credit in larger amounts, and you may even start receiving pre-approved offers. But beware. Having credit available is useful for certain emergencies and for demonstrating responsible use of credit—but you don’t need to apply for every offer you receive!

  • Share:

What Are The Odds of Winning the Lottery?

February 22, 2021

What Are The Odds of Winning the Lottery?

Your odds of winning the Powerball are 1 in 292.2 million. For Mega Millions, your odds are 1 in 302.5 million.¹

Translation—you almost certainly will not win the lottery.

You have a greater chance of being killed by lightning (1 in 2 million), having a fatal encounter with a venomous plant or animal (1 in 3.4 million), or being crushed by a falling plane (1 in 10 million).²

The worst part? Playing more doesn’t improve your chances of winning. The probability of drawing the lucky numbers resets every time you buy a scratch-off or choose your “lucky number.” You’re throwing money at a tiny moving target that you’re almost guaranteed to miss.

If you do like to purchase lottery tickets for entertainment—try to keep it to just that. Make sure you budget in ticket purchases with other fun-related activities, and if you do reap some winnings, make sure you have a strategy for saving a portion towards your financial goals.

Buying lottery tickets is generally an unproductive activity. If left unchecked, it can turn into a money blackhole that will almost certainly never pay off. You work too hard for your paycheck to waste it on what amounts to impossible odds.

  • Share:

¹ “What Are the Odds of Winning the Lottery?,” Kimberly Amadeo, The Balance, Nov 4, 2020, https://www.thebalance.com/what-are-the-odds-of-winning-the-lottery-3306232

² “The Lottery: Is It Ever Worth Playing?,” Investopedia, Jan 29, 2021, https://www.investopedia.com/managing-wealth/worth-playing-lottery/

Spend Less or Earn More?

February 17, 2021

Spend Less or Earn More?

What’s the most effective way to meet your financial goals—increasing your income or cutting your spending?

The answer? It depends on your situation. While both strategies can be useful, they’re not interchangeable. Read on to discover the advantages and limitations of each approach… and which one may be right for you.

Spending less: An immediate solution with a fixed floor. There’s no doubt that cutting expenses is the fastest way to move closer to your financial goals. Canceling a streaming service, clipping digital coupons on your phone, and carpooling are simple lifestyle adjustments that take only seconds or minutes to accomplish.

But stricter budgeting can only go so far. Moving back in with your parents, walking to work, and never having fun again may still not be enough. There’s only so much you can cut before you seriously decrease your quality of life!

Earning more: High effort, massive potential. On the surface, increasing your income can seem like a daunting task. Developing your skills, working an extra job and starting a side hustle or business can be labor and time intensive. Furthermore, some of those investments may not pay off immediately—a business or side gig may not generate significant income for weeks, months, or even years!

But those investments also have massive payoff potential. Once you’ve mastered a skill, your earning power is only limited by the market demand for your abilities and your time. And as you grow more and more competent, your potential to earn only increases.

The takeaway? Spending less is a quick and simple move towards your financial goals. But, over the long-term, earning more has far more potential to create the wealth you desire. If you need to quickly increase your cash flow, create a budget and reduce your excess spending. But when your financial situation stabilizes, take inventory of your skills. You might be surprised by how many money earning talents you have, if you take the time to cultivate them!

  • Share:

3 Things to Remember When Asking for a Raise

February 15, 2021

3 Things to Remember When Asking for a Raise

Are you ready to earn more money?

Don’t let fear of asking for more hold you back! Here are 3 simple things to remember when asking for a raise that can elevate your pitch and improve your odds of success.

Be straightforward. Don’t beat around the bush—tell your boss that you think you deserve a higher salary! Higher-ups won’t be blindsided or angered by the request, so long as you frame it respectfully and you don’t ask for an outrageous income boost.

Demonstrate your value. There are two ways to demonstrate your value to your employer. The first is simple—point out the great work you’ve done over the past year. What projects have you crushed, when have you shown initiative, and how have your skills grown? Make a list of your accomplishments and be prepared to share them with your boss.

The second is to research your position. What are other workers in your role and industry earning? Even better, what do they earn in your city and at your experience level? That’s the ballpark raise you should ask for, if it’s applicable.

Ask at a strategic time. Did your manager wake up on the wrong side of the bed this morning? Probably today is not a good day to ask for a raise in that case. But are you both celebrating a significant professional win? You might have better luck!

It’s not about just timing your request with your boss’s mood. Consider asking either during your annual performance review or while your company is making financial plans for the upcoming year. Your higher-ups might be more inclined to reward your work if they observe your accomplishments laid out logically or see that they have cash available in the new year.

Don’t get discouraged if you hear a ‘no.’ If they give you performance related reasons, take note and implement their suggestions. Your company may simply not have enough cash on hand currently to give you anything more. Continue to deliver results, and ask again later!

  • Share:

How to Save for Large Purchases

February 10, 2021

How to Save for Large Purchases

So you’re saving for retirement. Good for you!

You’re further in the game than a lot of people. But retirement’s probably not your only financial priority that requires saving for. Buying a house, raising children, buying cars for your children, and paying for college for your children are just a few expenses you can expect along the way. Preparing for those purchases now can protect your finances from getting blindsided when the time comes. Here are a few steps you can take to start preparing for substantial purchases today.

Write down upcoming expenses and purchases. Make a timeline of all your major, non-regular expenses. Determine how much they could cost, and then rank them in terms of urgency and importance. If it’s urgent and important–like saving for the delivery of a newborn–address it as soon as possible. If it’s important, but less urgent–like toddler-proofing your home–schedule it for later.

Budget out how much you’ll need and start saving. Once you have your priorities straightened out, figure out how much you’ll need to have saved and how much time you have available. Then, set up automatic deposits that put aside money for your savings goals.

Seek higher interest rates. Saving for your purchases in accounts with higher interest rates can give your money the extra juice you need to crush your goals. That may mean opening a high interest savings account with an online bank. But for some items, you might be able to find accounts specifically designed to help you. Meet with a licensed and qualified financial professional and see what options you have available!

  • Share:

3 Steps to Reduce Debt with Limited Income

February 8, 2021

3 Steps to Reduce Debt with Limited Income

Is your income holding you back from paying down debt?

It may feel like necessities such as housing, groceries, and transportation are consuming your cash flow. So how can you pay down debt if you feel like you’re struggling to put food on the table?

Reducing debt with a limited income is certainly a challenge. But if you know the right strategies, it’s an obstacle that you can work to overcome. Read on for tips that can help you pay down debt, regardless of how much you earn.

Budget debt payments first. The next time you sit down to budget, start by allocating money for reducing your debt. It should be your number one priority. Then, budget for essential living expenses like housing, utilities, and groceries. If you need more cash flow, cut down on non-essential spending like dining out and purchasing new clothes.

Start a side gig. If cutting expenses alone doesn’t free up enough cash, explore ways to make more money. That doesn’t always mean starting a second job—after all, this is the golden age of side gigs! Here are just a few hustle ideas for your consideration…

■ Resell books, clothes, and shoes you might pick up from the thrift store on eBay ■ Rideshare or deliver groceries and food ■ House sit, baby sit, or pet sit for friends and neighbors

Ultimately, your ability to earn income is only limited by your creativity in solving problems. What other opportunities are there for you to help others and earn extra income?

Make more than minimum payments. Your debt will linger if you make only minimum payments. That’s because minimum payments are nearly erased by interest. You make a payment, but the interest may put you almost right back where you started.

Instead, choose one debt to eliminate at a time. You should start with the one with the smallest total balance or the highest interest rate. Keep making the minimum payments on your other debts, and target that one debt with the rest of your available financial resources. Once it’s gone, choose the next smallest balance. Rinse and repeat until your debts are gone.

The biggest takeaway is that if you’re working with a limited income, paying off debt has to become your number one financial goal. Devote as much of your budget towards it as possible and increase your earnings if you have to. But it’s well worth the effort—once your debt is gone, you’ll have significantly more income for building real wealth!

  • Share:

Strategies for Coping With Medical Bills

February 3, 2021

Strategies for Coping With Medical Bills

What’s your strategy for paying medical bills?

It’s a question anyone serious about protecting their finances must answer. Afterall, medical expenses are the number one cause of bankruptcy in the country.¹

But there are resources at your disposal. Read on for some strategies to help you lighten the financial burden of medical bills.

Review your bill for mistakes. Somewhere between 30% to 80% of medical bills contain errors.² Check every bill you receive for any mistakes and report them immediately. You don’t need to pay for medical services you didn’t use!

Negotiate a payment plan. The scary price tag on your medical bill isn’t always final. Hospitals are sometimes willing to negotiate a lower cost if they’re aware of your financial situation. Contact your healthcare provider and inform them if you’ll struggle to pay the sticker price. Then, ask for price alternatives or for a more lenient payment plan.

Avoid using credit cards for medical bills, if possible. Using credit cards to cover medical bills can be a critical blunder. Instead of paying a low interest–or maybe no interest–bill to a hospital, you may end up making high-interest payments to your credit card company.

Whenever possible, use cash to pay for medical expenses. That may mean cutting on vacations, not dining out, and holding off on purchasing new clothes until the bill is settled. (Hint: A great reason to keep an emergency fund is to pay unexpected medical bills.)

If none of these strategies make a dent in your medical expenses, consider reaching out to a professional for help. Hospitals and insurance companies sometimes have case workers who can point you towards programs, organizations, and agencies who may be able to help provide some financial relief.

  • Share:


¹ “Top 5 Reasons Why People Go Bankrupt,” Mark P. Cussen, Investopedia, Feb 24, 2020, https://www.investopedia.com/financial-edge/0310/top-5-reasons-people-go-bankrupt.aspx

² “Over 20 Woeful Medical Billing Error Statistics,” Matt Moneypenny, Etactics, Oct 20, 2020, https://etactics.com/blog/medical-billing-error-statistics#:~:text=80%25%20of%20all%20medical%20bills%20contain%20errors.&text=Some%20experts%20across%20the%20web,between%2030%25%20and%2040%25.

2 Ways to Save with Digital Coupons

February 1, 2021

2 Ways to Save with Digital Coupons

Did you know there’s a simple way to save money on your everyday shopping?

Digital coupons can reduce your costs at check out and free up cash flow for building wealth. Best of all, they’re nearly effortless to use. Here are two ways to save money with digital coupons!

Download apps for your favorite stores. Most stores allow you to clip coupons directly to your phone. Before your grocery shopping excursion, download your favorite store’s app and look for the coupon or savings section. All you have to do is choose which coupons to clip and then scan your phone when you check out. The savings will automatically be applied to your purchase. It only takes a few seconds and can add up to serious savings over time.

Install a coupon extension on your browser. Saving on your online shopping is even easier. Coupon browser extensions like Honey or Cently search the internet for coupon codes, discounts, and better deals, and then apply them to your purchase. You don’t have to lift a finger—just buy an item like you usually would and let the extension do the rest. Do some research on which extension is best for you, then locate and download it in your browser’s store.

A final word of advice. Don’t let your new-found coupon clipping power go to your head! Coupons can save you money on your regular shopping. But, if you’re not vigilant, they can encourage you to buy–and spend–more than you might otherwise. Instead, apply digital coupons to your normal purchases. You might be surprised how quickly the savings add up!

  • Share:

A Penny for Your Thoughts?

January 27, 2021

A Penny for Your Thoughts?

Would you rather have a million dollars cash – or – a penny that doubles every day for 31 days?

If you’re eyeing that million dollar suitcase of cash, you’re not alone. Many go ahead and just take the million. Shoot, people don’t even stoop to pick up pennies in parking lots any more, right?

Well, hold on there, Daddy Warbucks. Before you flick that little copperhead in your change jar and run off on your shopping spree, check this out! The total of a penny doubling every day for 31 days equals (drumroll please) over $10.7 million!

Seem impossible? Here’s the play-by-play – or, rather, day-by-day:

Penny doubling corrected (resized 55%)

$10,737.418.22! Are you regretting not choosing the penny?

By day 31, one cent has become over ten times the value of the million dollar cash lump sum. That’s the power of exponential growth – the pure power of compounding.

So how can you apply the power of compounding in your personal financial strategy? It’s unlikely you’ll find someone willing to double your money (in fact, be wary of anyone claiming they can). But you can find effective strategies that leverage compounding through interest rates.

Contact me, and let’s talk about how to put the power of compounding to work for you.

  • Share:

How Your House Can Earn You Money

January 25, 2021

How Your House Can Earn You Money

If you’re a homeowner, your house can do more than just consume cash flow–it can generate it as well!

Here’s how…

Rent out a unit, basement, or room of your house at a price that helps offset the cost of your mortgage. It’s really that simple!

Let’s consider an example that demonstrates why this strategy is so effective.

Suppose you’ve saved enough money to put a down payment on your first home. Good for you! You’ve done the legwork, and discovered that your mortgage payment will be around $1,000 per month. You’ll also need cash for property taxes and homeowners insurance, too. Even though you’re glad you’re in a home of your own, you might start wondering if you’ve bought a money pit that will consume your cash flow for the next 15 to 30 years.

But you’ve also bought a potential source of income, if you think a little outside the box.

See, your house has a finished basement that’s begging to be transformed into a rentable space. All told, you could rent it out to a friend and put those funds toward your mortgage.

By simply utilizing space that you already own, you can unlock a revenue stream that can help offset your mortgage payments!

That extra cash flow can cover daily expenses, pay down the house faster, or help you begin saving and investing.

This strategy, called “house hacking”, may not be for everyone–it favors homeowners with duplexes or finished basements. Plus, it requires the homeowner to become a landlord, a role some may not care for.

If you have the space, consider renting out a slice of your home to someone you trust. It’s a simple way to leverage resources you already have to generate the cash flow you may need!

  • Share:

¹ “Forget coffee and avocado toast — most people blow nearly 40% of their money in the same place,” Lauren Lyons Cole, Business Insider, Apr 26, 2019, https://www.businessinsider.com/personal-finance/how-to-save-more-money-2017-8#:~:text=Housing%20accounts%20for%20about%2037,further%20limiting%20his%20housing%20expenses.

What All Early Retirees Have in Common

January 20, 2021

What All Early Retirees Have in Common

Early retirees track both their net worth and annual spending… and you should too!

Why? Because those two pieces of information are critical to evaluating your current financial situation and understanding what separates you from your financial goals.

Retiring early takes meticulous preparation, a willingness to sacrifice temporary comfort, and consistency. Every financial decision must effectively move you closer to your goal or you run the risk of failure.

Ignorance about your net worth hampers your ability to make certain financial decisions wisely. It may cause you to save less, if you assume your net worth is closer to your retirement goal than it actually is. When the time comes to retire, you’ll be in for a shock!

Failing to monitor your expenses can lead to a similar outcome. What if you never identify the expenses that eat up the majority of your cash flow? You might swear off lattes or designer clothes, but you might miss bigger saving opportunities. There’s a reason that so many early retirees cut back on housing, transportation, and food–they’re the biggest drains on cash flow!¹

Here’s the takeaway—imitate early retirees and regularly evaluate your net worth and spending, regardless of when you plan to retire.

Knowing what you’re worth and what’s eating up your cash flow empowers you to make effective decisions that bring you closer to your lifestyle goals.

What’s your financial status? How close are you to achieving your goals? And what’s standing in your way?

  • Share:


3 Strategies to Increase Your Credit Score

January 18, 2021

3 Strategies to Increase Your Credit Score

Is your credit score costing you money?

A recent survey found that increasing a credit score from “Fair” to “Very Good” could save borrowers an average of $56,400 across five common loan types like credit cards, auto loans, and mortgages.¹ That’s roughly $316 in extra monthly cash flow!

If your credit score is anything but “Very Good,” keep reading. You’ll discover some simple strategies that may seriously help improve your credit score and increase your cash flow.

Pay your bills at the strategic time.
Credit utilization makes up a big portion of your credit score, sometimes up to 30%.¹ The closer your balance is to your credit limit, the higher your credit utilization. The lower your utilization, the less you’re using your available credit. Creditors view a lower utilization as an indicator that you’re responsible with managing your credit.

Here’s a simple way to lower your credit utilization–ask your creditors for when your balance is shared with credit reporting agencies. Then, automate your bill payments to just before that day. When credit reporting agencies review your balances, they’ll see lower numbers because you just paid them down. That can result in a lower credit utilization and a higher credit score!

Automate debt and bill payments.
Late payments for your credit card bill, phone bill, and utilities can negatively affect your credit score. If you have a habit of paying your bills late, consider automating as many of your payments as possible. It’s a convenient and simple way to make your finances more manageable and help increase your credit score in a single swoop!

Leave old credit accounts open.
So long as they don’t require a monthly fee, leave old and unused credit accounts open. Any open line of credit, even if it’s unused, increases the amount of available credit you have at your disposal. And not using that credit lowers your overall credit utilization, which can help increase your credit score.

Closing unused credit accounts does the opposite. It lowers your available credit and spikes your credit utilization, especially if you have large balances in other accounts. So if you have credit cards you don’t use anymore, leave those accounts open and hide the cards in a place where they won’t tempt you to start spending!

The best part about these strategies? You can act on them all today. Ask your creditors when your balance is shared with credit reporting agencies, then automate your deposits to go through right before that day.

When you’re done automating your payments, put your unused credit cards into a plastic bag and put them deep into your freezer. In just a few hours, you’ll have set yourself up to increase your credit score and save money!

  • Share:


Is the RV Life Right For You?

January 13, 2021

Is the RV Life Right For You?

2020 was the year of the RV.

You might have noticed as you scrolled through social media that more of your friends, family, and maybe even your in-laws are moving out of their homes and living on the open road. Don’t believe it? Search #vanlife on Instagram and see what comes up!

It’s not hard to see why. The RV lifestyle pairs material minimalism with adventure. The possessions and mortgage payments that can weigh you down are replaced by bare essentials and the open road.

People crave freedom. A bigger house and lots of toys can’t promise happiness. If you’re a born adventurer, exploring the country in an RV might be the opportunity for escape that you’ve been waiting for.

But it’s not a decision to be made lightly. RVs cost anywhere between $60,000 and $600,000.¹ Beyond that, you’ll have to buy gas, food, and pay for vehicle maintenance. Unless you have a job that allows you to work remotely, you’ll need to save diligently in order to afford life on the road.

That fact has made the RV lifestyle an attractive retirement choice. It’s increasingly common for retirees to sell their homes and use the proceeds to buy a van or RV.

So if you are an adventurer, love freedom, and have the career or savings to afford it, life on the road might be the choice for you!

  • Share:


¹ “Is an RV the Perfect Retirement Lifestyle for You?,” Margo Armstrong, The Balance, July 21, 2020, https://www.thebalance.com/retire-in-an-rv-2388787

Simple Ways to Streamline Your Budget

January 11, 2021

Simple Ways to Streamline Your Budget

Is your budgeting system slowing your financial progress?

It’s not hard to tell if it is. Consistently ignoring your budget and failing to see results like increased cash flow and reduced debt could be indicators that something’s wrong.

Fortunately, it’s not hard to streamline your budgeting process. Here are two simple steps you can take to make your budget more manageable and more effective.

Prioritize your short-term budgeting goals
Splitting your cash flow between non-discretionary spending, savings, your emergency fund, and debt reduction may make you feel like you’ve got all the bases covered, but spreading yourself too thin might actually be diminishing the power of your money. It creates a house of cards that’s waiting to collapse!

Instead of trying to knock out everything at the same time, your budget should reflect your current financial situation. Prioritize where you put your money for the goal you’re trying to achieve. Start by putting all your excess cash flow towards an emergency fund. Then, target your debt. And finally, start directing your income towards building wealth. You’ll more effectively clear the obstacles that block the way towards financial independence.

Automate everything
What if there were a way to automatically make wise financial decisions without even thinking about it? That’s the power of automation.

Once you’ve determined your short-term budgeting goal, set up automatic deposits that move you closer towards achieving it. If you’re building an emergency fund, set up an automatic transfer from your checking account to a high-interest savings account every payday. You can do the same with essential bills and utilities as well.

Once you prioritize and automate your budget, there’s a great chance that you’ll see real progress towards your goals. And once you see progress you’ll feel empowered, maybe even excited, to keep pushing towards building wealth and creating financial independence.

  • Share:


Bridging the Retirement Gap

January 6, 2021

Bridging the Retirement Gap

If you’re already eyeing the perfect recliner for your retirement, hold that thought. And you might want to start rifling through the ol’ couch cushions for a little extra change…

Here’s a doozy: women age 65 and older are 80% more likely to be impoverished than men of the same age.¹

That number represents a staggering degree of human tragedy. But there’s a sad logic to it when you consider that women save 43% less for retirement than their male counterparts.¹

But that’s not all. According to the 2016 Financial Finesse Gender Gap in Financial Wellness Report, to retire at age 65 (without a career break):

  • Men need $1,559,480.
  • Women need $1,717,779.

Women have to come up with $158,299 more! This increase is due to the unique set of circumstances women face while preparing for retirement:

  • Women live longer
  • Women pay more for healthcare

To summarize, women all too often aren’t in a position to save as much as men, even though they need more to sustain their retirements. The tragic result is that many spend their retirements in poverty instead of living out their dreams.

But that doesn’t have to be your story. The savings gap may seem huge, but it can be bridged. And it all starts with a solid insurance strategy. Just think of it as pulling the footrest lever on your dream retirement recliner!

Your unique situation and goals all factor into how you want to kick back when you retire. I’m here to help. When you have a moment, give me a call or shoot me an email.

  • Share:

Is a Metal Roof Right for You?

January 4, 2021

Is a Metal Roof Right for You?

Metal roofs might just be the best way to put a roof over your head.

And not just because the sound of rain hitting metal is incredibly relaxing. They clobber traditional asphalt shingle roofing in several critical categories. Read on to discover why a metal roof might be right for you!

They last for decades
A properly installed metal roof can last up to 70 years.¹ That absolutely clobbers asphalt roofing, which typically lasts only 12 to 20 years. Make no mistake–20 years is a long time. But a metal roof has the potential to be the only roof you’ll ever need installed.

Plus, they tend to be more durable than traditional roofs, meaning they require less total upkeep and preserve the resale value of your home.

They’re more energy efficient
It’s understandable if you’re concerned that a metal roof would transform your house into a walk-in oven. It seems like they would absorb so much heat and radiate it throughout the house, right?

But it turns out that they actually reduce cooling costs by up to 25%.² Instead of absorbing radiation, a metal roof actually reflects heat and light away from your home. That means you can stay cool without having to crank up the air conditioner!

They handle extreme conditions
Metal roofs tend to perform better in the face of extreme weather and natural disasters. For instance, steel and aluminum won’t catch fire if they’re struck by lightning or embers from a fire land on them. And if you’re more concerned about hurricanes than forest fires, a metal roof will still have you covered–they can withstand gusts of wind up to 140 miles per hour!³

But be warned–installing a metal roof is a skill-intensive process that can cost up to 10 times more than traditional roofing.² Before you decide to remodel your home, it’s critical to find a roofer who’s well-reviewed and qualified to do the job right. It’s also worth considering how long you’ll stay put. A metal roof might make more sense on your forever home than it would on a small starter home.

Research the costs and benefits, identify the style and materials you want for your roof, and, if you decide to go through with it, seek out a qualified contractor. Then, sit back, close your eyes and enjoy the sound of rain gently falling on your brand new metal roof!

  • Share:

¹ “Pros and cons of metal roofs for your home,” State Farm, https://www.statefarm.com/simple-insights/residence/metal-roof-pros-and-cons

² “7 Things to Know Before Choosing a Metal Roof,” Donna Boyle Schwartz and Bob Vila, Bob Vila, https://www.bobvila.com/articles/metal-roof-pros-and-cons/

³ “Standing Tall in Hurricane-Force Winds with a Metal Roof,” Liquid Creative, Gulf Coast Supply and Manufacturing, Apr 8, 2019 https://www.gulfcoastsupply.com/standing-tall-in-hurricane-force-winds-with-a-metal-roof/#:~:text=Metal%20roofs%20can%20be%20a,are%20prone%20to%20blow%2Doffs.&text=In%20wind%20uplift%20tests%2C%20metal,gusts%20up%20to%20180%20mph.

The Millennials Are Coming, the Millennials Are Coming!

December 30, 2020

The Millennials Are Coming, the Millennials Are Coming!

Didn’t do so well in history at school? No worries.

Here’s an historical fact that’s easy to remember. Millennials are the largest generation in the US. Ever. Even larger than the Baby Boomers. Those born between the years 1980 to 2000 number over 92M.¹ That dwarfs Generation X at 61M.

When you’re talking about nearly a third of the population of the United States, it would seem that anything related to this group is going to have an effect on the rest of the population and the future.

Here are a few examples:

  • Millennials prefer to get married a bit later than their parents. (Will they also delay having children?)
  • Millennials prefer car sharing vs. car ownership. (What does this mean for the auto industry? For the environment?)
  • Millennials have an affinity for technology and information. (What “traditional ways of doing things” might fall by the wayside?)
  • Millennials are big on health and wellness. (Will this generation live longer than previous ones?)

It’s interesting to speculate and predict what may occur in the future, but what effects are happening now? Well, for one, if you’re a Millennial, you may have noticed that companies have been shifting aggressively to meet your needs.² Simply put, if a company doesn’t have a website or an app that a Millennial can dig into, it’s probably not a company you’ll be investing any time or money in. This may be a driving force behind the technological advancements companies have made in the last decade – Millennials need, want, and use technology. All. The. Time. This means that whatever matters to you as a Millennial, companies may have no choice but to listen, take note, and innovate.

If you’re either in business for yourself or work for a company that’s planning to stay viable for the next 20-30 years, it might be a good idea to pay attention to the habits and interests of this massive group (if you’re not already). The Baby Boomers are already well into retirement, and the next wave of retirees will be Generation X, which will leave the Millennials as the majority of the workforce. There will come a time when this group will control most of the wealth in the US. This means that if you’re not offering what they need or want now, then there’s a chance that one day your product or service may not be needed or wanted by anyone. Perhaps it’s time to consider how your business can adapt and evolve.

Ultimately, this shift toward Millennials and what they’re looking for is an exciting time to gauge where our society will be moving in the next few decades, and what it’s going to mean for the financial industry.

  • Share:

¹ “Millennials: Coming of Age,” Goldman Sachs, http://www.goldmansachs.com/our-thinking/pages/millennials/

² “May We Have Your Attention: Marketing To Millennials,” Kelly Ehlers, Forbes, Jun 27, 2017, https://www.forbes.com/sites/yec/2017/06/27/may-we-have-your-attention-marketing-to-millennials/?sh=2f3cb7cb1d2f

A New Year's Resolution You Can Subscribe To

A New Year's Resolution You Can Subscribe To

“Are you sure you want to cancel?” Click yes.

“Are you sure you’re sure?” Click Yes.

“Like, 100% sure?” Click YES.

“For a free month of service, can you define ‘sure’ for me?” …

When you cancel a subscription to a service, the number of times you have to assure the company that you’re really, actually, truly canceling your service might be directly related to a rise in your blood pressure – or to rage-quitting the cancellation process and telling yourself you’ll come back to it later… Will you really come back to it before they charge you for another month?

Here’s a suggestion for a New Years Resolution: Get off of as many automatic renewal plans as you can. At the beginning of a new year, pushing through that annoying cancellation process has the potential to yield some pretty incredible results for your financial strategy.

Why? Because making the decision to take your cash flow back from a piece of plastic can open up more avenues in your financial strategy. When a credit card is involved, all it takes is a quick swipe here or an online purchase or two there before you find yourself in serious debt. Being conscious of the money you bring in and where it’s going can make it easier to save and spend more wisely.

Set yourself up for success in the New Year. Which services show up once a month and raise that number on your credit card bill? Haven’t read a single issue of that magazine since June? What about that meditation app that you keep meaning to use but don’t make the time to? Nix all of those empty charges that are not helping you reach your financial goals.

There are some subscriptions worth keeping, though, like your subscription to a service that provides anti-virus software to your computer. Even in this case, it might be worth it to check around and see if you can get comparable coverage for a more competitive price.

And beware the non-refunders. If you’re subscribed to a service that won’t give you a refund for the remainder of the subscription period, one option is waiting until a day or two before the next auto-payment. But this can be a little risky, especially if you forget to go back and cancel the service before it renews. If you do choose to wring out all the benefits of the non-refunded service, set a calendar reminder or two (maybe three, just to be safe!) on your phone to be sure you go back and cancel before you’re in the hole for another month.

Some companies may try to lure you back in with the promise of a free month or discounted pricing if you don’t cancel right away. Don’t buy into it unless you immediately reset that calendar alarm on your phone. If you can do without the service, push through the temptation and just say no. The benefits of canceling the charge that will continue to come up month after month if you forget to return and cancel outweigh one free month of use.

So pour yourself a cup of chamomile tea and diffuse some lavender essential oil to help you relax. The process of canceling all of those subscriptions could push anyone’s buttons, but just settle into a rhythm of assuring the company a few times that you want out, and you’ll be fine – and potentially better off financially because of it. Even though it may not feel like much to turn off a couple of subscriptions to save $20 a month, it can really add up. At the end of a year, you’d have $240 dollars that you wouldn’t have if you’d left those auto-renewals in place. That’s $240 dollars that could fit elsewhere in your financial strategy.

With a little work and subscribing to a new idea or two instead, 2018 has the potential to be the year you take back control of your finances.

  • Share:

Subscribe to get my Email Newsletter