retirement planning

Successful Financial Habits For College Graduates

Successful Financial Habits For College Graduates

Dee Kerr, CFP®, CDFA®

It’s that time of year again-- college graduation is upon us. There could be a lot of college graduates that find themselves making personal financial decisions on their own for the first time. This can seem overwhelming and a daunting task at the start.

Financial Mistakes Real People Have Learned From

Finances are complicated for some of us. That’s okay, we’ve all been there. Featured today are some real-life financial mistakes that real people have made, that they’ve learned from, that they want you to also learn from so you don’t make the same mistakes. (Or if you’ve made these same mistakes, just know that you’re not the only one!

Fourth Quarter 2018 Gross Domestic Product

More data regarding America’s economic output were collected and tallied up by the Bureau of Economic Analysis, providing a fuller look at our nation’s gross domestic product.  Unfortunately, the fuller picture suggests additional slowing took place in the final quarter of last year than first thought.  On a seasonally adjusted, annualized basis, output grew 2.2 percent, r

The Real Cost Of Owning A Mutual Fund

In over 40 years of business, our firm has never lost any money for our clients, in part because they don't own mutual funds. The following article seeks to simplify the many complexities of mutual fund expenses so investors are able to discover the true costs associated with mutual fund ownership.

5 Skills To Help You Save Money

Everybody wants to know ways to save money. Finding “life hacks”, searching through the couch cushions, you know the drill. 


Here are some simple skills that you can learn to save some money in the long run so you can stop spending and start saving. 

1. Learn to Sew 

Mental Accounting and Other Cognitive Biases

By Echo Huang, CFA, CFP®, CPA

Imagine that you decide to go to see a new movie.  You hand the cashier at the counter a twenty dollar bill. She gives you back a ten dollar bill and a ten dollar ticket. But when you get to the theater door, you realize you don't know where your ticket is. It's just lost. Do you think you'd pay ten dollars for a new ticket, or would you just head home? If you're like most people, you might be tempted to head home. In fact, when the psychologists Kahneman and Tversky presented this problem to college students, fifty-four percent of people said they'd probably just head back home. 

But now imagine a different scenario. This time, you hand the cashier at the counter twenty dollars. This time, she gives you back two ten dollar bills, so that you can easily pay ten dollars at the door to get in. But when you get to the door, you realize that you can only find one of the ten dollar bills. The other one's not in your purse or your pocket. It's just lost. Would you pay ten dollars for the movie or just head home? if you're like most people, you'd probably still go see the movie. In fact, when Kahneman and Tversky presented this problem to college students, eighty-eight percent of people said they'd probably go to the movie anyway. 

The different responses to these cases illustrate a bias known as "mental accounting."  Mental accounting bias is an information-processing bias in which people treat one sum of money differently from another equal-sized sum based on which mental account the money is assigned to.  Mental accounts are based on such arbitrary classifications as the source of the money (salary, bonus, inheritance, gambling or business profit) or the planned use of the money (leisure, necessities).  

What's Estate Planning and How Do I Do It?

Let’s get to the point 

What is an estate? Essentially, everything you own. 

So, what’s estate planning? Essentially, controlling where all those things go after you pass away. Instructions on where/ to whom your possessions will be going. But, it’s also so much more than that. 

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