Financial Matters

Tips and news from the financial experts at Attentive Investment Managers.
Oct
15

Relationships and Money, Part III: Prenuptials

couple-signing-prenup

In today’s world relationships are complicated – with second marriages or children from previous relationships things can get even more complicated. In either situation, a legal agreement can assist you as a couple in clearly outlining your wishes and which assets are considered separate property.

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Aug
16

Teach Kids About Money: Recommended Books

kids-money

Kids have a unique way of blowing any parent's budget. The endless requests of "Can I get ….?" give us a clear indication as parents that children do not understand the value of money, and teaching them important values about spending and saving can be a difficult task.

Spare your budget and your patience by teaching your children the value of money early on and help them become super saving smart adults! We recommend these books to help YOU teach your children about managing money and saving.

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May
30

Retirement Strategies

retired-couple

There are many ways to implement plans for your retirement. The two sides of the spectrum of possibilities are to develop a plan and stick to it no matter what, or just go with the flow and see how things play out. Outlining these two options seems almost ridiculous as they represent extreme polar opposites of one another. The reality is that the best plans are those that are well thought out but also allow for flexibility.

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Apr
20

Net Worth / Cash Flow

Net Worth / Cash Flow

Assets, Liabilities, Income and expenses – analyzing what we have financially effectively and honestly can be a confusing task but integral in order to assess where a person is financially and their ability to accomplish their financial goals. Planning properly requires more than black and white numbers on a page – understanding how these numbers relate to and impact your Financial Plan. This is an often overlooked portion of building a sound Financial Plan by many people but is a huge part of the data gathering process done by Financial Planning Professionals and an insightful financial advisor can utilize details found in both to assist them in helping you reach your goals.

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Mar
29

Financial Planning Goals

Financial Planning Goals

Defining one's goals in the Financial Planning process is an integral part of creating a basis for analysis of current financial conditions and how they relate to future plans of action to be developed and implemented. It is critical for goals to be realistic, but more importantly specific and measurable. A Financial Planner can assist you in asking the central questions and guiding you toward how to think about and accomplish your goals. One would develop and recommend actionable steps that can allow you to both prioritize and achieve your goals. Goals can be either short-term or long-term in nature but understanding their role in the overall planning process is important so that you don't mismanage your assets along the way.

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Mar
21

Financial Planning is...

Financial Planning is...

Financial Planning is the comprehensive analysis and evaluation of an individual's current financial state and needs used in the development of a strategy to successfully meet your financial goals in the future. Professionals, like Mike, utilize their knowledge of client's future life goals, transfer plans (in life and death) and future expense needs to develop comprehensive Financial Plans.

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Jan
25

Becoming Debt Free

Becoming Debt Free

Starting off the New Year on a good foot is always preferable but sometimes it takes a little planning and preparation to get you on track, especially when it comes to debt. Facing debt issues can be intimidating but pretending it isn't there makes matters much worse. There is no better time than the present to begin working on your finances and becoming debt free. 

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Apr
26

What is Compound Interest?

What is Compound Interest?
Compounding can seem like a complex concept however, it is quite simple – the longer amount of time you give your money to accumulate the more they have the potential to accrue. Compounding can be thought of interest paid on interest, in other words, deposits can grow at a faster rate. As an example, Investor A saves $2,000 per year for the first 10 years of a 20 year time period. Assuming a 6% annual return her investment would be worth $50,042. Likewise, Investor B saved $3,000 per year during the second 10 year period of a 20 year time period. Assuming the same annual rate of return Investor B would have only accumulated $41,915. Even though Investor B saved more principal than Investor A the earnings of Investor A had longer to grow and therefore they ended up with a larger nest egg. Albert Einstein called the power of compounding the 'eighth wonder of the world'. The bottom line here is to make your money work for you, start saving early and often.
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