Our Latest Posts

  • End Of Year Planning Checklist Highlighting Cashflow, Investment, Insurance and Estate Planning topics you should consider before the end of the year

    End Of Year Planning

    End-of-Year Planning If you’re like me, you’re probably thinking how can it be December?  Where did 2022 go?  Before we turn the page to 2023, there could be some actions you could take to improve [...]

  • 100 dollar bills with Ben Franklins face centered and Tax Credits for College written below

College Tax Credit

November 21, 2022|0 Comments

College Tax Credit Paying for college for you, your spouse, or any dependents you can claim on your taxes?  If so, you could be eligible for a college tax credit when you file your federal [...]

  • Graph with a downward sloping line with the vertical axis labeled Quality of the Experience and the horizontal axis labeled stuff. This is alpine-style

Alpine Style Living

November 14, 2022|0 Comments

I usually write something original when I post these images, but I really liked Carl Richard’s thoughts on extending alpine-style to life.  I’ll have a few more comments at the end. When people think of [...]

  • Paper labeled Scholarship Application with a calculator and glasses laying on it

Where To Find College Scholarship Money

October 25, 2022|0 Comments

Where To Find College Scholarship Money Many people I talk to about preparing for college assume their children will qualify for scholarships.  They are surprised though when we talk about where most of the scholarship [...]

Planning

  • Goal = Guess written in black sharpy on a white background

Goal = Guess

October 19, 2022|0 Comments

Goal = Guess Do you get stressed when someone asks you about your goals?  Concerned about either not reaching them or not sure what you want?  Are you concerned because you’ve hit previous goals and [...]

  • Paper doll family with a human hand holding an umbrella labeled insurance over them

3 Ways to Estimate Your Life Insurance Need

October 9, 2022|0 Comments

3 Ways to Estimate Your Life Insurance Need  Life insurance is an important pillar within your financial plan.  It can provide money for the people who rely on you should the worst happen.  There are [...]

  • Puzzle with 3 center pieces in blue labeled financial plan

6 Critical Financial Plan Elements

October 5, 2022|0 Comments

Wednesday, October 5th marks the 6th annual World Financial Planning Day.  My favorite made-up day of the year 🙂  So what should you have in your financial plan? When most people think of financial plan, [...]

  • Drawing shoing box with Micro-Action in it connected via squiggly path to 3 other boxes labeled positive outcome

Micro-Actions Lead to Big Results

June 7, 2022|0 Comments

Micro-Actions Lead to Big Results When tackling big, audacious goals, you don’t need big, audacious actions. All you need is the contagious magic of micro-actions repeated consistently. Let me give you an example. Some of [...]

  • Time Bomb

Tax Time Bomb

May 18, 2022|0 Comments

Are you building a retirement tax time bomb? Conventional wisdom says retirees will be in a lower tax bracket in retirement than when they are working so they should defer taxes today.  In some cases [...]

  • Financial Planning Cone of Plausibility

Financial Planning Under the Cone of Uncertainty

November 16, 2021|0 Comments

I am fascinated by hurricane tracking models.  Strange because I’ve never lived in an area prone to hurricanes.  The cone or funnel shape of the forecast shows the probable path of the storm over 5-7 days.  The “spaghetti” models are also interesting.  These are the individual forecasts that one of the weather supercomputers thinks the storm will take.  Sometimes they cluster together.  Other times they are wildly different.   The forecast improves and the cone narrows as the hurricane progresses and new information is obtained.

  • Curvey line from reality to goal illustrating how we build a financial plan

Less Wrong Tomorrow

October 31, 2021|0 Comments

Real Financial Planning is not about being right today, it’s about being less wrong tomorrow. Airline pilots know this. For years, every time I met one, I would ask two questions. The first was, “Do you prepare a flight plan for every single flight?” And every pilot I asked answered “Yes.” The second was, “How often does the flight go exactly as you planned?” To which they always answered “Never.”

Next Mission Answers Ten Questions For A Financial Planner

October 31, 2021|0 Comments

In a previous article, I discussed why it’s important to perform due diligence when you’re hiring a financial professional and how military members have unique requirements they should seek to address because of their benefits. Based on the questions I compiled, I believe it’s only fair and transparent that I publish my answers

  • Couple talking to a financial advisor.

10 Questions Military Should Ask Before Hiring A Financial Planner

October 31, 2021|0 Comments

Do a quick Google Search on “Questions to ask your financial advisor” and you’ll find a page of articles. All have a slightly different focus depending on whether they emphasize planning like this one from the CFP Board, or investments likes one from Nerd Wallet, or some personal questions like this one from Dave Ramsey.  While good starting points, none focus on financial planning for military members and the unique benefits available to members.  With that in mind, consider these questions when interviewing advisors.

Saving & Investing

  • 2 boxes the one on the left is larger and it is labeled pain from loss. The smaller one on the right is labeled pleasure from gain.

Loss Aversion

September 23, 2022|0 Comments

We feel the pain of loss more than we feel the pleasure from gain. Because of this, we try to avoid loss. This is called loss aversion.

  • Large Stack of 100 Dollar Bills As ALump Sum illustration

3 Considerations for Investing a Lump Sum of Money

September 8, 2022|0 Comments

3 Considerations for Investing a Lump Sum of Money Investing is typically an ongoing process tied to the steady rhythm of receiving their pay.  Occasionally though you may receive a larger lump sum of money [...]

  • Multiple I Bonds displayed

The What and How of I Bonds

July 16, 2022|0 Comments

I Bonds are currently yielding 9.62%. What are they and might they be a good place for you to save money you don't need for at least a year.

  • Illustrate Money Growth

How To Diversify Your TSP Holdings

February 24, 2022|0 Comments

The proposed TSP Mutual Fund Window is too expensive for small accounts. Here are some other options to diversify away from TSP and when and how you might consider using the Mutual Fund Window.

5 Ways to Optimize Your Saving

January 19, 2022|0 Comments

Saving money is a critical component of long-term wealth.  Making savings a continuous habit is key.  Here are some tips to make it easier.  

College Planning, Saving, and Funding

  • Jar with money labeled college next to a piggy bank with a graduation cap on it representing the GI Bill

5 Mistakes to Avoid When Splitting the GI Bill

September 8, 2022|0 Comments

5 Mistakes to Avoid When Splitting the GI Bill The Post 9/11 GI Bill is a fantastic benefit for those who served in the military after 9/11/2001. The ability to transfer the benefit to military [...]

Life

  • Recency Bias - Curve going down and then up which is labeled surprise. There is also a dashed line following the trend that says expectation.

Recency Bias

August 24, 2022|0 Comments

We are great at projecting what has happened recently will continue to happen in the future. This is also known as recency bias.

  • Your Future Self 4 Circles labeled today, tomorrow, next year and 30 years. The circles get smaller as the time increases.

Your Future Self

July 26, 2022|0 Comments

It's often hard to imagine our future self even in the near-term. Thinking about our future self is important.

  • 4 boxes with check marks labeled process; 4 other boxes with 1 checked labeled outcomes

Process Over Outcomes

June 27, 2022|0 Comments

Process Over Outcomes Have you ever made a decision that didn't work out as you had planned or hoped?  Did that make it a bad decision?  Maybe, but maybe not.  I believe in process over [...]

  • Square with Is Mine Bigger Than Yours? written underneath

Comparisons

May 5, 2022|0 Comments

Comparisons Many people seem obsessed with comparisons to others.  This is pointless behavior, of course. How other people are doing has nothing to do with how you are doing. But it’s what we do. Last week [...]

  • Two circles - Things that Matter & Things I can control. Slight overlap of the circles shaded. Shaded area labeled what I try to focus on

Focus On What You Can Control

April 5, 2022|0 Comments

There are many things that matter in life. There are also things that I can control. The overlap is what you should focus on. What should focus look like for your financial life?

  • Getting Ahead versus having enough

Enough

March 8, 2022|0 Comments

Are you continually trying to "get ahead" or are you satisfied with having enough? Enough usually requires much less.

Removing Our Blind Spots

December 9, 2021|0 Comments

We all have blind spots, and by definition, you can’t see your own. Let me give you an example. One time, I was having a conversation with a friend of mine. Let’s call him Dave. Dave was a retired investment banker who really knew his way around money. If anyone knew how to invest, it was him. But he was looking for help managing his portfolio. I asked him, “Dave, of all the people I know, you’re in the best position to deal with your own money. Why do you need help?”