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Planning

  • Person holding a Social Security Benefit Form considering their options in theses Social Security Case Studies.

Social Security Case Studies: Claiming for Couples

September 27, 2023|Comments Off on Social Security Case Studies: Claiming for Couples

Social Security Case Studies: Claiming for Couples Planning for retirement involves numerous decisions, and one of the most significant factors is Social Security.  Social Security retirement benefits provide inflation-adjusted lifetime payments to recipients and survivors.  [...]

  • 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

College Planning, Saving, and Funding

Life

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?”