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Loss Aversion

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.

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5 Mistakes to Avoid When Splitting the GI Bill

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 […]

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3 Considerations for Investing a Lump Sum of Money

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 […]

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College Funding

7 Reasons To Save For College In A 529 Plan

529 plans provide a tax-advantaged way to save for future education costs. Here are 7 reasons to use a 529 account.

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Life

Recency Bias

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

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Your Future Self

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

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Process Over Outcomes

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 […]

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Comparisons

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 […]

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Focus On What You Can Control

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?

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Enough

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

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Removing Our Blind Spots

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...

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Planning

Direct Your Money – Beneficiary Designation

Beneficiary designation for your financial accounts and life insurance take precedence over your will. Make sure they're up to date.

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Micro-Actions Lead to Big Results

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 […]

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Tax Time Bomb

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 […]

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Retirement Check-In – 10 Years Out

10 Years before your planned retirement is a great time for a retirement check-in. Here are 7 key things you should do.

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Financial Planning Under the Cone of Uncertainty

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...

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Less Wrong Tomorrow

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...

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Next Mission Answers Ten Questions For A Financial Planner

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...

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10 Questions Military Should Ask Before Hiring A Financial Planner

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...

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Saving and Investing

The What and How of I Bonds

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.

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Inheriting a Traditional IRA? New Rules May Increase Your Taxes

The SECURE changed the rules for Inherited IRAs. If you inherit a Traditional IRA it could cost you more in taxes. Here are some things you can do.

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How To Diversify Your TSP Holdings

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.

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TSP Mutual Fund Window – Too Expensive For Small Accounts

The Thrift Savings Plan (TSP) may soon provide access to mutual funds. Based on the current proposal is it a good deal? As proposed, the fees and expenses make it a bad deal for small accounts.

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TSP Rollover: 3 Reasons To Consider

The Thrift Savings Plan is a great retirement savings option, but it can sometimes make sense to rollover those funds after Federal service.

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5 Ways to Optimize Your Saving

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.  

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The Power of Increasing Savings

Increasing your savings rate annually by a small amount can have a profound impact on your long-term wealth accumulation.

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