Finding the Best Order for Funding Retirement
With a task as important as funding your retirement, determining which accounts to fund and in what order should not be taken lightly. Whether it’s a company plan, individual retirement account or taxable account, there are a lot of ways to save for retirement. So how do you decide where to put each dollar you […]
Balancing Saving and Giving
Most of our clients aspire to be financially self-sufficient. As those clients age, we notice some amount of transition into wanting to benefit others with accumulated resources. This giving can range from donations to charities of interest to paying for a grandchild’s education to helping a friend in need. We have been fortunate since the […]
Retirement Saving Myths and Misconceptions
We are fortunate to have a very educated and knowledgeable client base, but we are consistently surprised by the myths and misconceptions clients and prospects bring to the conversation. Below I have listed my Top 7 Myths and Misconceptions About Retirement Savings; it is by no means a complete list but highlights the most common […]
How Much is Enough – An Intro to Monte Carlo Simulations
When it comes to retirement planning, one of the most often asked questions is, “What’s my number?” In other words, how much money do I need to save to retire comfortably? Simple, right? Well, not exactly — it’s far more than just a static number posted on our refrigerators. Although there are quick formulas and […]
Insight into Fixed Income & Timing of Social Security
When entering retirement, the question of how to structure income can be the most influential factor in determining a family’s long-term financial well-being. Several factors such as income source, inflation, and sequence of returns present risks and opportunities for retirees. Today’s Atheneum discusses how we might explore retirement income with John and Jane Smith. They […]
The Grey Area of Paying Off a Mortgage Early
A key question that soon-to-be retirees often face is whether or not to eliminate a debt before retirement. Generally, we would love to see all our clients enter their retirements debt free. However, there could be some instances where making monthly debt payments is not necessarily a bad thing (i.e., zero-percent financing on a car). […]
Simplify Budgeting to One Key Number
“Where does the money go?” is a question we, unfortunately, hear all too often when discussing budgeting and cash flow. Often the only thing simple about a family’s cash flow is that it is simply confusing. Let’s look at how we help simplify complicated family finances into one key number. Often times we see clients […]
Cash Flow Autopilot
The Ballast Atheneum has focused on many aspects of cash flow planning, including budgeting, retirement savings vs. paying down debt, costs of vehicle ownership, and cash flow planning vs. long-term care. This article shares a case study that we try to create for working clients. We have implemented this Retirement Autopilot for many people and […]
The Forgotten Costs of Car Ownership
Key Takeaways: As we continue to discuss cash flow topics in our Ballast Atheneum, we considered it relevant to discuss car related payments. Among the more common things we find that tends to break a budget are the often-forgotten costs of car ownership. It’s easy to remember the monthly loan or lease payments, insurance premiums, […]
Paying Down Debt vs. Saving for Retirement
Here is one we hear all the time – “How can I save for retirement with all of these monthly debt payments?” For what is seemingly a simple question, the answer can actually be somewhat complicated. Striking the right balance between debt payments and savings contributions will vary with each household and the solution is […]
Cash Flow – The “B” Word
For many individuals, families, and even companies, the infamous “B” word causes undo stress, and anxiety, and at times, can even lead to arguments. As we look at our financial goals, many lists reference this “B” word as something they hope to achieve or implement. Today we will discuss the core of cash flow planning… BUDGETING! Budgeting […]
Student Debt Options for Graduates
Although a minority of our clients have student debt, those that do not almost always have children or grandchildren planning on attending college. Costs of college attendance have inflated so fast that we discuss it with parents of newborns. We’re seeing a steady increase of borrowers with six figure debt levels, making student debt repayment […]
