Financial Planning Blog

The health savings account (HSA) is often misunderstood financial planning tool. A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). Some people confuse...

The question of whether you do or do not need a downtown Chicago wealth planner involves clarification of what is a wealth planner and do they need to be located in downtown Chicago. What if your wealth planner is located somewhere...

Do you want to maximize your Social Security? Unfortunately, maximizing your social security is not so straightforward. Time is running out on some key strategies. This is especially true if you were age 62 by December 31, 2015. These strategies can...

The question “do you need black financial advisors?” has two components: Should race should be a consideration in selecting a financial advisor? Do you need multiple black financial advisors or just one? It is well documented that the financial condition...

If you are losing sleep wondering if you have enough retirement savings you are not alone. A recent study by Bankers Life Center for a Secure Retirement (Study) finds many middle income boomers have retirement savings worries. While one-third feel very...

Credit cards make spending money easy but without making us think much about how much we are spending. Then the bill comes and our payment is bigger than last month’s. As a CERTIFIED FINANCIAL PLANNER™ professional (CFP®), I often hear “Mr. Brewer...

Some so-called financial advisors refer to themselves as financial doctors. We expect much from our doctors. Many doctors are awesome. I credit my kids to myown fortunate second opinion. Hopefully you will benefit. Financial Advisor- Solutions before advice1 You go to...

Are you feeling financial stress? You’re not alone. Financial Finesse reports1 that 55% of women ages 30 to 55, with minor kids and household incomes less than $60,000 a year, report “high” or overwhelming” levels of financial stress. They aren’t...

No small business owner I have talked to knows their 401k plan fees or their effective tax rate. One of the questions on the Envision Wealth Structural Assessment is “Do you know your effective federal income tax rate? I have yet to...

Are your social concerns incorporated into an impact investing plan for your retirement or other long term goals? Maybe you have had no training in investments. Maybe your first introduction was the enrollment meeting for your 401(k). Maybe you saw many...

While predatory lenders capture the headlines, there are other predatory wealth advisers. While Bernie Madoff comes to mind, there are many others that don’t make the headlines. Unfortunately, there is no profile of a predatory wealth adviser. The Certified Financial Planner Board recently did an...

There’s a lot of information regarding women’s wealth planning. However it’s typically based on averages and rules of thumb. Often some of the media try to make it seem like it’s pretty easy if you just do these few things....