As a San Diego homeowner and self-proclaimed financial planning nerd, please allow me to share my thoughts on San Diego real estate. Let me begin by saying: I love getting a good deal. That’s why I shop at Costco, put low-ball offers on used items on eBay, and scrounge Craigslist for free stuff. I do this because I know that I have a limited amount of money. So, to make my money last, I put in a little effort to get a good deal. And, in…
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If you’re wondering what a side letter of instruction is, you’re not alone. To help you understand what this term really means, I want you to consider the following story: Imagine a husband and wife who have been married several years. Like many couples, only one spouse has taken a big interest in the household finances. In this example, let’s assume that the wife is the household Chief Financial Officer and that the husband trusts her judgment completely. Because of this, the couple’s mortgage is…
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For some people, the idea that money = freedom is absurd. Some may even be offended by the idea. Or perhaps enraged. Why such strong feelings? People can have complicated feelings about money. And they may even see their financial success or failure as part of their character. So, when you mention the fact that money equals freedom, someone who isn’t doing well financially can see it as a personal attack. No matter how you feel about it, your feelings can’t change reality. The fact…
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Why is cybersecurity so important? The internet is fraught with scammers and rip-offs. And since our entire lives live online, it’s more important than ever to learn how to protect yourself. Cybersecurity 101: Use Complex Passwords When it comes to playing it safe online (read: best cybersecurity practices), one of the best ways to protect yourself is to make sure you avoid using the same password for every website. Also, please don’t use “password” as your password! Passwords should be a random string of alpha-numeric…
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Recently, we completed a financial plan for a young professional (we’ll call him Adam). I’m happy to say that Adam was on a good track. He was maxing out his 401(k) each year and held small taxable and Roth IRA accounts as well. Prospects were bright for Adam: at his savings rate, the retirement he wanted in the future was a definite possibility. This, of course, assumes that everything goes according to plan. But what if it doesn’t? While Adam did a great job saving…
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Recently, a new client visited our office. He had a good problem to have; he had saved too much money! With most of his money in a traditional IRA account, he was worried about the taxes. He came to us wanting to know how to lower taxes in retirement. Fortunately, there are many ways to lighten taxes in retirement – all without doing anything illegal or unethical. How is that the case? Well, grab a cup of coffee and settle in for our longest blog post ever! If…
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If you’re a young professional who is looking for a way to be smarter with your money, you might want to think outside the box. Sure, you should invest heavily for retirement and buy the right insurance products to protect your assets, but you probably already know that. There is another unique strategy to consider. It’s a combination you may have never thought of – the Health Savings Account (HSA) and the High Deductible Health Plan (HDHP). Health Savings Account (HSA) Defined Did you know…
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Who are the best San Diego financial advisors? Glad you asked! In today’s post, I want to highlight a few that I have come to respect and admire. “You. Have. Lost. Your. Mind.” -Taylor’s wife First, pocket these free resources: 35 Critical Questions to Ask a Financial Advisor [Download the PDF] The 10 Biggest Mistakes to Avoid When Hiring a Financial Advisor [Download the PDF] The Letter Your Broker Won’t Sign [Download the Template] While I would love to help everyone in San Diego invest like…
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