Old Mistakes Made New Again 

By Gary Silverman, CFP®
 

Dear Millennial:


First, let me tell you who you are. For the most part, you are between 22 and 37-years-old. Your group is almost as large as the biggest group, the Baby Boomers (of which I am a part). Don’t worry, we’re starting to die off, so you’ll be ahead population-wise in a few years.

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Before Investing: Start with Savings

By Gary Silverman, CFP®

In this column, I’ve been talking quite a bit about investing fundamentals. In the coming weeks, I’ll discuss ways you can do this yourself, without hiring anybody. But first, we can’t ignore something fundamental…

Savings.

It is my experience that many people spend hours researching stocks to find a path to riches or pour over commentaries to cull out the best mutual fund to own for the next six months. But somewhere in all that they forget about just simply saving money.

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Saving is a marathon, not a sprint

By Gary Silverman, CFP®

For years, “running a marathon” was on my bucket list.  Last year, I learned about this program called C25K (Couch to 5K) at a Chamber event at the Endurance House. It is a training program to take so-called couch potatoes and turn them into 5-kilometer race runners in 2 months. I figured that this 5K thing could be more a reality than that marathon idea.

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Saving is a marathon, not a sprint

By Gary Silverman, CFP®

For years, “running a marathon” was on my bucket list.  Last year, I learned about this program called C25K (Couch to 5K) at a Chamber event at the Endurance House. It is a training program to take so-called couch potatoes and turn them into 5-kilometer race runners in 2 months. I figured that this 5K thing could be more a reality than that marathon idea.

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Savings Tips for Home Maintenance

By Michelle Kuehner, Financial Coach


We all know (or should) that an emergency fund is a vital part of any savings plan. Having three to six months’ worth of non-discretionary monthly expenses to continue paying the mortgage, vehicle payments, and other bills can be such a blessing in the event of a financial catastrophe. However, that isn’t all you should be saving when it comes to protecting the roof over your head.

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The Power of Compound Interest

Remember your mid-twenties when retirement seemed like a lifetime away, and living paycheck to paycheck was not only the norm, but your reality. ‘If only I knew then what I know now’ can be heard echoing throughout offices in banks around the country. So we’re here to heed that warning and help you understand the magic of compound interest in long-term savings, before it’s too late.

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Habits of a Savvy Saving Family

When people warn you that having kids is expensive, it’s no joke. From diapers to food, braces to sports activities the costs add up quick. For a middle-income family in the U.S. raising a child up until age 18, costs an estimated average of $245,340 (or $304,480, adjusted for projected inflation), according to the 2013 “Cost of Raising a Child” report from the U.S. Department of Agriculture. Of course, this number fluctuates dependent on where you live and your living habits.

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Three-tiered investment planning

By Gary Silverman, CFP®

Yogi Berra once said, “If you don’t know where you are going, you might wind up someplace else.” To get to the place you want to be in your investing, this week, you have to look at your goals.

Many people invest money for reasons that have no true meaning for them. If instead you began by focusing on what matters to you in life and ensure that your priorities (goals) are consistent with those matters, then your investments will, in turn, support what is truly important to you.

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