College Planning and College Loans
{3 minutes to read} Today, let’s talk about college planning and college loans. Here is a link to a speech given to the graduating class of 2019 at Morehouse University where the graduates were told that all their student loans were going to be paid through a grant. The graduates were understandably excited, but it got me thinking. Imagine my roommate had to take out a big loan to pay for college, whereas I paid for everything myself. I worked to earn the money so that I would [...]
When Did You Last Review Your Life Insurance?
{4 minutes to read} Today, I want to talk about reviewing your life insurance. Years ago, somebody said to me, “Inspect what you expect.” In the last couple of years, I have had so many experiences with people who bought life insurance but didn't realize that their policy had a point at which it was going to expire. Many people buy term life insurance which has a specific period of time; 5-10 years or, more commonly, 15-20 years and sometimes 25-30 years. What they tend to forget is [...]
Bill Sharpe on Finding a Better Retirement Income Solution
{1:30 minutes to read} Today, I want to continue the conversation we’ve been having about retirement income. I learned some time ago that the only reason people save is to be able to accumulate a pool of money that they can spend at some time in the future. I want to introduce an article and a video from economist Bill Sharpe, who is a Nobel Prize-winning economist and a Stanford University professor of economics. His article, Finding a Better Retirement Income Solution, really supports the conversations that we’ve [...]
Retirement Income Annuities
{2:30 minutes to read} Today we want to talk about retirement income annuities once again. The subject of annuities is so often misunderstood and maligned, but think about what it would be like to have a guaranteed income at a level that would cover your monthly expenses for the rest of your life. Think about what that could do for you. It would allow you not to have to worry about market fluctuations. It would allow you to continue to get a paycheck and that paycheck would be [...]
Disability Insurance Awareness Month
{2 minutes to read} With May being Disability Insurance Awareness Month, I wanted to focus on disability insurance — which is in so many ways the Achilles heel of a financial plan. Too many times, people rely on their company or government benefits like Social Security or state disability, which don't necessarily provide adequate protection. Think of it this way — If you had a golden goose in your basement, and it was churning out $250,000 a year, would you insure that goose? Too many times people insure [...]