Cash Flow Killers, Part 2: I Hate Admitting When I’m Lost

I hate admitting when I’m lost. On June 13, 2014, six hardworking guys put our seventeen-foot canoes into the chilly waters of Basswood Lake for five days of restoration, exploration, and memory-making, but our trip didn’t start out exactly as we planned. Basswood Lake is in heart of the Boundary Waters Canoe Area (BWCA), a […]

Cash Flow Killers, Part 1: A Confession from a Financial Planner

Cash Flow Killers, Financial Planner

“Where is our money going?? How is it possible that I’m a financial planner, I can make a good living, and I still feel completely stressed out about money?” Almost exactly 10 years ago, I realized that I didn’t have a good handle on my family’s cash flow management. The realization was hard to admit; […]

The Retirement Mindgame

Minnesota Retirement Mindgame image

What kind of retirement do you think you’ll have? Qualitatively speaking, what if the success or failure of your retirement begins with your perception of retirement? A whole field of study has emerged on the psychology of saving, spending, and investing: behavioral finance. Since retirement saving is a behavior (and since other behaviors influence it), […]

What is a Roth IRA?

Roth IRA Help

A Roth IRA is a tax-advantaged investment vehicle for retirement savings, much like a 401(k) or a traditional IRA, with the notable difference being that one contributes after-tax dollars to this type of account, rather than contributing pre-tax dollars like one does in a traditional 401(k) or IRA. The Roth IRA was designed by Congress […]

A Retirement Gender Gap

What is the retirement outlook for the average fifty-something working woman? As a generalization, less sunny than that of a man in her age group. Most middle-class retirees get their income from three sources. An influential 2016 National Institute on Retirement Security study called them the “three-legged stool” of retirement. Social Security provides some of […]

Talking to Your Heirs About Your Estate Plan

Talking about “the end” is not the easiest thing to do, and this is one reason why some people never adequately plan for the transfer of their wealth. Those who do create estate plans with help from financial and legal professionals sometimes leave their heirs out of the conversation. Have you let your loved ones […]