Comprehensive Financial Planning

Legacy Planning: Top 5 Things to Know

You’ve worked hard to build everything you have, and it’s important to you that your wealth is transferred according to your wishes and properly preserved for future generations.  Legacy planning is how you do just that. Here are the top five things you should understand before you get started.  #1: Legacy planning is about more than just who gets what.   Legacy planning is a plan for your estate, dictating how your wealth and assets will be passed on to loved ones after your death. It also considers how these things will be managed, provides a way to communicate those wishes Read More

Legacy Planning: Top 5 Things to Know2020-06-10T20:43:06-07:00

Wealth Manager vs. Financial Advisor: Is There a Difference?

When  you’re looking for the right professional to help you manage your money, you come across quite a few different titles. Because we believe that it’s  important to know what you’re getting when you hire someone to provide guidance on your financial life, we’re here to help you sort out the differences as we see them between two commonly used titles: wealth manager and financial advisor.  It’s important to understand that these terms are subjective and can be used to describe those who serve any variety of functions in the financial planning industries.  First, what defines a financial advisor?  The Read More

Wealth Manager vs. Financial Advisor: Is There a Difference?2020-06-09T17:32:43-07:00

Tips for Tweaking Your Financial Strategy Mid-Year

A financial strategy reboot is recommended from time to time, and right now — with the Coronavirus pandemic throwing everything out of whack — we’ve identified a few smart strategy shifts to help you weather the storm. Here are five things you should consider and discuss with your financial advisor. #1: If you’re in retirement, evaluate cash flow needs for the next 12 to 24 months, and where to source it. In other words, identify specifically which assets in your portfolio would be best to liquidate to provide you with the cash you’ll need. How to know which assets are Read More

Tips for Tweaking Your Financial Strategy Mid-Year2020-06-09T17:32:56-07:00

Health is Wealth: Why Good Health Choices Positively Impact Your Finances

Your financial health has a lot to do with your physical health. Here are five health choices that contribute to financial well-being—now and into retirement. Make healthcare planning part of your retirement plan.  If you’ve been participating in your employer’s health care plan, then you may find healthcare costs go up once you retire. In fact, some research shows that you can expect healthcare spending to double over the first 20 years of retirement.* This is the opposite of expenses like travel, which you’re likely to spend less on the further you get into retirement.  In addition to planning for Read More

Health is Wealth: Why Good Health Choices Positively Impact Your Finances2020-06-09T17:33:17-07:00

FDIC vs. SIPC: What You Need to Know Now About Protecting Your Assets

In the midst of the financial tumult caused by the COVID-19 crisis, you’re probably thinking a lot about whether or not your investments and assets are protected. Here’s what you need to know, for both deposit accounts and brokerage accounts. Two Categories of Risk You already know that when you’re placing your money with any financial institution—whether depositing cash in your bank or purchasing investments—there’s inherent risk. It’s important to be able to distinguish between two high-level types of risk. (Of course, there are a number of other types of risk that come with managing your finances and investing, but we’re Read More

FDIC vs. SIPC: What You Need to Know Now About Protecting Your Assets2020-06-09T17:33:40-07:00

Setting up a College Fund: Everything You Should Know

If you have big university dreams for your kids, then you know there’s a big tuition bill in your future. Get ready with our guide to everything you need to know about saving for college. How much do you need to save for college? The answer, of course, varies widely: Community college or four-year university? Private or public? In-state or out-of-state? The latest reported data* on average annual tuition and fees shows anywhere from around $10,000 for a public, in-state institution to $36,801 for a private institution. The best answer to the question of how much parents should save, then: Read More

Setting up a College Fund: Everything You Should Know2020-06-09T17:34:03-07:00

What is Your Definition of Financial Security?

Financial security: It’s where the numbers and your money mentality come together to ensure a stable future. Being financially secure means different things to different people. In one sense, it’s all about the numbers: having a steady income, a solid retirement plan, growing savings, and more than enough in your emergency fund to cover unexpected expenses. In another sense, it’s all about how you feel about your financial situation—both your current situation and your prospective future situation. Do the numbers give you peace of mind? Or do they keep you up at night? It’s likely something you’re considering more and Read More

What is Your Definition of Financial Security?2020-06-09T17:34:13-07:00

Strategic Asset Allocation vs. Tactical Asset Allocation: Know the Difference

What are your investment goals? That’s the most important question to ask as you consider asset allocation approaches. Here we take a close look at two different investment strategies: strategic asset allocation and tactical asset allocation. Understanding Asset Allocation Asset allocation refers to divvying up your investments among different asset classes in a way that balances risk and reward. Exactly what your portfolio mix is—how much you have in each asset class, such as stocks, bonds, cash, and real estate—determines in large part your overall returns. The most important thing to remember? Your asset allocation should always reflect your goals. Read More

Strategic Asset Allocation vs. Tactical Asset Allocation: Know the Difference2020-06-09T17:34:56-07:00

What the Coronavirus (and Market Reaction) Means for Your Money

All signs are pointing to more tough weeks for investors: Coronavirus cases are up, lockdowns and shelter-in-place mandates are increasing, the Dow Jones and S&P 500 continue to fall, and experts are forecasting dramatic plunges in the U.S. GDP for coming quarters. It’s all part of what we are calling the “social distancing recession,” and you may be wondering what this all means for you. We recently held a webinar for Ironwood Wealth Management clients to discuss the current state of the economy and to answer investor questions. Here are our top takeaways. Investors are spooked. The speed at which Read More

What the Coronavirus (and Market Reaction) Means for Your Money2020-06-09T17:35:08-07:00

Coronavirus and Recent Stock Market Volatility

“This time is different”:  The past 2 weeks have brought hysteria to global stock markets, concerned over the daily spread of the coronavirus.  The advisors at Ironwood want to provide guidance and leadership during times like these; and to remind our clients the importance of remaining disciplined, by avoiding impulsive investment decisions based upon uncertainty and fear.  During challenging periods investors often operate under the mindset that “this time is different” – which is indeed true. Every stock pullback has been triggered by circumstances which were different than the past, yet the long-term results have remained the same: markets power Read More

Coronavirus and Recent Stock Market Volatility2020-06-09T17:35:17-07:00
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