Financial Planning Articles

Rollover Your 401k into an IRA...While Your Still Working There!

You've probably heard the sage advice to rollover your 401(k) into an IRA once you've separated from service with your employer.  What many people don't know is they don't always have to stop working for their employer to qualify for a 401(k) rollover.

Most company retirement plans (401(k)s, 403(b)s, 457's) include a plan provision called an "In Service Withdrawal".

The in service withdrawal is available to current company retirement plan participants who have reached the age of 59 and 1/2 but are still working for the company. The provision allows them to roll the current balance into an IRA at a different financial institution.

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Tags: investing, 401k, rollover

Teaching Kids About Money...."The Tradeoff"

There are four principles that are foundational to teach our children before they leave the home as it relates to money and money management. 

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Should I Manage My Own Investments? Two Types of Investors

If you own any of your own investments, you may have asked yourself if it would be better to manage them yourself or to hire a professional to do so on your behalf.

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When Should I Buy Long Term Care Insurance?

This article does not address whether or not you should purchase long term care insurance.  I will assume for my purposes that you've already decided this in the affirmative.

Also, I will assume that you have decided that paying ongoing premiums for the insurance is the best fit for you.  If you would like to learn about an alternative to regular ongoing long term care insurance premiums, you can read the Long Term Care Insurance Without Ongoing Premiums article.

Once you've made the decision to purchase long term care insurance using ongoing premiums, the next major decision to make is when to seek out a policy.

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Tags: long term care insurance

Long Term Care Insurance Without Ongoing Premiums

Managing the potential financial risk to your income and assets is an integral part of smart financial planning.  With increased life expectancies and the rising cost of health care, many people are asking the question, "should I buy long term care insurance?".

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The Three Reasons We Go Into Debt...and What to Do About It

It is rare to find an American family without consumer debt.  Whether it is credit cards, student loans, home equity lines of credit, or auto notes, debt has crept into the fabric of our everyday financial life.

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Tags: Get Out of Debt, Cash Management

Resource to Put Together a Spending Plan

I heard a story some time ago about an elementary school whose playground was near a busy street.  The children would not play anywhere near the street because of the danger.  Instead they congregated close to the school building.

Later on, the school decided to build a fence along the length of the street to separate it from the playground.

Interestingly, after this boundary was placed, the kids moved their play far beyond their original location and closer to the street itself.  In fact, they would play right up to the fence boundary without fear.  How interesting that a boundary actually decreased fear and tension rather than increased it.

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How Can I Find a Financial Advisor I Can Trust?


If you have ever been involved in a financial transaction with a broker, adviser, or planner, the following questions may have crossed your mind...

"Is this product in my best interest, or in their best interest?"

"How will my adviser be compensated in this transaction?"

"Is there anything that might be influencing their recommendation toward this particular product or service?"

If so, you are not alone.  The financial services industry and its compensation system is not as clearly understood as other industries.  By knowing the “hows” and” whys” underneath the products and services offered, you may be in a better position to make smart choices with your money.

It goes without saying that each adviser deserves to be compensated in some way for the service and products that they provide consumers.  Very few of us are naive enough to believe that they work on a pro-bono basis.

Understanding how advisers and agents are compensated can give you, the consumer, a better basis for understanding what may be right for you, or what could be a product recommended in self-interest.

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Tags: christian financial adviser, conflict of interests, investment advisor, christian financial consultant

Can I Do My Own Financial Planning? The Case for Accountability

As a financial advisor, you would think it strange if I thought that most people could or should do their own planning.

From my perspective, the issue is not so much one of competence to do it yourself, but the value of your time and the role of accountability in the overall process.

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Tags: Do it yourself planning

Should I investment in my 401k? Not if you can use these vehicles

For many individuals, the 401k, 403b, and 457 has been the "no-brainer" way to invest for retirement.  

In this post, I want to discuss 3 creative alternatives for the management of your current 401k, 403b, or 457 balance, even if you are still working for your company.

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Tags: investing, 401k, self directed 401k, investing alternatives