Over the past year, there has been increasing interest in cryptocurrencies like Bitcoin, LiteCoin, Ethereum, and even the (joke) Dogecoin. This can be seen merely by the amount of volume sold over that time period, especially in the past six months. As much as it’s in the news, there are still a lot of unanswered … Continue reading Bitcoin, Ethereum, & Other Cryptocurrency: Should You Buy?
Filing for bankruptcy is a heavy decision to make. Consider these aspects of the process and whether an alternative solution may be better.
When I receive a question about cashing out the 401k to pay off debt, my short answer is generally no. The longer answer is still no as a general rule, but it may be a consideration in some very limited circumstances. Here's the rationale behind not cashing out the 401k. Sure, it may be tempting … Continue reading Should You Cash Out Your 401k Early to Pay Off Debt?
A client recently asked me if he and his wife should renew the warranty on their vehicle. Because of the cost-benefit analysis on such warranties, I answered no. A warranty is often a nice little peace of mind when you buy a car. Especially if the car is used, having that extra reassurance backing up … Continue reading Are Extended Warranties Worth the Money?
As most of my clients now know, I am pursuing my Juris Doctor degree and completed my first year in May 2020. As I was in the process of applying to law schools, I came across the Public Service Loan Forgiveness Program. It seemed to be a great idea at first: serve at qualifying non-profits … Continue reading Should I Apply for the Public Service Loan Forgiveness Program?
When it comes to retirement planning, we are currently in a state of transition between the pension and 401k. The pension's days are numbered, but that doesn't mean the skies are gray. In the battle between the pension vs. 401k, you can still come out ahead. On the subject of retirement, I strongly advise my … Continue reading Pension vs. 401k: Which Retirement Option is Better?
When working your way out of debt, life doesn't simply just stop and wait for you to complete the process. It will still continue on and often throw extra curveballs along the way, almost as if its goal is to take you off track from your goals. One of those curveballs is frequently the threat … Continue reading “HELP! I’m Paying Off Debt But May Be Laid Off Soon…”
This is a common question that we as coaches get. A lot of people don't understand the nature of our trade and how a financial coach differs from a financial advisor. That's understandable though, as the financial coaching industry is still a relatively new sector of the financial world. So let's define what advisors do … Continue reading Financial Coach vs. Financial Advisor: What’s the Difference?
Step 3 of the Baby Steps program is to save three to six months of expenses in an emergency fund. This fund is not supposed to be used for shopping sprees, vacations, cars, sofa specials, or anything of that sort; only for true, emergency situations like a job layoff or medical incident. What to spend … Continue reading Where Should I Put My Emergency Fund?
Conventional "wisdom" says that there's no way around having a car payment every month. Vehicles are just so expensive that there's just no way a person can avoid it. You're stuck with that $500 a month payment and have to deal with it for the rest of your life. It turns out this conventional wisdom … Continue reading Car Payments Are One of Your Biggest Obstacles; Here’s Why