“I’m Paying Off Debt But May Be Laid Off; What Can I Do?”

Being laid off is a huge setback. But it's important to think carefully when you have that fear. Consider this if you have that concern.

“Should I Be Cashing Out My 401k to Pay Off Debt?”

When I receive a question about cashing out a 401k to pay off debt, my short answer is generally no. It entails a lot of unrecoverable loss of long-term growth. We can make more money, but we cannot recover time. Nonetheless, there are some limited circumstances in which cashing out a 401k may be the … Continue reading “Should I Be Cashing Out My 401k to Pay Off Debt?”

Bitcoin, Ethereum, & Other Cryptocurrency: Should You Buy?

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?

Are Extended Warranties Worth the Money?

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?

Pension vs. 401k: Which Retirement Option is Better?

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. I strongly advise my clients to assume that someday … Continue reading Pension vs. 401k: Which Retirement Option is Better?

Financial Coach vs. Financial Advisor: What’s the Difference?

This is a common question that financial 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 industry. So let's define what advisors do versus what I do, because … Continue reading Financial Coach vs. Financial Advisor: What’s the Difference?

Where Should I Put My Emergency Fund?

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?

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