Financial Planning Archives

24 10, 2022

Rediscovering the Value of Yields in Recessions
Rediscovering the Value of Yields in Recessions

Rediscovering the Value of Yields in Recessions

BML Wealth Marketing2022-10-23T12:54:10-07:00October 24, 2022|Financial Planning, Investing, Stock Market|

For decades, the name of the personal finances game has been an asset or equity growth. High-growth tech stocks grew to dominate the market, some of which have grown to be among the largest companies in the world. And if you owned stock in those companies while they made their meteoric rise, your overall wealth may have ballooned in the process. But how safe do you feel with your wealth in those stocks during a recession? Would you feel comfortable with a 5% drop right now? A 10% drop? Maybe even more? If such a [...]

14 10, 2022

What Does the Life of a Dollar Bill Look Like?
What Does the Life of a Dollar Bill Look Like?

What Does the Life of a Dollar Bill Look Like?

BML Wealth Marketing2023-02-09T02:10:01-08:00October 14, 2022|Financial Planning|

When was the last time you stopped and thought about how long the dollar bill that’s in your pocket has been circulating through the economy? What has that bill seen? Whose pockets has it been in? What will it see next? Every year, the government prints millions of dollar bills a day. Here’s a quick look at what goes into creating a $20 bill and what determines when a bill’s lifespan ends. The Paper Process The U.S. Bureau of Engraving and Printing makes paper for currency out of a unique blend of 75% cotton and [...]

7 10, 2022

The Pros and Cons of Owning a Second Home
The Pros and Cons of Owning a Second Home

The Pros and Cons of Owning a Second Home

BML Wealth Marketing2022-10-07T14:54:40-07:00October 7, 2022|Financial Planning, Investing|

Second homes can be places for families to gather, lucrative investments, or a mix. Think about what your long-term goals are and how buying a second home would help you achieve them. Is it a place for your family to gather? A place for you to enjoy a particular natural landscape? Or is it a property you don’t see yourself visiting often and want to rent out? If you’re thinking about buying a second home, there are many pros and cons to consider. The Maintenance Any homeowner knows that your house requires constant maintenance – [...]

28 09, 2022

A Financial Advisor Can Prepare You for A Wintery Market
A Financial Advisor Can Prepare You for A Wintery Market

A Financial Advisor Can Prepare You for A Wintery Market

BML Wealth Marketing2022-09-28T10:22:09-07:00September 28, 2022|Financial Planning, Stock Market|

When the winter season comes around, you’ll likely have to adjust your routines and prepare for the cold. If you’re in colder states, you may be looking to purchase a new winter coat or snow boots, or skiing equipment for your winter holidays. Or you may be restocking your snow salt for what are soon-to-be icy sidewalks and driveways. If you live in warmer states, maybe you’ve closed your windows and patios and put your fans and AC units away. The same way you prepare for the winter, you might have to prepare your retirement [...]

12 08, 2022

What Is a QCD and How Does It Work?
What Is a QCD and How Does It Work?

What Is a QCD and How Does It Work?

BML Wealth Marketing2023-02-09T03:00:02-08:00August 12, 2022|Financial Planning, Tax Strategies|

You might expect your tax burden to decrease in retirement – after all, you’re no longer receiving a paycheck that incurs income tax, payroll tax, and Medicare tax. However, your income in retirement could be significant between investment income, rental properties, pensions, Social Security, and retirement account withdrawals. Then starting at age 72, you will likely need to take Required Minimum Distributions (RMDs) from your traditional retirement accounts, which could potentially increase your taxable income. So, how can you work to minimize those taxes? One potential strategy is to do a Qualified Charitable Distribution. What [...]

8 08, 2022

Inflation and a Gallon of Milk
Inflation and a Gallon of Milk

Inflation and a Gallon of Milk

BML Wealth Marketing2022-08-08T00:19:34-07:00August 8, 2022|Economy, Financial Planning|

In 1960, a gallon of conventional whole milk was 31 cents, and today it’s $4.21 on average.[1] A few dollars might not seem like much, but that’s a 1,258% increase! Now that we’re seeing high inflation, the buying power of your money – including your retirement savings – could be seriously impacted. When calculating how much money you need to retire, consider what you’re left with after inflation. The Value of Money Over Time When you think about the fact that almost everything you buy is increasing in price, inflation is a major concern. The [...]

27 07, 2022

Inflation Finds its Way to Your Wallet
Inflation Finds its Way to Your Wallet

Inflation Finds its Way to Your Wallet

BML Wealth Marketing2022-07-27T09:33:36-07:00July 27, 2022|Economy, Financial Planning|

There’s no doubt that people have been feeling the effects of inflation on their wallets. Everything from food to gas to home repair products seems to be increasing every day. Federal Reserve Chairman, Jerome Powell, is taking inflation very seriously, raising interest rates to combat the explosion of inflation. And although the moves have made an impact, the Federal Reserve noted that inflation is stickier than it had predicted.[1] This is all to say that inflation may be here to stay. You might be thinking, “What can I do to mitigate the effects of inflation [...]

20 07, 2022

Don’t Succumb to the Fear of Missing Out
Don’t Succumb to the Fear of Missing Out

Don’t Succumb to the Fear of Missing Out

BML Wealth Marketing2022-07-20T11:11:40-07:00July 20, 2022|Financial Planning, Investing|

If you’ve followed markets or financial news, especially in the past few years, you may have come across the term “fear of missing out,” commonly abbreviated to FOMO. When markets keep going up, FOMO can start to creep in. It can start to feel like you’re leaving gains on the table by not rebalancing your portfolio to include the ultra-high growth assets that saw big jumps. The desire to get as much as you can from your assets is normal, but if you let it influence your decisions, you could end up risking more than [...]

15 07, 2022

What NOT to Spend on During Inflation
What NOT to Spend on During Inflation

What NOT to Spend on During Inflation

BML Wealth Marketing2022-07-15T13:40:55-07:00July 15, 2022|Economy, Financial Planning|

Are you feeling shocked at how expensive your regular expenses are? Well, you’re not alone. Many Americans are feeling the burn as the price of daily goods increases due to stimulus checks and supply chain shortages. As the economy gets back on its feet after the COVID-19 lockdowns, inflation will likely stick around. However, inflation isn’t affecting all goods equally, meaning some spending sectors will see greater price increases than others. Let’s dive into what exactly these goods and services are so you can best prepare to avoid their high costs. Travel The cost of [...]

4 07, 2022

Retirement Requires a New Perspective on Wealth and Income
Retirement Requires a New Perspective on Wealth and Income

Retirement Requires a New Perspective on Wealth and Income

BML Wealth Marketing2022-07-05T08:23:16-07:00July 4, 2022|Financial Planning, Income Planning, Retirement Income, Retirement Planning|

This 4th of July, you may be throwing a party, watching fireworks, barbequing something good, or all the above. But what remains important is that you can do all that with family and loved ones. Last year on the 4th, you may not have worried about market downturns or cost-of-living increases, but with market volatility and inflation threatening retirement plans this year, it’s important to make sure you know your options when it comes to protecting your wealth, earning income, and knowing the difference between both. Keeping Your Income at Pace with Inflation Income is [...]