Most people have heard of the time value of money. It’s a simple concept with a powerful message: The earlier you put your money to work, the more time it has to grow. Let’s look at an example. Imagine you’re 20 years old and start saving $1,000 every month. Assuming an average annual return of…
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Let’s be honest. Most of us know we should eat healthier, exercise more, spend less, and save more for the future. We know what we should be doing. The challenge is actually doing it—and sticking with it over time. Retirement planning is no different. Building a comfortable retirement rarely happens overnight. It takes years of…
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When most people think about retirement, the first things that come to mind are usually financial: Will I have enough money? When can I afford to retire? How much should I have saved? Those are important questions. But after working with individuals and families since 1989 as they approach and enter retirement, we’ve learned that…
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Mr. Jones was a self-made man. He was a successful business owner, a loving husband, and a proud father of three sons who had families of their own. Through decades of hard work, he had built a successful business and eventually sold it for $3 million. After the sale, Mr. Jones paid approximately $450,000 in…
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For nearly three decades, most Americans lived in an environment where inflation felt more like a textbook concept than a real-life threat. Prices crept upward, but rarely enough to cause concern. From the early 1990s through 2020, inflation was generally modest, and many people never experienced what sustained increases in the cost of living could…
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Legendary basketball coach John Wooden once said, “It is what we learn after we know it all that counts.” That quote perfectly captures one of the greatest challenges in retirement planning. As human beings, we like to feel respected and knowledgeable—and we really don’t like being wrong. That feeling often grows stronger as we get…
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Have you ever listened to an elite pianist who composes their own music? For years, I was blessed to sit in church on Sundays and experience the magic of one such man, who transformed familiar hymns into something extraordinary. If you’ve ever heard a symphony, concert violinist, or pianist like this, you know the feeling.…
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Over the weekend, I read commentary around a new book by a gentleman named Bill Perkins. The book is called “Die with Zero,” and the premises is just that—you don’t get to take it with you, so you need to enjoy it and attain fulfillment. This fulfillment, Perkins states, may include giving money to your…
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That is the million-dollar question…no pun intended. It sounds like a lot – and it is – but well, it’s not. It is exciting when that life event you’ve been anticipating finally occurs: retirement or selling your ranch or business. It is especially exciting when there is a seven-figure check involved. However, it is important…
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That was a rhetorical question, but for good reason: to get your attention. Only 15% of US households contributed to a traditional or Roth IRA in tax year 2021. 1. This means even less than that contributed to a Roth IRA since this percentage accounts for both types of contributions. You may be aware that…
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Securities offered through Calton & Associates, Inc. member FINRA and SIPC, a Registered Investment Adviser. SEC registration does not imply a certain level of skill or ability. Investment advisory services offered through Smart Money Group, LLC, a Registered Investment Adviser. Smart Money Group, LLC and Kennedy Financial Services are not owned or controlled by Calton & Associates, Inc.