Financial Planning Advice for Beginners

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Financial Planning Advice for Beginners

How Big Should My Emergency Fund Be?

by Michael Reynolds, Elevation Financial LLC

Not a flashy topic, but it’s an important and interesting one.

Emergency funds are a financial safety net for unexpected emergencies or expenses. They may be used if you suddenly have no income for an extended period of time or if you have larger expenses you have not been planning for like suddenly needing a new car or refrigerator.

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5 Steps to Get Your Financial Life in Order

by Jeremy Eppley, Silverstone Financial

Say you have $1,000 left over from your paycheck each month after paying all your bills; what should you do with it? 

As you may remember from elementary school math, PEMDAS is math’s order of operations: Parentheses, Exponents, Multiplication, Division, Addition, Subtraction.

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How to do a Backdoor Roth IRA Conversion

by Robert Stoll, Financial Design Studio, Inc.

People and families with high income often feel like they’re not able to save enough for retirement. Maxing out one’s 401(k) is a great start, but how do you save money beyond that? And due to income limits, you may not be able to contribute directly into a Roth IRA.  Is there still a way to save money into a Roth IRA even if your income exceeds the thresholds? The answer is YES, through a Backdoor Roth IRA Contribution. This post will walk you through the benefits of saving money into a Roth IRA, and how to do a Backdoor Roth IRA Contribution.

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What Are Money Scripts (And What’s Yours)?

by Craig Toberman, Toberman Wealth

Money scripts uncover your personal narrative, attitude, and beliefs about money. 

These beliefs can powerfully impact your habits and behaviors and directly affect your financial health. By not understanding your money scripts, you unknowingly leave gaps in your financial journey that could lead to problems down the line.

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Common Financial Mistakes

by David Barfield, Datapoint Financial Planning

As a flat fee financial planner, I tend to work with younger clients who haven’t yet built up enough investable assets to land on the radar of the “1% of assets” advisory firms.  I have a passion for teaching younger tech professionals and business owners good financial habits.  Here are some of the most common financial mistakes I see my Millennial and Gen Z clients make.  Avoid these, and you’ll be ahead of most of your peers.

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Don’t Lock Up Your Assets And Throw Away The Key: Why Liquidity Matters

by Craig Toberman, Toberman Wealth

When it comes to your long-term financial and estate planning needs, liquidity is critical.

Some people have too much money tied up in illiquid real estate, private equity, business entities, etc., or they just don’t “trust” the stock market. These practices present significant financial roadblocks.

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Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.



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