For years, my wife and I have been avid cooks. We have thoroughly enjoyed the process of menu planning, ingredient selection, prepping and of course the actual cook. But the most satisfying component for us is not the meal or necessarily the result; it is the ability to take a recipe and make it our own.  We have learned that while 22 ingredients is fun and challenging, our favorite and most successful recipes focus on quality ingredients and letting the natural flavors complement each other. A nice bottle of wine never hurts either!

When you look at the process of investing and the process of cooking, you start to see several similarities.

Without a doubt, you're hearing about the SECURE Act 2.0. It seems like every day there's a new headline in the news, which only serves to create a lot of questions. Let's face it, headlines - and even the stories that follow - can leave you wondering how the new legislation applies to you.

And that's OK. I'm here to guide you through the changes so we can make adjustments as necessary and keep your long-term financial plan on track.

I believe the Assets Under Management (AUM) fee model is outdated, if not broken. The foundation for the AUM model is the mutual fund industry. Before the advances of technology eliminated the exclusivity of Wall Street to a select few, most clients needed the benefits of a pooled investment. When advisory firms built their pricing models, they followed the same blueprint. Over the last 5 years specifically, there has been a race to zero for trading commissions. Unfortunately, the advice industry has been extremely slow to follow as their revenues are dependent on fees exclusively.

In our client meetings, the term “wealth” is often tossed around somewhat loosely. We talk about building wealth, managing wealth, enhancing wealth, and preserving wealth as if the concepts are universally understood. But what exactly is wealth? It’s such a vague term that every person has a slightly different meaning. That’s why we need to start with some deep introspection about what having wealth really means.

Retirement can sneak up on you.

While it seemed like a lifetime away at one point, it now may feel like retirement is just around the corner. Maybe at one point, you wanted to work forever, but now you’re ready to walk out of your workplace for good. Or maybe you’ve started daydreaming about a little cabin on a lake. You may have even entertained the idea of starting that business you’ve always imagined but could never commit to because of your career. But if you’re in your 50s and have little saved for retirement, it may feel like these dreams will only ever be dreams.

You may have heard investors say that a clear investment philosophy is essential to pursuing long-term financial success. And while investment strategy is important, it’s nothing more than a manifestation of an investment philosophy. Strategies can evolve as life changes, but philosophies are the core beliefs, principles, and practices that guide your decision-making. In times of market uncertainty, a philosophy may enable you to control your emotions, shut out the noise, and bring your focus back to your long-term goals.

Saving enough for retirement while carrying and paying off debts can be an uphill battle. For some pre-retirees, debt repayment is the primary focus over savings, leading them to delay or reduce their retirement lifestyle. But if you’ve been struggling to save, It’s never too late (or early) to take steps to encourage you to get back on track.