by Randy Chalmers on September 23, 2022.
Have you ever heard someone say something to the effect of “a dream is only a dream until you write it down, then it becomes a goal”? This concept examines how we view seemingly impossible things, like getting our “dream” job, living in the “dream” town, climbing Mount Everest, or completing a marathon. You wouldn’t...
by Randy Chalmers on September 16, 2022.
There should be no shock to you when I state that 2022 has been a tumultuous year for the stock market. Seemingly everything that could happen to negatively affect the market, has. The lingering pandemic, inflation, monetary policy tightening by the Federal Reserve, Russia invading Ukraine, investor panic, and the cyclical mid-term election impact….? Mid-term...
by Randy Chalmers on September 9, 2022.
South Carolina taxpayers can deduct 100% of their contributions on their state tax returns (one of only four states that offer 100% of contributions to be claimed). There are two types of 529 plans: prepaid tuition plans and education savings plans. Prepaid Tuition Plans allow the account holder to purchase credits for future use at...
by Randy Chalmers on September 1, 2022.
Recently my 5-year-old son asked my wife and me why he had to turn off the lights when he was not using them. We explained that it costs money to operate the lights, and he was astonished, “we even have to pay for that!!??” We realized then that we have a lot to teach him...
by Randy Chalmers on August 26, 2022.
By now, you have most likely heard about the announced three-part plan to help working and middle-class federal student loan borrowers. Are you confused by the myriad of information you’ve seen? Then let’s go over some details. The Facts on the three-part plan: The loan repayment pause has been extended until 31 December 2022, this...
by Randy Chalmers on August 19, 2022.
Do you budget? Do you stick to that budget? Are you constantly over-spending, under-saving, and using your credit card to cover expenses, leaving you with less money for next month? You might need to review Dave Ramsey’s budgeting tips! 1. Write down your income 2. List your expenses 3. Subtract expenses from income to equal...
by Randy Chalmers on August 12, 2022.
Dave Ramsey’s third Baby Step is to fully fund an emergency fund to cover your family for a three to six-month period. Have you completed this step? If so, have you paid any mind to that account since funding completion? We often get calls asking if clients should invest their emergency funds, in short, no,...
by Randy Chalmers on August 5, 2022.
This is a very common question among those contemplating starting their investment journey. They wonder if their $20 a week would amount to anything and if they should wait until they can invest $50 or $100 a week. Let’s look at the numbers. The minimum investment required for a balanced fund is as little as...
by Randy Chalmers on August 1, 2022.
Everyone begins their investment journey at different stages in life, however, we can all agree that the sooner you start, the better your portfolio will be in 10, 20, or even 30 years. This equates to a better life in retirement. But why invest now, when the market is down so much, and there could...