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Category: Financial Advice

Some tips to reduce spending as we approach the holiday season

by Randy Chalmers on September 30, 2022.

It is finally cooling down, and with the cooler temperatures comes the desire for a nice, hot, beverage. The easiest way to acquire these seemingly magical drinks is to run by the drive-through of your favorite coffee shop. Did you know the average cup of coffee has risen to $4.90?! You don’t have to stop...

People haven’t been this negative about the economy & investing since 2010.

by Dave Conley on September 30, 2022.

Just like we do not know when we are in a recession (until after it has started), the markets begin their recovery in the midst of bad news. It is critical top your wealth to understand this fact: the markets (stocks & bonds) typically reflect where the economy is headed in 3-6 months from today. If you wait for the news to tell you the markets have recovered, the economy has turned around you probably missed out on a good portion of the initial recovery.

Dreams versus Plans

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...

What are you afraid of ?

by Dave Conley on September 23, 2022.

Most of us make the same mistake with our money over and over: We buy high (when the economy and markets are up) out of greed and sell low (when the economy and markets are down) out of fear, despite knowing on an intellectual level that it is a very bad idea.

Should I get out of the market until…

by Dave Conley on September 16, 2022.

Each and every month we get a question that is similar to the statement above. The questions are sincere but based on the assumption that one can invest in the markets painlessly. What I mean by that is I can get marketlike returns when the market is going up, then jump out of the market...

Rising Prices Eating your Money?

by Michelle McEachin on September 15, 2022.

These days, rising food prices have us all wondering how to make ends meet. Even if you have lots of money at the end of your month, you are still probably looking for ways to stretch your dollars?! Right?   I believe the absolute best way to stretch that food budget and get the most bang...

Information about Qualified Tuition Plans (or 529 Plans)

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...

Are you Sinking your Funds?

by Michelle McEachin on September 9, 2022.

Are you sinking your funds?  We talk about budgets a lot around here. We believe that having a budget for your monthly expenses is terrific! But, don’t forget you have some expenses that are not monthly and some that are definitely not regular. Some bills will only come to your mailbox once a year. Bills...

Is it possible to invest your money AND protect your purchasing power?

by Dave Conley on September 9, 2022.

Real long term financial risk is not loss of principal but erosion of purchasing power. To maintain the purchasing power of $100 from 1926 to 2022 you would need $1,674. $100 invested in the S&P 500 in 1926 would be worth $1,066,955 in 2022. These example above illustrates the REALLY long term erosion of purchasing...

I Don’t Want to Lose Money! What Does that Mean?

by Dave Conley on September 1, 2022.

$10,000 is still $10,000 = Capital Preservation $10,000 still buys what it did = Purchasing Power Preservation The distinction is vital to your long-term wealth! Not a month goes by that we do not have a call where someone inquires about investing and includes the phrase, “but I don’t want to lose my money“. The...