Blog

The Wardrobe Malfunction

Wendy will correctly tell me that one of my biggest weaknesses is standard household chores. As such, she tries to make them as easy as possible for me, but she has learned that this is not a guarantee of successful execution.

 

A past example happened when her dad was visiting us. Wendy wasn’t home at the time and had texted me to please take out the trash. She would typically leave the trash bag at the top of the stairs, with the very simple request to put it into the bin downstairs for trash pickup.

 

I wanted this instance to be a flawless execution (particularly since today was trash pickup day)! I rushed from my office to the top of the stairs as soon as I got the text. There waiting for me was the trash bag. I quickly picked it up, ran it downstairs, put the bag into the bin and then took the bin to the curb for pickup. The bag felt a little different than normal, but I didn’t think anything of it.

 

When I got back to my home office, I was so happy with myself. That was the smoothest transition from trash bag to bin to pickup that I had ever been a part of.

A cleansing hot shower or bath

Later that afternoon, my father-in-law came up to me with a look of concern. He had asked me if I had seen any of his clothing. He could have sworn that he left his clothing at the top of the stairs for Wendy to wash. Gosh, my heart just sunk when I remembered that he always brought his clothing over to our house in a trash bag. Now his entire wardrobe was probably making its way to a landfill or a waste facility.

 

Wendy was furious with me later that evening. She asked why I hadn’t looked in our trash baskets under our sink. That is where the bags were. Furthermore, she was baffled as to how I couldn’t tell that the trash bag was full of clothing and not trash?

 

We had to go out and buy my father-in-law a new wardrobe. I was so excited about achieving an easy victory that I had failed by not paying attention and ignoring an obvious red flag.

 

When planning our finances, many of us tend to “coast” sometimes. Our assumption is that if we continue to do the same things the same way, we will always get the same outcome. That often doesn’t work in financial planning where the world is regularly changing around us.

Setting the mood with incense

Is the makeup of your estate and the individuals you want to inherit your assets the same as it was 10 years ago? Is your investment allocation the same year to year or has it shifted due to market movements? Does it make sense to follow the same investment strategy when you decide to retire at 65 years of age as you did when you were 30? Would you say that your tax bracket is exactly where it was 10 years ago and that the type of long and short-term tax mitigation strategies you need to follow are the same? Tax law is changing constantly!

 

Coasting can make financial planning feel just as simple as taking out the trash. In most cases, it works and nothing bad happens. However, without a periodic and thorough review of your current circumstances, you will miss important changes and potential red flags that can pose longer-term financial challenges.


Our motto is “we can help you with that.” We will collaborate with you on any financial decision you make, engaging other subject matter experts when necessary. We will not stop until we get things right. We encourage you to reach out to us for assistance in making important financial decisions and we always appreciate you recommending us to others.

Setting the mood with incense

by Hetmayar

Viral dreamcatcher keytar typewriter, aesthetic offal umami. Aesthetic polaroid pug pitchfork post-ironic.

In Loving Memory of Larry Wendell Cole
August 13th, 1940 – June 2nd, 2024
589440-1

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium.

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum. Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium.

Related Tags
  • Business Advice
  • Client Stories
  • Comprehensive Financial Planning
Social Share

Related Posts

The Value of 100,000

Wendy and I were on a trip to visit a client family reunion in South Georgia. Since there was goi

A Financial Advisor vs an Investment Advisor

I often hear from folks that financial advisors are a commodity. They say you will get the same s

Subscribe to our Blog


    Search Blog

    Hourly Consulting

    Hourly consulting is available for specific issues – $400.00 per hour. This is appropriate for guidance with regard to one particular element or question regarding estate planning or investing.

    Retirement Plan Consulting is also available on an hourly fee basis.

    All investing involves risk including loss of principal. No strategy assures success or protects against loss. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk.

    Comprehensive Financial Planning

    Pricing Starting At: Singles $3500* | Couples $5000* | Business Owners $6500*

    Financial Consulting includes the following services:

    • 12 months of access to our team
    • Comprehensive Data Gathering
    • 2-3* Scheduled Formal Meetings During the Year
    • Review of your financial situation – goals, objectives, risk tolerance, risk capacity, time horizon, and restrictions
    • Planning for Peace of Mind
    • Financial Organization and Household Balance Sheet
    • Cash Flow Planning
    • Trust & Estate Planning
    • Tax Planning and Tax Return Review
    • Stock Option/Restricted Stock Planning
    • Charitable Giving Planning
    • Insurance Planning
    • Retirement Income Planning
    • Social Security Planning
    • Employer Sponsored Retirement Plan Recommendations
    • Basic Asset Allocation Recommendation
    • Business Planning
    • Education Planning

    *Depending on complexity

    **Client administers investment changes

    Financial Planning and Wealth Management

    Comprehensive Financial Planning included with managed assets above 750k. Financial Planning is an additional cost if less than 750k.

    The following cost schedule applies for personalized financial planning services & wealth management relationships:

    Aggregate Market Value Investment Management Costs
    $3,000,000 + .70% Annually
    $2,000,000 to $3,000,000 .80% Annually
    $1,000,000 to $2,000,000 .90% Annually
    $750,000 to $1,000,000 1% Annually*
    $500,000 to $750,000 1.25% Annually*

    Annual costs include the following services:

    • Review of financial situation – goals, objectives, risk tolerance, time horizon, and restrictions
    • Planning for Peace of Mind and Future Goals
    • Financial Organization and Household Balance Sheet
    • Cash Flow Planning
    • Trust & Estate Planning
    • Intergenerational Wealth Planning
    • Tax Planning
    • Stock Option/Restricted Stock Planning
    • Charitable Giving Planning
    • Insurance Planning
    • Retirement Income Planning
    • Social Security Planning
    • Investment Optimization and Ongoing Monitoring
    • Defined Contribution Asset Allocation (401(k) or Retirement Plan) – Current Employment
    • Education Planning
    • Business Planning
    • Monthly Statements and Quarterly Performance Statements
    • Online Access to Your Portfolio

    *Client pays all trading costs on accounts.