Why Did October Mean So Much To Me?
Sara Faitelson • December 10, 2019
Why the month of October meant so much to me...
As many of you are aware, my mother is a two-time breast cancer survivor. It meant a lot to think about the good times and difficult obstacles she had to overcome. The one issue that never came up was financial issues. How come? Well before this life altering event happened, my family made sure to take a deep dive into finances. I remember as a kid seeing my dad’s friend that sold him his life insurance and disability policies come to the house to do reviews. He always made sure if one parent could not work or passed away, my brother would be taken care of. In my next blog I will talk a little more about having a sibling with special needs and the issues that must be addressed.
My father made sure to never go over the budget. He sat down and showed my mother what the expenses were and how much income came in. I remember at four years old being asked what a check book was for and I said proudly “so daddy could pay the bills.” Everyone laughed but financial literacy was as the forefront of what was taught. I thank my family for those great lessons. In another blog post, I will explain one big mistake he made and how it can change your life. Our life was not perfect, but they helped me see the importance of helping others.
What is the morale of the story?
Do not wait until tragedy strikes before making financial decisions. The earlier the better. Encourage your children who are entering the work force. You cannot take back time.
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Is it Important to have an Emergency Fund Ready even if the Market is Doing Well?
Picking investments should be like picking shoes. What do I mean by that statement?
Can I Use Life Insurance for Only Death Benefit Purposes? Are there Any Other Benefits?
What Kind of Relationship Do you Have with Money? Can it be Improved?
Why am I Always in the Red Zone at the End of Every Month?
Are You Bad at Saving Money?
Should I Worry About Probate?
I am not Married / We Do Not Have Any Children: Who Should We Leave Our Estate to?
Hello blog readers. I hope everyone is safe and healthy. It has been quite a year. Who would have thought we would still be in a pandemic a year and a half later, but here we are. Lately, we have been laughing about what people are calling Covid 15 – gaining 15lbs during this pandemic. I do not know about you, but I am a big fan of pizza, which is why it is easy to become a victim of Covid 15. Most of us cut the pizza pie into 8 -10 slices. Would you ever buy a whole pizza, cut off one slice, and then throw away the rest of the pizza? I doubt it, but that is what many people do when assessing their financial goals. Last week, my business partner and I were sitting with a couple who is in this situation. They have one piece of their financial business with one person and then other pieces with other people. When I asked how their pension works with their retirement plan, they looked at me like I was speaking a different language. No one has ever looked at this piece of the pie and tried to fit it in the rest of the retirement plan. I asked about reviewing the pension booklet and creating a game plan where they can start planning for their retirement date. They said “oh, that’s how you figure out when to retire.” This is a situation that happens more than I can count. Clients have different people doing different things for them, but no one has an end game. Retirement because reactionary rather than proactively assessed. What is the point of this story? The lesson is: “don’t eat one piece of the pizza and throw the rest of the pie in the trash.” If you want to have success, all pieces of the pie must be analyzed, and they must work together to compliment each other. Registered Representative of, and Securities and Investment Advisory services are offered through Hornor, Townsend & Kent, LLC, (HTK), Registered Investment Advisor, Member FINRA/SIPC. (215) 957-7300. Stiletto Financial and other listed entities are unaffiliated with HTK does not provide legal and tax advice. 7585271RG_Jan28
Hello blog readers. I know it has been a few weeks since I have been able to post. It is tax season and it gets crazy here. This time of the year I am usually on the phone or clients reach out every day non-stop. One week we had a waiting list because we received so many calls in a week. Things are finally calming down and I wanted to write about two types of clients I have. Let me start by saying it is not great to go extremes. I want clients to open their statements and ask questions when we do our quarterly reviews. However, I do not want to receive a call if a client looses 17 cents. Having balance will help you be realistic, and you will not make knee jerk reactions. Balance is the key. It is good for people to want to know how their account is doing, what kind of trends advisors, and the tax consequences associated with their decisions. However, a financial advisor is not focused on day trading. We look at money from a long-term perspective and take the emotion out of investing. What do I mean by that? Have you ever gone food shopping on an empty stomach? It is the biggest mistake I have ever made in my life. I ended up buying way too much food that I could never eat by myself. I was hungry and everything looked appetizing and I started to fill up that shopping cart. We can make the same mistake when it comes to investing in the market: buying investments because everyone tells you to and you are always looking for a good tip. What is the moral of the story? Keep track of your accounts, maintain a balanced view, and don’t go food shopping on an empty stomach when it comes to investing. 3473555RH_MAR23