Financial Planner

The Aging Brain and Decision Making

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shj012417_aging_brain_and_financesRegardless of age, we all have moments when we walk into a room and forget what we were looking for or start a sentence and forget what we were going to say. However, as we get older and these occurrences perhaps become more frequent, it is important to consider how our aging brain may be impacting other areas of our lives.

In 2015, the Center for Retirement Research at Boston College released a report on how a decline in cognitive skills affects financial decision making. The study conducted an annual review of a group of aging individuals’ financial literacy or knowledge, confidence in making financial decisions, and level of responsibility for managing their finances.

The study found that while a decline in cognition lead to a significant decline in financial literacy, it did not reduce individuals’ confidence in their ability to manage their finances. As a result, many individuals maintained primary responsibility over their finances despite a decline in their ability.
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8 Important Times in Life to Talk with Your Financial Planner

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SHJ062016_Sharkey_Howes_Javer_When_to_Meet_Blog_ImageLife moves quickly and big changes often happen in the blink of an eye. As your life circumstances change, it’s important to meet with your financial planner to discuss the potential impact to your financial plan and goals.

Getting Married
Merging two sets of finances together can be difficult. Shortly after you get married, or even before the big day, meet with your financial planner together. They will help you discuss goals, direction for investments and can create a joint financial plan. Combining assets can be much less stressful when you include your financial planner in the process.

Buying or Selling a Home
Your home is likely the largest purchase you will make in your lifetime. When buying, most real estate agents will recommend you talk with your lender to find out what you qualify for, yet the agent and lender rarely consider any of your other financial goals in the equation. On the selling side, the impact of the sale on your overall financial plan is rarely taken into consideration. Since your financial planner understands and is trying to help you achieve all of your long term goals, talking with him/her before buying or selling a home can help you stay on track and avoid mistakes. Continue reading →

The Top 3 Advisors You Need for Optimum Financial Health

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SH&J Top Three Advisors Your Need in Your LifeThroughout the course of our lives we often find ourselves in need of the benefits various advisors provide. In the realm of finances, there are three types of advisors we see as invaluable to your long term financial health.

1. Estate Planning Attorney
A recent Gallup poll found only half of Americans have created a last will and testament (source). Furthermore, estate planning services seem to be a dime a dozen from cheap online solutions to attorneys who draft the same plan for every client.

Estate planning is often misunderstood. It involves much more than paying estate taxes. Estate planning done well allows you to provide guidance to and appoint person(s) of your choosing to make healthcare and financial decisions on your behalf in the event of your incapacitation and may help ensure that your assets are divided amongst heirs as you desire. Building a relationship with a reputable estate planning attorney who understands your unique situation not only makes sense for you, but it also can help offer your loved ones peace of mind that you have a plan in place. Continue reading →

The Value of Objective Financial Planning

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Starkey Howes & Javer Value of Objective Financial PlanningOutside of a portfolio’s rate of return, it’s often easy to overlook the value that objective, client-focused financial planning brings. Although many financial professionals offer “free” services, do you stop and ask yourself “Hmmm, I wonder how he/she is paid if it’s not by me?” (source).

As objective financial planners, we fully support the “you get what you pay for” belief. Below is a list of just a few of the values we believe objective planning offers. Please feel free to let us know your thoughts on any of the following.

1. An independent financial planner helps protect you from financial salespeople.

According to Bob Veres, “…the Wall Street firms that pretend to offer financial planning guidance are seldom (if ever) looking out for the best interests of their customers.” Unfortunately, as a consumer in our industry, it’s not always easy to recognize when there’s an underlying motive or incentive behind the financial advice you receive.

Brokers might have business cards with the title of “Financial Advisor,” but in reality are often simply salespeople who are paid by their company to sell you as many products as possible. Unless they are a fiduciary, they are expected to do what is in the company’s best interest, not what is in your best interest. They are rewarded when they meet sales targets, and bonuses are often based on the clients they sign (source). Continue reading →

Meet Karlton Childress

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Name: Karlton Childress

Title: Shareholder and Certified Financial Planner™

SH&J team member since: September, 2000

 

What do you find most inspiring about being a financial planner?

What I find most inspiring is having the opportunity to help people fully understand and take control of their financial picture so that they can confidently concentrate on other non-financial aspects of their lives and reach their full potential.

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