Scott Kahan’s Financial Road Trip: When it comes to mapping out your financial future you don’t want to be singing, “Do you know the way to San Jose” on the street corner. Scott Kahan, Certified Financial Planner and President of Financial Asset Management Corp.
Scott Kahan, CFP®, President of Financial Asset Management Corporation, explains why his company prefers the holistic approach to financial planning and shares his opinion on the different fee models in the industry, including the reason why he switched to the retainer model.
The average individual only views financial planning through the lens of retirement. In reality, financial planning can help you meet a variety of monetary goals, not just your desire to live a comfortable life during retirement. Make no mistake, it is important to save for those years, but financial planning has the power to unlock more potential in your life as well.
The average individual undoubtedly understands that there is a difference between saving and investing, even if those terms are sometimes used interchangeably. The key to taking advantage of saving and investing is understanding the difference between them. In short, saving and investing differ in terms of risk and liquidity.
College is a necessary, but expensive, endeavor in the life of any young American citizen. Higher education helps propel individuals into economically stable and rewarding careers. However, Forbes points out that the nation's nearly $1.2 trillion in student loan debt is crippling students, their families, and the economy.
If you want to get a handle on your finances and change your ways, you first need to identify your bad financial habits. It may seem obvious, but until you identify what you are doing wrong, you will not be able to make changes to improve your financial situation.
Founded with the mission to guide and inspire clients to fulfill their lifetime financial goals, the team members of Financial Asset Management Corporation (FAM) celebrate their 30th anniversary of doing exactly that.
Given the opportunity, most individuals employed in the workforce today would begin saving while they are gainfully employed. Far too often though, the lure of big TVs, new cars, and family vacations force many to choose between saving and enjoying life. Roughly 58% of Americans 55 and older have less than $100,000 saved for retirement, and only 19% have $250,000 or more.
Today people use a variety of apps and tools to help themselves get organized for just about anything. There are apps that allow you to track your health and strive toward fitness goals, and others to help you keep the grocery shopping list in check. The most common calendar apps help you track meetings, appointments, and upcoming vacations.
Numerous surveys and studies have found that money is the leading cause of stress for Americans. Given that money is a key component of establishing a secure life, it makes sense that financial challenges are associated with rising stress levels. However, it doesn’t have to be that way, and it shouldn’t.