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Category: Financial Planning

Estate Planning: Why It Matters and Which Option is Best for You

Estate Planning: Why It Matters and Which Option is Best for You

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Estate planning is the process of arranging for the distribution of one’s assets and affairs after death. It’s an essential part of financial planning, as it ensures that one’s estate will be distributed according to their wishes and can help avoid conflicts and legal battles among heirs. In this post, we’ll explore the importance of estate planning, the main options available, the differences between a will and a revocable living trust, and the circumstances in which one might consider using one over the other.

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Helping My Parents Downsize: From Stressful Talks to Successful Results

Helping My Parents Downsize: From Stressful Talks to Successful Results

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empty apartment with packed carton boxes before moving

Time does not fly by, especially in the middle of the COVID-19 pandemic. Probably, at this time last year, we all thought we’d be out of the woods but here we are. It is almost the end of August of 2021 and we are seeing a rise in restrictions with the Delta variant. Face mask mandates are still on and I’m back to full-time work from home. No complaints on my part but hey, not all news is bad news.

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Why We Decided to Refinance Our Mortgage

Why We Decided to Refinance Our Mortgage

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Refinancing

We recently finished the process of refinancing the mortgage on our home. Initially, we thought the effort would not be worth it; however, after setting refi goals, getting in touch with lenders, and running the numbers we couldn’t pass on this opportunity. In the end, we were able to lower our rate by 0.625% and realize a decrease in our monthly mortgage payment of 21%.

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Over-Optimization … Time for an Intervention?

Over-Optimization … Time for an Intervention?

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As an engineer, I love to get data, analyze it, create models and based on my findings support decisions that influence the bottom line. This is all great; however, we usually get carried away and move into execution mode without spending the right amount of time defining and understanding the problem statement. As a result, time is wasted and lack of decisions lead to an overarching feeling of frustration.

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Playing Offense & Defense in Personal Finance

Playing Offense & Defense in Personal Finance

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offense-defense

I love sports, everything about them fascinates me. From developing a strategy, defining clear roles and responsibilities all the way to creating an environment of trust and team camaraderie … the list goes on and on. But what about analogies someone could derive from sports? Aren’t these endless?. …

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Plans for 2018: No Goals, No F* Glory

Plans for 2018: No Goals, No F* Glory

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Goals

First I would like to share two magical words: AWESOME BREAK!. I was able to completely disconnect myself from not only my full-time job but also this blog. I was very much in need of some alone time with the family during our favorite time of the year.

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As Thanksgiving Approaches Think About This

As Thanksgiving Approaches Think About This

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Time and money

Thanksgiving is that time of the year where people get together to be grateful. Personally, I got a lot of things to be thankful for: a healthy family, friends, work, and having the opportunity to wake up to enjoy a new day. But as Thanksgiving approaches think about this …why should we be thankful for just one day during the year? why not be thankful every single day? Probably we tend to take things for granted but I consider every day as a gift. As such we should be respectful of the time we are being given and be thankful for it.

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My Financial Money Map

My Financial Money Map

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Money Map

A couple of months ago I came across a great post by budget on a stick where he introduced the concept of a Money Map. He defines it as a “chart that shows you where all your money is coming in and going out“. In theory, this should be super simple but it will ultimately depend on your understanding of how your money flows through the various buckets you’ve created as part of your financial strategy.

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