Picture this: you’ve just been paid, and before the weekend is over, your paycheck feels like it’s already gone. Credit card bills, car payments, subscriptions, eating out — it can feel like you’re working just to stay afloat. For many, this is where the journey toward debt-free living begins: with the realization that something has…
Captain’s Log A Smart Move at Age 59½ Did you know that once you turn 59½, most retirement plans allow you to take what’s called an in-service distribution? In plain terms, this means you can roll money out of your employer’s plan and into an IRA—without leaving your job. Why does this matter? Proactive Management:…
College is one of the biggest milestones for many students and their families and one of the biggest expenses, too. With tuition costs climbing every year, it is easy to worry about how to pay for it all. Many graduates leave school with debt that takes years, even decades, to pay off. The good news?…
Captain’s Log Start Investing Your Excess Savings Begin investing your excess savings—cash, CDs, and money markets—that exceed your 3–6 months of living expenses and any large purchases you anticipate over the next 12 months. For example, if your monthly expenses are $5,000, you should have between $15,000 and $30,000 in your emergency fund. In addition,…
When it comes to retirement, Social Security is one of the biggest pieces of the puzzle—but it’s also one of the most misunderstood. You’ve likely heard a mix of advice from friends, family, or headlines: “Claim as early as you can,” “Wait until you’re 70,” “Take the money before it runs out.” With so many…
Caps are flying, cameras are flashing—and just like that, your student is stepping into a whole new world. Whether they’re packing for a dorm or prepping for their first full-time job, graduation isn’t just a celebration; it’s a launchpad. This is the perfect time to start real-world money conversations. Here are some key financial topics…
Let’s face it: life doesn’t follow the same script for everyone. Some people want a house full of kids; others dream of early retirement and world travel. Some are supporting aging parents, while others are figuring out how to pay off student loans or start a business. And that’s exactly why your financial plan should…
Captain’s Log The Hidden Cost of Cash: How Inflation Erodes Your Purchasing Power At Anchor Wealth, we encourage our clients to maintain cash savings at their banks for emergency funds, sinking funds, and large expenses expected within the next 12 months. Recommended Cash Allocations: Emergency Fund – Maintain 3 to 6 months of living expenses.…
February Captain’s Log The Benefits of Advisors Understanding the Purpose of Your Money Understanding the purpose of a client’s money offers two key benefits: 1. Personalized Financial Planning – By understanding a client’s goals and values, advisors can create tailored financial plans that align with their priorities and aspirations. 2. Enhanced Client Relationships – A…
So, you’ve found your person—the one you want to build a life with. Congrats! But before you say “I do,” there’s one important (and slightly unromantic) topic to cover: money. The “financial talk” might not give you butterflies, but it’s the secret to a stress-free, happy future together. Here’s how to make it simple and…