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Make the most of your money

Yeah… Taxes…

Here’s what I’ve been reading this past week or so.

This week, I’ve been reading about the proposed tax changes with the recently released draft of tax legislation from the House Ways and Means Committee. Nothing has been passed, but there are potential impacts for all taxpayers, especially high-income earners, to be aware of should some of the proposals make their way through.

Important to remember. The economy and stock market measure different things and grow/recede at different rates.

How I Invest My Money Edited by Joshua Brown and Brian Portnoy

In this book, 25 financial experts (Chief Investment Officers, venture capitalists, financial advisors) share how they invest their own money. The common theme for the chapters I have read so far is having purpose for their money.

Carl Richard’s illustrated each expert’s chapter. Below is Bob Seawright’s illustration.

I tell clients we can’t get to the “how” – the tactics of where to allocate their money – until we know the “why”. Otherwise, you risk running in the wrong direction of where you want to go. In his chapter, Mr. Seawright said “One’s purposes provide the foundation upon which a financial plan is built. A good financial plan is designed to provide a means and the funding for living out one’s life… on purpose.”

Planning to Retire? Here’s a List of at Least 14 Things to Account For First

This article gives you a good place to start.

100 Tips for a Better Life

Light-hearted article with some good tips! My favorite was #45 “If you’re under 90, try things.”

Kathy Kuo Home’s Lighting 101

Last week I went down the dark hole of light fixtures for our house remodel. I seriously think I have seen every light fixture known to man at this point. Who knew there were so many #$%$ lights??? When you pick one light fixture, it effects all of your other light choices. ? It reminded me of how a financial plan works (because I am a nerd…) When you make choices in one part of your plan, other parts may need to be adjusted. It’s a dynamic process in which all the pieces have to fit.

Unfortunately, there wasn’t an Excel spreadsheet to help me with picking light fixtures! And as with most things I don’t understand, I went researching for the answer. Perhaps a little obsessively. Perhaps. Thank goodness I have amazing interior designers guiding me!

Nice Gifts for Shitty Situations

I loved the title so much that I had to take a peek! And as a person who is never sure where the line between a supportive friend and a suffocating one is, I was curious about the recommendations. Surely, GP will know the answer! Imagine the letdown when I spotted the $185 singing bowl. Not sure what exactly a singing bowl is. But what gift tells a dear friend that you love them, you are there for them, while your heart is also breaking for them? Maybe the singing bowl…

BW Financial LLC dba BW Financial Planning is an Investment Adviser registered with the State of Colorado.

All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication’s conclusions. This communication is for informational purposes only and should not be construed as legal, accounting and/or tax advice. Should you have any questions and/or issues in these areas, please consult your legal, tax and/or accounting adviser.

Behavioral Finance, Investing, Retirement, Tax Planning