By Nick Maratta, MBA, CFP®, FBS®
and Brad Klontz, Psy.D., CFP®
By Nick Maratta, MBA, CFP®
Occidental Asset Management, LLC (Your Mental Wealth Advisors™) has been named one of the top 11 Financial Advisor & Wealth Management Firms in Florida. To read the full review/article click here: https://www.advisoryhq.com/articles/best-financial-advisors-in-florida/#Occidental-Asset-Management-Review
by Bradley T. Klontz, Psy.D., CFP®
Associate Professor of Practice in Financial Psychology
Creighton University Heider College of Business
The tax code, with all of its hundreds of pages of regulations, stipulations, and loopholes always leave something be learned. Not only is the U.S. Internal Revenue Code massive, different write-offs and deductions occur at different stages in life, so it’s unsurprising if you don’t know the details of the IRA (Individual Retirement Account) charitable rollover.
We like to think that we are logical, rational beings. We want to believe that we weigh the pros and cons of each decision and choose the most effective course of action before we act. However, when it comes to money, our brains haven't evolved much beyond those of our furry animal friends.
We all love to give. It feels great to give to others, whether it is your favorite charity, or as a demonstration of love and support of friends and family members. However, just like any expense, giving should be budgeted, tracked, and done with intention.
A recent survey indicates that an increasing number of high net worth investors are willing to pay for solid, unbiased, fee-only investment advice and financial planning, which is not surprising considering the challenges of today’s markets and economic environment.
Don't waste any more time stumbling through life
It’s important to have a purpose. I have seen lives filled with loneliness and despair when no specific purpose has been embraced. On the other hand, I have seen drastic improvements in psychological well-being when people have identified a meaningful purpose.
Do you keep money secrets from your partner? Do you spend money without your partner’s knowledge? Do you hide purchases? Do you tell your partner you spent less on something than you actually did? Do you have secret stashes of money that your partner knows nothing about?