St. Croix Advisors Partnering to Offer Free Consulting to Underserved Communities

ST. CROIX INSIGHTS

St. Croix Advisors Partnering to Offer Free Consulting to Underserved Communities

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

First, St. Croix Advisors is partnering with the Financial Planning Association of Minnesota. Next, Twin Cities Financial Planning Day will be held on Saturday, Oct. 29, from 10 a.m.- 2 p.m. Additionally, it is located at the Wilder Center in St. Paul. Furthermore, please visit the website. Also, any specific questions can be directed to Brett.

For the most part, attendees are in a situation where a financial planner is not practical. Hence, the offering is mainly for those in this type of situation. However, anyone is welcome. Above all, please join us, it really could change your life. Furthermore, these tools will carry you far beyond today. Also, just one step can put you on a whole new path.

 

But why?

Altogether, about 50 financial planners are volunteering their time. By the way, these free services are being offered to underserved communities, young adults, individuals or families. Particularly, we understand that there are many who may not be able to engage a personal financial planner. As a result, this opportunity will benefit all parties.

Above all, personal financial planning is essential, regardless of age or income. Likewise, it is vital to meeting life goals, such as buying a home, paying for college or achieving a secure retirement. To summarize, there are millions of Americans with pressing financial questions that need answers. Unfortunately, many have not had the opportunity to discuss those questions with competent and ethical financial planners.

Besides, everyone strives to achieve financial simplicity no matter their circumstance. Here, we are able to help others in the community who wouldn’t normally reach out for help.

First, Brett Anderson is a Certified Financial Planner® with over 16 years of experience. Second, Brett works with many area business leaders and individuals on their personal investment strategies. Third, he is a graduate of Augsburg College and actively volunteers on the St. Croix Valley Foundation and St. Croix Economic Development Association. Today, Brett is excited to give a run-down of financial planning for many. Additionally, visit financialplanningdays.org/event/twin-cities-financial-planning-day.

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Ask yourself- can my portfolio support my lifestyle in my retirement? 

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Why Do We Take So Long To Retire?

ST. CROIX INSIGHTS

Why Do We Take So Long To Retire?

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

I found myself reading this article about a 30 something who retired early to travel. What a great goal not only to set but also to accomplish. She paid off $100,000 in law school debt with a bonus from her employer, worked her way up to make $360,000 a year, saved $700,000 in a short period of time and “retired” to travel.

While reading this Forbes article, it got me thinking, and rethinking, and I began to ask why does it take so long to retire?

Retirement Planning

3 Reasons People Put Off Retirement

I think it comes down to 3 reasons:

  1. Values
  2. Money
  3. Relevancy

Values – our checkbooks truly show our priorities.

I’d suggest that “retiring” with only $700,000 in your early 30s will not be enough to make a “traditional retirement” enjoyable for my typical client. This assumes a 5% rate of return and living off the interest; a gross income of $35,000 won’t cut it.

I Want Her to Prove me Wrong!

I think we can retire early, yet retiring with only $700,000 just won’t cut it for someone in their 30s. Especially, when you factor in life expectancy. She could live for 50 years. That’s a long time! $700,000 is a nice sum of money, but when you factor in life, I suspect it won’t be enough for the long run.

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Divorce–An Area of Planning Overlooked by Attorney, Financial Planner, Ex-Spouse

ST. CROIX INSIGHTS

Divorce – An Area of Planning Overlooked by your Attorney, Financial Planner, & Ex-Spouse

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

Dr. Seuss once said, “you know you’re in love when you can’t fall asleep because reality is finally better than your dreams.”  I suspect most of you reading this have experienced that in your lifetime. Yet sometimes another reality sets in, where your reality starts to change, and now you’re divorced.Let’s talk about divorce today.

For everyone reading this who is contemplating divorce, let’s talk about the steps you should take or consider before making such a move. Once you get past the money, divorce is not always an easy process, and chances are you’ll still have an ongoing relationship with your ex-spouse. I recently came across a video from Maim Bialy about how she manages the relationship with her ex-spouse. I find it to be down to earth advice and even those who are not divorced can follow and appreciate it.

To learn more about divorce watch this!

Divorce view at Source

St. Croix Advisors, LLC is an investment advisory firm. We seek to help our clients achieve financial simplicity. Before implementing financial ideas, you read, work with a Certified Financial Planner (CFP) or CPA for advice or recommendations that fit your own financial situation. The content is developed from sources believed to be providing accurate information.

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Prince your Advisor’s Advice

ST. CROIX INSIGHTS

Prince your Advisor’s Advice

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

That’s right. Prince their advice. It’s all over the news – how could Prince not have a Will? Why is everyone shocked that he didn’t have a Will? Do you really believe Prince’s advisors never discussed establishing an estate plan with him? I suspect he thought he’d live a long time. We could all use some Advisor’s Advice.

We all ignore advice. We’re all guilty of it. Including me. Do you follow your Financial Advisor’s recommendations and implement them right away? What about advice from your Estate Planning Attorney, Business Attorney, your Physician, or even your spouse? If you’re being honest, I suspect that at some point in your life, you didn’t follow some advice and it bit you in the rear.

Prince Will & Estate Planning

Prince Your Advisor’s Advice before it’s too late.

Yet, I bet we’ve also experienced the opposite of that. Your gut told you otherwise and you were glad you didn’t take that advice someone offered you.

“Sometimes we need an external shakeup or event for us to take those steps we’ve procrastinated on and maybe that is Prince’s final gift to us all.”

It’s funny – not in a “ha ha” way – but in a motivational way. I was talking with a client about an issue he hadn’t addressed for a handful of years and now, finally, his motivation was Prince.

Prince Your Advisor’s Advice before it’s too late.

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Ask yourself- can my portfolio support my lifestyle in my retirement? 

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The Money Tree in our Back Yard has Lost its Leaves. Another Tax Season has Passed – Yet Another Lies Ahead

ST. CROIX INSIGHTS

The Money Tree in our Back Yard has Lost its Leaves. Another Tax Season has Passed – Yet Another Lies Ahead

BY BRETT ANDERSON/ST.CROIX ADVISORS, LLC

When it comes to planning your retirement and the rest of your life, one of the biggest expenses we’ll all contend with in our retirement years is taxes – hands down.  Now, I’m not going down the path to say that we shouldn’t pay any taxes.  Sure in Utopia, that may work, but not here in the United States.

Tax Returns

When I review both my own tax return and my clients’ tax returns and I see how much they pay each year, I’m just astonished at the dollar amounts we pay in taxes. $30,000, $60,000, $100,000, or even more each year. I usually just ask them one question – do you believe you’re receiving the full value from your Government to the extent that you’ve paid in taxes? The typical responses are not surprising – a chuckle, followed by a stern NO.

Money Tree

Understanding Your Financial Goals, Objectives & Position require Financial Planning

I fully understand that we have infrastructure that needs to be maintained, we need to educate our children, protect our citizens, and we truly have fellow Americans that need our help. For that reason, I have no problem helping, and I’m happy paying my fair share.

“I know and can prove that if you pay attention to your money, you actually have more money than you think. ”

When is Enough Enough?

My question is – when is enough enough? When is it time to start holding our elected officials accountable to evaluate the who, what, where, and why of Government spending?  As a business owner, I have to be accountable. Shareholders/investors expect companies they invest in to evaluate their spending every day. And let me tell you, if I don’t make my clients money, I hear about it. So why is it we don’t have these expectations from our Government? Why can’t we expect our Government to have the same accountability that we do? Investors expect a rate of return on their money, so shouldn’t we start expecting a rate of return from our Government?

It just seems that we’ve reached the point in our society where this make believe government (because we’ve forgotten you and I are the government) has an unlimited checkbook, prints all kinds of money (we have $20 Trillion in our National Debt) and apparently has no impact on you and I. But the truth is, one day it will. And as your Financial Planner, I’m here to tell you it will. I hope what happened in Greece stays in Greece.

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