Part of our commitment to our clients is to provide ongoing education and insights related to finances and investing. Visit us here regularly to read about our thoughts and insights related to industry concepts and hot topics. Have something you want to learn more about? Send us a note at [email protected] and we’ll add it to our article list.
YOU SPENT $500 ON WHAT?!?
Helping your children ages 9-14 understand real money and how to be a financial steward
February 28, 2024
Imagine opening your most recent bank statement to find that your 10-year-old spent $500 on Fortnite skins. Surely, (s)he would know this is real money (s)he’s spending, and not an insignificant sum, right? We’ve found that between the ages of 9 to 14 is the perfect time to start transferring financial responsibility in an age-appropriate format. Check out our 4 recommendations on how to do just that.
FOUR PRACTICAL WAYS TO LAY THE FOUNDATION FOR FISCAL RESPONSIBILILTY AT A YOUNG AGE
Financial Planning for Kids Ages 5-8
September 21, 2023
It’s clear through our work with clients that when intentional money conversations happen consistently, children can exhibit fiscal responsibility at an early age. Naturally, everyone wants to see that in their older children when the stakes become higher, but to achieve that by the teenage years, ideally, we should start teaching those lessons at a much younger age. Read on to learn about four ways you can start laying the foundation with 5-8-year-olds.
TO FUND OR NOT TO FUND COLLEGE? THAT’S NOT THE ONLY QUESTION
Other questions to consider when teaching kids about money and why it’s important to outline your philosophies on money as part of those conversations
June 21, 2023
Everyone wants to see their children become young adults who confidently steward the resources and opportunities their parents worked so hard for them to have. In our view, the best way to accomplish that is to start by understanding the moneys scripts you grew up with and the philosophies you believe about money before getting to the “what” and “how” of teaching children. Read on to learn more.
HEADS OR TAILS? WOULD YOU LET A COIN FLIP COST YOU HALF A MILLION DOLLARS?
February 10, 2023
If you knew you had almost a coin flip’s chance of incurring a half a million dollar or more cost in retirement, would you plan for it? Read on to learn more about long-term care and when the right time is to start thinking about it as part of your financial planning journey.
PLANNING FOR MARKET VOLATILITY AS PART OF YOUR INVESTING JOURNEY
Although we may not be able to plan for escaped crocodiles on planes, we can certainly plan for market fluctuations.
December 9, 2022
Similar to how passengers on planes look to flight attendants and their actions for reassurance on whether they’re safe, investors watch the reactions of financial planning experts. Lately it feels like many in the finance world are running to the cockpit rather than remaining calm in the face of market volatility. Bear markets and recessions will inevitably happen multiple times over the course of our lives. Read on for three key takeaways during volatile markets.
FOREST FIRES, AND JACK PINE TREES, AND BEAR MARKETS? OH MY!
A lesson on waiting for the fire to pass when it feels like your money is going up in flames
September 9, 2022
What in the world could forest fires, a Jack Pine tree and bear markets have in common? Like the Jack Pine tree, investors can do a few key things to protect their seeds when it feels like their money is going up in flames (i.e. when we are in a bear market). Learn more here.
A CRASH COURSE ON AVAILABILITY BIAS AND RECOGNIZING HOW IT PLAYS OUT IN FINANCIAL PLANNING
Learn how intuition can fail you, and more importantly, how you can overcome it when making investing decisions
May 26, 2022
We all use availability bias as a mental shortcut in decision making. Whether we’re aware of it and how it might be clouding our judgement are the bigger issues to explore. Availability bias consistently tries to usurp rationality and guide our decisions, which if made incorrectly in the financial planning world, could have real and significant consequences. Read the full article to learn more.
WHY VALUES-BASED FINANCIAL PLANNING DRIVES MORE PROGRESS THAN GOAL SETTING ALONE EVER COULD
March 18, 2022
Over the last five years, the Voyage team has had hundreds of values-based financial planning conversations, and enough time has passed that we’ve been able to gather some insights on how it has impacted our work, and more importantly, the lives of our clients. Check out our five observations on why incorporating values into your financial planning and decision making can significantly change the way you talk about and view money.
PREDICTING A BLACK SWAN EVENT IN THE FINANCE WORLD
It’s kind of like planning a Vikings Super Bowl parade
November 8, 2021
If you’ve watched any financial news lately, you’ve likely seen things like “stocks dangerous” or “stock market crash on the horizon” in headlines. People everywhere are attempting to predict a Black Swan event in the finance world, but to us that seems a bit like planning a parade for a Vikings Super Bowl win. Curious why? Read the full article here.
DON’T JUST DO SOMETHING, STAND THERE!
Why standing still and staying the course makes sense during an inflationary economic period
September 28, 2021
There’s an old saying that goes, “Don’t just do something, stand there!” Of course, that isn’t the phrase.
We’ve all heard the real phrase, “Don’t just stand there, do something!” many times; in emergency situations, at a sporting event, or maybe it was just your parents scolding you for not helping with the chores. It’s hardwired into our brains from an early age that doing something is better than doing nothing. But is it always? Read the full article here.