Just a few months ago, we were talking about the decline in credit rating of U.S. Treasury debt for the first time and worries of a recession “spreading” to the U.S. from the ongoing crisis in Europe. Its impact was volatile and pronounced, causing 2011 to be a year of flat to negative returns for most stock investors. This caught many off guard, in particular, because things seemed to be going well since the great recession that hit the world’s economies in 2008. It was an excellent reminder of the volatile nature of the financial markets, even when things are moving in the right direction. Read the rest of this entry »
This is a question we get a lot here at Callahan Financial Planning, and with all the recent news and new options, I thought it would be a good topic to revisit.
As a refresher, let’s start with a quick note on what Mutual Funds are:
- An Investment Company that invests shareholders money in a (usually) diversified portfolio of securities like individual stocks or bonds.
- Assets are held in custody at a third-party bank, and are subject to regular inspection by the SEC in addition to any independent auditors to the bank and mutual fund. Read the rest of this entry »
When it comes to personal finance there is one word that makes almost everyone cringe… Budgeting. Most people feel that maintaining a budget means that it will be the end of all of the “fun”. In reality, establishing and following a sound budget does just the opposite. It not only allows you to control your spending, but also is the foundation to achieve the financial goals you truly desire.
Here at Callahan Financial Planning we simply define a budget as providing for your needs within scarcity, which is the limited amount of money available to you. This means living within the amount of money you earn while taking care of your needs. The goal of having a budget isn’t to restrict your spending, but to cover all your necessities and focus any remaining money on what is most important to you. Budgeting forces you to take an in depth look at where your money is currently going and decide if that’s where it should go in order to accomplish your true goals. Read the rest of this entry »
- Do you feel you make good money yet have little to show for it?
- Are you confused about the vast array of investment options?
- Are you unclear about how your current investments are performing?
- Do you and your spouse differ over how to handle your money?
- Are you uncertain if you have the right kinds and amounts of insurance?
- Have you delayed creating an estate plan?
- Do you feel you pay too much in taxes?
- Are you worried about not having enough money to retire?
If you answered ‘yes’ to any of the following questions, there’s a good chance you should consider financial planning. Read the rest of this entry »
This is the last in a four part series designed to explain the ideas behind starting such a unique company and choosing Omaha to call home.
When it comes to finances, most Americans biggest struggle isn’t a lack of ability, but the lack of education to fully understand their situation and the options available to them. I’m sure many of you watch CNBC, read the Wall Street Journal, or frequent another financial news source such as Yahoo & Google finance on a regular basis. These media outlets provide vast amounts of information and it can be very difficult to understand all of the advantages and disadvantages of every idea, theory, or investment vehicle mentions through these channels.
The reality is that education is the foundation of personal financial empowerment. Without the necessary comprehension most feel ill-equipped to make the significant financial decisions we all face today. In order to determine if an investment decision is right for you there are some questions that must first be answered:
- Is this the best course to take in order to reach my financial goals?
- What, if any, are my criteria for making investment decisions?
- What is my current risk tolerance and how will this decision affect it?
- Is this the lowest cost option available or could I save money elsewhere?
- How does this affect my overall financial plan?
These are just a few of the many questions you should answer in order to make the right decision when it comes to your personal finances.
At Callahan Financial Planning, our planners thought what better way to serve our clients and our community than to offer FREE financial classes on the situations most commonly faced by Americans today. These include 1) Giving Yourself a Financial Audit 2) Social Security and Your Retirement 3) Starting Your Financial Plan 4) How to Save for College 5) What to do with your 401(k) and many more…
These are all held in our beautiful state of the art classroom in Midtown Crossing at Turner Park. Our Classes are free to the public, which means anyone is allowed to come get educated from a Professional Financial Planner on relevant topics to their current situation without the worry of a sales pitch. Each course is also followed by a Q & A session that allows you to get answers to any questions you may have or clarify any of the material discussed in the course.
If you aren’t 100% sure you are making the right decisions in your own personal finances and investments, come to one of our free courses or contact one of our Financial Planning Advocates to find out how a Professional Financial Planner can help you today.
This is the third in a 4 part series designed to explain the ideas behind starting such a unique company and choosing Omaha to call home.
Since we opened our offices earlier this year, one of the most common questions we’ve gotten before “Why are you different” is “What do you do”? It’s a question we love to answer, and comes as no surprise with all the perplexity of the financial service industry today.
Contrary to most banks, insurance companies and brokerage who regularly sell specific products, our product is our expertise, wisdom and planning process. We use this capability to address areas such as: Read the rest of this entry »
This is the second in a 4 part series designed to explain the ideas behind starting such a unique company and choosing Omaha to call home.
Last week I wrote about the importance of receiving advice in a fiduciary capacity- putting the client’s best interest first. Today I’d like to focus on the scenarios in this capacity that can save you money.
Without a Sales Commission…When working with a fiduciary that doesn’t earn a sales commission, their only form of compensation is what you pay them directly. There are several ways to pay, but the two most common are paying an hourly rate for service rendered or at an annual rate based on your net worth or investment balances. Because any of these fees are seen directly by clients, there is often the false impression their normally “free” service is no longer.
With a Sales Commission… Read the rest of this entry »