How to Protect Yourself and Loved Ones from Financial Fraud

February 4, 2020

Almost every day there is an article in the news about financial fraud. Much of it impacts seniors, like a recent scam involving fraudsters posing as social security representatives. However, we are all at risk, especially if we believe we are too young, too smart and too vigilant to fall for a scam. Sadly, the scam artists are very sophisticated and intelligent too, and are experts at separating people from their money.
That said, much of the financial fraud targets seniors, because our cognitive ability declines as we age and this reduces our ability to handle financial complexity and makes us vulnerable to abuse. Read more

Redwood Grove Wealth Management Joins One Percent for the Planet

January 10, 2020

As part of our certification process as a B Corp last year, Redwood Grove Wealth Management made a commitment to donating one percent of our revenue to charity each year. Historically, we have supported a variety of non-profits focused on causes related to financial literacy and the environment. However, we recently learned about an organization called One Percent for the Planet, that is trying to address the under-allocation of charitable dollars to fight environmental issues. Read more

Why We Are A B Corporation

December 31, 2019

In 2019, Redwood Grove Wealth Management went through and passed the B Corp certification process. B Corp certification is awarded to companies that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy. There are currently more than 3,000 Certified B Corporations in 71 countries. Read more

Why Kids Should Work

December 4, 2019

Most parents try to teach kids the life skills they’ll need to thrive as adults. Some of those skills relate to money and work ethic. Sadly, particularly in affluent communities, children are often sheltered from the responsibilities and realities faced by adults. The percentage of high school-aged kids who work is at an all-time low, declining to 20% in 2013 from 45% in 1998. Read more

A Financial Planner’s Perspective on the FIRE Movement

November 1, 2019

I’ve recently seen a couple members of the FIRE (Financial Independence, Retire Early) community speak on the movement that has gained momentum in recent years. While I admire some of the characteristics of adherents of this movement (e.g., careful spending, aggressive saving), and I’ve learned a few new terms (e.g., geo arbitrage, mega Roth), I’m left with some serious questions and concerns about those who are on this path. As a financial planner, here are a few of my observations: Read more

Looming College Deadlines

October 2, 2019

I’m currently taking a class on college planning, so this topic is top of mind. Additionally, the fall is the time high school seniors apply for colleges and financial aid. As such, it seems a good time to remind people of the various types of deadlines to stay on top of this time of year. Read more

The Allowance Debate

September 6, 2019

It is our responsibility as parents to teach our kids the life skills they’ll need to thrive as adults. Some of the most important skills we can teach them relate to making smart money decisions. One topic that often provokes strong opinions relates to allowance: how much to give, whether to tie it to chores and what it should cover. Read more

Protecting Yourself in the Era of Cyber Fraud

July 31, 2019

In light of yet another data breach this week (of CapitalOne in case you missed it), it seems a good time to review cyber safety. A client recently brought to my attention a type of identity theft that I had not heard of before. It involves a thief stealing your cell phone number and porting it over to a new phone. They then use the dual authentication via text code to hack into your financial accounts to steal money. Given how pervasive dual authentication is for everything these days, I decided to learn a bit more about this particular type of scam. Read more

Making Good Financial Habits Stick

July 1, 2019

I recently saw James Clear, the best-selling author of Atomic Habits, speak at a conference. The premise of his talk and book is that by making small incremental improvements, we can make big changes in our lives. He offers a well-structured system for getting 1% better every day by improving our daily habits. It occurred to me that his system would work well for creating better financial habits as well. There are four steps to building a successful habit (or ending a bad one): Read more

Making Summer Count

June 2, 2019

As the mother of two middle schoolers, at this time of year my thoughts turn to how to keep them busy over the summer. While we have a family vacation planned and they’ll go to a few camps, I also like them to learn something new over the summer. Given my job as a financial planner, that typically involves learning a life skill or two related to money. Here are a few ideas I am considering for this summer. Read more