Is the Federal Government Going Broke?

August 6, 2020

The federal government has already poured $3T into the economy to soften the economic pain caused by the coronavirus. It is currently debating sending another $1T to $3T into the economy to deal with the prolonged nature of the downturn. You might be worrying about the impacts on current and future generations of this high level of spending. After all, how is the government going to pay for it all? Doesn’t the federal government have to balance its budget eventually? Sadly, there are several pervasive myths related to the federal government’s deficit that lead to misunderstanding and confusion. Here are a few of the more common ones: Read more

Top 3 Personal Finance Tips for Graduating Seniors

June 3, 2020

I was asked to share my top 3 personal finance tips with a class of local high school seniors. There are so many smart money habits new adults need. Where to start? I tried to focus on the ones that would set these newly minted adults off on the right path. Here’s what I came up with: Read more

Financial Literacy in the Time of Coronavirus

May 1, 2020

April was the 20th anniversary of Financial Literacy Month in the US. This year, the movement was overshadowed by the global coronavirus pandemic and has many wondering if financial literacy matters in the current environment. It matters more than ever! A new survey from the National Endowment for Financial Education (NEFE) finds that nearly nine in 10 (88 percent) Americans say the COVID-19 crisis is causing stress on their personal finances. Read more

Deconstructing the Stimulus Plan

April 2, 2020

On Friday, March 27th Congress and the President signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, an unprecedented stimulus package worth $2T to address the economic impacts of COVID-19. Here are some of the aspects of the plan that might impact you. Read more

Coronavirus and Your Portfolio

March 1, 2020

As news of the coronavirus stokes fear and uncertainty on a variety of fronts, it is only natural to wonder if you should do something to your portfolio to account for the news. In most cases, the answer is a resounding NO! Here’s why. Read more

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