Financial Planning

Teaching Kids Good Money Habits in an Affluent Community

April is Financial Literacy Month, a time to focus on understanding money matters such as saving, investing, budgeting, income, interest rates, and spending habits. Despite being the wealthiest nation globally, the United States ranks 14th in financial literacy. Only 57% of American adults possess financial literacy, costing them an average of $1,819 annually due to [...]

Mastering Your Legacy: The Importance of Personal Estate Planning

Ensuring your personal estate planning documents are meticulously organized and up to date is a critical component of responsible financial planning. Beyond the practicality of asset distribution, these documents play a pivotal role in alleviating stress and uncertainty for your loved ones during what can be a very challenging time. By proactively addressing key aspects of [...]

Pet Insurance: Why It Might Be Worth Considering

A recent pet emergency that cost Tanya $9,000 caused us to revisit the topic of pet insurance. As devoted companions, pets bring immeasurable joy and love into our lives. Ensuring their well-being involves not only affectionate care but also thoughtful consideration of their health needs. The average annual cost of dog ownership is $1,270 to $2,800 [...]

State of the Firm

2023 has been another successful year for Redwood Grove Wealth Management (RGWM). As the new year begins, we’d like to extend our gratitude to our clients, family, and friends for their ongoing trust and support. We consider ourselves fortunate to engage in fulfilling work with clients who are a pleasure to work with. Wrapping up [...]

Redwood Grove Wealth Management LLC (RGWM) Recertified as a B Corp

RGWM is pleased to announce that it recently passed recertification as a B Corp. The firm first became a B Corp in 2019 and is subject to recertification every three years. Our score improved from 81.9 in 2019 to 105.9. RGWM’s score was achieved by answering 186 questions related to Governance, Community, Workers, Environment and [...]

Seizing the Open Enrollment Opportunity

Fall is open enrollment time at most companies. Employees are confronted with many choices that hold sway over their health, finances, and overall well-being. This time allows employees to assess new benefit options while considering whether their current selections align with their evolving life circumstances. Since employees typically have only one chance a year to [...]

What’s Happening with California Property Insurance?

State Farm and Allstate, two of the largest property insurers in California, recently made headlines by announcing their decision to stop selling new home insurance policies in California. This move has raised concerns about new homeowners’ ability to obtain property insurance and existing policies being canceled, especially in disaster-prone areas. […]

Here We Go Again: Debt Ceiling Brinkmanship

With frustrating regularity, the two largest political parties have again been haggling over a debt ceiling increase. In the hyper-polarized environment we find ourselves in, politicians are again using this routine financial maneuver to extort concessions from the other party in exchange for agreeing to raise the debt limit. While it might seem like disaster is approaching, we’ve been here [...]

The SECURE 2.0 Act Creates New 529 Planning Opportunity

Over the past few years, significant changes have been made to the U.S. tax code regarding retirement planning. One of the most recent and impactful changes is the passing of the 2022 SECURE Act 2.0, which contains many provisions that will affect savers, including a modification to 529 accounts. […]

Financially Empowered Women

As we celebrate Women’s History Month and International Women’s Day in March, it seems appropriate to reflect on the progress women have made over the past century in the US, but to also acknowledge that work remains to be done on the journey to the financial empowerment of women.  […]