Winning the Lottery: What Should You Do?!!

MillionairesDo you daydream of winning the lottery? Even as a Daily Money Manager, I too fantasize about winning the big jackpot. Sometimes money can make people crazy… whether it’s an inheritance, unexpected windfall, or something like winning lotto. So here’s my advice.

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7 Habits of the Financially Stable

10 and the US TreasuryThe San Francisco Bay Area is booming! Unemployment is at an all-time low. Our freeways and expressways are jammed with commuters. In times like these — where recession concerns are on the backburner — I’ve been musing about money habits. In the spirit of the 7 Habits of Highlight Effective People, I’ve come up with my own 7 Habits of the Financially Savvy.

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Vacation & Money Management

Las-VegasSchools out and Summer is here! Many of my clients are planning their vacations. Concerns about how they’ll manage their bills and overall money management concerns often arise. Before you pack that suitcase, here are a few things you can do to make your next vacation a financial-worry-free zone.

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The Savings Phenomenon

Attack-of-the-Piggy-BanksThe U.S. savings rate hovers just about 5%. This statistic reflects the ratio of personal income saved to personal disposable income during a certain period of time. I guess the good news is that it’s a positive number and it’s double of the rate reported back in 2008, the deepest part of The Great Recession. If you look at the savings rate over the last six decades, you’ll see a shocking downward trend. Back in the 60’s and 70’s Americans were saving nearly 10% of their disposable income. Now 62% of Americans have less than $1,000 in their savings account. So what gives?

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Millennials & Relationship with Money

Money Bankroll: Millennials Attitude Toward Money?According to a study by Forbes and Elite Daily, Millennials are coming into their own. This demographic comprises 80 Million Americans, a fourth of our entire population. They wield $200 billion in annual buying power. Many of my clients fall into this group and I find they embody many characteristics that I admire. It got me thinking about this generation — dubbed the Me Me Me Generation and the Next Greatest Generation — and their habits and attitude about money.  My research led me to have an interesting conversation with my 21-year old son.

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Managing Credit Utilization

What’s Real and What’s Not

Hot credit: credit utilization gone overboard?Here in Silicon Valley things are booming. Our economy is experiencing growth. Home prices are surpassing historical records and the unemployment rate is low. You can see the frenetic energy every day — clogged freeways and expressways during our daily commutes and workers spending long hours tied to their desks.

With our economic upswing, are we using our financial success to pay down debt and use our credit wisely?

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Do You Need Cyber Insurance?

Proud-LockA lot of my client work involves working with online banking apps and managing financial reports that I share electronically with other professionals like CPAs, financial advisors and estate attorneys. I’m a stickler for security and was curious about cyber insurance and if it was something my clients should have.

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Your Life, Your Digital Assets

A Night on the TilesWith the explosive use of technology in the last twenty years, how we manage our lives has dramatically changed. When taking stock of their finances, my clients are often surprised at how scattered and complicated their digital assets can be. Continue reading

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What’s the Difference between a Daily Money Manager & Fiduciary?

MoneyAs a daily money manager I get that question a lot. Both provide important financial-related services to their clients. Both have professional distinctions. Both hold positions of trust. So what’s the difference? I’ll happily explain the differences as well as the circumstances when we work together.
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Technology Scams Targeted at Seniors

Online FraudA computer connected to the Internet can be a lifeline for seniors. It’s a way to stay connected to their families as well as their finances. Unfortunately seniors are often targets for scam artists hoping to prey on their ignorance in managing their technology.  I recently helped a client clean up the mess following a tech support incident. Hopefully the lessons we learned can help you or a loved one avoid falling victim to this type of scheme.

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