Alec Falkenberg - WealthWave

03/14/2024

Check out some of these statistics on why financial literacy is so important from young to old..

America's financial understanding is faltering, and the implications are concerning. It's true that many people harbor the desire to manage their finances effectively. Still, the disturbing statistics paint a picture of a nation struggling with basic financial concepts and skills.

03/12/2024

We are currently seeing 10,000+ people turning 65 every single day, and this high volume is expected for another 5-7 years.

Why is this relevant? Every person I have ever met with have expressed that they want to have a "work optional lifestyle", yet, few of them have a plan on HOW to get there.

For those that desire to retire or pull back in the next 5-7 years, NOW is when you need to begin planning for that. You do not want to get to the finish line and find out that you didn't save enough.

Need help understanding what income will look like or how you want to experience your "golden years", now is when you should begin that discussion.

03/01/2024

The way we think will massively determine our outcome. Much of what I do with clients is help them reshape their thoughts and emotions about money, which surprises many people.

See these 2 quotes below. One person thinks, "I need to keep my money safe" while the other thinks, "My money should work as hard as I do".

There is a time and place for those two trains of thought, no doubt. However, if all factors are the same, except for this thought, their intended finish lines will be completely different.

These quotes can be summarized by viewing things from Scarcity vs Abundance mindsets.

If you aren't familiar with these, or how they impact your finances, let's unpack them!

02/27/2024

A topic of focus I have had with clients recently is where our day-to-day finances and spending is going. We generally know our annual income, we sometimes know our monthly bills... but people rarely recognize how much money they are blindly spending on a daily basis.

That ONE cup of coffee from (insert coffee store here) might be $5 today, but if you are going everyday, that's $150/month+. Is that worth it, or would you easily be able to save $100 by making it at home, and treating yourself to one coffee/week?

Pick your category, but I am willing to bet you will discover somewhere in your monthly spending a place where you can easily free up money.

02/02/2024

We are already in month 2 of 2024… is your financial plan in order?

Do you know EXACTLY what you’re working towards and striving to accomplish this year?

Does your plan cover the “what ifs” that might come this year?

Are you still stressing about money, without a clear direction?

Let me know how I can create a clear path ahead so that you achieve your goals and put worry and stress behind you.

01/16/2024

As we get into 2024 I have a large desire to serve new families and bring hope and encouragement to those that are feeling discouraged about their finances.

As I have said in the past, I continue to have a heart for serving Nurses and those in the medical field. If you or someone you know could use assistance or a pathway, I would be honored to help!

12/05/2023

Small Business Owners,

Are you wanting to serve your employees, but a 401k or retirement plan is too costly? I would be happy to help you... if setting up a plan might not be in your current budget, I would be happy to speak with your employees and can help those desiring on an individual level.

The majority of my industry focuses on the wealthy, so those working for a small business might get passed on too often. I would happy to teach your team the key financial concepts that I walk through with all my clients and help them put together a plan for the financial road ahead.

Let's make 2024 a great year (after we finish 2023 strong)!

10/31/2023

Medical field professionals...

How can I help you? A vast majority of my client base consists of nurses and other medical field professionals.

I would love to teach you about money, how it works, and how simple financial concepts can and will change the rest of your life.

10/06/2023

"Call me once the market settles down/starts to come back up"

The truth is that I do not have a crystal ball, and neither do you... no offense. I agree that the daily movement of the market and even when it is clearer in the red it can look bad. But, we never truly know what it will lead to.

But, the saying is "hindsight is 20/20"

It's really easy to look back and know that we should've made a move on this day or that day, but not one person knows what the future is exactly going to be. All we can do is make estimated judgements.

So, I share this chart as proof as to why I implore the idea of staying in the market over time. As you can see, just missing the best 10 days in the market from 1995 to 2014 (7,302 days... aka missing 0.015% of that time) cut the account balance in half... in HALF!

Who are we to know what days are best or worst? What I do know is that over time, if we stay committed to our plan, results show that we will end up ahead.

The value I add is talking people off the imaginary ledge of falling into a state of trying to time the market and making sure that they are aligned with their goals. If you truly are in a panic about market movement, there are great solutions to that. Otherwise, the plan that is set in place is likely the best route to continue going.

09/14/2023

In the past two weeks I’ve helped a dozen families implement life insurance protection in their plan. In EVERY case, they came to me with EXISTING life insurance coverage and had the mindset that they had enough.

Through a very simple 3-5 minute conversation I helped them come to the conclusion that they didn’t have enough.

Now, in their situations, they have 100% crystal clear confidence that they are covered.

Why I’m sharing this:

I have room for 5 meetings next week, let me review your policies with you. Would 30 minutes be worth your time to confirm your family is protected?

09/08/2023

Permanent Life Insurance - concept made simple

Permanent - meaning forever, for the extent of your life (***as long as you are paying the premium!)

1. Permanent life insurance allows for immediate coverage, just like term
2. In addition to the coverage, a majority of your premium goes to building Cash Value. This is an extra bucket of money saved up for you over time to have access to

Permanent Life Insurance could be great for, but not limited to:

1. People with high cash flow, with the need for life insurance and the ability to contribute more than a term policy
2. Those with the mindset of, "If I am going to be paying for it, I want more benefit than just coverage."
3. Folks with a pension (more to come on this)
4. High income earners (more to come on this, as well)

09/07/2023

Term Insurance - continued

Items to think about if you already have it:

1. Is it enough? Have you reviewed your current policy and know that this is enough coverage?
2. Will it last long enough? Did you buy a short term policy, but need to actually get coverage for a longer time period?
3. Are your beneficiaries up to date? Has anything changed?
4. When you got your policy, did you shop all companies?

Touching on this last question, it's important to have multiple options when looking at life insurance. There are over 700 insurance companies, so make sure that you are seeking coverage from an independent agent. I myself work with over 75 companies, and for the exact same client, I have seen premiums range significantly. Knowing that out of many options, you are going with the company that fits you best and can get you the best premium is critical.