Financial Planning - It gets to be Simple

31/08/2023

What is something that most clients don’t ask BEFORE hiring a financial advisor? 🤔

(If you happen to have a story about a client who hired someone who wasn’t a good fit, that would be great to share here!)

If you’re thinking about working with a financial advisor, be sure to ask these questions:

https://www.mainsailfg.com/posts/questions-to-ask-financial-advisor

What is a financial advisor, planner, or wealth manager, and how do you know you are hiring the right one for your unique situation? Here are questions to ask a financial advisor before hiring them.

29/08/2023

Have you made one of these retirement mistakes? 👀 👇

As you start thinking about retiring, you are likely soaking up as much knowledge as you possibly can in preparation. Unfortunately, this can also be a time where mistakes can be made and this can affect your future planning.

Some of those common mistakes include:

1️⃣ Not identifying ALL of your expenses accurately

2️⃣ Not creating a income strategy during retirement

3️⃣ Not accounting for inflation and changing cost of living

For more mistakes we commonly see, visit our free resource including tips to avoid them:

Retirement planning can be daunting. Alleviate your concerns by learning about 5 common retirement mistakes and how to avoid them in this article.

03/08/2023

What are you reading right now? 📚

Now that we are in the midst of summer, I notice my personal priorities shifting to spend time reading outside! I am about halfway through “My Sister’s Keeper” by Jodi Picoult.

High level, the book is about a family dealt a moral dilemma when one daughter is genetically engineered to help her older sister, who is battling a life-threatening illness. The novel dives into family dynamics (from each member’s perspective), love, sacrifice, and the ethical implications of medical choices.

I have been amazed at how the book does an exceptional job walking through the thought process of each character and painting a world where people can have opposite views and still come from a place of love.

That is one of my favorite parts of financial planning - there is not “one” answer, and often we have more similarities than differences despite all of our lives being different. If you feel like having more direction with regards to your personal finances would be helpful, I would love to connect and learn your story!

01/08/2023

Mid year market outlook 🌟

As we kick off the third quarter, and cross the halfway point in 2023, it’s a great time to assess what has been going on in the stock market and what may lie ahead.

Learn more from Mainsail’s Steele here:

As we kick off the third quarter, and cross the halfway point in 2023, this is a great pausing point to reflect on what we've seen so far in the first half of 2023 and what we expect for the second half. It has been an amazing start so far in the markets, with the stock market up double-digit percen

27/07/2023

Networking is key 🔑

We recently hosted an advisor round table event here at Mainsail! Networking with others in the industry empowers personal growth and provides a fresh perspective. (If you’d like, you can insert something you learned during this event) 🤝

25/07/2023

What is a fee only financial advisor? 🤔

It may seem counterintuitive, but paying for your financial advice is actually a good thing!

We created a resource about why to hire a fiduciary, fee-only financial advisor: Why Hire a Fee Only Financial Advisor — Mainsail Financial Group

http://www.mainsailfg.com/posts/fee-only-financial-advisor

You should want to pay fees to your advisor. Choosing a fiduciary, fee only financial advisor who provides objective advice will help you realize your financial goals, and here's why.

20/07/2023

Update: Student Loan Forgiveness Program 🎓💰

As an update to my recent post, on June 30, 2023, the Supreme Court blocked the student loan forgiveness program in a 6-3 decision. The court’s decision impacts 26 million U.S. borrowers who applied for relief after the plan was originally announced in August 2022.

Additionally, the student loan repayment pause will end on August 30, 2023. Interest will also restart at this time.

18/07/2023

Many of our clients own a home and/or have rental properties. Often, the question arises: “How do my tangible and non-tangible (stocks/bonds) resources fit into the picture?” 🤔

As I personally am working to find new tenants for my rental property, I’ve noticed that going through this process to find a renter overlaps many steps in financial planning.

Finding a renter involves several steps, such as:

1️⃣ Set financial goals and determine the desired rental income.

2️⃣ Market the property effectively through online platforms, signage, or real estate agents.

3️⃣ Screen potential renters to ensure reliability and financial stability.

4️⃣ Draft a comprehensive lease agreement to protect both parties.

5️⃣ Conduct a thorough background check and verify references.

6️⃣ Collect a security deposit and establish clear rent payment terms.

Aligning this process with financial planning ensures a steady rental income stream, maximizes return on investment, and contributes to long-term financial stability.🙌 If you think it would be helpful to have a conversation about how this may relate to your personal life, please comment below! 👇

14/07/2023

Giving back feels incredible, and I want to share a local charitable organization that we give back to here at @‌Mainsail Financial Group! 🏘️ 👇

@‌Northwest Center is a nonprofit organization based here in Seattle that serves children and adults with development disabilities, providing early intervention, childhood education, after school programs, employment, and job training.

We recently made a donation in honor of our incredible Mainsail community, and we know how important spreading the word about the incredible work they do is!

Let's make a tangible difference in our community and spread the word about the organizations doing great work! Together, we can create a brighter future for everyone. ❤️

11/07/2023

Highly recommend giving this video a watch! 👇

The Power of Full Engagement by Jim Loehr and Tony Schwartz does a beautiful job of sharing how one can have a better handle on the energy they have to give each day.

The book highlights energy across 5 categories:

Physical
Emotional
Mental
Spiritual
Social

Doug Neill, an individual who does a beautiful job summarizing books and ideas with sketches does a terrific job sharing the high level concepts of this book with strong examples.

A visual summary of the book The Power of Full Engagement by Jim Loehr and Tony Schwartz.Learn how to take visual notes: https://www.verbaltovisual.comThe Po...