With the ever-increasing costs of college, starting to save for a child’s college expenses can feel like a daunting endeavor. Not to mention balancing saving for college with the myriad of other financial priorities you or your family may be working towards such as your own long-term financial security. However, as with any financial goal, …
Modern portfolio theory is a generally accepted practice used by many financial advisors, individual investors, and large institutions in managing their investment portfolios. It aims to optimize the expected return based on a given amount of “risk”. Through diversification, the portfolio becomes more efficient at optimizing returns. This takes into account a plethora of mathematics …
Introduction to Behavioral Finance and Common Investor Biases Read More »
Our personal cash flow is the underlying tool we use to achieve our financial goals. A salary or some form of compensation for performing a job is typically the most common form of personal cash flow. On a monthly basis, we decide what to do with our cash flow and how it’s allocated ultimately determines …
The steps to financial success usually aren’t easy. However, there are steps you can take in the short term to put yourself in a good position to meet your goals. At Millennial Wealth, we preach that living a fulfilling life includes not only physical and mental health but financial health as the third piece of …
We developed a personal expense worksheet to help our clients identify where they’re spending their money, and how much they’re spending on average, monthly and annually. We hesitate to call it a budgeting template because it’s not. We don’t believe in traditional budgeting unless it’s truly necessary to break bad spending habits. For most people, …
A budget is similar to a diet. What a diet is to physical health, a budget is to financial health. Both are developed to improve yourself, but neither are typically sustainable. More often than not they’re temporary lifestyle changes, not permanent behavioral changes. As a result, we’ve found the best way to budget is through …
