Oak Park Financial Planner - Brian Plain, CFP® - Brian's Blog

Time for a Change

Thu, 29 Sep 2011 08:42:04 -0600

Photo Credit: David Reece

After two plus years of weekly blog updates and a month long blogging vacation, I’ve decided to make some changes. Without further ado…

Introducing the Saturday Scoop
The Saturday Scoop is my new weekly email update delivered every Saturday morning right to your inbox. Each week I'll feature one relevant article, video, or link that I found this week that I think you should know about. The Saturday Scoop will also feature original content that would have previously been posted here first. Click here to check out the first edition which came out this past Saturday.

If you’re already signed up for my email list, you don’t need to do anything as you’ll receive the Saturday Scoop automatically. If you’re not signed up and would like to receive my updates, you can join my email list here:

Join My Email List

New Blogging Schedule
The Saturday Scoop will replace my every Monday blog updates. I’ll post some new articles and videos here from time to time, but be sure to join the mailing list as that will be my primary source of new content and updates going forward.

The Last Word
I hope you’ll check out the Saturday Scoop and I’d really love to get your feedback. Don’t hesitate to call or email me with any comments or questions as my goal is to continue to provide you with helpful information that you find both valuable and actionable. Thanks!

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

3 Steps - Maintaining Your Lifestyle in Retirement

Mon, 26 Sep 2011 09:22:18 -0600

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisory, Member FINRA/SPIC.

3 Steps - Divorce or Loss of a Loved One

Mon, 19 Sep 2011 08:55:02 -0600

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

3 Steps - Saving for College While Planning for Retirement

Mon, 12 Sep 2011 09:01:28 -0600

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

Back to School

Tue, 06 Sep 2011 08:36:34 -0600

Photo Credit: Phil Roeder

And so ends another summer…

I hope you enjoyed spending time with your family and friends and find yourself recharged. As we get back into our regular routines, here are three quick ways to make sure your financial plan does the same.

Check Your Beneficiary Designations

Make sure your 401k, IRAs, College Savings Plans, and life insurance policies all reflect your current wishes regarding your beneficiaries. This usually just takes a phone call and/or filling out a form to make sure they are updated. I’d recommend putting a date on the calendar and reviewing them annually.

Check Your Life Insurance / Estate Plan

In addition to making sure your life insurance policies indicate the proper beneficiaries, make sure your term of coverage and coverage amount is still appropriate. Perhaps you’ve switched jobs, welcomed another child, or just haven’t gotten around to doing your life insurance yet. Don’t leave your loved ones in a bind; make sure your coverage is what you’d want it to be should something happen to you.

The same holds true for your estate plan. Nobody wakes up saying today is the day I’m going to take care of my estate planning, but that’s not an excuse to continue to put it off. Make sure your estate plan properly reflects your wishes.

Check Your Investment Portfolio

If you’ve been enjoying your summer rather than watching the market (and I certainly hope that’s the case!), it’s a good idea to take a look at your portfolio and make sure it is still lines up appropriately with your goals. If not, it may be time to rebalance your portfolio to make sure it does.

I’m Happy to Help

These three steps are good starts towards helping you fine tune your financial planning. If you need help with any of these, don’t hesitate to give me a call or shoot me an email. I’m happy to help!

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

A Blogging Vacation

Mon, 01 Aug 2011 08:30:44 -0600

Photo Credit: ricardodiaz11

For the past two plus years now with few exceptions, you’ve been greeted every Monday by a new blog post from me.

Blogging is something I’ve really come to enjoy as an avenue to share my thoughts with my clients, friends, and the world. I plan on continuing to do so for a long time and with that in mind…

I’m taking my first blogging vacation for the month of August.

In addition to my blogging vacation, I will be on an actual vacation with my family beginning Saturday, August 13th and I’ll be returning to the office on Monday, August 22nd. Please don’t hesitate to contact me either via email or phone during this time, but if it’s not time sensitive, I’ll probably take a little longer to get back to you than I normally do.

In the meantime, you’re welcome to check out the virtual treasure chest of material in my blog archives which you’ll find to right of this post further down the page.

I have a lot of new blog posts in the pipeline (including a bunch of new video posts) that I can’t wait to share with you in September. Enjoy your month and I look forward to connecting with you again soon!

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

Small Steps & Little Victories

Mon, 25 Jul 2011 09:25:48 -0600

Photo Credit: Fire At Will

The perceived effort required to establish control of both your current and future financial well-being can be daunting to put it mildly.

Am I saving enough?

Am I on track for the retirement I envision?

Can I help my children with college without sabotaging my retirement vision?

What am I missing that I didn’t even think to ask myself?

Questions like these can cripple your best efforts to take control of our situation.

My suggestion is to embrace the concept of small steps and little victories.

Start by figuring out what you can do right now that moves you one step closer to answering your questions. In fact, write it down. Now go do it and once you’re done, cross it off your list.

Feels good doesn’t it?

Don’t allow yourself to fall victim to your own sets of crippling questions. Embrace small steps and celebrate little victories in your financial planning journey and you’ll avoid the road blocks that knock so many people off their course.

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

The US Debt Ceiling and Your Financial Plan

Mon, 18 Jul 2011 10:17:51 -0600

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

More Than a Number

Mon, 11 Jul 2011 08:43:16 -0600

Photo Credit: Irargerich

Perhaps you’ve seen the rather popular commercial on television asking people what’s their number.

I like the premise of the commercial, but also dislike it at the same time.

Having a number in mind for retirement means you’ve taken steps toward formulating a plan for your future which is a good thing.

What I don’t like is how the commercial implies that true happiness is achieving a number. In fact, I’ve met many people who have achieved rather large retirement numbers but struggle to enjoy it.

To find a true retirement number, we start by asking probing questions and requiring your honest answers. Questions like, “If money wasn’t an issue, what would you do every day?” and “What are you passionate about and who do you enjoy sharing your passions with?”

The concept of a retirement number is great, but make sure it represents much more than just a dollar figure…

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.

The Unexpected Retirement

Mon, 27 Jun 2011 09:36:03 -0600

Photo Credit: Ron Bennett

Most people choose to address their financial planning when a life event occurs. This may be the birth of your first child, a divorce, or a loss of a loved one. As retirement is often a moving target, we tend to put off planning for it until it is staring us right in the face.

When most people plan for their retirement, they do so in terms of how long they would LIKE to work, not how long they will be ABLE to do so. Once a minor concern, the concept of an unexpected retirement has become an unfortunate reality for many people.

So what can you do to avoid what seems to be the unavoidable?

Be proactive.

Make sure your plan of attack is not solely dependent on your current employment situation continuing to exist or you maintaining your health into your later years. Instead, ask yourself questions like, “What would I do if my job disappeared tomorrow?” or “How would my retirement picture change if I was no longer able to work?”

Don’t wait until your fate is sealed to develop a game plan. Give yourself options before you need them and you’re much more likely to have them available should the unexpected occur.

Securities and Financial Planning offered through Ausdal Financial Partners, a Registered Investment Advisor, Member FINRA/SIPC.