What’s Your Worst Case Scenario? Let’s Have Some Fun with It!
My husband and I play this game that we borrowed from the popular TV series This is Us. When confronted with a difficult situation, the two main characters ask each other, “What’s the worst case scenario? GO!” And then we hear them blurt out extreme and creative things they imagine may go wrong. My husband […]
Why Estate Planning is Important
Most people kick the can down the road on estate planning for as long as possible, and justifiably so. It’s not easy to talk about what to do in the event of serious illness or death. It also takes time and money to work with an estate planning attorney to get the proper documentation in […]
Tick-Tock! Time Is Money…or is it?
With a second child on the way, I’ve been thinking a lot about Ben Franklin’s saying, “Time is money” as I anticipate having a lot less time on my hands. The idea that time equals money carries a simple message: We should—to the best we can—use money to get us more time. And when you […]
How Much Should You Spend on Housing?
One common question we get from clients is: How much should I be spending on housing? A quick Google search will take you to the 30% rule, which is the most widely accepted (yet debated) rule of thumb. The 30% rule suggests that you should limit your housing costs to no more than 30% of […]
What does a recession actually mean for me?
As if the last three years of a pandemic, lockdowns, and political turmoil weren’t enough, now we’re consumed by rising inflation and threats of a recession. It’s a lot to digest, to say the least. I want to help break it down so you understand what these events mean for you. First, let’s define what […]
Should I (continue to) Buy Stocks Now or Wait?
We’re starting off this post with the question that’s on everyone’s mind: Should you wait before investing (or investing more) given the uncertainty of the economy? In one way or another, all my clients are asking this totally reasonable, million-dollar question. It reminds me of when we wrote about this topic in April of 2020 […]
How Is Financial Life Planning Different from Traditional Financial Planning?
Here at Thinking Big, we practice Financial Life Planning (FLP). If you’ve never heard of it, you’re not alone; especially because we more often refer to our work by another name, “Holistic Financial Planning.” But the two are one in the same. FLP is a newer, more complete way to approach and determine how money […]
What Happens When You Embrace Your Money Regrets
We’re all familiar with the motto of living with “no regrets.” It means you should always make choices that you can live with for the rest of your life. And when you don’t … well, we’ve all seen that scene in a movie when someone is on their deathbed wishing they had spent less time […]
Where Should I Put My Money?
How do you know if you’re putting your money in the right places? It’s a broad, overwhelming, yet common question. The good news is that the answer can be straightforward once you know all the components. First, you need to consider the actual places of where to put your money, like in savings and checking, […]
Our Financial Planning Process
Not all financial planning firms approach this work in the same way, which is why I thought it would be helpful to explain how we think about and approach the financial planning process. As the new Director of Client Care at Thinking Big, I act as a guardian of this process; I make sure we […]