Solana Beach Financial Advisors: 13 Ways Women Can Become Financially Educated, PART 3

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

Welcome to the final installment of this three-part article series on the 13 ways women – regardless of marital status or vocation – can advance their financial education and in doing so, achieve greater personal wealth and business success. In Part 2, we explained the following five points:

•    Read financial magazines and newspapers, both local and national.

•    Talk to stock, real estate and business brokers, especially the successful ones because they are generally very enthusiastic about sharing their experience.

•    Speak to other people who have invested in the assets in which you are interested. Learn from their mistakes and heed their advice.

•    Join an investment club for women and if there isn’t one in your area, be the first to start one!

•    Become a CASHFLOW club member and stop wasting your time and brain cells on games like Candy Crush.

Let’s take a look at the five final ways Solana Beach’s female residents can begin to further their financial education…

Become Financially Educated # 9: Get Online!

The Internet is the largest and most easily accessed resource you have for information on finances, investments and assets. Get online and start reading up about any investments you might be interested in. There are YouTube videos, Wikipedia articles, news articles, blogs, discussion forums and many other reading materials that can get you more familiar with the world of finance and investing. This can be a good place to start and can at least help you arrive at some definite questions for your financial advisor.

Become Financially Educated # 10: Take a Drive Around Solana Beach

If you’re thinking of investing, get in your car and take a drive around your own neighborhood. Use your eyes and instincts to get a feel for what is happening in your own backyard or whatever neighborhood, town or city you do live in. What businesses are doing well? Which areas are doing well from a real estate perspective? Solana Beach asset management experts always recommend becoming familiar with your micro-economy and market as it could educate any future decisions you make to invest in property.

Become Financially Educated # 11: Turn on the TV

There are a myriad of television shows that pivot around investments, financial news and other financial topics. Some are a little drier than others, but are still full of the latest facts and figures concerning the stock market and global trade. Then there are those more entertaining reality shows, such as the Dragon’s Den. Listen to the financial report in the mornings while getting dressed and ready for work – this will help you stay informed - and entertain yourself in the evenings with a reality show with a financial theme.

Become Financially Educated # 12: Subscribe to Financial Newsletters

Just about every online news website, channel or station offers readers the option to subscribe. Sign up for a couple of these and have a read through their periodic newsletters to keep a finger on the pulse of what’s happening locally and globally in the world of finance. Take note of any projections and see how reliable their forecasts are as this may help you to make future investment decisions.

Become Financially Educated # 13: The Only Stupid Question is the Unasked Question

There’s no such thing as a stupid question! I always encourage people to ask their financial advisors whatever questions they might have no matter how simple. They are the ones with the education and experience in finance and investment and they certainly don’t expect their clients to know everything about this field.

Remember, the more questions you ask to the Solana Beach financial advisors, the more you’ll learn. Don’t be embarrassed and don’t allow pride to get in the way. You’re in the pursuit for knowledge that will empower you and all of your future financial decisions.

Solana Beach Financial Planning Advice For Women - 13 Ways To Become Financially Educated, PART 2

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

Welcome to the second installment of this three-part article series on the 13 ways women - regardless of marital status or vocation - can improve their financial education and in doing so, achieve greater wealth, independence and personal success.

In Part 1, we explained the following three points:

• Read books on finance, investing, business management and more.
• Listen to podcasts and audio books while in traffic, or at home.
• Attend educational conferences, seminars and workshops hosted in your area.

Let's jump right back into it and find out how else Solana Beach women can become their own great financial planners!

Become Financially Educated # 4: Read Financial Magazines and Newspapers

There is a plethora of financial literature available in magazines and newspapers such as the Investor's Business Daily and The Wall Street Journal. Subscribing to these and to local business journal newspapers and magazines will help you keep a finger on the pulse of the latest investment and financial news. Most Solana Beach financial planners begin their day by perusing this literature, so if it's good for them, it's good for you!

Become Financially Educated # 5: Talk to Stock, Real Estate and Business Brokers

These professionals are extremely valuable resources, which you should tap into for information and advice. Just be careful and remember at the end of the day their advice will likely be geared at trying to get you to buy something, so take it with a pinch of salt. In my experience, the more successful a broker is, the more open they are to sharing their experience and education with someone else, so take full advantage.

Become Financially Educated # 6: Speak to Other Investors

Do you have an idea of what you'd like to invest in? Are you considering purchasing artwork and antiques or putting those savings into stocks and bonds? Find people who are already investing in the assets you are contemplating and see what they have to say. Successful antique and art dealers and other successful investors are typically very happy to share their knowledge with others and their experience can prove extremely valuable to you.

Become Financially Educated # 7: Join an Investment Club for Women

You're not the only female Solana Beach resident who would, given the chance, like to learn more about Solana Beach wealth management and investment! In fact, the majority of investment clubs are owned and run by women for women. You've got to be aware of the agenda of these clubs, though. Some have formed with the goal of pooling money and investing it together. The kinds of stock market investment clubs you should be on the look out for are those that promote education and the sharing of experience, advice and information. If you don't find what you're looking for in your neighborhood, here's an idea... start your own club!

Become Financially Educated # 8: Become a CASHFLOW Club Member

CASHFLOW is a fun, entertaining and educational app that you can easily download onto your smartphone. It's become so popular, in fact, that several clubs have sprung up around the world, which act as forums for CASHFLOW fans and enable members to chat about their investment goals, share advice and information and even occasionally host guest speakers. Join your local CASHFLOW group and if there isn't one near you, then get online and start playing it for free! Wealth management education has never been this fun for Solana Beach women.

Stay Tuned for Part 3

Stay tuned for the final installment of this three-part article series to find out the remaining ways you can easily and enjoyably become financially educated!

Solana Beach Wealth Management Advice for Women - 13 Ways To Become Financially Educated, PART 1

This three-part article series provides a discussion on 13 different ways women can seek to expand their financial knowledge and in doing so, become more educated in their decision-making and successful!

The benefits of a sound financial education are innumerable for Solana Beach residents. One of the keys to great wealth management is investing and one of the keys to investment success is smart decision-making! Your financial advisor is there to help you with those decisions, but becoming financially educated yourself can enable you to blast through economic adversity and help you achieve fantastic success in both business and personal wealth.

The great news is you don't need to enroll at a university or sign-up for an online course in order to become financially educated. All you really need to do is become interested! Once that piece of the puzzle is in place, your natural inquisitiveness will take over and you can then, piece-by-piece, begin to add to your financial know-how.

And so, in this three-part article series, we shall reveal the 13 ways women - regardless of marital status or vocation - can seek to improve their financial education and in doing so, achieve the wealth and independence they utterly deserve!

Where Women Begin Looking

Naturally, the first place anyone starts looking for information is the Internet, but this can actually prove to be a rabbit warren of second-rate advice that actually borders on demeaning. There are few truly valuable resources aimed at helping women become financially educated. And the blogs, websites and forums that are available tend to provide pithy advice on how to save pennies at the grocery store and balance a checkbook.

Sure, it's useful to read advice on how to minimize your expenses, save money on insurance and the like, but we're talking about the kind of financial education that will see female Solana Beach residents making savvy investment decisions and, in doing so, secure yourself a rich and exciting life and retirement. We're looking at the big picture!

And so, this brings us to the first of 13 ways women can begin learning the language of the world of finance and investment. Let's get started!

Become Financially Educated # 1: Read Books

Take a look at the "finance" or "wealth management" aisle in any Solana Beach bookstore or library. There is an abundance of books on finance, wealth management and investing, some of which are targeted at business professionals and others that are targeted at complete novices. So no matter how much or how little you know about investing, you can begin your education by choosing books that suit your needs and match your level of experience. Then start reading!

Become Financially Educated # 2: Listen to Podcasts and Audio Books

Reading not quite your thing, or don't have time to sit down with a book? That's fine, because according to many Solana Beach financial planners there's a wealth of information available through podcasts and audio books. Download some audio material on investing, finance and business management onto your smartphone and instead of sitting in traffic listening to one vapid DJ drone on about the latest Kardashian drama, get educated.

Become Financially Educated # 3: Attend Educational Conferences, Seminars and Workshops

Keep an eye on the forum board of local Solana Beach businesses, community colleges, clubs and groups as you'll find they frequently offer educational talks, conferences, workshops and seminars on finances, investing and other business-related topics. Some of these programs are specifically designed for women, while others are for everyone. Regardless, get in on the action and learn from some of the best and most experienced professionals in the industry.

Stay Tuned for Part 2

Stay tuned for the second installment of this three-part article series to find out more ways you can easily and enjoyably become financially educated!

Should I Keep the House or Not? Asset Management Advice for Del Mar Residents Going Through Divorce, PART 4

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the final installment of this four-part article series on whether it’s a good or bad idea for you to keep the house post-divorce. So far, we have posed the following exigent questions to Del Mar residents facing this situation and the totally new asset management picture that comes with it:

1.    What does your house mean to you and could you perhaps find its virtues in another home elsewhere?
2.    How long do you plan on staying in your house post-divorce?
3.    Does it make financial sense to continue to own the house jointly with your ex?
4.    If you do opt to keep the home, what assets of yours would you have to sacrifice to compensate for your ex’s equity?

Let’s continue with two final questions you should be asking yourself if you’re considering keeping the house post-divorce.

“Should I Keep the House?”

Question # 5: Can You Afford to Keep the House and to Pay its Mortgage?

Image courtesy of Free Digital Photos

You may be seduced by your current low mortgage rates, but deciding to take the house in divorce begins a long and costly chain of events that could see you regretting this decision in the first place.

When one spouse takes the house, he or she will need to have the mortgage refinanced so that the other spouse’s name is taken off the mortgage agreement. This process costs money and then you’re facing new monthly payments that, at today’s interest rates, aren’t quite as favorable anymore. So be wary, say asset management experts in Del Mar.

In addition to refinancing, you’re also looking at the responsibility of being the only one who pays for the maintenance and upkeep of the property. This might become especially expensive if it has been months or even years since you and your ex put any effort into fixing and maintaining the house.

Keeping a house that hasn’t received any maintenance or upkeep in more than a year could end up being a catastrophic financial decision for residents. You’re not only inheriting a house that is falling down around you, but also all of the bills that come hand-in-hand with it. If you sense your marriage is on the rocks and want to keep the house, many Del Mar LPL financial advisors suggest that you begin the process of fixing and maintaining it while your assets are still shared.

“Should I Keep the House?”

Question # 6: Do You Understand the Tax Consequences of Keeping the House?

When it comes to tax, if you’re not in the know, you stand to lose a considerable amount of money.

Oftentimes, it benefits both partners to simply sell the home jointly while it’s listed under both of your names. If you have lived in a home for between two to five years before you decide to sell it, you can exclude $250,000 of its capital gain from your tax bill, and $500,000 if you sell it jointly with your ex, according to asset management law.

Image courtesy of Free Digital Photos

But, if you keep the house and refinance it so that you become the sole owner, you alone shoulder the capital gains liability and the cost of the sale. If your home has appreciated in value by more than $250,000, you will be responsible for paying tax on that excess, whereas if you had simply sold the house while it was under both of your names, the $500,000 exclusion would have saved you all of that money on tax.

This is something Del Mar residents should calculate and consider with the help of a financial advisor before making any major decisions with regards to home ownership.

Should I Keep the House or Not? Financial Planning Advice for Del Mar Residents Going Through Divorce, PART 3

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the third installment of this four-part article series on whether it's a good or bad idea for you to keep the house post-divorce. In Part 1 and 2, we discussed the following questions in order to help Del Mar residents make better financial decisions and plans when deciding who should keep the house.

• What does your house mean to you? Could sentimentality be coming between you and the best financial and emotional decision for you and perhaps your kids?
• How long do you plan on staying in your house after divorce? If it's only for a short time, selling up while you're still processing the divorce might be the best decision as it saves you money on refinancing, upkeep and selling.

Let's continue with the next two important questions you should be asking yourself if you're considering keeping the house post-divorce.

"Should I Keep the House?"

Question # 3: Does it Make Sense to Continue to Own the Home Jointly With Your Ex?

Another option is to hold on to your home and continue to own it jointly with your ex. This often works out very favorably with more amicable divorces, according to many Del Mar financial planners. Doing it this way saves money on refinancing your home to get your ex's name off the mortgage. Additionally, you won't have to trade any of your own assets for his or her equity, such as your retirement fund. You simply continue to own the house together, paying the same mortgage and sharing in the costs of upkeep. When you do decide to sell, you split the costs of the sale down the middle, as well as the value of the house and its appreciation.

"Should I Keep the House?"

Question # 4: If You Keep the Home, What Assets will You Have to Sacrifice?

If you want to keep the house, you're looking at trading some of your valuable assets to compensate for your ex's equity. It's at this juncture that many Del Mar residents make the potentially poor decision of trading their retirement assets for their ex's half of the home. What you need to decide is whether you can replace those assets before you reach retirement, otherwise you may find yourself in a financial pinch, even though you have held on to the house.

Divorce can hit retirement plans especially hard, because you're essentially splitting your retirement funds in half. Also, it can be hard to focus on the future when the present is so tumultuous. What you should ask yourself at this time is whether you can afford to give up your savings and retirement provisions to keep the house. Speak to your financial advisor or retirement planner about this. If you can't, you'll only end up having to sell the house when your already exhausted funds run dry. You may only be postponing reality by keeping the house.

Stay Tuned for Part 4

Stay tuned for the final installment of this four-part article series to read more about asset management in Del Mar like financial advice on whether Del Mar residents going through divorce should hold on to the house or not.

In Part 4, we'll provide a recap of the questions explored thus far, before taking a look at these final two:

• Can you afford to keep the house and pay its mortgage?
• Do you understand the tax consequences of keeping the house?

Should I Keep the House or Not? Financial Advice for Del Mar Residents Going Through Divorce, PART 2

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Welcome to the second installment of this four-part article series on whether it’s a good or bad idea to keep the house post-divorce. The answer to this exigent question, of course, varies from person to person and depends on a suite of variables. In Part 1, the first important question financial planners in Del Mar tend to urge divorcing Del Mar residents to consider is what their home meant to them and why it is they would want to hold on to it. Could the benefits and advantages of staying there be found elsewhere? Was the decision made emotionally or because the home really is practical and safe, in a good neighborhood, close to good schools? etc.

Image courtesy of Free Digital Photos





Now let’s take a look at the next important question anyone going through a divorce should ask themselves when considering whether or not to keep the home.

“Should I Keep the House?”

Question # 2: How Long Do You Plan on Staying if You Keep Your Home?

Do you plan on living there indefinitely? Do you wish to leave your family home to your children? Or do you just want to stay there until your kids have finished school and have moved out?

Not surprisingly, how long you plan to stay in your home after divorce can really have a big and important impact upon your decision to keep it or not, according to many Del Mar financial advisors. Many people go through the trouble of refinancing the mortgage after a divorce, which is a very costly process, only to end up moving out once they’ve met someone new perhaps a few years down the line. Selling the house is another issue entirely! You’ve got to get it into sellable condition and then pay real estate agent’s commission and taxes, so ask yourself whether this is all worth it given the period of time you wish to stay there.

While it’s not possible to predict with any certainty what may happen in the future, you can at least decide how long it is you’d like to stay in the home and under what circumstances you’d be tempted to sell. Keeping the house for only a few years and then selling it could see you losing money to the afore-mentioned costs. However, keeping the house for a longer time – perhaps 10 years or more - allows the price to appreciate above the costs of upkeep, taxes and resale, which negates any losses you might incur.

If you don’t want to get involved in any of this from the outset, then liquidating your home during in the process of divorce and splitting it down the middle might be the best bet for you and your ex.

Image courtesy of Free Digital Photos

Stay Tuned for Part 3


Stay tuned for the third installment of this four-part article series to read more financial planning advice on whether Del Mar residents going through divorce should hold on to the house or not. In Part 3, we’ll examine advice surrounding the following two questions:

Does it make sense to continue to own the home jointly with your ex?

If you keep the home, what assets will you have to sacrifice?

Should I Keep the House or Not? Financial Advice for Del Mar Residents Going Through Divorce, PART 1

This four-part article series poses a series of questions to help people going through divorce decide whether it is in their best financial interests to keep the house or to sell it and split the money.

Going through divorce can be a terribly difficult and tumultuous experience. Not only are you trying to cope with the emotional ramifications of splitting from your partner, but now you've got to organize the splitting of all your joint assets too! The question many Del Mar residents ask their financial advisors at this time is: "Should I keep the house?"

It can be tempting after all, your entire house is also your home and it can feel like a safe haven from the full-force emotional storm that is causing havoc in every other sphere of your life. Having to pack up the house and go through the long and arduous task of marketing and selling it can seem like too much at this fragile time. Then, of course, there's the fact that property is a major asset and holding on to it after divorce can seem like you're walking away with the better end of the deal.

However, in this time of great change, it is absolutely fundamental that you make all the necessary considerations before deciding whether to hold on to the house or not. Sure, it may be the better decision for you in the long run, but it might also not be, which is why the residents who are going through divorce should consider the following six questions relating to wealth management in Del Mar.

We shall be exploring these questions in this four-part article series.

Should I Keep the House?

Question # 1: What Does Your House Mean To You?

It may be your immediate and strong impulse to want to hold on to your house. It's where you've lived, loved and raised your kids for years and after all the loving attention and investment of time and money you've made, it has become an extension of your very being. But ask yourself whether these are good enough reasons to hold onto the house after divorce. Could staying be holding you back financially and emotionally?

Del Mar financial advisors often recommend to clients that they make a list of all the things they love about their home. Oftentimes, criteria such as its location, its proximity to schools, the neighborhood, etc. come up and in most cases; these criteria can be achieved elsewhere. There are many lovely neighborhoods, many of which are close to good schools. It is possible to find a new house in Del Mar that meets every item on that list you have made about what you love about your home.

You need to separate your emotional attachment to your house from its more practical benefits, because the latter can easily be found elsewhere. And if it does make financial sense for you to move to a new home, you shouldn't allow sentimentality to prevent you from moving forward, financially and emotionally.

Stay Tuned for Part 2

Stay tuned for the second installment of this four-part article series to read more financial advice on whether Del Mar residents going through divorce should hold on to the house or not. In Part 2, we'll examine advice surrounding the following question:

How long do you plan on staying at your home if you do keep it?