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Welcome to the Summit Wealth Group blog! Our intent is to use this blog as a platform to communicate our thoughts and ideas as it relates to your everyday decisions regarding your unique financial journey.

We talk about a variety of topics such as budgeting tips, how to shop for the right home, how finances can affect your relationships and how to set yourself up for a better, more secure future.  Real life situations.  Real success stories.  What excites us is seeing our clients realizing their dreams, accomplishing their goals and achieving financial contentment – and this blog is intended to help you do just that.

We have several financial advisors that contribute to this blog, sharing their knowledge and expertise, so check back often. We invite you to follow along and ask that you share this blog with anyone who you think might benefit from it.

 

Thursday, September 28, 2017

The question for today’s topic: Is leasing a vehicle worth it? The really short answer is: perhaps! Let’s take a look. How Leasing Works Leasing is essentially a long-term borrowing situation from the dealership. A lease...

 

Wednesday, September 13, 2017

When brands become verbs informally adopted by the english language, it is a good sign that the company has made it big. Need an answer to something? Google it! Would you like to place a video-call to your friend? Skype them! Looking...

 

Wednesday, August 23, 2017

In our previous blog post, we revealed the first 5 of 10 common mistakes people make in retirement. In this blog, we pick up where we left off, providing the last 5. If you haven't already done so, you can check out part 1 here! 6....

 

Wednesday, August 16, 2017

As advisors, retirement planning is one of our greatest passions. "Retirement" may not be the correct terminology, rather, transitioning from full time work to “work-optional”. This is a wonderful time in life to continue...

 

Thursday, July 27, 2017

You may have heard the advertisements for online advisors, also known as investing apps or robo-advisors. These automated investment platforms such as Acorns, Betterment, and Wealthfront bring something very unique to the market not...

 

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Thursday, June 29, 2017

“Are you a fiduciary?” This is a question our advisors get a lot these days. Interestingly, 2 years ago we rarely received this question. Now we get it all the time. The shift has to do with a recent ruling by the...

 

Wednesday, June 14, 2017

The process of meeting with a financial advisor for the first time can be intimidating. You are stepping out of your comfort zone into an office with fancy decor, meeting with someone in a nice suit who speaks in terms you may not...

 

Friday, June 9, 2017

If you’re wondering this, you are not alone. Day trading can be appealing for a lot of reasons. Investors who want to take a hands-on approach to investing may be drawn to the various strategies and research required to be an...

 

Friday, May 19, 2017

1. Take advantage of compound interest. If you set aside $5,000 per year, starting age 25, and it averaged 10% growth per year (the average S&P 500 return since inception) you’ll have $1.05 million by age 55. If you had set aside...

 

Friday, May 5, 2017

 

Wednesday, April 26, 2017

One of the most frequent questions we get has to do with IRAs. There is a lot of confusion regarding IRAs, what their purpose is, what their benefit is and what are the differences between a Roth IRA and a Traditional IRA. The purpose...

 

Monday, April 10, 2017

Every year, families around the country gather for Easter Sunday. As you celebrate the holiday with family, friends, eat dinner, decorate easter eggs and enjoy the holiday, we thought we would provide you with some ammunition to keep...

 

Friday, April 7, 2017

To the untrained eye, it might seem that debit or prepaid cards are a smarter way to pay. Since they don’t involve borrowing money, there’s no way to get into debt, right? Before you shred all your credit cards, it is...

 

Monday, March 20, 2017

Top 5 Summer Travel Apps for 2017 Planning your summer vacation? There are many apps out there, designed to help you make the most out of your trip. Here are some of the trendiest travel apps for 2017. Hopper Price: Free Purpose:...

 

Tuesday, March 14, 2017

A retirement plan should be carefully constructed with your unique set of goals in mind, but this should be a good starting point if you are not sure where to begin!

 

Friday, March 10, 2017

Being in the business of retirement planning, by default one of the topics we happen to know a lot about is retirement living. When we sit down to discuss retirement planning with our clients, one of the questions we are often asked is...

 

Monday, February 27, 2017

Care to guess the most frequent question I received from my clients after the election? You’re right! “What should we do?” Futures and markets were down overseas and in the U.S. However, it wasn’t long before a...

 

Wednesday, February 8, 2017

Children are expensive —every Tom, Dick and Harry knows that. Thankfully there are several vehicles set in place that will help you lessen the financial burden of starting a family, should you implement them. When it comes to...

 

Tuesday, January 24, 2017

A recent article in the Wall Street Journal is unfortunately an example of the poor quality of journalism that has become all too common, even in such prestigious publications as this one. The article published on January 2, 2017,...

 

Friday, December 16, 2016

I have a 2-year-old daughter at home named Remy. She is our only child, and admittedly rather spoiled at this point. But, so much fun – she truly is the light of our world. Remy is at a very curious stage. For you parents out...

 

Monday, October 31, 2016

We live in an incredible age, with vast global knowledge available at the click of a button. As we continue to automate our lives through technology, who needs a financial advisor? Historically, the most common reason people have...

 

Tuesday, October 4, 2016

As another option for compensation, many employers have added company stock plans as an employee benefit to promote loyalty and increase compensation. If you are reviewing your company’s benefits or considering a new position, it...

 

Tuesday, September 20, 2016

Today I purchased a new vehicle. I hate to admit, because I try very hard not to be a typical materialistic American, but I do enjoy new vehicle shopping. I am not immune to the thrill of that new car feel. However, my "new" vehicle is...

 

Friday, September 9, 2016

“Half of the American people have never read a newspaper. Half never voted for President. One hopes it is the same half.” —Gore Vidal Most would agree that this election is one of the most interesting yet anxious...

 

Tuesday, September 6, 2016

For anyone who has a qualified company retirement plan, such as a 401(k) or ESOP (Employee Stock Ownership Plan), there is a little known tax strategy that can potentially save you thousands of dollars in taxes. The strategy is called...

 

Tuesday, August 23, 2016

What a wonderful season so far for my herbs, peppers and tomatoes. And the carrots, beans, corn, squash and potatoes are coming up for harvest... is what I would be saying had I planned ahead with preparing my garden beds and sowing my...

 

Tuesday, August 9, 2016

Many advisors and clients are frustrated with portfolio performance from 2012 to date but for very different reasons. Clients are frustrated due to well publicized returns from 2012 through 2014 for the S&P 500 index and perceived...

 

Tuesday, July 26, 2016

Amazing how questions from a 6 year old can grab your attention. We are spending some of our summer in the woods outside of Durango, Colorado. We purchased this “40-acre-slice-of-heaven” about 5 years ago. Nancy and I...

 

Tuesday, July 12, 2016

Came from Reagan. Not the Reagan you just pictured. My wife, Kaira, and I recently returned from Uganda. We went on a 10-day Compassion International sponsor tour. We’ve sponsored many children through Compassion International,...

 

Wednesday, June 8, 2016

We’ve all heard the statistics about Americans and our savings rates. According to some recent data gathered by the Center for American Progress, nearly one-third of Americans have no savings. This is a problem that must be...

 

Wednesday, June 8, 2016

There are several studies out there attempting to discover why people divorce. Lack of trust, infidelity, lack of communication or incompatibility are all common reasons. However, surprisingly, in most studies it is the issue of money...

 

Tuesday, May 10, 2016

Think back to your first experience with money. Not the time you swallowed 7 pennies, but rather an instance when you began to realize that money means something. I remember my grandparents handing me some change at church for the...

 

Monday, April 25, 2016

I have fond, fond memories of living in New Jersey. Being from Colorado and my wife from Hawaii, we had spent zero time on the east coast. We moved there when I was with AT&T. There's a significant event that occurred in our life in...

 

Friday, April 8, 2016

An unfortunate effect of our 24 hour financial data cycle, (I refuse to use the word news since most of it is totally irrelevant to our financial lives at present, much less five or ten years from now) is a complete loss of historical...

 

Tuesday, March 22, 2016

Have you ever met a rich person that hoards money or a responsible person going further into debt for no reason or someone that never lets others pay the bill at dinner? Money affects us all differently. We all have a certain attitude...

 

Wednesday, February 17, 2016

I was reading an article last week about crazy things that people do on their tax returns. The article was a CPA sharing some of the more humorous stories from the past few years. I thought I’d share a few with you as well as my...

 

Tuesday, January 26, 2016

Wow! The global stock markets have had a shaky start to 2016, to say the least. In a little over two weeks of trading, the U.S. S&P 500 index is down 10% on the year, which brings us into correction territory. On top of that, we’ve...

 

Tuesday, January 19, 2016

Over the last several months, many of our clients and prospective clients have asked me the question, “How long are you going to be doing this?” In other words, when are you retiring? I seem to be getting this question more and more. I...

 

Friday, January 1, 2016

The trend of online consumerism is fascinating. We do everything online these days. We shop for cars, electronics, clothing, even groceries can be ordered online! In the United States alone, more than 191 million people shopped online...

 

Wednesday, September 23, 2015

Baby Boomers are growing older and the “greatest generation” from the World War II era are now 80 years of age plus. This should add to financial planning discussions the unpopular topics of failing health and eventually...

 

Tuesday, September 1, 2015

Every year our advisory team goes through a business planning exercise. We each develop our own goals for the year and then share these with the rest of our team members. The goals are both personal and professional. It is quite an...

 

Friday, July 17, 2015

As I write this article I am concurrently looking at two financial websites. They will remain unnamed to protect the guilty. Just a splattering of headlines read: “Historic day for Wall Street as Nasdaq rallies past Dot-Com era...

 

Friday, June 26, 2015

June has arrived in Colorado with cadmium green foliage and cerulean blue skies. Warm weather is settling in and rivers are running high. Shorts and t-shirts have come out of the closet, finally! It also means peak climbing season for...

 

Friday, May 29, 2015

My wife and I recently had a wonderful experience hiking the 10+ miles to Havasupai Falls. Once there we were also able to plunge into the blue-green waters of Mooney Falls and Beaver Falls. This idyllic slice of paradise hours away...

 

Tuesday, May 12, 2015

Half the year is almost gone. Summer is just around the corner, at least in Colorado we’re optimistic it is. During Mother’s Day week we had crazy weather, 9 inches of hail, lots of rain and even a couple of inches of snow....

 

Friday, May 1, 2015

We’ve all heard the age-old adage that “money can’t buy happiness”. Most would probably agree with this. I remember years ago hearing a stand-up comedian challenge this expression. He said: “I know people...

 

Thursday, March 5, 2015

I wish every family could have an Aunt Pansy! There is so much that we can learn from someone so full of faith, love and spunk! As I think about her life, I have some very clear thoughts about the way her life has impacted mine with...

 

Friday, February 27, 2015

Imagine my client’s surprise when she found out the health insurance policy she owns is not “qualified coverage” for purposes of the new healthcare rules, and that she would be paying approximately $1,100 in...

 

Tuesday, February 3, 2015

Last October, my wife and I took our youngest daughter, Kulia, age 9, and middle child, Mason, age 20, to Disney World. Check that off the to-do list. We had a great time building memories as a family. Over the last several years I've...

 

Tuesday, January 20, 2015

Many of us are aware of what took place recently when Sony Corporation’s entire computer network was breached by a group of hackers that work under the disguise name “Guardians of Peace”. We know that sensitive...

 

Tuesday, January 13, 2015

I recently had a lifelong friend pass away at the age of 30. He had a week-long battle in the hospital before finally going peacefully in the presence of the most important people in his life. His situation involved serious medical...

 

Monday, December 15, 2014

It is really amazing to see financial scandal headlines every year in the media. One would think, at some point, investors would get the real point – a “get rich quick” scheme is typically a “go broke”...

 

Monday, December 8, 2014

My mom lives back in the Midwest, and it’s not nearly often enough that I make the trip from Colorado to Missouri to visit. So last month when she said she needed some work done around her house, I immediately got online, booked...