Blog
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.
Tax Planning Now? We Should Wait, It Is Almost the Holidays!
The holiday season is busy, but don't wait to secure your financial future. Tax laws change, so plan ahead. Consider Roth IRA opportunities. Enjoy the season with loved ones, combining math and magic through tax planning.
Read MoreShould I Invest in a ROTH or Traditional IRA?
“Should I contribute to a ROTH or Traditional IRA?” We get this question from clients of all ages and walks of life. Everybody’s situation is going to be a little different with these accounts. There are a...
Read MoreWhen is it Safe to Withdraw from Your 401(k) without a Tax Penalty?
A 401(k) is one of the most popular ways to save for retirement. And while ideally, the funds will go untouched until you need them in retirement, the reality is sometimes life happens, and you may need to access those funds earlier...
Read MoreLessons About Investing from Flying
Recent travels remind me that there are so many similarities in how the world operates. From being a passenger to an investor, these to-dos and don’ts are interchangeable:Secure your mask before helping others - you...
Read MoreThe Great Retirement Question: Should I Work During Retirement? | Financial Advisor Blog
Traditionally, retirement was the state or period of cessation from work, usually after reaching a predetermined age, sometimes with pension benefits. It's a moment we're conditioned to look forward to our entire lives. Finally, free...
Read MoreShow All
The Key tips to Retiring in Your 50s | From a CERTIFIED FINANCIAL PLANNER™ Practitioner
Retirement is something that all of us hope to enjoy at some point in our lives. It's a time to relax, reflect and spend time with family and friends. However, for many of us, the idea of retirement can seem like a distant dream. With...
Read MoreWhat to Do When You Win the Lottery: Tips for Making The Most of Your Winnings
Congratulations! You won the lottery! Now what? Should you quit your job and travel the world, buy a mansion, or start your own business? Alright, alright, I know this is exciting, but let's take it easy. While winning the lottery can...
Read MoreKeep Your Identity Safe: Protecting Yourself From Identity Theft Online
Identity theft is all too common these days, and we're all vulnerable to it. Whether it's malware, phishing, or simply leaving your personal information out in the open, there are many ways criminals can steal your identity in the...
Read MoreHow to Buy Your Dream Vacation Home
Everyone dreams of owning a beautiful vacation home, a place where they can escape from the daily grind and retreat to a peaceful sanctuary. People often invest their hard-earned money into buying these homes, which can provide years...
Read MoreGet Your Finances in Order with These 5 Steps
Finances can be overwhelming, especially when you have a lot on your plate. One of the most common challenges people have when they come to us is feeling completely disorganized. A lot of times we find with married couples, one spouse...
Read MoreTo Buy or Lease a Vehicle- Discover the Best Option for You
Buying a car is a significant investment. With so many options and considerations, it can be overwhelming to make the right choice. Buying or leasing. It is a popular debate. Each has its pros and cons, making it challenging to decide...
Read MoreWhat is a Coverdell Education Savings Account and Why Do I Need One?
The cost of education has risen dramatically in recent years, and it can be a significant burden on both parents and students. However, there is a way to save for education expenses that can help reduce the financial pressure: a...
Read More5 Steps to Achieving Financial Freedom
Achieving financial freedom may sound like a daunting task, but it is achievable with the right mindset, actions, and dedication. Financial freedom means having enough wealth and resources to do what you want without worry or stress....
Read MorePaying off Your Student Loans One Step at a Time
Student loans, without a doubt, can be incredibly overwhelming. Whether you are a recent graduate or have been out of school for a while, the weight of monthly loan payments can be a financial burden. But, rest assured, there are ways...
Read MoreThe Ultimate Guide on How to Keep up with Inflation
Inflation is a silent thief that slowly eats away at our hard-earned money. Whether it's at a slower rate or a full-blown economic crisis, there's nothing more unsettling than the feeling of losing purchasing power. But fear not,...
Read MoreThe Art of Generosity: How to be a Generous Giver
Giving back is one of the most rewarding things that we can do as human beings. There is something deeply fulfilling about helping others and contributing to the well-being of our communities. However, being a generous giver is not...
Read MoreIs it Still a Good Time to Buy a House Even with High Interest Rates?
Buying a house is one of the biggest decisions in anyone's life. Whether you are a first-time homebuyer or on the lookout for your second or third home, owning a house is a significant investment. When it comes to buying a house, there...
Read MoreHow to Save on Subscriptions
In this day in age, just about everything is one click away, thanks to the internet. We can read books, watch movies, and listen to music without even leaving our homes. The only downside is that we’re often required to pay...
Read MoreHow to Stop Wasting Money: A Beginner's Guide to Financial Management
Money is a precious commodity. Whether you are an individual or a family, it is important to use it wisely. In today's fast-paced world of instant gratification, it is easy to get carried away with overspending and credit card debts....
Read MoreThe Power of a Legal Will: Protecting Your Legacy and Loved Ones
No one wants to dwell on the thought of their own passing, but it's an inevitable reality of life. As disconcerting as it may be, planning for the future is essential if you want to protect your loved ones and your legacy. This is...
Read MoreHow to Plan and Save for Your Children's College Education
As a parent, you want to provide your children with the best possible opportunities, and a good college education is a sure path to a bright future. However, college tuition rates have skyrocketed in recent years, and it's becoming...
Read More5 Benefits of Whole Life Insurance
Life insurance is a key component of personal financial planning. It provides financial protection to your loved ones in case something happens to you and you're no longer around to provide for them. While there are many types of life...
Read More5 Financial Planning Tips for Pre-Retirees
As we get closer to retirement age, it is essential to ensure we are well-prepared financially. There are some things we need to do to make sure our finances are in order. With life expectancy increasing and medical expenses also...
Read MoreOverwhelmed by Student Loans? Here's What You Can Do
Today's blog contributor is Kurt Whitesell, CFP®, Senior Advisor out of Summit's Rapid City, SD branch office. A few weeks ago, while playing some golf, I was visiting with a young couple. They were well-paid professionals who are...
Read More2023 Super Bowl - By the Numbers
The Super Bowl is the most anticipated event in American sports and one of the biggest events in the world. Every year, hundreds of millions of people around the world tune in to watch two teams battle it out for NFL supremacy. But...
Read MoreKurt Whitesell: The Challenges of Today
When I read the world and National news, I find my attitude being manipulated by mainstream media and the hopelessness of the world. SCREECH!!!!! Hold on a minute!!What can be so terrible? Aren’t there two sides to every...
Read MoreKey Milestones to Remember for Retirement
In your early working years, you probably aren’t thinking much about your retirement. You are working hard, trying to support a family, maybe pay down debt, payoff student loans, etc. As you arrive at your 40s or 50s, however,...
Read More5 Ways to Make the Most of Your Tax Refund
Tax season is here, and many Americans are excited to receive their tax refunds. For those that do receive a refund, it can feel like an unexpected bonus rather than simply the IRS returning what you overpaid in taxes that year. But...
Read MoreHow Can I Align My Personal Values With My Investment Portfolio?
How can I align my personal values with my investment portfolio? If this is a priority, then you want to be familiar with two terms: impact investing and ESG investing. How our dollars are invested can make an impact on the world.
Read More5 Life Stages of Financial Planning for Women Investors
Women encounter a variety of unique circumstances which impact their ability to save for retirement. Specifically, career pauses for life changes and lower pay than male counterparts make saving for retirement a challenge. Whether...
Read MoreTop 10 Brilliant Money-Saving Tips
In 2022, recent studies now show 64% of Americans are living paycheck to paycheck. As the cost of living continues to reach historically high rates, gas prices hitting record highs, and the threats of an economic recession, it is now...
Read MoreWhat is a Fiduciary Financial Advisor?
A term growing in popularity in recent years in the financial advisory industry is the term “fiduciary”. If you’ve never heard of it, it is a good one to know. What is a fiduciary? A fiduciary is any...
Read MoreHow to Retire Now-ish
This blog will begin with a checklist of questions you need to address to help put you in a place to retire. Then we will walk through each of those questions in more depth to help you feel more comfortable with your retirement plan.
Read More6 Steps in the Financial Planning Process
Too many people live each day without the clarity of a written financial plan. In this blog, we look at the 6 steps in the financial planning process so you can start creating a financial plan today!
Read MoreTop 5 Retirement Communities in Florida
Updated 6-22-2022 Being in the business of retirement planning, one of the topics we often talk about with clients is retirement living. As we continue our content series #RetiringWithPurpose, today we'll talk about the all-important...
Read MoreThe Top 5 Things Wealthy People Do to Build Wealth
Helping people on their wealth-building journey is what we do every single day. Today we are going to cover 5 observations about individuals who take building wealth seriously. For those of you reading this who might be on your own...
Read MoreWhat is the 4% rule, and does it still apply with record high inflation?
Read More
Why Everyone Needs 3 Savings Accounts - The 3 Bucket Approach
The three-bucket approach is a goals-based financial planning technique that aims to simplify the process for the typical American family. Essentially the way it works is to first consider this: all savings accounts aren’t created equal.
Read MoreWhat should I do with my TSP when I retire?
Perhaps the most common question we receive from our government employee clients is: “What should I do with my TSP when I retire?” It’s a great question, and one we will address in this blog post! The question...
Read MoreSuper Bowl Trivia (So You Sound Smart At Your Super Bowl Party)
Read More
Business Owners: Your Why Isn't the Reason People Buy Your Product
Read More
Newlyweds: What To Do if Combining Bank Accounts Just Isn’t Working.
Read More
The Great Resignation | Employees: Here's How to Prepare for a Resignation
Read More
Answer These Questions to Jumpstart Your Stagnating Business in 2022
Read More
Happy 400th Birthday, Thanksgiving! 3 Valuable Lessons from the First Thanksgiving
It was the year 1621 when the Plymouth colonists and Wampanoag Native Americans shared an autumn harvest feast that is widely acknowledged as the first Thanksgiving celebration in our country’s history. That means this marks the...
Read More6 Steps to Meet Your Savings Goals in the Coming Year
New Year’s resolutions are popular. People love the thought of a fresh start – “New year, new me.” It’s like a giant reset button, and we all have the opportunity to better ourselves in some way. Sadly,...
Read More4 Financial Tips for This Year’s Holiday Shopping
The holidays are here (believe it or not) and it is time to start planning for the additional expenses that come with it. Here are four ways to help you plan for holiday expenses! 1) Set the money aside For many married couples, one...
Read MoreWhen Should You Start Withdrawing From Social Security?
As you inch closer to your golden years, you'll likely start thinking about how to take care of your financial needs as an older adult. Social Security may prove a significant help, but you must have a withdrawal strategy to make the...
Read MoreNew Job? Make These 4 Financial Decisions Immediately
When you start a new job, don't let your excitement keep you from setting yourself up for financial success with your new employer. The financial planning experts at Summit Wealth Group are here to help you sharpen your financial...
Read MoreGovernment Employees: How To Choose the Right Investments in Your TSP
The Thrift Savings Plan is a tax-deferred retirement savings plan offered to federal employees and members of the U.S. military. The TSP gives employees the same benefits as many private-sector retirement plans while providing...
Read MoreChanges to Student Loans in January
Since the beginning of the pandemic, federal student loan payment requirements have been paused for eligible borrowers with interest and collections likewise suspended. With pandemic student loan relief ending on January 31, though,...
Read More5 Creative Ways to Save for Your Child's Education
Raising children is expensive, and costs only increase as they reach their teen years. Funding your children’s education is a worthwhile endeavor, but paying for tuition, books, and living expenses can quickly become impossible...
Read MoreHow Our Response to Failure Can Bring Us to New Heights
American author and evangelist Robert Schuller once posed an interesting question to consider: “What would you do if you knew you could not fail?” If you are like me, you might be quick to say “jump off a cliff”...
Read MoreThe Most Common Misconceptions Our Advisors Notice With New Clients
In today’s blog post we look at some common misconceptions clients have when they first meet with our advisors. We asked three of our advisors to answer the question, what is the most common misconception they see with new...
Read MoreA LAYMAN’S GUIDE TO IRAS
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...
Read MoreSaving for Retirement. Simplified.
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!
Read MoreThe New You! Learning a New Skill in Retirement
As financial planners, our job is often seen as helping people navigate through the financial aspect of retirement. However, we are the first to admit that a vibrant, meaningful, successful retirement goes far beyond finances. With...
Read MoreHow Criminals Use Social Engineering to Scam Us
A big risk to businesses and individuals alike, social engineering involves exploiting bugs in our “human hardware.” In person, over the phone, or via e-mail, criminals draw on social engineering techniques to evoke...
Read MoreFinancially, Are You Doing Your 30s Right?
When it comes to money it can often feel like we have no control. Your income is what it is, your expenses are what they are. However, these 4 items are all within your control and can...
Read More3 Ways to Prepare for Your First Meeting with a Financial Advisor
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...
Read MoreHow Women Can Protect Themselves Financially in a Divorce
We’ve walked many clients through the financial challenges of divorce and have compiled a few tips for women who might be finding themselves in the process...
Read MoreGive yourself some credit!
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...
Read MoreWhat a Human Financial Advisor Offers That Acorns, Betterment, or Wealthfront Cannot
When it comes to your finances, try to consider possible future situations you could find yourself in, and ask yourself if you would rather have a professional or an automated platform to assist you in your decision-making...
Read MoreStick to the Trail
Whether climbing a mountain or saving for retirement, we have to journey out into the great unknown. Embarking into the unknown can cause uncertainty, even with a good plan and a worn path ahead. It takes a lot of work to prepare but...
Read More3 Life Lessons from my Great Aunt Pansy
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...
Read More5 Ways to Avoid a Financial Scandal
How to protect yourself from a "get rich quick" scheme that is actually a “go broke” scheme in clever disguise...
Read MoreDoes Money Buy Happiness?
I think the link between money and happiness is the same as the link between relationships and happiness. It comes down to how we deal with the “bad” and whether or not we choose to appreciate the “good”.
Read MoreHow to Teach Young Kids About Money
Teaching your kids about money can start at a very early age. We recommend starting at age 3 or 4 (when they start learning how to count) because it is at this early stage when they can begin to learn some very basic concepts about the...
Read MoreHow to avoid getting back in debt after finally climbing out
The use of debt is sometimes necessary, and sometimes beneficial. However, in our professional we often see the impact that debt has on the emotional well-being of individuals, particularly the use of certain types of consumer debt...
Read More3 Things Bankruptcy Filers Have in Common
There are few things that are as overwhelming as insurmountable debt. Being in debt can feel hopeless for some. In fact, according to a 2013 study published in the journal Clinical Psychology Review, those who died by suicide were...
Read MoreThe Case for Boring Investing
Ever felt a case of FOMO when it comes to investing? FOMO (the fear of missing out) is a common occurrence in the investment world. It’s hard to avoid it. Here are some examples of times when you might have felt like you blew a...
Read MoreThinking About Traveling Again? Here's What to Expect
At Summit Wealth Group, we are passionate about seeing our clients reach their financial goals. Life often calls for a break from the norm. A reset or refresh if you will. This is why we love to see our clients getting out and...
Read More7 Habits of Affluent People
You can learn a lot about the way a person spends their free time. Whether it is being with family, fishing out on the lake, taking a trip to the beach house, hitting the golf course — the way a person chooses to spend their free...
Read MoreHow to Keep A Budget
What is budgeting? Ask a few people and you might get a few different answers. The reason is because cash flows in and out of your account whether you are intentional about the budgeting process or not. Cash flow management, or...
Read MoreShould I Invest in a ROTH or Traditional IRA?
We get the question a lot from clients of all ages and walks of life of whether they should contribute to a Roth or a Traditional IRA. Everybody’s situation is unique, but there are some things we can consider:Current ageInvestment...
Read MoreHow Should I Cover My Child's College Expenses? Here are 3 Options.
Having kids is the most incredible gift I’ve been blessed with. I have two little girls and another child on the way, and the amount of joy they bring to our lives is simply indescribable. One thing they don’t tell you...
Read MoreIt’s Better to Prepare than Repair
We survived the snowmageddon of 2021. I’ve been in CO since 1976 and have seen quite a few spring blizzards. They arrive (used to without a lot of fanfare), dump a bunch of snow, create massive drifts and wreak havoc on travel...
Read MoreWhen Should I Start Collecting Social Security?
A question we often receive, and one that is deeply intertwined within our financial planning process is the question of “when should I start collecting Social Security? Social Security is something we pay into throughout our...
Read MoreWhat age can I retire?
What age can I retire? It's a common question and one that people would love to type into Google and have it kick out a quick answer. Unfortunately the reason we have a hard time finding a straight answer to this question is because...
Read MoreA Beginners Guide to Budgeting
Starting a budget can be hard. Keeping a budget is even harder. But it doesn’t have to be. Today we want to talk to those of you who have had a hard time keeping a budget over the years. Today we will simplify it for you so it...
Read MoreValentine’s Day on a Budget
Valentine’s Day is right around the corner and it’s been a long year. You deserve to spoil each other. Buy that special gift if your budget allows it. For some couples, the most romantic gift they can give each other is the...
Read MoreGot a Startup Idea? Here's How to Launch It!
Owning and operating a business can be complex but starting one doesn’t have to be! If you’ve ever had a business idea the thought of starting the business might be overwhelming to one who has never done it before. In...
Read MoreHow to Stick to Your New Year’s Resolutions
Every year we make new resolutions for the New Year and every year we struggle to keep them. Research shows that 75% of resolutions will be continued through the first week of January and only 8% make it the full year. Oof. Popular...
Read MoreNewly divorced? Here’s what you need to know this tax season.
Did you recently go through a divorce? As your marital status changes, so does your tax situation. Don’t panic, we are here to help. Keep in mind, in 2020 we saw the tax deadline extended due to the pandemic. We do not anticipate...
Read MoreWork From Home? 5 Tips for Work / Personal Life Balance
Working from home is something that many of us have had to adapt to over this past year, and it’s something the majority of business owners believe is here to stay even after the pandemic. It is interesting to see how the...
Read MoreImportant Considerations When Forming Dental Partnerships
The Formation of a Dental Partnership What is a partnership? A partnership is a legal business entity in which each business partner has an equal or proportional ownership of a business. This typically means an equal ownership of the...
Read MoreWhat the Pandemic Has Taught Us About Investing
To say this past year has been a strange one would be an understatement. Many would label 2020 as the year they would prefer to forget. However, life’s biggest lessons can come out of challenges, trials and heartache. So...
Read More4 Secrets of Happy Retirees
4 Secrets of Happy Retirees We see a common theme amongst our happiest retirees. If happiness is what you’re seeking in retirement, consider using the happiest amongst us as a template for how to live out your retirement years....
Read More6 Ways to Save Money on Life Insurance
6 Ways to Save Money on Life Insurance How can you save money on life insurance? Believe it or not, there are ways you can save. Let’s look at 6. 1) Buy term Term life insurance vs whole life or universal life is a popular debate...
Read MoreThe Case for High Wage Earners Using Roth IRAs
The Case for High Wage Earners Using Roth IRAs Roth contributions are a popular choice for retirement planning for a number of reasons. However, some people try to make the case that high wage earners should prioritize traditional IRA...
Read MoreWhat Should I Do In Retirement?
What to do in retirement - Guide to Retirement Planning Part 1 What to do in retirement? Let’s take a look. This is the first part in a series of common retirement planning questions we get. If you are not sure what to do or how...
Read MoreGuest Blog - Michael R. Helbert
Our guest today is Michael R. Helbert, Esq. Michael is a managing member and a Trusts and Estates and Business Attorney engaging in both transactional and litigation matters at Arrowood Helbert PLLC. If you are in need of an estate...
Read MoreGuest Blog - Tom McFarland
Our guest today is Tom McFarland. Tom is an Office Manager at Allstate in the Scottsdale, AZ area and specializes in property and casualty insurance. If you are in need of home or auto insurance, give Tom a call! We’ve dropped...
Read MoreGuest Interview: Cassandra Leivas, Realtor
Our guest today is Cassandra Leivas Cassandra is a realtor in the Scottsdale, AZ area with Realty ONE Group www.cassandraleivas.com and specializes in Residential Resales. If you are looking to buy or sell property, check her out....
Read MoreThe Secret to Financial Success
We have many things to take care of and worry about in our day to day lives. What seems to be unlimited tasks in one day or week, makes it difficult to prioritize some important things. Not to mention, in a technology driven society,...
Read More3 Tax Planning Moves to Make Yet This Year
We are now well underway into 2019, however, it isn’t too late to make some tax planning decisions that will make next tax season a little less dreadful. When you filed this year, you might have seen a significant change in your...
Read MoreThe Most Overlooked Component of Building Wealth
Today we are going to look at a key component to building wealth that is often overlooked. I’m going to share this in one sentence, and then I’ll explain some important caveats to what I’m about to say. Check this...
Read More4 Different Savings Accounts Everyone Should Have
Saving money can mean different things to different people. Some of us are inclined to save for a rainy day. Perhaps you have 3-6 months of monthly expenses already set aside, but maybe your retirement savings is lacking. Today...
Read MoreCan I Afford to Have Children?
Raising children is one of the most rewarding, most life-fulfilling jobs many of us have been tasked with. And while the experience is invaluable, the actual cost of raising children is something that should be considered when mapping...
Read MoreHow Much Does a Divorce Cost?
Coming to the decision to file for divorce is never easy, but at times it is unavoidable. As CPAs and financial professionals, we thought we would shed some light on what the cost might look like so you can begin to plan for a better,...
Read MoreHow Much Should I Save For Retirement (Specifically)?
“How much should I save for retirement?” It might be one of the most common questions we get here at Summit -- and rightfully so. It’s a big question. This is why, when you ask 10 financial advisors, you’ll...
Read More5 Self-Care Tips to Adjust to the "New Normal"
Over the past few months we have all been stretched and squeezed into a new form of “normal”. For me, balancing working from home, raising children, and setting aside time for myself has been a challenge. Here are 5...
Read MoreIs Day Trading a Good Idea?
Updated 6-11-2020 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...
Read MoreFinancial Habits of Successful People
There’s a lot of wisdom to be had by studying the day to day lives and financial decisions of everyday folks who just seem to be successful in whatever they touch. You know the ones. They work a regular 9-5 job, they aren’t...
Read MorePlanning that Post-Coronavirus Summer Vacation? Here are some tips!
We all could use a vacation. Am I right? The coronavirus has plagued our nation since early March and no one knows when we will get back to "normal". However, let's dream a little bit. Someday (hopefully soon) the economy will open,...
Read More4 Financial Opportunities in 2020
To say the stock market has been on a wild ride the past couple of months would be an understatement. We can attribute it to the economic impact of the coronavirus, but the dust hasn't settled yet. Until we know more, much of what...
Read More6 Specific Ways to Organize Your Finances During Quarantine
Being quarantined has forced a lot of people into doing something they may not otherwise be used to: slowing down. Seeing people around the country using their quarantine time to build forts with their kids, have popcorn and movie...
Read MoreMillennials: Here’s what to do with that stimulus check
On Friday, March 27, President Trump signed a massive $2 trillion-dollar stimulus package to provide some financial relief for business owners and individuals across the country who may be feeling the financial effects that the...
Read MoreTime to Plan a Money Saving Day
When was the last time you spent an entire day looking at your budget? “A day?” Yes, a day. We are living in such a fast paced society. Time is one of the most precious commodities, and yet no one seems to feel like they...
Read More3 Easy Steps to Spring Clean Your Finances
As we roll into the spring season and the weather starts to get a bit warmer, you might be thinking of doing a little spring cleaning of your home. This usually consists of boxing up clothes you haven’t worn in years for Goodwill...
Read MoreShould you sell or rent your home?
If you are looking to purchase a new home, you might be torn between selling or renting out your current home. If you’ve never been a landlord before, you need to be sure you know what you’re getting into. The thought of...
Read MoreWhen does it make sense to buy mortgage points?
If you are in the market for a new home, or a refinance, you will eventually be asked by your lender if you wish to purchase mortgage points, or discount points. In this article, we will take an in-depth look at mortgage points. First,...
Read MoreDo You Lie to Your Financial Advisor?
An interesting stat was reported by Investopedia recently. It said that 30% of affluent millennials have lied to their financial advisor about their savings and spending habits. The reason? According to the study, 34% said the reason...
Read MorePractical Tips for Sharing a Budget With Your Spouse
Let’s face it, sticking to a budget can be challenging enough by yourself. Forcing yourself to have the self discipline to not only come up with a spending plan, but following it despite the many temptations that come our way is...
Read MoreAre We Worried About a Recession in 2020?
It’s 2020 and talks of recession have been in many investors' minds over the last several months. Our economy faces a lot of headwinds. We see political challenges, impeachment talks, trade deals, unrest in the middle east. Then...
Read More5 Benefits of Gardening
This spring, if you have the space, consider gardening. There are so many benefits to it, and we are about to explain 5 of them. 1) Physical health benefits Studies show that gardening counts as your exercise for the day. In fact, the...
Read MoreWhat Are You Thankful For?
What are you thankful for this Thanksgiving season? At Summit, we have a lot to be grateful for this year. As a company we have been blessed to see another year of rapid growth. We've seen our team gelling like never before, despite...
Read More4 Ways to Financially Recover from a Divorce
If you or someone you know has recently been through a divorce, this article will be an important read. Today we are going to look at 4 ways to recover financially from a divorce. 1) Control the things you can control The reason we...
Read More5 Ways to Get Through Christmas Without Going Broke
It’s the most wonderful time of the year! Families around the world will celebrate by lighting their homes with Christmas lights, decorating a tree, singing carols and roasting chestnuts over an open fire. It is also tradition...
Read MoreMillennials: Here's how to define your financial goals
When you meet with a financial professional, chances are, the first question they will ask is: what are your financial goals? As a matter of fact, type in “financial advisor in my area” into Google and visit the top 2 or 3...
Read MoreJust Received a Large Inheritance? Do These 5 Things Immediately!
Have you recently received an inheritance? This can be a life changing, pivotal time for individuals. Not only can this have a massive impact in your financial lives, it can often come attached with deep feelings and emotions. Here are...
Read MoreThere’s cash sitting out there, and it very well could have your name on it.
Imagine this. It's a normal day. You wake up, go to work, grab your coffee, sit down at your desk and open your computer. Browsing through the news, you see an article talking about unclaimed money sitting with the state government....
Read MoreWhere to find health insurance if you’re self-employed
Being self-employed has many benefits. You set your own hours, you answer to yourself, you have the freedom and flexibility to set your daily schedule as you wish. However, along with the benefits comes an equally long list of...
Read More5 Things For Your November Financial Checklist
As we approach the holiday season and end of year, now is the time to start thinking about how to close out the year strong financially. There are some tax considerations, as well as some financial planning ideas which you would be...
Read MoreWhich of These 6 Money Personality Types Are You?
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...
Read MoreHow to Teach Your Toddler About Money
In our experience, we find the wealth building journey, is less about head knowledge and more about our relationship to money. My wife’s grandmother was a saver. She grew up on a farm and lived frugally. My mother-in-law once...
Read MoreIn Your 30s, Which Debt Should You Pay Off First?
Building wealth doesn’t happen for most of us overnight. It’s a lifetime of hard work, combined with good decision-making and self-discipline. It starts early, learning and developing a savings-first mindset. Accumulating...
Read MoreShould I Pay Off Debt Before Contributing to a 401(k)?
This is a great question, and one that was recently asked of Dave Ramsey featured in an article for Fox News. You can see his full response here. To summarize Dave’s response, he essentially says he supports taking a year or two...
Read MoreIn your 30s? Here’s how much you should save for retirement.
It can be challenging to receive a straight answer when you ask this question from a financial advisor. And the reason is because it can be a deeply personal question. Retirement looks different for each person and, therefore, what...
Read MoreThe False Summit
My wife and I love hiking. Having lived in Arizona for a number of years, and traveling to different countries and states with beautiful landscapes, it has become one of our favorite pastimes. When most people go on vacation, they look...
Read MoreWhy Do I Need Mortgage Insurance?
Private mortgage insurance (often referred to as PMI) is one of the necessary evils for individuals trying to buy a home with a down payment under 20%. How it works: First time home buyers often get confused between homeowner’s...
Read More4 Keys to a Happy Retirement
As we continue our #RetiringWithPurpose content series for 2019, today we’d like to talk about something almost everyone strives for in retirement: happiness! While it will vary for each individual, there are some common...
Read More15 Best Financial Decisions for your 30s
Today we want to look at the 15 best financial decisions you can make in your 30s. How many of these have you already done? Own a home instead of rent - Real estate is historically a fantastic investment and a built in savings plan...
Read MoreWhat Retirement Is and Is Not - Part 2
Last month we talked about 3 common misconceptions about retirement. Today we'll pick up where we left off. Now that we’ve addressed 3 things retirement is not, let’s look at 3 important truths about retirement! 1) A New...
Read MoreWalked Through a Cemetery Lately?
Cemeteries are incredible places. When was the last time you visited one? It may sound a bit morbid, but I recently walked through a cemetery for no reason other than I wanted to experience the stunning silence and imagine the stories....
Read MoreWhat Retirement Is and Is Not - Part 1
Did you know there are approximately 10,000 people retiring every day? The Baby Boomer generation started reaching the retirement age of 65 back in 2011 which means we are now in full swing. With this many people retiring every day, it...
Read MoreEco Investing? How Clients of Summit Can Align Their Portfolios With Personal Values
You’re likely aware of how specific investments in your portfolio relate to your overall financial goals. But did you know that your investments can also reflect your personal values? Environmental, social, and governance (ESG)...
Read More2018 Market Drawdown: Is This Still Normal?
As we approach year-end, the market continues to drop. Plus, the major U.S. stock market indices are now in or approaching bear market territory (i.e., down 20 percent or more). As such, there is a real concern that this drawdown...
Read MoreThoughts on the Stock Market Swings
The stock market has been on a wild ride these past several months. Before Christmas we saw the worst week of trading since 2008 and we were on track for the worst December on record since the Great Depression, which understandably had...
Read MoreHow To Make The Most Of Your Encore Act - Ken Long
How much thought have you given to the idea of what an "active retirement" will look like for you? Does it look like hours of fun on the golf course? Does it look like a cruise to the Mediterranean? Is it an entire reading of all the...
Read MoreIt May Be Time to Reconsider What Retirement Means to You
Whether you’ve been told you should retire at 62, 65, or some other age, only you can decide what is right for you. In fact, you may want to reconsider retiring at all––at least in the traditional sense. Many of us...
Read MoreVideo: EPIC Retirement
Epic Retirement from Summit Wealth Group on Vimeo.
Read MoreNew Year’s Resolution for Retirement Planning at Every Stage of Life
As we look at a timeline of someone’s life, allow us to paint in broad strokes in regards to our observations. Age: 20s and 30s We generally find that in one’s 20s and 30s, individuals are often not thinking much about...
Read MoreThe Prosperous Retirement Reflections
In his book “The Prosperous Retirement: Guide to the New Reality”, Michael K. Stein, CFP® was among the first to discuss the non-financial factors that contribute to, or detract from, a successful retirement. Mr. Stein,...
Read MoreSharing your Legacy
During the holiday season many of us find ourselves spending extra time with our families and close friends. Whether you spend your time together laughing about the years past, playing games, or watching a favorite Holiday movie, this...
Read MoreHow QCDs Could Be Just The Strategy You've Been Looking For In Retirement
As we look to implement specific financial planning techniques with our clients, one strategy we often look to is something called a qualified charitable distribution, or QCD. First we will talk a bit about what a QCD is, then...
Read MoreMillennials Dream Big, But Do They Have a Plan?
In a recent study performed by Charles Schwab, millennials were asked when they plan on retiring. The average answer? Age 60. Interestingly, this is 7 years before they would be eligible for full social security benefits. Yet, the...
Read MoreFinancial Plan vs. Financial Planning
A financial plan can also be referred to as a financial roadmap. In a recent blog by Nate Archuleta, he draws a parallel between the trips he and his wife take to Telluride, Colorado, to financial planning. He talks about the...
Read MoreA plan for everything, a plan for everyone
Each year, my wife Nicole and I plan a road trip to the southwestern corner of Colorado to enjoy great blues music and the unparalleled beauty of the San Juan mountains. We begin months in advance, giving each other a wink and a nod to...
Read MoreTurns Out You CAN Buy Happiness -- Here's How
Can money buy happiness? According to the age-old adage, the answer is no. However, I am about to explain exactly how purchasing happiness is not only possible, but very attainable — and affordable! In 2006, a team of biologists...
Read MoreRetirement; an Unnatural Condition
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...
Read MoreHow To Teach Your Child to Budget Early On
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...
Read More5 Ways to Keep Money From Ruining Your Marriage
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...
Read MoreAre You Getting the Best Return on Life You Possibly Can?
When it comes to investing, the current standard of return on investment (ROI) can be self-limiting, adding pressure that is counterproductive. So much of ROI is not within our control. We can diversify investments––always...
Read MoreHow to Graduate Debt Free
Seems like a foreign concept, doesn’t it, graduating debt-free? The average debt of the class of 2017 students finishing their undergraduate degree was $39,400, and 88% of students attending a for-profit school graduated with at...
Read MoreQ&A With Evan and Julie -- New Retirees
Tell us a little about yourselves so we can get to know you! I spent virtually all my live as government employee. So, I guess it’s fair to say I never had a real job. All kidding aside I spent about 40 years in law enforcement....
Read More5 Trending Travel Apps for Your Summer Trip
Top 5 Summer Travel Apps for 2018 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 2018. Hopper Price: Free Purpose:...
Read More3 Ways to Improve Your Marriage With Your Finances
As we look at the top reasons for divorce, you’ll find almost any study shows that "financial reasons" consistently make the cut. It turns out compatibility in relationships extends beyond personality types. When couples are not...
Read More5 Essential Financial Tips for College Grads
Hey grad, congrats! You made it to the end — or shall we say, the beginning! Assuming you just graduated with a traditional 4-year degree and before that attended K-12th grade, you’ve accumulated about 21,600 hours inside a...
Read MoreFirst Time Home Buyers - Your Questions Answered!
Homeownership is a big deal. Finding a house to call your home, moving in, fixing it up, decorating it, making it your own, then building years and years of memories in it is one of the more rewarding things we experience in life....
Read MoreMillennials: A Nerds-Eye Look At Your Retirement If You Started Saving $10 A Day
Millennials get a bad rap, no doubt about it. The stereotypes are generally negative: lazy, self entitled, no drive, no motivation. Generally people think of Millennials as the generation of “me”. Are these stereotypes...
Read MoreGreen with S&P Envy
Growing and protecting your hard-earned assets takes time, energy, and balanced emotions. At Summit Wealth Group, we feel that investing is simply the vehicle used to pursue a desired lifestyle. Retirement is the main goal for most...
Read MoreHow to Get Out of Your Own Way With Investing
During the week of February 5th, U.S. stock funds saw a record $23.9 billion withdrawn by investors, the worst outflows on record. The Dow Jones dropped 1,175 points that day, the greatest point drop in the history of the stock market....
Read MorePreparing for Your First Baby? Here’s What To Plan For Financially in Year 1
If you are pregnant or are thinking about trying for a baby in the near future, first of all, congrats! What a super exciting time for you and your significant other! You are about to embark on a wild adventure. Speaking from...
Read More5 Things to do in your 20s so you can retire in your 50s
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...
Read MoreNearing Retirement: Should I Pay Off My Mortgage Early?
Today we’ll address a question we commonly receive from our clients — “should I pay off my mortgage early?” This question comes up with clients in many stages of life, but today we’ll look at it...
Read MoreChecklist of What to Talk to Your Aging Parents About
Special thanks to Sarah Willink, Social Worker / Case Manager for Area Agency on Aging of Western Michigan for contributing to this article There is no doubt, one of life’s more difficult challenges comes in caring for aging...
Read More5 Ways to be a Smarter Online Shopper
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 fact, roughly 80% of consumers shop for things online. With...
Read MoreThe Trip That Changed My Perspective
Visiting the barrio of Mexico really puts things in perspective. I had the privilege of going this past weekend with a team of individuals. Our mission: to build a house from the ground up. Start to finish. In one weekend. The kicker?...
Read MoreWhat it Means to be a CFP®!
Many financial professionals might call themselves “financial planners” but it is another thing to become a CERTIFIED FINANCIAL PLANNER™ professional. About this time last year, I was spending what seemed like every...
Read MoreIs Leasing a Vehicle Worth It?
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...
Read MoreHow Venmo Works
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...
Read More10 Mistakes of Retirees – Part 2 of 2
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....
Read More10 Mistakes of Retirees – Part 1 of 2
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...
Read MoreAre We Fiduciaries?
“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...
Read More8 Useless, Yet Interesting Easter Facts
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...
Read MoreWell Compensated Astrologers
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...
Read MoreHow to Financially Transition into Parenthood
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...
Read MoreRetirement Benefits Boosted by 401(k) Plans
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,...
Read MoreA Spirit of Gratitude -- Lessons From a 2-Year-Old
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...
Read MoreWho Needs a Financial Advisor?
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...
Read MoreA Cheat Sheet on Employee Stock Options
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...
Read MoreNew Car Buying
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...
Read MoreHow Hillary and Trump Could Change Your Investment Approach
“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...
Read MoreThe Little Known Tax Benefit of Selling Company Stock
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...
Read More4 Financial Planning Tips Picked From My Garden
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...
Read MoreThe Diversification Deal
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...
Read MoreWhy do You Have to Work, Poppy?
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...
Read MoreThe Best Advice I’ve ever heard about Poverty
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,...
Read More3 Ways to Boost Your Savings
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...
Read MoreGiving Your Way to Financial Contentment
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...
Read MoreA Little Perspective
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...
Read MoreTax Season Follies
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...
Read MoreThe Sliding Markets of 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...
Read MoreWhat About Mom and Dad?
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...
Read MoreHow to Lower Your Golf Handicap to 9.9 - Goal Setting, Hiring a Professional and Perseverance
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...
Read MoreReally Confused
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...
Read MoreHow Your Retirement Picture Can Look Like Havasupai Falls
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...
Read MoreDo Something!
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....
Read MoreHealthcare Regulations Make for Tax Filing Surprises
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...
Read MoreTower of Terror
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...
Read MoreLessons from the Sony Hack
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...
Read MoreDo You Have a Will?
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...
Read More3 Questions That Predict Your Quality of Life
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...
Read More