Sure, no problem. We realize sometimes chemistry is not right.  Email help@fearlessfinance.com and let us know you’d like to change. If you know who you want to change to, please indicate that. It’s all confidential and your current planner will not know your reasons unless you want to share them.

No problem. We’ll be sorry to see you go, but there are no commitments with Fearless Finance and therefore you can stop any time. You will be asked to pay for any meetings that are outstanding and we part as friends. You can stop while you’re in the initial planning phase or years later or never. And, you can always come back whenever you want. No questions asked and no changes to our fiduciary, no commitment promise.

We don’t know that exactly yet until we start working with you, but typically it takes 2-4 hours spread over 2-3 meetings. Each meeting is about 1-1.25 hours. You are ONLY charged for the time you are actually meeting with your advisor. You are not charged for prep time and you cannot be charged in advance of a meeting. You pay for each meeting after the meeting ends. Our associates charge $260/hour for Initial Planning meetings (the first 2-3 meetings when you’re developing your plan) and $220/hour for all Annual Check-ins or Life Change meetings (e.g. buying a house, having a baby, etc., after your initial plan is developed).

No problem. Email your Planner with the question you have and your Planner will let you know if she can answer it for free by email or if she needs a discussion to allow her to do some analysis. If she needs a discussion, she’s let you know how much time it will probably take and therefore how much it will cost. You can choose to take the meeting or not.

Fearless Finance is a Registered Investment Adviser, regulated by the SEC and we are able to take clients anywhere in the United States and US citizens living abroad. We can under certain circumstances, work with foreign nationals living outside of the US. If you are not a US citizen and NOT living in the US, please email help@fearlessfinance.com for more information.

Every planner at Fearless Finance has taken and passed their Series 65 exam, the NSAA Investments Advisers Law examination, which allows them to function as an investment advisor representative.  Some planners have their Certified Financial Planner (CFP) certification or other certification (e.g. CPA or CSLP(r), etc.) and that is indicated by their name wherever it appears on the site.

You will book your first meeting and pay after the meeting because we won’t know how long each meeting is until you have it. Usually meetings are 1-1.25 hours, and we will charge down to the quarter hour so if you run a few minutes over an hour, you will only be charged for an hour and a quarter. You can pay by Venmo, Zelle or check after your meeting. Your planner will give you the specifics.

No. You will not be charged for ANYTHING except the time you spend with a planner in a meeting. We will charge down to the quarter hour so if you run a few minutes over an hour, you will only be charged for an hour and a quarter. If you have a quick question by email (e.g. “My employer is offering a Roth 401k option now, should I do it?”), you can email your adviser and it will be FREE. If your adviser indicates it is a more complicated question that requires discussion, your adviser will tell you how long it should take (e.g. “we probably need 15 minutes to discuss this”) and you can decide if you want to do it or not.

If you are not going to take a specifically advertised deal, make sure you go in knowing the price you are willing to pay and don’t deviate. Look for cars that are less popular. They don’t deal on models that everyone wants.
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In financial planning, “fiduciary” can mean different things to different people. A fiduciary is a person who is a trustee for someone else’s assets (usually, money). A fiduciary planner must act solely in the client’s best interest with regard to financial planning advice. That means a fiduciary is NOT trying to sell you a financial product that he/she collects commission on just to make the commission. It also means that he/she is giving you advice that might mean you have fewer assets for them to manage. It’s hard for anyone to go against their own interest for someone else, that’s why it’s best to have an advisor with NO conflicts that is paid by the hour. 

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#money #cash #wealth #dollars #invest #savings #fiduciary #financialplanner #financialplanning #budgeting #savingmoney #personalfinance #personalfinancebywomen #financialadvice #debt #transparency #investment #investing #finances #finance #moneyadvice #savemoney #moneytips #finances #finance #retirement #retiring #invest #assets #goodadvice

Here are some tips to get started: 1) Whatever bank account you choose, MAKE SURE you aren’t paying any fees. There are too many great free options out there to justify a monthly fee. 2) For your savings account, try to get a High Yield Savings Account (HYSA). Traditional bank savings accounts have paltry interest rates. ⠀

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For your credit card, you also want a free option–especially for your first card. Keep in mind that you might not be able to get a card with great perks, depending on your age of credit and credit score. If you’re still in school, you could get a student credit card (that usually comes with a low credit max). If you’re out of school and can’t get approved for a normal credit card, consider a Secured Card to help build your credit. ⠀

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Net Worth is a “fancy” term for the difference between your total savings and your total debt. The higher your net worth, the better saved you are for life and the future. Negative net worth means you have a lot of debt.  List all your balances in your savings accounts, retirement accounts, brokerage accounts, and the worth of your property (if you own your home). Then add all those balances up. List all the balances in your debts like your mortgage, student loans, credit cards, and car loans. Add the balances up. Subtract your debt from your Savings and that’s your Net Worth. #networth #positivenetworth #debt #assets #savings #retirement #retirementsavings #emergencyfund #creditcards #creditcarddebt #dfc #debtfreejourney #retirementaccount #retiring #investments #investing #fearlessfinance #financialplanning #financialplanner #personalfinance #money #moneyadvice #moneytips #savingmoney #savemoney #spendingmoney #highnetworth #buildingwealth #wealth #wealthy

Many of us have old legacy 401ks from previous employers. Should you roll them over? The answer is twofold.

1. Are there extra fees that you are paying to administer this old account since you are not employed there anymore? If so, definitely roll over the account to eliminate or reduce those fees.
2. Is it annoying or confusing to have lots of different accounts? If so, it’s worth reducing that administrative burden to roll over old accounts so that you can manage them in one place together.

Each case is different, but here are 3 general rules of thumb for contributing to retirement.

1. Always make sure you contribute AT LEAST enough to get your match
2. Make sure you are contributing 15% total (your contribution plus your employer’s match)
3. Contribute the maximum amount to your retirement plan

#retirement #retiring #retirementplanning #retirementaccount #investments #investing #investmentaccount #retirementsavings #savingforretirement #IRA #401k #TSP #403b #Roth #rothIRA #fearlessfinance #financialplanning #financialplanner #moneyadvice #moneytips #money #personalfinance #savingmoney #savemoney #buildingwealth #wealth #taxes #yolo #fomo

#1 tip for getting rid of credit card debt: Don’t use a card that has a revolving balance. Make sure you have a card that you pay down to zero each month, use it if you need to use a credit card, or use a debit card or cash. Don’t use a card that has revolving debt, you’ll never get it paid down.

Yes, and No. Yes, it matters a lot when you are trying to get a mortgage, rent a property, or buy a car. Yes, it can be one attribute of many to determine financial health, but NO it is not something that you should spend too much time worrying about. It matters only if you need a loan or are renting something. Your financial well-being is way more important than your credit score, and although your credit score can help determine your financial well-being, it’s not the only way. ⠀

#financialplanning #financialplanner #personalfinance #fearlessfinance #finance #money #moneyadvice #emergencyfund #emergencysavings #rainyday #rainydayfund #savingmoney #savemoney #spendingmoney #creditscore #emergency #cash #creditcard #ccdebt #creditcarddebt #debt #consumerdebt #FICO #credit #creditmonitoring #creditcards #mortgage #autoloan #buyingacar #firstapartment

For Emergency Savings, caused by a total loss of income you should have 3-6 months of your expenses saved in it. This account should be separate from your main checking and savings accounts; you don’t want to be able to see it on a regular basis. ⠀

And, as a final note, all of this money should be in CASH or CASH EQUIVALENTS. It should NOT be invested in the market where it could lose its value in the short-term.
#financialplanning #financialplanner #personalfinance #fearlessfinance #finance #money #moneyadvice #emergencyfund #emergencysavings #rainyday #rainydayfund #annualexpenses #savingmoney #savemoney #spendingmoney #vacations #jobloss #emergency #cash #liquidsavings #retirement #investments #investing #savingsaccount #savings #unemployed #budget #budgeting #monthlyspending #monthlyexpenses

Allowance should NOT be tied to chores. Chores make them a decent human, while allowance teaches how to budget and manage money. If a child does something over and above expectations, such as shoveling the driveway, you can pay them to do that. But in general, for the regular around-the-house chores, those should not be linked to allowance.

Allowance should be split into 3 buckets: Donate, Save, and Spend. You can separate these into different containers.You want your child to make the decision on how much gets spent, saved and donated (with your guidance if necessary). Get your child used to these terms and building these habits – even taking them to the bank to deposit their savings after a few weeks or months.

Here are our first 3 financial steps when dissolving a marriage to get you set up for your new life:⠀

1. Open a new checking account and move your direct deposit to it unless your attorney tells you not to do so.⠀
2. Start an inventory list of your assets like the house, car, computers, furniture, AND bank accounts and debt balances ⠀
3. Start a list of the expenses you will need to take on as a single person and the expenses attributable to the children (if applicable).⠀

Do not start thinking about how things will be split until you are VERY clear on what assets and debt you have. It’s easy to miss something in the “fog of divorce.” Write it down and get help if you need it. That’ll hopefully help make a painful time fractionally easier.⠀

#divorce #marriage #separation #separating #decoupling #consciousdecoupling #family #children #kids #parents #married #divorcing #divorced #financialplanning #financialplanner #personalfinance #personalfinancebywomen #money #moneyadvice #moneytips #difficult #newlife #single #finances #familyfinances #couple #combinedfinances #debt #jointbankaccount #directdeposit

When do prenups make sense? 

1. If you’re bringing significant assets to the marriage, or if you expect an inheritance. 
2. If either of you is bringing in significant debts to the marriage. 
3. If there are dependents involved especially from other unions. 
4. if you are at all concerned about your assets should there be a divorce.

#financialplanning #financialplanner #fearlessfinance #personalfinance #money #moneyadvice #moneytips #finance #couples #partners #compromise #relationships #marriage #fiancé #engaged #engagement #debt #dfc #partnership #divorce #prenup

Only buy a property if you intend to live in it, or own it, for at least 5 years. Otherwise, it doesn’t make sense as you’ll need to pay transaction costs, moving costs, and all kinds of other fees. Make sure you really love a property before you buy it.

You MIGHT be a good candidate for refinancing your student loans if:

🎓 Your loans are private student loans OR you’re secure in your income so you don’t need the privileges that come with federal student loans

🎓 You AREN’T working toward student loan forgiveness. If you consolidate or refinance your student loans, that can make you ineligible for forgiveness programs!

🎓 Your student loan rates average over 5%.

If these don’t all fit your situation, refinancing your student loans is probably not the right choice for you. 

#refinance #studentloans #studentdebt #student #college #university #collegegrad #federalloans #loans #debt #refinancing #consolidation #debtconsolidation #debtfreecommunity #debtfreejourney #graduate #collegegraduate #recentgrad #financialplanning #financialplanner #personalfinance #fearlessfinance #money #moneyadvice #savingmoney #payingoffdebt #payingdebt #debtpayoff #moneytips #education

A tax-sheltered 529 Savings Plan allows you to save after-tax money in an account that compounds tax-free until your child needs it for school:

• Deposits are not deductible on your federal income tax, but many states do offer tax incentives for 529 savings.⠀
• You can deposit at any time during your child’s life, or even before they’re born. You could also create a 529 plan for yourself!⠀
• The beneficiary does not need to be your child. You can change the beneficiary on the account.⠀
• When you withdraw the funds to pay for post-secondary education of the beneficiary, the funds are not taxed in most states⠀
• Education Savings Plans can be used to pay for tuition, books, fees, equipment, student special needs or room/board⠀
• You can enroll in a 529 plan in any state. However, some states have tax benefits for their plan ONLY if you reside in that state.⠀
• If you don’t use the funds for the beneficiary’s schooling, the amount you earned over the life of the account is subject to 10% penalty and is taxed as income.⠀
• Assets in a 529 plan are counted as parental assets when applying for financial aid and therefore part of the Expected Family Contribution (EFC).⠀

#college #529plan #collegesavings #payingforcollege #collegeisexpensive #education #privatecollege #highereducation #finance #personalfinance #financialplanning #financialplanner #fearlessfinance #money #savemoney #savingmoney #moneyadvice #moneytips #family #university #school #taxes #IRS #taxadvantage #529savings #529 #529account #savingforcollege #expensive #goingtocollege

Save as soon as you can into a 529 college savings account or some other savings vehicle. It may NOT be possible to save while you’re also paying for childcare, especially in some areas of the country. This is normal, but as soon as your child is in public school, you have to double down on savings. Try to save HALF of a college degree (adjust for private or public college as you see fit) by high school graduation. You should try to pay for the remainder with current income (income you generate when the child is in college). 

#college #university #collegesavings #529plan #529 #highereducation #collegeisexpensive #savingforcollege #529savings #financialplanning #financialplanner #financialadvice #personalfinance #money #moneyadvice #savemoney #savingmoney #fearlessfinance #goingtocollege #payingforcollege #collegesavings #spendingmoney #expensive #investing #planningforthefuture #children #family #kids #education #school

Typically, you will not receive unemployment benefits if you quit your job, are self-employed, or if you are fired for cause. However, some of those guidelines were tweaked for COVID-19 relief efforts (more on that tomorrow). The benefits are primarily paid out by state governments and funded by specific payroll taxes collected for that purpose.⠀Each state maintains its own system, with its own quirks and hoops to jump through. If you need to apply for unemployment benefits, look for information about your state’s program to figure out your eligibility and options. ⠀

#unemployment #unemployed #jobsearch #personalfinance #financialplanning #financialplanner #unemploymentinsurance #unemploymentbenefits #fearlessfinance #savemoney #money #moneyadvice #moneytips #savingmoney #nojob #underemployed #cash #benefits #selfemployed #payroll #taxes #IRS #paycheck #statespecific #complicated #application #finance #emergencyfund #fired #jobless

If you’re fully self- employed (you don’t have a full-time job on top of your gig work), then you must pay quarterly estimated taxes to both the federal government AND your state, if applicable. ⠀

If your gig work is a side hustle, then you don’t need to worry about quarterly estimated taxes. You SHOULD make sure that you’re withholding enough; if you’re under-withheld significantly, you could be charged a fine by the IRS at tax time. Your employer will typically withhold part of your paycheck for taxes, but they’ll base that on your salary with them. ⠀

#financialplanning #taxes #gigwork #gigworker #freelance #freelancer #sidehustle #gig #IRS #federaltaxes #tax #financialplanner #personalfinance #1099 #quarterlytaxes #HR #humanresources #taxwithholding #finance #money #moneyadvice #moneytips #fearlessfinance #selfemployed #incometax #income #taxableincome #sidehustling #freelancing #contractor

A mutual fund is an investment sold as a unit of an underlying fund. That fund is made up of a group of individual stocks. A mutual fund can be either passively or actively managed. An INDEX fund is a passively managed mutual fund. Index funds hold stocks exactly as they appear on the index the mutual fund is mirroring. That could be the S&P 500, the Russell 3000, etc. Because someone doesn’t have to do the research and legwork to pick stocks for these funds, the expenses are usually much lower than they are for actively managed funds.

#indexfund #indexfunds #sp500 #index #passive #passiveincome #passiveinvesting #investing #investment #personalfinance #financialplanning #financialplanner #money #moneyadvice #moneytips #retirement #invest #retiring #investmentaccount #mutualfund #fearlessfinance #personalfinancebywomen #expenseratio #expenses #savemoney #savingmoney #investingmoney #stockmarket #stocks #stockexchange

A mutual fund is an investment sold as a UNIT of the underlying fund. The underlying fund could be an index fund (holdings reflect a typical index like the S&P 500) or it could be an actively managed fund where a fund manager buys holdings he/she believes will do well over time. An ETF (Exchange-Traded Fund) is a SHARE of an underlying mutual fund. Typically, an ETF reflects an underlying index fund, but it does not have to.  ETFs (shares) allow you to trade during the time the market is open. They typically cost less than a mutual fund, too. Mutual Funds (units) are priced at the close of the trading day and settle overnight before the open of the market the next day. You won’t know what price you are getting until the close.⠀

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#etf #mutualfund #investment #investing #invest #index #indexfund #stockmarket #stocks #stockexchange #sp500 #financialplanning #financialplanner #money #moneyadvice #makemoney #makingmoney #savingmoney #savemoney #retirement #investmentaccount #personalfinance #finance #compoundinterest #trading #market #moneytips #jargon #fearlessfinance