Life Events

By Paul Morrone CFP®, CPA/PFS, MSA

Looking back at the past 12 months, I bet most can easily think of something they did that was considered a ‘splurge.’ Maybe it was as subtle as an expensive dinner or as in-your-face as a new car, but we are all guilty of spending money frivolously in one way or another… and that’s a good thing! It keeps us happy, sane, and reminds us that hard-work is rewarded by getting to enjoy the finer things in life. Nothing makes me happier than when I talk to my client who bought a new car that they’ve always wanted or just got back from their dream vacation to Europe (or Asia, or Africa, or Disney World).

By Paul Morrone CFP®, CPA/PFS, MSA

You’ve done the unthinkable and made that one big financial mistake that you will remember for the rest of your life. The question is, how to recover from it? Maybe you bought a house that you couldn’t afford and now it’s underwater. Maybe you racked up credit card debt that is now uncontrollable. Maybe you made a bad investment and lost all of your capital, started a business that failed or loaned money to someone who you now know will never pay you back. What are the next steps, what can you do, and how can you right the ship?

By Paul Morrone CFP®, CPA, MSA

For the majority of America, buying a Kim Kardashian sized ring probably isn’t reality and most will quickly learn that money doesn’t go too far when you’re looking at diamonds. There really is no ‘right’ amount to spend on a ring, as long as it is something you can afford (I’m not sure who said two months’ salary was the magic number, but that seems to be an arbitrary benchmark). Whether the cost of the ring you ultimately decide on is equivalent to that of a bicycle or a BMW, the most important thing to remember is that it’s who you’re giving it to that matters most, not the price tag of the ring itself.