Author: Charles W. Malsbury, CFP

Here is a short list of the most common financial mistakes that I see people make.  If you can avoid most of these, most of the time, you will be on a great path to building wealth and financial well-being.OverspendingThis one is obvious.  If you spend more than you earn, you will eventually start building up debt, and that will...

If you have just started your first job or a new job that offers a 401k, now is the time to kick-start your savings.It’s actually best to save in both your 401k and a Roth IRA, and here are the reasons why.The 401kRegular 401k contributions are before tax, both federal and state.  This means that you will save on taxes...

If you’re a parent or grandparent wondering where to put cash gifts for your kids or grandkids, read on!In this post I’m going to talk about the most common types of accounts used for saving for kids. 529 Plans When many people think of saving for a child, the first thing that comes to mind is the high cost of their future...

In this post I’m going to talk about some of the most common cases where I usually suggest that my clients seek the guidance of a qualified CPA to prepare their taxes. You Recently Sold a Residence Your taxes for the year in which you sell a residence will be more complex than usual.  Although most people are aware that the gains...

Every year people from all over the country and the world, travel to Omaha to attend the annual Berkshire Hathaway shareholder’s meeting.   In this post I’m going to share some of what I learned.  Here are my best tips if you’re thinking of going.Make Your Plans Far in AdvanceThe shareholder meeting always takes place the weekend before Mother’s Day weekend. ...

Maybe you’re thinking about investing with a robo-advisor or are even using one already.   While the idea in principle sounds good, there are some important risks to think about if you’re considering using an online robo-advisor platform.  In this post I’m going to talk about where robo-advice falls short.1 - No Real Financial PlanningDuring the signup process, nearly all robo-advisors...

If you have been working with an advisor for some time, you have probably become used to the high fees and conflicts of interest without even realizing it.In this post, I’m going to talk about bad advisor behavior to watch out for.1 - High FeesIf your current advisor is charging based on a percentage of your assets of 1% or...

Over time, financial complexity begins to enter our lives.  I always encourage clients to simplify their finances as much as possible, because simplifying your financial life will make your life better in the long run.  In this post I’m going to tell you why financial simplicity is important.How can you stay focused on your plans and make good decisions when...

When I was making my decision to buy my 1999 Volvo V70 wagon 15 years ago, safety was the most important consideration.  I keep driving it today because it is the ultimate in durability, utility, and most importantly, cheapness.  In this post I’m going to tell you how this has helped me to achieve financial freedom.Keeping a car for a...