Uncork Your Wealth - Discover the Difference Between HSA and FSA

Uncork Your Wealth - Discover the Difference Between HSA and FSA

The products available to us in the financial and healthcare industry can be confusing. So, with the use of Health Savings Accounts (HSA’s) and Flexible Spending Accounts (FSA’s), we are combining the two worlds and this can be overwhelming when trying to pick a health care plan.

Build Your Wealth by Taking Advantage of Benefits Open Enrollment

Build Your Wealth by Taking Advantage of Benefits Open Enrollment

In this week’s blog, Financial Planner Kate Welker, CFP® defines top benefit terms to help demystify some of the confusing benefit terms.

In the next few weeks, you may open your mail or email to see notices regarding open enrollment season through your employer. Open enrollment is a period of time you can make changes to your employee benefits options that are normally restricted. This is also a great time to review your entire benefits package and make any other adjustments as well. Let’s walk through a few options you may be looking at.

The Intersection of Self Improvement and Wealth Improvement

In this weeks edition of Monday Morning Quarter-Buck, financial planner Kerrie Beene, CFP® (our resident self-help “junky”) dives into her favorite topic! She shares the top 10 books, podcasts, and YouTube videos and her current favorite self-help tip.

By: Kerrie Beene, CFP®

September is designated as Self Improvement Month. Most of us want to “improve” and become better people.  Someone once coined the phrase, “there is always room to improve” and it has stuck around for decades. I firmly believe this.  Each day I think we should all wake up and say, “How can I be better than I was yesterday?” 

However, thinking about improving can be overwhelming. Especially given all the areas in life there are to improve.  My suggestion is to look at the 8 areas of life and just pick the one you need the most work on at this time.  

8 Areas of Life

  • Personal/Spiritual Development

  • Physical Environment

  • Finances and Wealth

  • Friends and Family

  • Career/Business

  • Fun, Recreation, and Entertainment

  • Health and Fitness

  • Love Life

Once you decide which area you need the most work on, your options to educate and improve yourself are limitless.  As a self help junkie, I use every form of consumption I am aware to absorb the information. You can read books, listen to content, attend seminars/webinars, etc.  

The self improvement industry in the United States continues to grow each year.  According to marketresearch.com, the self improvement industry was worth $10 billion in 2016 and continues to grow each year.  Below, I will list some of the easiest ways to increase your knowledge about how to “improve” yourself.

Reading - There are multiple books available for any area you would like.  Amazon has a list that updates hourly based on the top sales. Currently (August/September 2019) these are the top 10 books in the self improvement category.

  1. The 7 Habits of Highly Effective People by Stephen R. Covey

  2. Unlimited Memory - Kevin Horsley

  3. Tribe of Mentors - Timothy Ferris

  4. Find your Passion: 25 Questions you must ask yourself - Henri Junttila

  5. Maybe You Should Talk to Someone - Lori Gottlieb

  6. Showing up For Life - Bill Gates, Sr.

  7. The Subtle Art of Not Giving a F*ck - Mark Manson

  8. The Traveler’s Gift: 7 Decisions that Determine Personal Success - Andy Andrews

  9. Empath: A Complete Guide for Developing Your Gift and Finding Your Sense of Self

  10. Atomic Habits - James Clear

Listening - If you don’t like to read, consider listening to a book.  Audible.com has the section listed as “self development.” There are over 52,000 titles available and here are the current top 10.

  1. Lightly: How to Live a Simple, Serene & Stress-Free Life - Francine Jay

  2. Can’t Hurt Me: Master your Mind and Defy the Odds - David Goggins

  3. Unf*ck Yourself: How to Get Out of Your Head and Into Your Life - Gary John Bishop

  4. The 7 Habits of Highly Effective People by Stephen R. Covey

  5. Girl, Stop Apologizing - Rachel Hollis (one of our favorites on the team)

  6.  Atomic Habits - James Clear

  7. The Subtle Art of Not Giving a F*ck - Mark Manson

  8. Dare to Lead - Brene Brown (One of Amy’s Favorites)

  9. How to Win Friends and Influence People - Dale Carnegie

  10. Never Split the Difference: Negotiating as Your Life Depended On It - Chris Voss

Podcasts - this form of medium is a little newer to the market compared to reading and listening to books, but I believe it is here to stay.  Google listed it as best motivational podcasts and here are the Top 10

  1. The School of Greatness with Lewis Howes

  2. The Gary Vee Audio Experience

  3. The Tim Ferris Show

  4. Hidden Brain

  5. Art of Charm

  6. The Dave Ramsey Show

  7. Oprah’s Super Soul Conversations

  8. The Minimalists Podcast

  9. This is Your Life

  10. TED Talks Daily

YouTube - According to gedground.com, these are the most popular YouTube channels for Self Development

  1. TED

  2. Actualized.org

  3. Evan Carmichael

  4. Lewis Howes

  5. GaryVee

  6. Goalcast

  7. Neil Patel

  8. Be Inspired

These lists are a great start to those of us who are always looking to improve.  There are other options, like seminars, however these are the forms available at your fingertips daily.  

I have read and listened to most of the items listed above.  However, one thing I have noticed is that as I age and life gets busier, it is a little harder to improve in multiple areas of life at a fast pace and it can be overwhelming to think we need to improve in all areas of our lives.  My suggestion comes from one of the books listed above, Atomic Habits, focus on getting 1% better each day. Often when we look to improve, we set the goal so big that we lose motivation and feel overwhelmed. So focus on just getting 1% better.  For example, if your goal is to start exercising, just start walking everyday and create the habit instead of planning to run a marathon next month. Create the habit, then work on small improvements. If your goal is to read more, don’t buy the thickest book you can find and try to read it in a few days.  Grab a book and just set a goal to read 15-20 minutes before bedtime. “Be the Tortoise, Not the Hare.” Don’t forget, if you would like to improve your finances, that is our passion at Rooted Planning Group and we are here to help!

Good Luck with your Goals and Happy Self-Improvement Month

Building a Plan to Relax, not React

Building a Plan to Relax, not React

Relaxation, the word sounds so happy and peaceful.  I recently saw that is was Relaxation Day on August 15th, and the thought of a day set aside for relaxation sounded great. Quiet, a good book, a comfy armchair, sunshine in a hammock, a massage, whatever your variety of relaxation the thought is sure to bring a smile to your face. I am a huge proponent of taking down time to recharge, but sometimes if you are dealing with stress it can be almost possible to relax. 

Financial Planning Strategies: Do You Have the Big 3?

Financial Planning Strategies: Do You Have the Big 3?

In this weeks edition of Monday Morning Quarter-Buck, Financial Planner and CFP® Scott DuMond writes about the potential financial blind spots that we sometimes have in our lives. Do you have the Big 3 covered in your life?

When driving a car, we know to check our blind spot before we switch lanes, or we could end up in an accident that we didn’t even see coming. Experience has taught us drivers that in addition to checking our mirrors we need to take an additional action, turning our heads because there could be a car hidden in the next lane that we cannot see by just using our mirrors.

Fraud Protection and Simplifying Your Life

Fraud Protection and Simplifying Your Life

Did you know that this week is both fraud protection and simplify your life week? I don’t know about you, but I feel like this is a contradiction of terms. It seems that in order to protect myself from fraud, I have to create very complex passwords, wary of whom my information is going to, and often increasing the complexity of my life. In this weeks edition of Monday Morning Quarter-Buck, Financial Planner Becky Eason (aka Partridge) discusses how marry these two concepts.