By Kerrie Beene, CFP®

Happy Thanksgiving Week! It is a happy and sad time all wrapped up in one turkey.

We all have things to be thankful for while at the same time most of us are directly or indirectly affected by COVID. In this unfortunate time, 2020 Thanksgiving will not be the same for most. For me personally, we have decided to take precaution and cancel our normal gathering with my grandma. It was a hard decision but a few of the family members will be visiting her to keep her mental health in the forefront. While this is not ideal, keeping both our mental and physical health in good condition is the most important thing at this time. This situation will be the case for many, here at Rooted Planning Group we put together a list of things we can all do to stay mentally healthy during our COVID Thanksgiving.

By Kate Welker, CFP®

What can you do to protect yourself and those you care about from risks to finances and decision making as you age?

Some caregiving situations require the services of a long distance caregiver. According to the National Institute of Aging, a long distance caregiver is someone that lives an hour or more away from a person who needs aid.

What are some of the roles of a long distance caregiver? Depending on the relationship, some duties may include home care, money management, medical correspondence with professionals, legal paperwork, medicinal disbursement, emotional support, family informant, etc.

November is National Family Caregivers Month! There are millions of heroes out there who provide care to their loved ones and their efforts are all too often overlooked. It’s not an easy job and the pressure caregivers put on themselves can be enormous. In honor of this important month, we’re outlining some steps you can take to take care of yourself emotionally and financially to make sure you can continue to provide great support to others.

As of October 1, 2020 FAFSA applications can be completed for the 2021 - 2022 academic year. And don’t forget, even if you’re already in college and you plan on attending next year you need to complete the FAFSA for each and every academic year.

By Kate Welker, CFP®

This month we want to continue to remind our readers that it will soon be open enrollment through your employer and Medicare, the time of year you are able to review and change your health insurance and other benefits.

There are several posts on our blog that cover this topic more in depth:

• Last week Rachel discussed how to review your health insurance options and prepare for making that decision in her post “Knock, Knock - Open Enrollment Who?”

• Last year I wrote a guide to the terms and options you may be deciding on in a post titled “Build Your Wealth by Taking Advantage of Benefits Open Enrollment.”

Open Enrollment for 2021 runs from November 1, 2020 through December 15, 2020. Coverage begins January 1, 2021. It is a time in which individuals are required to opt in or out of health, dental, and vision insurance for the upcoming calendar year.

By: Becky Eason, CFP®

Student loans impact people of all ages, from high school through retirement. This may come as a surprise to some people, because it’s often thought that student loans are a millennial “issue”, but that’s not necessarily the case. In fact, many adults who are either planning on retirement or already in retirement are faced with student loan payments.

By Kerrie Beene, CFP®

Since Oprah stopped giving cars away in 2011, we recently had to face the challenge of getting our daughter a better vehicle. While her getting older and purchasing this car should have come as no surprise, it came faster than we wanted (we should have started earlier!!) and I wanted to share a few things we did to prepare for the purchase of the car.

• Utilizing Savings

• Throwing all Extra Funds into the Savings

• Create a Physical Savings Chart

• When the time arrives to Purchase, Choose a Budget!

• Involve your Teen in the Purchasing Process

• Utilize a Teachable Moment

By Kate Welker, CFP®

It is again the back to school season. Preschool through college school will look different for students this year, but one thing is the same. The changing of the year, feeling of a fresh start, and thinking about the future year ahead. For older students we are discussing college plans and for those of you with young children you may be thinking about planning for your children's eventual college. With a growing student loan debt load in this country how to pay for college is a concern we like to address. I wanted to share some thoughts on a few unique ways to think about saving for education.

Estate planning can sometimes come across as a section of planning that is completed later in life after retirement has begun and “it’s time” to start thinking of life’s next stage. Au contraire, estate planning is a part of one’s portfolio that deserves equal attention pre and post the date of retirement. The time is now! As net worth, investments, personal property, real estate, relationships, and other intrinsic items change in status, value, and possession over the years, it is important to consistently update (or begin creating) your estate planning documents.

Below are some introductory terms for those stepping into the estate planning process

By: Ann Arceo, CFP®

As parents, we want what’s best for our kids and education is top of the list for many of us. Of course we had no way of knowing that this year would disrupt and change so many of our plans. From an economic downturn to school closures, 2020 is a year we won’t soon forget. As we’ve scrambled to adjust our family routine to make this school year work, it can be easy to put off planning for a future goal like college that’s years down the road.

If you can relate to that feeling, you’re not alone. A recent CNBC article highlighted a survey showing “16% of parents saving for college paused their contributions” while 13% reduced contributions and 17% planned to withdraw funds” because of financial concerns due to the pandemic. Worrying about your finances during this time is certainly understandable, but the one rule parents should keep in mind when saving for college or any major financial goal is that time is one of your biggest assets. By starting early, you’ll ultimately need to save less given that your money will have time to grow. So if you’ve started saving and stopped or even if you haven’t started saving at all, the 4 steps below can help you make a plan and get on track.

We are in a period of uncertainty, in particular around the education system. Some colleges that opened their doors for in person learning have already switched to online classes, within just a couple of weeks. For future college students what does this mean for your college planning and student loans?

Summer's end is here and school is back in session! Is your family prepared? It is important to reflect on this unique summer and prepare both yourself, parents, and students for the upcoming months ahead.

Just as summer plans have shifted, I thought I’d shift to talk about ways to enjoy the opportunities for entertainment and relaxation you can find around you.

Budgeting is considered to be one of the first (and most crucial) steps to create the road map to financial success. They can range from daily, weekly, or even monthly estimated expenditures. However, many individuals and couples do not partake in the budgeting process due to the idea of time constraints, extra work, and the idea of having to “cut items”.

While the idea of a budget may be challenging, the benefits far outweigh any initial hesitations.

Continue below to see 5 of the many benefits to gain by starting a budget ASAP!

Five Years of Independence and Entrepreneurship!
June 1, 2020 celebrated FIVE years of independence and becoming an entrepreneur. I can hardly believe it's been that long. It's been an interesting journey to say the least. For those of you that were with me at the start of the journey, the words, "thank you" don't seem sufficient enough words. For those of you have have joined us along the way, we are so honored you've selected us.

Starting your own business is hard work, I new it would be when I set off on the journey. Typical to my personality, I planned for "what could go wrong" and worried about it all the time. I will admit, it certainly started out a little rocky with significant challenges, as some of you may remember the flash crash of August 2015.

One of my goals as a parent is to raise my children to be aware of the value of money and as they age to develop healthy financial habits. I have had friends ask my advice on this and have seen social media posts from parents of young children asking for input. The hardest part of this is just like everything else in parenting, you will need to find what works for your family and for your children or the children in your life. We are so excited we have become a Sammy Rabbit official partner and have been able to bring Sammy’s Dream Big story program to you! This is geared towards children ages 7-10 and is a storybook coloring book and activities to teach financial literacy.

Graduation, the day you’ve worked towards for years. Once you walk across the stage (or should we say proverbial stage this year) and take that diploma a new stage of life begins. There will be many new decisions and actions ahead of you, but here are a few simple moves to take as you enter that next stage of life.