When it comes to financial planning, simplicity is key. Yet, many individuals leave behind a trail of old 401(k)s, IRAs, and various investment accounts as they switch jobs and open new financial products. Over time, this scattered approach can make it difficult to track progress, optimize investments, understand a true global allocation, and ensure a…
In the world of finance, behavioral biases play a significant role in shaping how individuals make decisions about their money. These biases can manifest differently between men and women, influencing financial confidence, strengths, and overall financial behavior. Understanding these differences is crucial for individuals to identify as they are looking to improve their financial well-being….
As financial advisors, we often hear younger clients express concerns about where to start with their financial journey. Gen Z and Millennials are navigating an ever-changing economic landscape, from student loans to inflation, fluctuating job markets, and now a falling interest rate environment. However, starting early—even with small steps—can make all the difference over the…
With October being financial planning month, it gives us a prime opportunity to refocus our attention on our financial well-being. This month serves as a reminder to take a step back, evaluate our financial goals, and make necessary adjustments to secure and realign our financial plan and journey. In this blog, we’ll explore why Financial…
Frequent financial check ins throughout the year are prudent to a solid and evolving financial plan. As your life gets more complicated, your financial plan and advice may change. So, periodically revisiting your savings plan is a great way to benchmark your financial progress, and ensure it remains aligned with your financial goals and life…
April marks National Financial Literacy Month, and it’s more than just another item on the calendar. At Sherman Wealth Management, we’re taking this opportunity to dive into why financial literacy, education and empowerment should play a key role in your life. Why is financial literacy so important? Well, because money matters. It affects every aspect…
Financial empowerment, literacy, and education are so important not just amongst adults, but children too. So, as we kick start 2024 and think about financial goals for the year, many clients and prospects have been asking us how to think about finances for their kids and the best ways to teach their children about money…
How are you feeling now that summer is winding down, and fall is right around the corner? Are back to school activities starting back up for the kids? Has your spending picked up as well? There is certainly a lot to reflect on about the last year and a half. One thing that we are…
This week, the IRS issued new 2023 required minimum distribution (RMD) relief for IRA beneficiaries. This inherited IRA question has been on many individuals mind’s for some time, so see below for the IRS updates. If you have any questions or want further clarification, check out the IRS website, or email us at info@shermanwealth.com. “The…
We’ve been talking a lot about the importance of having a financial plan in place, especially given the current market climate with hot inflation and rising interest rates. Establishing financial goals and creating a roadmap to achieve them is extremely important to your financial life. It’s often hard to see the whole scope of your…