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Will I lose all my money if I invest? For a diversified investor, a total wipeout is very unlikely. Big losses typically arise from concentrated bets or speculative assets, rather than from broadly held funds over time. Diversification, a steady schedule, and enough time in the market help manage risk. What are the risks in [...]

Should I Pay Off All My Debt Before Investing? “It depends.” If you’re carrying high-interest balances, think credit cards around 20–30% APR; pay those first. That interest is a guaranteed drain that usually beats what you can realistically earn in markets. After the expensive debt is under control, most people can (and should) do both: [...]

Why We Chose to Partner Locally At Stoic Wealth Advisors, our work has always been about more than numbers on a statement. It’s about stewardship, helping people use their financial resources intentionally, in ways that support their values, their families, and their communities. As an independent wealth management firm, we serve families, business owners, and [...]

Will Social Security Be Enough For Retirement Will Social Security be enough for retirement? For most people, no. The average retired-worker benefit was $1,976 per month in January 2025, after a 2.5% cost-of-living raise. Start with your own Social Security estimate, then plan using your net amount after taxes and the $185 standard Medicare Part B [...]

Do retirees actually spend less? Often, no. Many people keep the same lifestyle after work stops. Early years can include more trips and projects. Later years bring higher medical and care costs. Research refers to this as a “spending smile,” where spending is higher early on, dips in mid-retirement, and then rises again near the [...]

Can't Afford to Save Right Now – Should You Wait Until Later? If you’re wondering, “Should I just wait until I have more money to start saving or investing?”  the answer is a resounding NO. Rather than delaying, it’s generally better to begin with whatever small investments you can afford today. Even with tiny contributions, starting now gives [...]

As we step into a new year, it’s a great time to reflect on habits that can help us grow—not just financially, but also personally. In my work with clients, I often find inspiration in timeless philosophies that promote discipline, focus, and resilience. One such philosophy is Stoicism, a practice rooted in self-control and rational [...]

As an affluent family, planning for your children's education is likely a top priority. You want to ensure that they have access to the best education possible without worrying about the high cost of tuition; this is where 529 plans come into play. However, with so much information, understanding these plans and how they benefit [...]

Financial goals are essential. Setting them will help you to obtain the things you want out of life as well as live the lifestyle you desire, both during your working years and in your retirement. But obtaining these goals isn't always easy unless you develop a money mindset that aligns and drives you to these goals. So [...]

Historically, working mothers have had even higher ambitions in the workforce than working women in general.1 This ambition may drive them to excel in budgeting and financial matters that can help them manage their family's finances. What should working moms know about financial planning, and what steps can they take to help their family work towards a [...]

There are several ways high-net-worth individuals can benefit from life insurance. It is a vehicle that could provide loved ones with an income stream, it can be used as an investment strategy, it may help to lower your estate tax burden, and it could also be a potential safeguard for business owners. Generating an income stream [...]

When people think of “myths,” they often think of such stories as Pandora’s Box (the woman who took the lid off of a jar releasing all of the world’s ills upon the world, were taxes one of them?), or the Tale of Prometheus (who stole fire from his fellow gods to give to humans and was punished by Zeus [...]

Tax planning is a crucial component of personal finance and a vital component of your overall financial planning. Failing to consider tax planning could result in missed opportunities for tax savings and other tax opportunities. When it comes to tax planning, the earlier, the better, so meeting with your financial professional early in the tax year [...]

Personal finance is an important area of knowledge—but it's not always taught in schools. It may be tough to master when you haven't had much guidance prior to adulthood. You may be able to improve your financial literacy and maintain this base of knowledge. Read on for four tips and tricks that may significantly improve your financial [...]

When was the last time you learned about anything financial? April is National Financial Literacy Month—an entire month dedicated to underscoring the importance of learning, establishing and maintaining healthy financial habits. But ask yourself this: what have you learned about anything financial lately? Do most of your neighbors keep a household budget or save for [...]

There are two things Americans have always looked forward to: going to the ballpark for the big game and retiring after a fulfilling career. Interestingly, baseball and retirement planning have several aspects in common. Taking the time to plan and create goals to work toward. There are several reasons why setting goals is beneficial, including providing a [...]

The demands on medical practitioners today can seem overwhelming. It's no secret that health-care delivery is changing, and those changes are reflected in the financial issues that health-care professionals face every day. You must continually educate yourself about new research in your chosen specialty, stay current on the latest technology that is transforming health care, and pay [...]

Researchers found that those with more severe debt may be more likely to have physical and mental health issues, although causality is a challenge to establish.1 Fortunately, taking steps to improve your financial habits may also benefit your health. Here are some financial exercises to consider to help you explore the relationship between health and wealth. Set Goals [...]

You are finally retired after a lifetime of hard work, juggling responsibilities, and managing stress. During the pre-retirement phase, you did some planning, excited with the prospect of checking off that long list of all the things you would do once you retired. Then, it arrives, retirement! You initially enter into what new retirees have [...]

Being a high earner not rich yet (HENRY) may come with financial challenges. When coupled with the responsibility of raising a child with developmental disabilities, you might need thoughtful financial planning even more. Here are a few strategies that may help you save for retirement while managing your child's well-being. Craft a Comprehensive Financial Plan A comprehensive [...]

Navigating these demands an adaptable approach to planning your finances As we kick off 2024, the world of retirement planning is undergoing a fairly significant transformation, as tax brackets, retirement contribution limits, estate and gift tax exemptions, among other things, are set to undergo upward revisions. Additionally, the gradual introduction of Secure 2.0, a pivotal retirement legislation, [...]

Wealth transfer is more than just a financial transaction; it's an opportunity for families to pass on their values, wisdom, and a legacy of love. Navigating this process requires careful consideration, open communication, and a shared commitment to preserving family unity. Here are ten essential questions that families may ask themselves as they embark on [...]

Just as a winning team meticulously plans its Super Bowl plays, individuals and families may benefit from developing a comprehensive plan for their estate. Estate planning isn't just for the wealthy. Estate planning is a strategic move for everyone to use that helps to see your wishes honored, your assets managed, and your loved ones [...]

Raising a child may be an expensive prospect—with parents spending an estimated average of more than $233,000 to raise a child to age 17 in 2021. Having a child with special needs may add to this cost, whether increased medical expenses or special schooling or rehab therapies. If your child has a mental or physical disability, [...]

As you go through life, planning for life's unpredictability is essential. If your family has children or adults with special needs, estate planning for their future care becomes vital. Estate planning for them is unique as it needs provisions in the plan to help ensure their independence and ongoing care when you are no longer [...]

About 61 million adults in the U.S. live with a disability. Many of these disabilities are serious enough to impact a person’s daily life.1 There may be financial benefits available to those whose disabilities leave them unable to hold down a job. However, these benefits may come with strict rules and regulations, such as limits [...]

When it comes to financial bad habits, the most common are also well known — don’t spend too much, don’t take on unsustainable debt, and avoid living paycheck to paycheck. But what happens once you’ve implemented this advice and still aren’t getting ahead? Here are five overlooked financial bad habits that could be draining your [...]

As a physician, you understand your medical specialty inside and out, but at the same time, you also need to be able to handle the financial challenges associated with your industry. That may include juggling a lot of student and professional debt, running your own clinic, saving for the future, and creating contingency plans for disabilities [...]

As a physician, you've devoted a lot of time to educating yourself, building a career, and providing top notch care that enriches your patients lives, and in the midst of all that, it can be easy to overlook your finances. To ensure you're optimizing your financial situation and making your hard work pay off in [...]

When it comes to planning your retirement in Arizona, have you given much thought to the length of your potential lifespan? While it may be an uncomfortable reality to contemplate, it's crucial not to shy away from addressing this significant consideration. This is a topic that financial advisors have to consider; it is important to [...]

The conventional retirement age in the United States is 65, the point at which most individuals become eligible for full Social Security benefits. However, an increasing number of Americans are choosing to embark on their retirement journey earlier than originally planned. Whether motivated by personal preferences or external circumstances, early retirement has become a viable [...]

Insurance may not be the most thrilling topic, but it is an indispensable component of safeguarding yourself and your finances. On Insurance Awareness Day, it is important to understand why insurance matters and how you can ensure you have the appropriate coverage. The crux of this day lies in the word "Awareness." While you don't [...]

Fatherhood encompasses a multitude of responsibilities, including imparting financial wisdom to our children. In celebration of Father's Day and as a follow-up to one of our previous blogs, we wanted to share additional financial lessons from renowned dads. Whether famous or not, dads possess valuable advice worth sharing. Let's explore some of the remarkable insights [...]

The Russian invasion of Ukraine has made the Fed’s interest rate decision a little more complicated.   The Fed appears set to raise interest rates by 0.25% at its March meeting. Up until recently, there was talk by Fed officials that the economy needed a 0.5% bump to help manage inflation.   Energy prices have [...]

Divorce can be less common among doctors than other professionals.1 With that being said, the process of divorce can be complicated for anyone - maybe even more so for medical professionals with complex financial standings. Divorce can be hard for healthcare workers to manage for a few reasons. Doctors may be less eager to take such [...]

The economic impact of COVID-19 has been felt around the world. And, unfortunately for many pre-retirees, it could potentially impact your Social Security benefits as well. A new 2021 report indicates that Social Security benefits will be cut to 78 percent of promised benefits by 2034 if Congress takes no action to address funding.1 While Social [...]

At different periods of time, the stock market appears to favor one of two stock types - value stocks or growth stocks. Since the United States' 2008 market downturn, for example, the market has primarily favored growth stocks. The Canadian stock exchange has appeared to favor growth stocks in the past as well. But some [...]

The events of last year may have taken a toll on your financial situation. For those who had a financial advisor during that time, they were guided through all the ups and downs of the market and their personal financial lives. If you are getting back into the swing of things, a financial advisor could [...]

It’s common for people to want to leave money behind for their children and family members after death. After spending years working to earn a living, people are proud to leave behind a legacy and help their future generations to be better off. But there's a common saying regarding generational wealth - "Shirtsleeves to shirtsleeves [...]

Money is the second leading cause of stress amongst adults.1 If you find yourself worried about your financial wellbeing, you're not alone - and there are things you can do to make it better. Financial stress can stop even the most productive people in their tracks, causing sleepless nights, avoidance of debt and denial. While it's [...]

Thanks to COVID, camping grew in popularity last year. After all, what is more socially distanced than sleeping outdoors? As we head into summer, it's possible you and your family may be gearing up for a visit to the nearest campsite in the coming months. Before you head into the wilderness, here are 12 things [...]

Smartphone usage increased dramatically during pandemic as more people lost their jobs, were furloughed or adhering to stay-at-home orders. While smartphones can provide endless entertainment, they can also be bad news for your budget. In fact, the combined global monthly amount that consumers spent on apps and games peaked in May 2020 at $9.4 billion, [...]

Even with the onset of COVID-19, major online brokers saw new accounts grow as much as 170 percent in the first quarter of 2020.1 For investors, whether working with an advisor or taking a DIY approach, it’s important to understand the fundamental differences between two common investing practices - active and passive. What Is Active Investing? [...]

“It turns out my job was not to find great investments, but to help create great investors,” writes Carl Richards, author of “The Behaviour Gap.”1 From increasing our budget mindfulness to taking a steadier approach to investing, Richards has drawn attention to the way our unexamined behaviours and emotions can be our detriment when it comes [...]

By now you've likely heard the news that stocks in some unlikely companies - GameStop, AMC, Blackberry - have suddenly soared. In fact, the New York Times claims amateur investors are "Beating Wall Street at Its Own Game" with shares in GameStop skyrocketing 1,700 percent by end of day Monday, Jan. 25. In part, some [...]

2020 has been quite the year, to say the least. With only a few weeks left, everyone is ready to put the year behind us and try to start fresh. From the coronavirus pandemic to economic shut downs, many have felt the financial strain. If you are looking to start 2021 off on a better [...]

The CARES Act was passed on March 27, 2020 amidst the onset of COVID-19 in America. The package included over $2 trillion in economic relief for businesses, workers, families and governments.1 Now, the year is almost over - and some benefits included in the CARES Act are expiring. Many Americans have relied on these benefits [...]

If the idea of retiring in your early 50s’, 40’s, 30’s or even late 20’s appeals to you, you may be interested in joining the FIRE retirement movement. Designed for those who have both the discipline and cash flow to save diligently, FIRE can be an effective path toward living a work-optional lifestyle. Below we’ll [...]

Medical school students graduate with an average student loan debt of $192,000, according to a 2017 survey.1 And with a demanding career ahead of them, most healthcare workers could use the help of a dedicated financial professional. From tackling student loan debt to preparing for retirement, an advisor can help take the lead on managing your [...]

Sex, lies and accusations of corruption - no election year is complete without them. And while the 2020 election has proven to be one of the most contentious in recent history, contention is nothing new in the world of politics. From the political match-up of Jefferson v. Adams to this year’s Biden v. Trump, mud [...]

As millions around the globe continue to work from home in Prescott, AZ, it’s important to remain vigilant when it comes to staying safe online. Here are eight cybersecurity tips that you can start utilizing today. These suggestions will also come in handy for better financial security online… especially when checking investment and retirement accounts! [...]