Eden Prairie, MN

Bruce Helmer talks about how to handle an expected windfall or unexpected windfall on CBS MoneyWatch.

Long-term readers of this column know that we spend a lot of time and attention on helping clients set goals. Goals are foundational to making financial decisions around investments, asset allocation, and income planning. But financial goals are not some abstract concepts in a vacuum. They need to reflect your values — what matters the most to you. Values emerge from the accumulation of lifetime experience, struggle wisdom, and yes, loss and pain.

Late last month, the Supreme Court in a 6-3 decision struck down the Biden administration’s plan to forgive up to $20,000 in federal student-loan debt for qualified borrowers. The majority of justices reasoned that the US Secretary of Education did not have the authority to offer widespread debt cancellation. The Biden Administration immediately vowed to move forward with loan forgiveness under separate legal authorities.

As advisors, we spend a lot of time and effort helping clients set goals. That’s because goals are foundational to financial decisions around investments, asset allocation, and income planning. On one of our recent weekly radio shows on WCCO in Minneapolis (AM 830), we invited our long-standing friend Doug Lennick to discuss the connection between achieving purposeful goals in your life, and how they need to be tied to values.

Published by the Pioneer Press, access original article here. We’re all bombarded daily with warnings about the risk of investing. Buying yesterday’s hot stock. Losing your money in crypto. Crazy Uncle Harry’s can’t miss, ground-floor opportunity.