Horan - Health. Wealth. Life

HORAN's Financial Resource Center

Posted by Anna Pfaehler on Tuesday, June 09, 2015 in Financial Planning | Comments (0)
This year, HORAN’s Financial Planning blog has been focusing on the basics of financial health. We hope it will be a resource for those just starting on the path to financial wellness. However, this blog is just one of the manyeducational resources HORAN’s website offers.   The HORAN Financial Resource Center is a relatively new addition to the HORAN website that provides information for all stages of life, whether you're just getting started or you're recently retired. ...  Read more...

Disability Insurance Part 2

Posted by Anna Pfaehler on Thursday, May 28, 2015 in Financial Planning | Comments (0)
Disability Insurance is a vital part of everyone’s financial plan. In our last post we introduced some general concepts pertaining to different types of disability insurance. In this post, we will continue to explore some of the nuances of disability insurance, such as “own occupation” and “any occupation”. We will also touch on Social Security Disability Insurance and what to expect from Social Security if you become disabled.  Disability insurance policies that are specified as “own occu...  Read more...

Disability Insurance Part 1

Posted by Anna Pfaehler on Wednesday, April 15, 2015 in Financial Planning | Comments (0)
At the intersection of physical and financial wellness is insurance. A key component to your financial health is having the insurance necessary to protect you and your family from the loss of an income either as the result of a disability or death. Our next posts will be about building a safety net with disability and life insurance.  Let us start our discussion with disability insurance because while you are young and working, you are more likely to become disabled than to die prematurely...  Read more...

Making Credit History

Posted by Anna Pfaehler on Tuesday, March 31, 2015 in Financial Planning | Comments (0)
When applying for a job, you want your resume to attract attention and result in an interview. You need a work history in order to have content that will make you look good on paper. Your credit report is similar to a resume and tells your story as a borrower. It is an indicator of what sort of risk you are to potential lenders, employers and landlords. To be useful it needs content. You need a credit history.  Unlike a resume, you cannot edit your credit report to leave off or gloss over...  Read more...

Keeping Score

Posted by Anna Pfaehler on Tuesday, March 17, 2015 in Financial Planning | Comments (0)
One of the core tenets of goal setting is to make measurable goals. With financial planning, it is difficult to make a measurable goal that fits a broad range of people. So much of financial planning is relative and the fact pattern dictates the right course of action for each individual. Numerical financial wellness benchmarks are rare because what is appropriate and “healthy” for one person may not be for another.  Your credit score is one of those rare benchmarks. It is designed to tran...  Read more...

Why Credit Matters

Posted by Anna Pfaehler on Monday, March 09, 2015 in Financial Planning | Comments (0)
In my experience, those who are worried about their debt are also concerned about their credit. These two go hand-in-hand. Credit determines the terms you will receive on new debts and your old debts are what determine your credit.  People looking to pay off their debts are typically also thinking about improving their credit score. Therefore, the next few weeks this blog will focus on credit.    Your credit is considered to be an indicator of your responsibility and risk. It h...  Read more...

Strategies for Paying Debt

Posted by Anna Pfaehler on Tuesday, March 03, 2015 in Financial Planning | Comments (0)
Quinby Hill is a particularly steep beast in Scarsdale, NY that I frequently included in my running loops. It was unavoidable because of its location. One time, I was running up it with a group of fellow runners. A friend, looking for a strategy for attacking the hill, asked me how I get up it. I responded, “One step at a time.”   Paying down debt can feel like running uphill. It isn’t easy and it takes patience. However, you can have more sophistication with your debt payment strategy tha...  Read more...

The Cost of Debt

Posted by Anna Pfaehler on Tuesday, February 24, 2015 in Financial Planning | Comments (0)
In the last post, we discussed how the return on investment of a debt determines if it is a “bad” or “OK” debt. In this post, we’ll look closer at the investment side of the equation. The cost of a debt is the interest paid. This cost changes based on the interest rate, the payment schedule and the length of the loan. Let’s consider three types of debt at various interest rates: Mortgage $150,000 – 30 Years, 4.0% Interest  Student Loans $33,000 – 10 years, 4.75% Interest Credit Cards $...  Read more...

How to Manage Debt - Part 1

Posted by Anna Pfaehler on Wednesday, February 11, 2015 in Financial Planning | Comments (0)
For many people, money is the powder-keg and debt is the match. Debt is a tremendous stressor. It carries a negative stigma. It can be expensive. It can be overwhelming. There’s no shortage of talking heads espousing the evils of debt and how to live debt free (just buy their audiobook and you’re on your way!). For precisely this reason, the next few weeks will be dedicated to focusing on debt..    Your first lesson in debt – not all debt is created equal. Your first corollary – ...  Read more...

Mobile Apps to Help You Track Your Budget

Posted by Anna Pfaehler on Monday, February 02, 2015 in Financial Planning | Comments (0)
With the boom of smartphones, accessing your financials is easier than ever. There are banking apps, mobile trading apps and budgeting apps. Budgeting apps have become particularly popular and useful.  Recently, we spent time reviewing several budgeting apps. The following are a few of our favorites.    Mint is one of the most popular budgeting apps on the market today. This app allows users to track expenses and link bank and retirement accounts. Mint also seamlessly links to ...  Read more...
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