Thursday, August 31, 2017

Sneaky Snares

Welcome to 

Middle-aged Money Man 

a blog devoted to considering and choosing the wise money moves 
one needs to make between the ages of 35 to 55.

Sneaky Snares:
Ways We Keep Ourselves from Change


We have all done it.  It is very common.  Our thoughts betray us at times. We have all told ourselves a prevarication in order to cover up procrastination.  Some of us have become so accustomed to this pattern of behavior that is has become very difficult to break out of any negative or harmful habit.

Within the range of behaviors and thoughts and feelings, we can develop counter effects to everything.  If I smoke, I can tell myself ‘just one more’ for a very long time. If I am filled with anxious thoughts, it is easy to fall into expecting the worst in every situation.  When feelings of depression become all too familiar, I can look back and retrace the beliefs and thoughts that led me there.


It is the same with money management, for better or for worse.  I can get lost in positive or negative financial management by becoming unaware of the behaviors that lead to success or failure.  A person who saves regularly into a separate account, either by payroll deduction or ACH, can develop thousands of dollars in cash before they know it. It was the CHOICE to enact the automatic savings plan that made all the difference. Likewise, a person who develops a habit of spending $6 per day on his/her favorite beverage will spend close to $120 per month without even realizing it.  So, everything with cash management and financial planning is about CHOICE.

All too often, it seems that the choice to give up something small, like a weekly dining out or a daily beverage, is such a painful, sacrificial decision.  When we are in a habit of doing a thing that we really enjoy and like, we choose to allow our thoughts and feelings to support the maintenance of that behavior.  This can be good or bad.  For instance, I go to the gym almost every day.  Sometimes I don’t want to go.  But even in those moments, when my body tells me to stay home on the couch, the power of personal habit helps me decide well.  The skill here is this: Developing the discernment to know which habits are good and worth keeping and which habits are unhealthy and worth improving.

So, let’s review some of the thoughts that keep us from positive change.  Though it is impossible to name all of the potential thoughts that keep us stuck in bad habits and away from a better life, let’s consider some of the more common items:

1. I’m Too Busy:  This is likely the most common idea that I hear that keeps folks from taking charge of their financial situation.  This thought can be considered in one of two respects.  First, it can be seen as a statement of a type of lack of control over life, that life is overwhelming and overtaxing.  The belief behind this thought is that life is mostly unmanageable.  Second, it can be seen as an excuse to avoid something less palatable or uncomfortable.  The belief behind this thought is that I do not want to do a new thing because I am unhappily comfortable in this existing thing.  Busy-ness is a symptom of the Tyranny of the Urgent, constantly engulfed in 'putting out fires' and unending activity and busy work.  It is the opposite of strategy, the antithesis of prudent decision-making.  Either way we consider this thought, the message is that the person prefers the status quo and is not ready to change.

2. Maybe. I’ll Get To It Eventually:  When we cannot fully and readily say Yes to a new behavior, it expressed that we are torn in some way. If meant sincerely, this thought may just be a statement that we will prioritize the new choice in a limited amount of time.  But usually, this statement is an expression that a person cannot give a positive response and is reluctant to just say No.  It can be a type of Chronic Niceness, well-known to us in the South.  No matter how good the new idea is, one cannot commit to it. The belief behind this thought could be that life seems too hectic and commitment is not possible. Or it could mean that one is just saying something to get the pressure of decision off his/her shoulders.  Either way we consider it, the message is that the person is not ready to change.

3. I Would Do It, But…..:  This is the classic reply showing a willingness to do the new behavior while offering a rock solid excuse to not do the new behavior.  It is a Catch 22.  There is often no way to win with this objection.  The thought expresses that the person has a surefire, bulletproof way out of the new commitment.  The belief behind this thought is that the new behavior is NOT a priority.  The message is that the person is not ready to change.

4. That’s A Great Idea:  This is perhaps the slickest response.  The thought expresses total agreement with the new idea, total acceptance of its worth and value, and a statement of enthusiastic support for the idea.  The person may even list the reasons it is a good idea, worth of every consideration, worthy of actually doing.  But just beneath the surface, there is a not so subtle resistance to the new behavior.  There is a personal rejection of the idea.  The statement goes that, in general, this would be very wise and profitable for a person to do, just not me.  The message is that the person is not ready to change.

5.  Off-Topic Distraction:  The person listens and hears you, but immediately brings up a related but off topic as a new conversation starter.  It is a nice but subtle off-putting of the responsibility to engage the first topic at hand.  We use distraction for a lot of reasons.  When we are uncomfortable or intimidated or afraid, we try to distract with laughter.  When we are guilty or ashamed, we distract by blaming others.  But when we hear a good idea and still distract, it seems that it is usually because we are settled into other habits and do not want to change. The message is that the person is not ready for change.

6. Naming an ‘Even Better’ Idea:  I love this one.  When discussing the idea of financial planning or fitness or nutrition or whatever, a wonderful is presented and solid rationale is given for the idea.  Then, out of nowhere, the other person delivers an even better idea. Unfortunately, the other better idea is usually not based in reality and is usually not better.  This is a type of distraction technique.  Consider this.  I offer a research-based, well-accepted idea to my friend. The idea is solid and makes rational sense.  Then my friend offers some off-the-beaten-path, highly dubious notion that she picked up from a cousin of an aunt from an in-law who owns a Q-tip refurbishing business.  The friend’s new idea is wacko, but they insist on taking the conversation there.  The message is that the person is not ready to discuss and is not ready to change.

7.  Lamenting that ‘No One Does This’:  You know, when you share a great idea with another person, and the idea is truly great, but it gets shot down by the other by an incredulous statement such as “yeah, but nobody does this.” Imagine, sharing with another that studies show those who work with a professional financial planner save 22% on taxes and create 34% more wealth over their pre-retirement years. 
And you are excited about the information. And the friend agrees that these statistics are amazing.  But then they respond, “yeah, that would be great, but nobody is gonna do that with some financial planner.”  Boom!  The idea is shot down.  The response had nothing to do with the fact about the idea.  It is still a good idea. But it has been dismissed as fantasy or folly.  The message is that the person is not ready for change.


Well, anyway.  You can see that all of us use a wide range of inner thoughts and outer expressions to avoid dealing with some important matters.  It seems to me that financial planning and money management are in that category.  Until we get a vision for what is possible with really taking control over our financial situation, most of us use a series of thoughts that say ‘not now,’ ‘I’ve got time for that later,’ or ‘it’s just not that important.’

But it is important. The less income and the smaller savings that we have, it is even more important.  If we are in debt, it is vitally important.  The fewer resources we have at any time, the more important it is to manage them as well as we can.  And when we do increase our income and assets, the need for financial planning is paramount to accelerating our wealth building.  It’s not about being rich, it’s about being richly blessed and having the resources to make our lives what we truly want it to be.



If you find that you are being trapped by a series of sneaky snares in your thinking about money, free yourself. Call a financial planning team today and begin a path to stewardship.  Sometimes, we bless ourselves with one or two simple decisions.

So, I hope that this blog article has been useful to you. My team’s goal in working with clients through the financial planning process is to build solid foundations, save wisely, invest profitably, and rest easy.  Until next time…… Be Blessed.

Check out these short videos:



Richard Barbee
richard@sdp-planning.com
9724 Kingston Pike #701
Knoxville, TN  37922
865-357-7370

These are the opinions of Richard Barbee and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. None of the above should be construed as individual legal, investment, or tax advice. Please consult with a legal, investment, or tax professional regarding your unique circumstances. Neither Richard Barbee nor Cambridge can offer legal advice.

Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Slate, Disharoon, Parrish and Associates, LLC are not affiliated.



Tuesday, August 29, 2017

Considerations In Medias Res

Welcome to 

Middle-aged Money Man 

a blog devoted to considering and choosing the wise money moves 
one needs to make between the ages of 35 to 55.

Considerations In Medias Res:
Plotting a Right Path for Middle Age


I am a big fan of literature of all kinds. I love to read.  Most of my life has been spent in sports and business, but my truly favorite thing is to abide in the twists and turns of a well-written story.  In Medias Res is a literary term to describe when a story or novel begins in the midst of high action, as if in the middle of the story.  Many movies begin this way, with the lead actor involved in some tense, frantic series of events.  I remember almost every James Bond movie opening in this manner.


And here we are…….. in the middle of our lives.  Has it really been 20 or more years since I was in high school? Kids, marriage, house, business, and much more have grown into daily experience. I remember when I could move from one apartment to another with about 10 boxes.  Now, it takes two big trucks filled to the gills.  Maybe one reason we put off financial planning in our lives is because when we stop and look at life, we are quickly overwhelmed by ALL of the things going on.  We feel that we must urgently handle so many, too many things.


So, what is the process for getting from here (without a will, no legal documents, without a budget, cash poor, behind on savings) to there (some measure of financial control over most of the current and upcoming costs that I have)?  How do I gain control of this daunting area of my life while still juggling all the other parts? How can I slow down enough to gain the mental clarity I need to really make some changes to how I use money?

That is the whole point of this blog.  Finding a way to manage wisely our income, assets, savings, and opportunities while living in the whirlwind of life is the task that is set before us.  I read an interesting factoid recently: Most people spend more time planning one vacation than they spend on planning their financial lives.  Wow!  Think about that.  We may spend more time and resources planning one 5-7 day period of time than we do for planning the next 40 years of our lives.  If this is true, it may indicate a lack of understanding about the seriousness of our relationship with money or it may indicate a more serious problem with our overall priorities.

Either way, we have to correct course.  We must find a way to cut through the busy-ness, stop for a few seconds, and chart a path toward congruent, prudent financial management.

First Two Steps

The first steps involve: 1. Believing that it is worth doing this and 2. Believing that I can make the time to do it.  I must see the importance of building some sort of financial plan.  I must see and understand that this task is Do-able.  I would suggest that these are the two key cognitive walls that I must climb.  If I am missing one or both of these two beliefs, any chance of making an asset management system work is nearly zero.

I am reminded of Henry Ford’s comment, “whether you think you can or you can’t, you’re probably right.”  This is a succinct explanation of money management.  Belief is such a big part of the puzzle.  Some of my clients ease into the idea of responsible financial planning and have little problem with implementing it.  However, for those who are more like I was, the idea of developing a budget, saving for the future, accumulating cash and more can seem overwhelming….. perhaps impossible.  One thing I have learned, if we believe an important something is impossible (though it is perfectly do-able and needed and vital), we will put it off and do our best to pretend that other things are more important. 

One sure way to believe in financial planning is to spend time with those who have planned financially and live a wealth focused on accumulating assets.  One sure way to continue in the malaise with no regard for putting together an asset management system is to spend all your time with those who have the latest tv, boat, clothes, jewelry, and so on.  Those who value toys and trips more than a reasonable savings plan will convince you that a firm, rational financial plan is just not necessary.


Again, some are more naturally self-disciplined.  They will develop systems organically that just work.  But for most of us, accountability to maintain a course of action requires that we involve others, develop systems, and have a written idea of what we need to do.


The Jumpstart

Let me offer a few tips to jumpstart your personal financial discipline and begin to develop a financial plan:

1. Personal Notes:  I am a frequent fan of personal notes.  I put notes for myself on my mirrors, car dash, office desk and more.  Sometimes, the note just has 1 word  --  such as believe or focus.  Sometimes, the notes are more detailed.  But the effect is this:  It reminds of a very important concept or plan of action.

2. Read:  Reading a book with a topic that you want to learn more about or an action you want to take can be very helpful and motivating.  This is especially true with books that paint a picture of how life will be when you have achieved your goal.  Getting a clear idea of the ways in which life will be different when the goal is achieved is crucial.  And…. it is important to actually engage and to read the book. Get into it. Take notes. Highlight.  Re-read meaningful chapters or paragraphs. 

3. Start a Savings Account or Emergency Fund Account:  Use Bankrate.com to find a great bank with a savings account that pays interest and has no minimum deposit.  You can find the banks such as Barclay’s, Ally, Citibank and more under the Banking à Savings rates tab.  Simply create a log on to one of the banks and open a new account.  Schedule an automatic ACH / ETF from your checking account to the new account weekly or monthly.   Ta-da !!!  You have started a savings plan !

4. Make a Verbal Commitment to a Loved One or Friend:  There is power in speaking things out loud. Results can come from asking for accountability on a spoken oath.  This is a primary principle for my life.  Saying a thing out loud makes that thing far more tangible, more real.  Even if you just say this commitment to yourself once a day, the vow becomes more likely to occur. Say It!

5.  Find a Friend who has developed a Financial Plan:  Ask around. Find a friend who has gone through the process.  Those who have gone through Dave Ramsey’s Financial Peace University are valuable.  But preferably, find a friend that has gone through a formal financial planning process, not just focused on debt reduction.  Ask them questions. Get an idea of the time commitment required.  Ask them about the difference it made in their lives.

6.  Identify Roadblocks:  List and describe the things that tend to keep you from thinking this way. Why would I not get my financial life on track now? How does it benefit me to go another year without financial direction? When I start to get motivated to work on a plan, what are the thoughts or events that come to my mind to prevent me from carrying through?  How do I really FEEL about doing this financial plan? Does it overwhelm me? Do I consider it important?

7.  Identify YOUR reasons for getting a Plan together:  Each of us values a goal for different reasons.  Taking 60 seconds to list YOUR reasons for making a change or achieving a goal can work wonders.  A good, real reason for doing a thing is often the precursor for Action.  When we take action, focused action, results come quickly.  Know YOUR reasons for getting your assets organized, your cash segregated, your risk managed, and more.  Whether it is stress relief, wealth creation, ability to give to charity, finally having a good night's sleep, or whatever, just do it.

8.  Picture a Life WITHOUT your Biggest Financial Distraction:  What is the one financial issue that tends to dominate your thoughts and feelings? Is it debt, income level, risk, something else?  Try to imagine life without that problem.  Try to see yourself living a life without that concern.  How would life change or feel different without that issue in your mind every day?  For a student loan or credit card debt or no cash or whatever, imagine how you would function and feel without that issue.


Of course, these are just some preliminary considerations as we go about our lives.  They are meant to help us set the stage for actually getting a plan together.  In Medias Res…. in the middle of things.  Each of us is left with two choices: either continue as is or launch ourselves toward where we really want to be.

In my days of doing individual therapy, I would often use Reality Therapy’s 8 questions.  The first question is: What do you want?  The second: What do you Really want? The third: Is it working? The fourth: What’s your plan to make it work?


One point of asking these questions, clearly, is to identify and name your current situation.  But the other more subtle point is to remind you that the responsibility for change is YOURS alone.  We wouldn’t want that any other way.  If we are not in control of our lives, who is?  If I cannot change my life, who can? If I am going to get where I really really want to be, it is really really up to me.

Personally, I want to get there. I am done with wishful thinking and wistful lamenting. It is my desire to bring action and accountability to bear in my life so that I can get to a place of financial ease.


So, I hope that this blog article has been useful to you. My team’s goal in working with clients through the financial planning process is to build solid foundations, save wisely, invest profitably, and rest easy.  Until next time…… Be Blessed.


Richard Barbee
richard@sdp-planning.com
9724 Kingston Pike #701
Knoxville, TN  37922
865-357-7370 

These are the opinions of Richard Barbee and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. None of the above should be construed as individual legal, investment, or tax advice. Please consult with a legal, investment, or tax professional regarding your unique circumstances. Neither Richard Barbee nor Cambridge can offer legal advice.

Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Slate, Disharoon, Parrish and Associates, LLC are not affiliated.

Thursday, August 24, 2017

Setting the Stage: How should we think about money in mid-life? 2

Welcome to 

Middle-aged Money Man 

a blog devoted to considering and choosing the wise money moves 
one needs to make between the ages of 35 to 55.

Setting the Stage:
How should we think about money in mid-life?


Cash. Income. Money. Savings. Wealth. These are words that financial professionals toss around quite often. And it seems that they use it differently than the average client.  A workable definition and a specific knowledge of how these words apply to you are very important.

This is especially true in mid-life…. from ages 35 to 55.  As stated before, my review of all of the blogs that are out there regarding money matters, it seems that most blogs focus on the bookends of life’s stages – beginning (millennials) and end (retirement and legacy planning).  But all of the good stuff happens in the middle.

If you are like me, I had no control over my money until my mid-30s.  I was the kid who got 2 credit cards in college, borrowed too much in student loans, spent impulsively on games and things of no worth, did not save anything, and wasted financial time in my 20s.  That was me.  I admit it.  So, turning 35 and then 40 were times of revolution in my life.  I had to grow up, develop some reasonable budget, buy a house, and more.

I spent my time digging out of consumer debt, disciplining myself to save for a down payment on a mortgage, prioritized my overall spending, and created a savings plan.  I did it! But it was painful…… and filled with setbacks.

So, here I am in my mid-40s. I like to think that I know the real value of a dollar now. All of those pieces of advice from my grandfather about money seem to get truer every week.  He grew up in the Depression and was faced with very hard financial choices early in his life. He had children in his early 20s. He came to understand that just enough money means survival, but generating more and additional income meant freedom.

In all of the areas of financial planning, few if any exert such influence as Cash.  Cold, hard cash. Liquid cash (ability to access it quickly).  Cash savings. Emergency cash.  Obtaining adequate cash for living expenses is one of our first tasks in adult life. Developing the discipline to delay gratification so that we can save for the future is another skill we must develop.  The idea of having adequate cash on hand, earning reasonable interest, and being prepared for unforeseen events are life skills that we (hopefully) develop in our 30s.

So, in setting the stage for all of blogs hereafter, I want to share some cash principles that I value. I want to emphasize the importance, the need, for always maintaining a sufficient amount of money on hand. Here they are:

1.  Cash is King, and Impulse Control is Queen:  There is a comfort in knowing on some level that you have adequate cash.  For me, of all the assets I can own, cash is number one.  Cash is a tool that makes so many things possible.  Before you invest in anything, build up cash reserves into a meaningful savings account and emergency funds account.  Determining to build cash reserves, and doing it, is a hallmark of responsible financial management. Before debt payoff, before investing, before fun….. save.

2.  Cash should be kept in a Savings Account for specific purposes: Savings account are different than and separate from emergency funds, education funds, down payment funds, and so on.  A savings account can be sub-divided into vacation funds, travel funds, furniture funds, bicycle funds, or whatever.  In general, a savings account is for specific things or experiences.  Of course, there can also be part of the savings account set aside just as miscellaneous money, to have on hand.  I recommend a minimum of three bank accounts: checking, savings, and emergency. The self-discipline to keep each account separate and funded is a sure sign of great money management.

3.  Cash should be held in a separate account as Emergency Funds:  One item that clients often resist with the planning process is the establishment of a separate account for emergency funds.  Some clients want to choose to mix these funds together with savings.  I recommend that you resist that temptation.  In fact, I recommend that you start an account for emergency funds at a separate financial institution (bank, credit union, etc.).  The idea behind this is to have a cash account that is accessible same day, but is almost never thought of or seen.  This account is for truly unforeseen, unexpected expenses such as a medical event, broken washing machine, need for a speedy repair to your home, or a surprising bill of another kind.  Refuse to live by the credit card or to feel that you must drain your checking account for these types of events.  Remember, emergency funds can be built over time, starting low and ending at a specific number.  Prepare for that which cannot be prepared for.

4.  Cash Reserves are Tricky; you probably need to have more than you think you do:  When I ask clients how much they need in savings and emergency funds, I get big variance in the answers.  Some believe that they should maintain about 1 month of emergency funds while others believe it is more like 6 months.  The numbers are even more disparate with savings accounts.  I hear numbers from $1000 to $50,000.  Whatever the number, there are a few considerations in determining how much is enough.  Some of these include income level, monthly living expenses, health, condition of car and house, ownership of a business, and much more.  In choosing the number that is right for you, let me suggest two conditions.  First, choose to believe that it is more than the number you identify.  Add 20% to that number. That‘s closer to your number.  Second, set a minimum for whatever number you choose.  For emergency funds, I would recommend an absolute minimum of $2500.  For savings accounts, I would recommend a minimum of $2000. With added income and risk, just add to the minimum appropriately.

5.  Cash allows for Opportunity Investing:  When we have achieved a certain place in life, many of us start looking for other types of investments, additional streams of income, side jobs, and the like.  It could be that we begin considering rental property real estate or beginning a home-based business.  Cash reserves allow us more freedom and an increased level of opportunity.

6.  Cash is a type of Counterbalance:  Cash can be a type of anchor.  When I keep cash levels adequate, it is easier to endure market downturns, job loss, income interruption, medical emergencies, car problems, and the general stress of every day.  I feel like my supply chain is full.  Life seems more manageable.  When I invest every dollar I have, a market downturn may lead to panic.  But, when I maintain a proper balance in cash, I am more able to maintain a long-term view of the markets.  If one member of a couple loses his/her job or suffers an injury, cash reserves come to the rescue.  For whatever life brings your way, cash can be one way in which you keep an even keel.

7.  Cash Control builds Confidence:  I’ll go ahead and say it…. I feel more confident when I have money in the bank…. when I am not living paycheck to paycheck.  I carry myself differently when I have money.  I am more assertive, happier, able to relax, and have more fun when I keep adequate cash in checking, savings, and emergency accounts.  That confidence leads me to feeling that I am in more control of my money, that life is gonna be better.  It produces a calm, solid knowledge that I can do tomorrow… and the next day.

8.  Cash offers Flexibility:  Some of our clients really, really want to pay off debt as soon as possible.  That’s great. But, some get too aggressive in their debt or mortgage payoff plan and become Cash Poor.  A few of our clients over-contribute to their 401k or IRA instead of maintaining an adequate amount of cash on hand.  I cannot overstate the need for excess cash……. because life is unpredictable.  Before you know it, dad needs a crown for his molar, mom needs to repair the car, and kids… (well we all know that expenses with kids are innumerable…haha).  Be wary of trying to pay off debt so quickly that you sacrifice proper cash management and reserves.

9.  Cash just Feels Good:  I am a very spiritual person, believing that security and happiness do not start with or grow from money.  BUT, there is a feeling of comfort and self-respect that grows from being able to build cash reserves.  Having an emergency fund of 2-3 months just Feels Good.  Knowing that you can pay for a future vacation with cash just Feels Good.  If your refrigerator breaks, it is very nice to know that all you need to do is write a check for a new one (instead of going deeper into debt).  Money may not buy happiness, but it does seem to put a down payment on peace of mind.


There is never a need to feel ashamed of not having sufficient cash.  I would never recommend that a person ties their sense of worth and meaning to how much cash they possess.  However, life’s stresses and unforeseen events and costs are going to happen.  Usually, when we least expect them.  Start now to build up cash reserves.  If you use 100% of your income for expenses and debt repayment, consider adding another stream of income or negotiating with creditors for a slightly lower cost in order to save something.

So, I hope that this blog article has been useful to you. My team’s goal in working with clients through the financial planning process is to build solid foundations, save wisely, invest profitably, and rest east.  Until next time…… Be Blessed.


Richard Barbeerichard@sdp-planning.com9724 Kingston Pike #701Knoxville, TN  37922865-357-7370 

These are the opinions of Richard Barbee and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. None of the above should be construed as individual legal, investment, or tax advice. Please consult with a legal, investment, or tax professional regarding your unique circumstances. Neither Richard Barbee nor Cambridge can offer legal advice.

Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Slate, Disharoon, Parrish and Associates, LLC are not affiliated.

Hello Folks !!


Welcome to 


Middle-aged Money Man 

a blog devoted to considering and choosing the wise money moves 
one needs to make between the ages of 35 to 55.


So, if you were born between 1965 and 1985, you're gonna find lots of helpful tips and information here.  But why would I do this?

I am convinced that the decisions we make from 35 to 55 either rescue from past bad financial decisions or enable us to build consistently compounding cash.  The ways in which we think and act in these specific years will determine the second half of our lives.


In reading popular financial blogs that are active at this time, the topics seem to be focused on three subjects: 

1. Millennials
2. Debt Rescue / Reduction
3. Retirement Planning

ALL great subjects. ALL very needed in the blogging space.  ALL useful.

But what about the rest of us......... those of us born 
after the Baby Boomers and before the Millennials?




It is my opinion that those of us in the middle of life face FAR MORE financial questions and challenges than any other group.  We have to deal with a wider range of issues than either of these groups.

My name is Richard Barbee, and I am the Middle-aged Money Man.  I am 47 with two young boys. I am a homeowner, business owner, and am currently dealing with LOTS of things related to money. I am right in the middle of this challenge, facing the same daily and weekly and monthly issues that you are.

You may be asking:

How do we prepare ourselves to even get ready for 'retirement' (if that ever comes)?
Can I develop financial discipline when there are limitless options and opportunities?

How do I juggle all of the current money obligations that I have?
Can I have some fun with money now, while doing all the wise things I need to do?

What do I need to do first, second, third, and so on?
What is the best use of my money and how do I put it into action?

How can I best prepare to care for my own parents down the road?
What are the best ways to teach my children financial responsibility?

AND MANY MORE....



Well.... I hope this blog offers you an efficient and productive use of your time.  I will address some of the following issues:

1. Cash - cash flow, cash accumulation, cash reserves, cash liquidity, savings
2. Debt - debt management, good debt, bad debt, leverage, opportunity, getting out of debt
3. Legal Documents  - wills, powers of attorney, business entity formation, trusts

4. Insurance - risk management, home & auto, umbrella policy, life, disability, business, liability
5. Mortgage - payoff or manage, extra payments, strategy, complicated schemes, refinance
6. Cars - lease, buy, refinance, used vs new, maintenance, strategy for purchase

7. Investments - when, where, ways to invest, contribution rate, strategy, purpose
8. Medical and Long-term Care Planning - parents, special needs children, personal care
9. Business - planning, life cycle of ownership, maximizing personal wealth, retirement plans

10. Education - planning for college, debt or no debt, parental co-signer, grants
11. Legacy - parenting, adult children, charitable giving, tithing, grandchildren, trusts

So, if these sound interesting or helpful, Bookmark This Blog and stay tuned.  I think you will be glad you did.

Be Blessed,

Richard Barbee
richard@sdp-planning.com
9724 Kingston Pike #701
Knoxville, TN  37922
865-357-7370


These are the opinions of Richard Barbee and not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. None of the above should be construed as individual legal, investment, or tax advice. Please consult with a legal, investment, or tax professional regarding your unique circumstances. Neither Richard Barbee nor Cambridge can offer legal advice.

Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Slate, Disharoon, Parrish and Associates, LLC are not affiliated.


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