Common Sense Saving

Print PDF

Written by Jean Borno, CIMA®, CHFC® | 15 December 2011

Printed in the ABA Journal

The old-fashioned common sense of our grandparents still stands as a reliable guide to money. Whether you are digging out of holiday debt or managing substantial assets, the principles are similar and are worth repeating.

Don’t keep up with the Joneses. Comparing and competing with others can lead to financial overextension. All your income disappears every month to support too much house, too many vehicles, and premium coffee. Many things that you see others enjoying are not paid for—those big spenders may be up to their ears in debt.

Read more...

Heading in the Home Stretch

Print PDF

Written by Jean Borno, CIMA®, CHFC® | 15 December 2011

With the end of work in sight, a Virginia lawyer brings his retirement up to speed

Printed in the ABA Journal

Kenneth Labowitz gives it about 10 more years. By that time, he’ll be 68, and he an­ticipates having paid for his three chil­dren’s educations as well as coming into some money through inheritances from his parents and in-laws.

It’ll be time, Labowitz says, to start doing “the other things I want to do in life besides work.” Other than not working, however, Labowitz isn’t so sure what retirement really looks like.

Read more...

Retirement Planning

Print PDF

Written by Jean Borno, CIMA®, CHFC® | 15 December 2011

Have you ever wondered whether you will be able to retire?

Do you know how long your retirement savings will last?

With the average life span increasing, many of us will have 30 years of retirement or more.

• Are you prepared for retirement?
• Will your savings and retirement income be enough?
• What forms of income will you have?
• Do you know what your income needs will be at retirement?

It’s never too early to start planning for retirement.

Read more...

How Much Life Insurance Do You Need?

Print PDF

Written by Jean Borno, CIMA®, CHFC® | 15 December 2011

This question requires careful consideration. First, ask yourself:
“If I died tomorrow, how much money would my family need?”

Insurance reduces risk and provides security for yourself and your family’s future. To know how much insurance you need, you’ll need to consider your lifestyle and what the possible risks that could affect it. When calculating how much life insurance you need, consider the following:

  • Estate Expenses
  • Funeral Expenses
  • Mortgage
  • Loans and Debts
  • Replacing Annual Income (number of years?)
  • Children’s education
  • Resources available at death: Savings, Stocks, Mutual Funds, Retirement Funds, Life Insurance, and Other Assets

Read more...

How Can a Financial Planner Help?

Print PDF

Written by Jean Borno, CIMA®, CHFC® | 15 December 2011

A Financial Planner can help you:

  • assess your current financial situation.
  • create a realistic plan to meet your financial goals.
  • understand how to meet your financial and retirement goals.
  • put your financial plan into action and monitor your progress.
  • update your financial plan to grow with your changing needs and goals.

Read more...

Who We Are

Private Wealth CFOs LLC is a unique wealth management firm based in Bethesda, Maryland. We are an independent, fee-only, registered investment advisor serving executives, entrepreneurs, highly compensated professionals, and retirement plan sponsors.  More

How We Define "Wealth"

For our clients, ‘wealth’ is about more than money.  It is your ability to do what you want, when you want and how you want.  Our responsibility is to help you get there. 

What We Do

We listen, rather than talk.  We gain a thorough understanding of your future needs, concerns, opportunities and goals that have a financial implication.  We then use our experience and our team to design a unique investment or financial planning strategy that reflects your personal situation. More

Why We Are Unique

Everything that we do is in alignment with the best interests of our clients, including the fee-only approach to how we charge for our services.  We define ‘what we do’ in terms of meeting our client’s needs.  We define ‘how we do this’ in terms of leading-edge investment and financial planning strategies.  We are your key trusted advisor. More