 If you were under 30 and had $500 to spend, what should you do with it in this economy?
By Brett Danko, CFP®
Congratulations on your $500 windfall! You have several options . . .
- Treat your friends to a night on the town
- Buy that new electronic gadget or that perfect outfit that you've been eyeing
- Evaluate your current financial status and make your money work for you
If you chose A or B, you are in the majority among young professionals. If you chose option C, you are a bit more fiscally responsible than your peers. Whatever your choice, you'd be surprised to know the effect over time of spending that $500 wisely.
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 What Does Money Mean to You?
By Tara Conti, CFP®
Most of our beliefs are learned when we were very young, usually before the age of 5. And they continue to shape and filter how we see and feel about the world throughout our lives. They can empower us, as well as limit us or hold us back.
Unfortunately, establishing a healthy relationship with money is not something that is taught in our society. The majority of us learns and makes up stories about money based on what we see and hear from our parents, friends and family at an early age.
Do you understand how your money beliefs influence your behavior and financial habits and lead to the financial results in your everyday lives?
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 Why Fee Only?
By Chuck Stanley, CFP®
It is important for a potential client to understand the different ways advisors, and their firms are compensated and how that impacts the clients' investment returns.
Generally financial advisors are paid either by charging fees or earning commissions.
Commission-Only Advisors earn their income by selling financial products such as insurance or mutual funds, or may also earn a fee for trades that they execute.
Fee-Only Advisors earn their income by charging fees. Some common methods include an hourly rate, an annual or retainer fee or as a percentage of investments under management.
Fee-Based Advisors earn their income using a combination of fees and commissions.
As Fee-Only Advisors, we want you to understand financial advisor compensation, the hidden fees that some advisors may charge, and how those fees may impact your financial goals.
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 Business Succession Planning:
Buy-Sell Agreements
By Yvette E. Taylor-Hachoose, Esq.
Do you or someone you know own a business?
Business succession planning, including ownership succession and management succession, is critical to business owners. Both older business owners approaching retirement as well as younger business owners -- whose failure to plan could have a greater financial impact -- should take care to plan for inevitable changes in the ownership of their businesses. The buy-sell agreement is often an integral part of such planning.
Learn more about protecting your interests as an owner, preserving the value of your business, and preventing potential disputes when transition events occur.
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In this issue, the Monitor welcomes guest columnist Yvette E. Taylor-Hachoose, an attorney practicing in Bucks County, PA. 