Invest Your Money

Importance of Maintaining a Sell Discipline

When you make an investment, you rely on an investment thesis. The investment thesis is based on company fundamental attributes and valuation. Why is a particular stock attractive? Is there a catalyst that will improve earnings? Will the company benefit from a changing competitive landscape? Are there operational or regulatory risks on the horizon? Is the valuation attractive? Being disciplined and considering both fundamentals and valuation are essential when investing in stocks. Being undisciplined and only focusing on fundamentals or on valuation could have negative consequences. For some “hot” sectors, exuberance and a “fear of missing out” can elevate valuations across the board beyond reasonable levels. At the same time, there is a difference between buying a stock that is misunderstood or out of favor and buying a stock that is declining in value for a valid reason. Changing Fundamentals A change in fundamentals will have an impact on your…

Creative Approaches to Philanthropy

Managing your financial life also involves philanthropy, or investing in others. November is a time when we all think about giving back. There are many facets to philanthropy besides contributing financially. We have numerous opportunities to support important causes and not all involve money. You can donate items, give your time, or share a talent. In this guest column for the Daily Herald Business Ledger, I profile two impactful organizations that enable you to give in innovative ways. Check out the full article below: 

WGN Radio Wintrust Business Lunch – How millennials can save a million dollars for retirement

On August 1st, Nancy Doyle was a guest on WGN Radio Wintrust Business Lunch. The topic was how millennials can save a million dollars. It is important to start early and be consistent. Save and invest every year. You also must be disciplined. Once you invest that money, you cannot touch it. Last, use reasonable assumptions for annual investment returns, or what you expect to earn on your money every year. Note – the segment begins at 23:45. WGN Radio Wintrust Business Lunch

Millennials, Rethink Your Approach To Retirement Planning

US News recently quoted me in a post that helps Millennials rethink their approach to retirement planning. For Millennial’s, retirement can seem a long way off. It is never too early to start planning. The idea of saving $1 million for retirement can seem like a lofty goal, but it is attainable if you are disciplined. It is also important to use realistic assumptions for returns and keep fees low. See full post below.

What is Your Time Horizon?

What Is Your Time Horizon? Different goals have different time horizons. Some are short term—such as establishing an emergency fund—and some are long term, like retirement. Tackling all your savings goals at once is unrealistic, so you should prioritize. The most immediate savings goal is your emergency fund. Experts recommend that you have an emergency fund sufficient to cover six months living expenses. Assets in the emergency fund should be very liquid such as cash in a savings account or in a money market fund. You may need a bigger emergency fund in some circumstances: If you may face hurdles when looking for a new job, such as geographic restrictions or the need for flexibility in terms of travel or work hours. If you have health issues or a dependent with special needs. If you dip into your emergency fund, replenish it as soon as possible. Saving enough for retirement…

Financial Tip: Priotize Building an Emergency Fund

I was recently quoted in a blog published by US News on the importance of establishing an Emergency Fund. Investing your money starts with establishing your savings goals. Revisiting your savings goals is a great resolution for 2017. Prioritize your savings goals based on the different time horizons — near-term, long-term, and intermediate-term.  Establishing an emergency fund should be a top near-term goal.

Investing in Others

Be Thoughtful About Giving Back Consider having a family giving policy or charitable mission statement and prioritize the causes you wish to support financially. Evaluate donations the same way that you analyze investments. Look for organizations that use resources efficiently so your donation dollars will have the biggest impact. Analyze the percentage of donations to an organization that are used to cover administrative and fundraising expenses. The percentage of donations spent on administration and fundraising should be available in a charity’s literature. You can visit Charity Navigator at and look up a charity. The Better Business Bureau also rates charities.   Keep Track of Donations Keep track of this year’s donations and the acknowledgments, thank you letters, and emails, in a current year tax file, which makes it easier to recall donations at tax time. Note the date, amount, and check number (if you wrote a check) on the…

Invest Your Money

Invest Your Money is one of the four pillars in Managing your Financial Life.  The others are Get Organized, Analyze your Financial Profile, and Educate Yourself About Investing. The following is a collection of posts that include important guidelines to follow. Please keep checking back as this list is constantly growing!