Financial Resource Management

01/24/2023

Good times at our 40(ish) anniversary party last year. A big thank you to all who have been on the journey with us and to those who continue to join the family. Looking forward to the next 40!

08/24/2022

Student loan debt forgiveness: good deal or bad deal?
Today, Biden announced his plan to forgive student loan debt (up to $10,000). This applies to individuals making less than $125k and households making less than $250k. Seems like a sweet deal, but before thanking the current administration for yet another handout, let’s talk about it.

The first part of the debate is the fairness of the bill. The main argument here comes from those who have been diligent about debt repayment: “If I’ve worked overtime to pay off my student loans, how is it fair to reward the crowd who maybe hasn’t been as fiscally responsible?” It’s a good question. And I don’t have the answer. Let’s back up for a second.

Student loan debt is a national crisis. You can’t buy a Bud Light until you’re 21. You can’t buy a Juul until you’re 21. You can’t rent a car until you’re 25. But taking out a loan for several hundred thousand dollars? Sure Mr. 18-year-old, just sign here. Majority of 18-year-olds kids don’t understand the magnitude of that decision. How this can saddle them with potentially lifelong debt. In 2015, over 100,000 Americans had Social Security benefits seized to repay defaulted federal student loans.

$10,000 in relief isn’t going to fix the underlying problem of why student loan debt exists in the first place. It doesn’t matter how much student loan debt you forgive. Underlying problem is the cost of tuition. These universities and colleges charge whatever they want. Do you think they’re motivated to cut their costs now that the government has stepped in with $10,000 freebies? I’d argue it has the opposite effect and could actually make matters worse.

The point is, the interests of the students and interest of the institutions providing education are not aligned. And the student loan crisis is likely to persist until they are. The government needs to stop putting band aids on headwounds and work to fix the root of the problem.

-Bo

U.S. President Joe Biden said on Wednesday his administration would forgive student loan debt for many borrowers and would extend a pause on student loan repayments until Dec. 31 of this year.

08/18/2021

The FRM Family is growing!

In addition to adding Kammy King to our support staff in June, both Bo and Wanda welcomed new babies this summer.

05/24/2021

Great time at our annual FRM shredding event last week.

Thanks to all who came out!

05/12/2021

47% of American adults are raising kids and looking after aging parents.

Here are our tips for the so-called "Sandwich Generation."

05/11/2021

Join us next week to celebrate the end of tax season. We’ve partnered with ProShred and will have a shred truck on site next Wednesday, 5/19 from 10-2.

The IRS typically only cares about the last 7 years of tax documents, and keeping to many boxes in the attic is a fire hazard, so stop hoarding and bring em on!

**This event is open to the public. We’re located at 211 E. Six Forks Rd, down from North Hills and across from Gym Tacos.

05/11/2021

Real estate is a valuable asset and tax favorable. Listen this week as we discuss using real estate effectively in your financial plan.

How to listen:

On the Crystal Coast, tune in to hear us on WTKF 107.1 FM Wednesdays, 7:30 – 8:00 a.m.

In the Triangle, listen to us weekly on WTKK 106.1 FM Saturdays, 2:00 – 3:00 p.m.

https://www.frmnc.com/media/

Media Radio Tune in to our radio shows which explore a key financial topic each week, ranging from common financial mistakes and the dangers of…

05/09/2021

Happy Mother's Day to all of the amazing moms and grandmas out there!

05/06/2021

While all Americans struggled, the self-employed found themselves with fewer resources to tap for surviving the pandemic financially.

But Congress and the IRS were aware of the challenges these individuals faced. As a result, there is a key credit that all self-employed individuals should take on their 2020 tax return.

2020 was a challenging financial year for many. This was never more true for the self-employed. But there is a valuable credit that might be accessible for this group, provided they meet the requirements.

05/04/2021

Join us as we discuss Mutual Fund and ETF investment options on our next show.

How to listen:

On the Crystal Coast, tune in to hear us on WTKF 107.1 FM Wednesdays, 7:30 – 8:00 a.m.

In the Triangle, listen to us weekly on WTKK 106.1 FM Saturdays, 2:00 – 3:00 p.m.

https://www.frmnc.com/media/

Media Radio Tune in to our radio shows which explore a key financial topic each week, ranging from common financial mistakes and the dangers of…

04/29/2021

Myth busted! We don't charge for initial consultations. We welcome the opportunity to get to know you and to learn about your financial goals.

04/21/2021

Retirement can be confusing so it's important to be in the know when it comes to possible mistakes. Here are five things that people get wrong about IRAs and 401(k)s.

Five things that people get wrong about retirement arithmetic.