Financial Lessons Learned from 3 Beloved Holiday Icons

159580-elf_6Christmas is that time of year when we all start to get a little bit sentimental. As we draw near with family and friends and enjoy special times of celebration, there is a certain warmth and happiness in the air. Family memories are made and special traditions are created. With that sentiment in mind, we would like to offer a bit of sage financial wisdom based on the examples of three iconic Holiday Characters.

Ebenezer Scrooge
Ebenezer Scrooge brings to mind the very picture of someone you don’t want to invite to the holiday party. At the beginning of his story, Scrooge is depicted as bitter miser who prefers to keep everything for himself without a care for anyone else. After seeing the error of his self-centered ways while visiting Christmas past, present and future, Scrooge finds that his newly beating philanthropic heart is not only good for his fellow man, but also for himself. This sentiment is still true today. Donating to charities is a great way to help those in need, while benefiting your tax outlook. The most important thing to remember is to give within your means and do careful research on the organizations to which you plan to donate before you write the check.

Buddy the elf
Buddy the Elf has only recently become an iconic Christmas character. His child like faith and always positive personality makes his holiday cheer infections. However, Buddy is an excellent reminder of how important it is to discuss money management strategies with your children.  Just as Buddy found himself in a very scary new world; without proper guidance, children and young adults can find themselves in a world of financial peril as well.

One of the biggest Christmas Icons is dear old Santa himself. His thrifty do-it-yourself style and ability to plan for and keep track of the wishes of all the world’s children is a true example of great organizational savvy. St. Nick teaches us the importance of making a list and checking it twice. In the case of a financial portfolio, his example reminds us that just because someone (or something) is on the “good list” one year, they can be on the “bad list” the next. It is crucial to keep track of your investments and ensure that everything is performing at its very best.

With the peak of the Holiday Season quickly approaching, the team at Financial Fiduciaries wishes you and yours the very best. We are thankful for our wonderful clients and the privilege it is to help them chart their financial paths and we look forward to a bright 2014 with each of them.

About Objectively Speaking

Tom Batterman, founder of Vigil Trust & Financial Advocacy and Financial Fiduciaries, LLC is in the business of representing the best financial interests of his clients. Having provided objective, fee-only financial management services for over two decades, he specializes in managing the investment and related financial affairs of individuals and mutual insurance companies who do not have the time, interest or expertise to manage such matters on their own. As an objective, unbiased professional who takes on a fiduciary responsibility to his clients, he guides clients to the financial decisions they would make themselves if they had years of training and experience and the time and expertise to fully research and understand all of their options. Founded in 2010 as an outgrowth of Vigil Trust & Financial Advocacy, Financial Fiduciaries, LLC is a financial management solution for individuals and mutual insurance companies who recognize they do not have the time, interest or expertise to properly attend to their financial matters on their own. While there are many financial “advisors”, most of them have investment products to sell and the “advice” they provide is geared toward getting their clients to engage in a purchase. As one of the rare subset of advisors known as “fiduciary advisors”, Financial Fiduciaries does not sell any investment product so its guidance is not compromised by conflicts of interest which plague ordinary advisors. Prior to his employment in the financial industry in financial advocacy and trust positions, he worked at a private law practice in the Wausau area in the areas of estate planning, tax, retirement planning, corporate organizations and real estate. He is a graduate of the University of Wisconsin-Madison and the UW-Madison Law School and has during his career held Series 7, 24 and 65 securities licenses. A longtime resident of the Wausau, Wisconsin Area, Tom is active in the community. He enjoys golf, curling, skiing, fishing, traveling and spending time with his family.
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