Member Since December 2023
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About
Greg Welborn is a Principal at First Financial Consulting. He works with individuals and privately-owned businesses on financial planning issues including investment, retirement, and tax planning, among others. With more than 35 years’ experience, he has developed a strong track record of providing 100% objective advice, always focusing on the client’s best interests. A pioneer in the development of investment consulting services for individual investors, Greg is a respected authority on personal financial issues; he has lectured extensively, written for the Wall Street Journal, Orange County Register & The Los Angeles Daily News, and has assisted NBC’s Today Show in their weeklong series, “Money for Women.” Greg Welborn received a Bachelor degree from Occidental College, an MBA from the University of Southern California, specializing in finance and investments, and pursued a Masters degree in Economics, studying under Art Laffer, an advisor to President Reagan.
Greg Welborn
Published content
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The stock market can be a confusing place for beginners, but it doesn't have to be. Often accompanied by words like “volatile” and “risky,” the stock market is an intimidating and confusing place for many. While beginner investors may know investing in the stock market is a key part of building wealth, they may also tend to avoid it because they feel it’s too complicated for them to get involved in or that they don’t have the knowledge necessary to make smart investment choices. Here, the financial experts of Kiplinger Advisor Collective seek to demystify the stock market and break down some of the fears people may have around investing. Below, they discuss some of the key steps you’ll want to take when jumping into the stock market for the first time and why a little education and a plan can go a long way toward investing successfully.
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Learning what not to do can put you on a better path to success. In finance, there are all sorts of best practices that can help you build wealth and gain confidence with money. However, for every best practice, there is an equal number of bad practices that can derail your progress or even completely jeopardize your future success. And while failing to build a budget or letting ‘lifestyle creep’ take hold may not seem like they will have a major effect on your finances, it’s often the small mistakes that can lead to big trouble down the line. As leaders in the financial industry, the members of Kiplinger Advisor Collective are familiar with the kinds of mistakes that can negatively impact a person’s overall success with money. Here, they each share one financial “don’t” (or mistake) they always advise their clients to avoid, why and the impact it can have on their future.
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Such a sensitive subject requires a careful approach. Talking to your aging parents about their finances can be extremely difficult, but it can be important to ensuring they are supported and cared for in their later years. As parents grow older, they may find it harder to do the things they’ve always done, such as manage their day-to-day finances or make major decisions about money. They may also have certain wishes regarding their long-term care or what they’d like done with their assets once they pass on. Having these conversations with your parents early on can help ensure you’re on the same page and help them make the best decisions for their needs. However, approaching parents about this subject can be challenging, and parents may not always be receptive to getting advice from their children — even if they are grown adults themselves. To help make these matters easier for both parties, the financial experts of Kiplinger Advisor Collective each share one tip they’d give for how to approach this type of conversation with aging parents, and why implementing this tip can ensure everyone is happy.
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Getting on the same page now can ensure you remain successful throughout your relationship. Whether you’re a few months or a few years into a relationship, talking with your partner about money can sometimes feel awkward. You may have different goals for your money or different behaviors regarding spending and saving, and these differences can sometimes be the catalyst for arguments you aren’t sure how to solve. For couples who choose to blend their finances, getting on the same page about money is even more vital to long-term success. For your finances to work as one, you and your partner must work as one — and, according to the financial experts of Kiplinger Advisor Collective, follow these seven key steps. Below, they elaborate on each step, explaining why having meaningful discussions and ensuring you each have a stake in the game will not only make you stronger financially but as a couple as well.
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To change your finances, you’ll first need to change your thinking. The way people think about money can have a greater impact on their financial success than they may think. Whether it’s the way you were raised or a belief that you have come to over time, the mindset that you develop around your finances has a direct influence on the actions you take with money and your behaviors surrounding it. These beliefs can be positive or negative, truthful or a lie — but how can you tell the difference? Below, the financial experts of Kiplinger Advisor Collective list out some of the most common money mindsets people have that may actually be hurting their progress with money, detailing not only the reasons why but also how they can change and finally get their finances in order.
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Don’t leave your legacy up to someone else. While the main focus of your wealth-building journey may naturally be building up your wealth, it’s equally important to determine what to do with it once you have it. Whether you’re planning to give it away upon your death or would like to give some away while you’re still alive, planning for either situation can help you ensure your hard-earned wealth is distributed how you’d like, to whom you’d like and when. A common solution for wealth distribution is a will. A will offers you the opportunity to describe how you would like your assets distributed upon your passing; however, another popular solution is a trust, which allows you to direct the distribution of your wealth while you're still alive. While both are great solutions depending on your goals, a trust can have other benefits you may want to consider. Below, the financial experts of Kiplinger Advisor Collective outline six additional benefits of trusts and why putting your assets into a trust may be the best solution for you.
Company details
First Financial Consulting
Company bio
First Financial Consulting believes in fully empowering people to achieve their financial goals by providing totally objective financial advice. Accordingly, we work on a “fee-only” basis to remain free from any potential conflict of interest. Simply put, our success is measured by the success of our clients in achieving their financial goals.