Most folks are convinced the wealthy know some big financial “Secret” the rest of us don’t. Like, they went to “the right” school and met “the right” people. Or they heard about Tesla before anyone else did, or got in on the ground floor of Amazon. Or somehow, they cracked the code on those free […]
The Little Secret to Big Financial Success Read More »
Do you live within your means? If you answered yes, that’s a problem. Here’s why. Caleb and Jessica bought a new house last year and spent more than they planned. The expenses that accompanied their new home were more than expected. “We are still living within our means,” they explained to me, “but we can’t
Living Within Your Means is an Illusion Read More »
An old joke says that if you keep one foot on a hot stove and your other foot in an ice bucket, on average you should be comfortable. That line always makes me smile. It underscores a reality in the world of markets and investing—averages can be both mathematically accurate and experientially awful. Case in
The Problem with Those “Average Returns” Read More »
The stock market is at an all-time high. Which is great, right? Your 401(k) has never been higher, and you’ve never been richer! But wait. “What goes up must come down,” right? If the market is soaring now, is a dip—or a crash—just ahead? It’s a dilemma: Should we be content or concerned? Should we
Do These 3 Things When the Market is Soaring Read More »
When it comes to money, are you: (a) a financial wiz; (b) your own worst enemy; or (c) somewhere in between? In my 30+ years as a financial advisor, I’ve observed that by adulthood most people have developed a “financial self-image.” Maybe you’re one of those few souls who see yourself as good with money,
3 Ways to Improve Your (Financial) Self-Image Read More »
Bernie Madoff died this week. Madoff was the architect behind the biggest Wall Street fraud in history. The former chairman of the Nasdaq stock market index, Madoff positioned himself as a self-made financial genius. He claimed to know how to avoid market fluctuations and deliver steady, handsome returns. Famous clients like movie director Steven Spielberg,
Is Your Financial Advisor Trustworthy? Read More »
When my wife and I are on the interstate, nothing makes her more nervous than me passing an 18-wheeler. (In her defense, I’m not the one who would first feel the effects of a tractor-trailer swerving violently in our direction.) If she senses even the slightest movement our way, she ends up in my lap!
5 Ways You Can Be Safer Financially Read More »
How much income will you need in retirement? Here’s an eight-step plan for figuring that out. 1. Start with your current income. As an example, let’s assume you make $100,000 annually. 2. Assume some inflation. No one knows what inflation rates will be between now and your retirement. What we do know is that postage
Will Your Retirement Income Be Enough? Read More »
“Think I might be able to retire EARLY?” When I’m helping clients prepare retirement income plans, I often get this question. It rarely comes right away. In fact, many are initially unsure if retirement will be possible at all. But once we’ve gathered the relevant data, estimated how much income they’ll need in retirement, and
3 Facts About Early Retirement Read More »
I get questions all the time about saving for retirement. Clients ask: How much should I be setting aside each month? How big of a ‘nest egg’ do you think I’ll need in order to retire comfortably? Will Social Security run out of money before I’m 65? Should I even count on that? What mutual
The 6 Questions to Ask When Saving for Retirement Read More »
Speak with an Advisor