Retirement rollovers operate in a dark world that is filled with terrors. Non-transparency and deception block out fiduciary light. Financial predators transfer low cost 401(k) funds into expensive house products. The end result is you end up financing the salesman’s retirement rather than your own. These people should give retiree’s the creeps and rightly so….
Do Well by Doing Good
Scott Dauenhauer, Tony and I caught up with Joey Fishman, Ritholtz Wealth Management’s ESG expert on the Planning to Teach and Retire Rich Podcast to discuss ESG and sustainable investing. In a climate of less government regulation, some companies are taking a stance on environmental, social and governance issues to reflect their missions/values. Investors, too, have become increasingly…
Be The Light
Make things happen or they will happen to you – this is true in both life and finance. Something very significant took place in Buffalo, N.Y. this weekend. A math teacher named Chase Mallia made something happen. For decades, public school teachers have been mercilessly exploited in their non-ERISA 403(b) retirement plans, often paying fees of…
It’s Monday Again…..When Is My Retirement?
If North and South Korea can make peace, you can plan for a successful retirement. Start right here by reading this week’s links. Repeat after me, NEVER LOAD UP ON COMPANY STOCK! Wall Street Journal Women, divorce, and retirement planning don’t play well together. Standard-Examiner Our retirement system is prejudiced against women. MarketWatch Time to…
Infopocolypse Now
Uncertainty is the only certainty for investors. Probabilities are the best we can hope for regarding long-term projections. How about the short term? Don’t waste your time. An example of factual overload combined with overconfidence is found in Thursday’s upcoming NFL draft. Despite an infopocolypse of data, the results are far from certain. The number two…
Magna Cum Lousy
Imagine: you give a teenager access to car keys when they have never driven a car or taken Driver’s Education. You simply tell them to drive carefully and you hope for the best. That would be setting them up for failure, and yet, we do this every day with personal finance. The stakes might not…
Suitably, Unsuitable
It’s impossible to calculate the price tag of “suitable financial advice;” often, it is never disclosed as merely suitable. Opportunity costs created by avoiding low-cost index funds are enormous. How about the tax consequences of withdrawing money from retirement accounts to purchase expensive insurance products? Suitability is no match for unbiased, comprehensive financial planning. According…
It’s Monday Again…..When Is My Retirement?
Retirement is a new concept. Up until recently, people did not plan on living too long after they finished working. You need to prepare. Here is some good news. There are more 401(K) millionaires than ever before. Investors Business Daily Many Americans retire and then go back to work. It’s not for the money. New…
Same Old Song
Our son considered his course options for next year. His dilemma was how to meet the visual arts requirement; art classes interest him like watching paint peel. We suggested a digital photography class. “I hear it’s a lot of work!” he said, “It’s not easy, you have to know about camera settings – you…
Oh Behave!
Bad behavior ruins many things. This is especially true regarding investing. Stacy Rapacon wrote this neat article for grow.acorns.com on the index card I created about market crashes. “It’s not just with finance. When you make decisions based on emotions instead of facts and data, it’s not usually going to turn out well,” Isola says….
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