“I hope to God I know what I am doing.” – General Dwight D. Eisenhower, Supreme Allied Commander Meticulous planning and a good deal of luck are two of the most important ingredients for success. Like the old saying goes, “Those who fail to plan, plan to fail.” This is true in creating a financial…
When Fees Go Up in Seconds, It’s Time to Go
A new client wanted to switch out of an annuity she had bought in her retirement account with a previous adviser. Needless to say, my antenna goes up when I see annuities in a retirement account because it is both unnecessary and expensive to own these insurance products for their tax-deferral benefits, when this feature…
Dream Hoarding Is the Ultimate Alternative Investment
Investors get what they DON’T pay for. Products like hedge funds, non-traded REITs and private equity are usually inferior to simple index funds. Expensive products ARE a decided advantage in the college application industry. According to Doree Lewak, “An increasingly common tactic is getting kids extra time on the ACTs and SATs because of a psychological…
Retirement Pyramid 2.0
Last week I created a semi-barbaric version of The Retirement Pyramid. Some constructive criticism included, “use a pen” and “stop dotting your eyes like a little girl.” I have lots of creative ideas but my fine motor skills are severely lacking. https://twitter.com/ReformedBroker/status/997917497474109440 A reader who calls herself Sequentialkady came to the rescue on Friday. She added…
It’s Monday Again…..When Is My Retirement?
Prince Harry doesn’t have to worry about financing his retirement but you do. Relieve the stress by reading our weekly retirement links. Too many choices in your retirement plan is a really bad thing. Forbes Even if you max out your 401(k) you can still mess things up. MarketWatch Oregon’s auto- IRA plan is off…
7 Questions She’s Afraid to Ask
“You are my 50th birthday present to myself,” a woman said to me, as we sat down to meet. “I’m tired of not feeling like an adult, it’s like I have a dirty money secret.” I’ve heard variations of this same theme many times. This is what women say to me when no one is listening….
The Retirement Pyramid
Imagine if Americans had a retirement pyramid on their refrigerator. We would all be wealthier and healthier. Sadly, we have a food pyramid (which most of us ignore) but no evidence-based guidelines for our retirements. According to The Wall Street Journal, an astounding 80 million Americans are in debt collection and 50% of retirement workers have…
Will Advisors Ever Heal Themselves?
The financial services industry is facing a tipping point. People desperately need unbiased fiduciary advice, yet the industry feeds them commission-laden products. Something has got to give. The industry’s moment of truth has arrived; not much different from the medical industry more than a century ago. 150 years ago, we faced an epidemic of overprescribed painkillers….
It’s Monday Again…..When Is My Retirement?
Happy Mother’s Day to all. Read our links and learn how to spend more time with the people that mean the most. Some small business owners are able to sock away up to $61k annually with this plan. Kiplinger It’s usually a bad idea to put your retirement funds in a friend’s business. MarketWatch Women would…
My Mother’s Gift
My mother, Lucy Grasso, 1945 While I think of my mother numerous times throughout the day, this week, just days away from Mother’s Day, I got a little wink from her. A client of ours sent us a note of appreciation. He and his wife have worked with us since 2015. Not to sound too…
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