A Major Change To The Social Security “Do-Over”
Wednesday, March 2nd, 2011
The government just closed a very attractive Social Security loophole that used to give folks, if they used the rule correctly, what amounted to be an interest free loan. It essentially allowed you to take advantage of what I call a “do-over.” You could start collecting Social Security before your full retirement age, which for most people right now is age 65. You could take early Social Security benefits as ...read moreHidden Investment Fees…Exposed!
Thursday, January 13th, 2011
Read This If you Have Money in Annuities or Mutual Funds
Have you ever heard a stock broker, financial advisor, maybe even an insurance agent say something like, “Don’t worry the investment company pays me, or the annuity company, or the mutual fund, or the insurance company pays me, so you don’t have to?” That’s the answer one of our clients got from their former financial advisor when they ...read moreIs Your Financial Advisor Operating With A Poor (For You) Business Model?
Monday, January 10th, 2011
We have a client who, before coming to us, was using another financial advisor. Why did this person leave and come to us? The issue was a complete lack of follow up and on-going advice. Unless the advisor was calling to recommend another investment purchase, they never heard from them. This proved to be a big problem when they suffered through the 2008 market meltdown without any proactive action ...read moreA Nasty Tax Surprise If… You Have Money In A Mutual Fund!
Monday, December 27th, 2010
I’m talking about something called year-end capital gain distributions. And if you have money in mutual fund, even if it’s a fund that you’ve owned for years and years and years, you could be affected. Every year, mutual funds have to declare capital gains ‘activity’. That can affect you even if you have not sold your mutual fund. The internal buying and selling activity that goes on in your mutual ...read moreHow Will The Korean Conflict Affect Your Money?
Thursday, December 23rd, 2010
By now you’ve probably heard that North and South Korea started shooting at each other – which served as a reminder to me (and I hope you as well) that what we call “the economy” is no longer a US economy. It’s a global economy, and it becomes more and more global every day. Soon after the Korean event, the Dow dropped 150 points in one day. But the irony ...read moreWho Wouldn’t Want An Income You Can’t Outlive?
Wednesday, December 15th, 2010
Have you heard the reports about how the government is looking at giving 401(k) plans and their participants the option of moving some of your money into a guaranteed income annuity? If you’re wondering whether this type of annuity makes sense for you …keep reading. I should be specific, as there are many kinds of annuities out there -- deferred annuities, fixed annuities, equity index annuities and variable annuities. ...read moreWhy You Should Avoid Lifetime Annuity Payments In Today’s Economy
Wednesday, December 8th, 2010
In a previous article I talked about lifetime annuities – where you give up access to a lump sum of money in return for monthly payments, which can last as long as you live. One significant drawback with an income annuity is inflation. Inflation hasn’t been that high recently, but over the next decade and beyond, most experts expect it to start picking up. And when ...read moreHow Do Stock Options Work?
Monday, November 22nd, 2010
A stock-option basically gives an employee the right, but not the obligation or requirement, to purchase a certain number of shares of company stock at a set price at any time in the future before the option expires. Usually a stock option grant is good for 10 years, so if your company gives you an option to buy 1000 shares of company stock today and it’s trading at ...read moreSuccessful Investors All Have One Thing In Common…
Thursday, November 18th, 2010
Successful investors have a system. They have rules that they follow and that they don’t deviate from. Take Warren Buffett. In the 1990’s, he did not get into the Internet companies. People thought he was nuts. And what happened? The Internet bubble popped. Now, Warren’s back on top, well ahead of where he was back in the 1990’s when he seemed like the only person not ...read moreBefore Your Make A Charitable Donation…Read This!!!
Friday, November 12th, 2010
It Could Save You Thousands Of Dollars In Taxes
We’re getting to the time year when people start thinking about making a charitable contribution. It’s also time to think about strategies that not only can get you a tax deduction for your charitable contribution, but can save you even more -- sometimes thousands and even tens of thousands of dollars in taxes. Before you write a check to charity, ...read more2 Investment Bubbles Ready To Pop!
Monday, November 8th, 2010
Do You Have Money In Them?
In the early 2000’s, we had the technology bubble. More recently, we had the real estate bubble. Now, I see two new bubbles that may be developing – and may be putting your nest egg at risk. I’m talking about bonds and gold. The reason I won’t be surprised if there ends up being a bubble in bonds is that I just saw ...read moreMutual Funds Vs. Exchange Traded Funds
Wednesday, October 27th, 2010
This year’s been a little bit frustrating for investors. The sideways movement of the market obviously isn’t what any of us want. And if you have money in mutual funds, you may very well find yourself in a situation where your mutual fund is showing flat returns, and maybe even a modest loss for the year -- but at the end of the year or next year, you’re ...read moreAsset Allocation Myths You Need To Avoid
Monday, October 25th, 2010
Today, I want to take a closer look at mistakes that could cost you big money when it comes to your financial security and a worry free retirement. This might be a little controversial, and that’s okay. My purpose here is to get you thinking, and maybe further review and evaluate your own situation. 1. Spreading your money around means a smoother ride. This seems to be a very ...read moreThe Real Key To Happiness
Thursday, October 21st, 2010
In the game of life, you get to write your own rules
One of the biggest lessons I’ve learned from working with so many people over the years is that happiness really is more a function of your mindset. It’s about being honest with yourself. What is it that you really truly need, not want but need, to be happy? When I think about happiness, I think ...read moreNever Overpay For A Car…Ever Again!
Tuesday, October 19th, 2010
Whether you’re in the market for a new or used car, most people hate going through the drill of haggling with car dealers. If that’s not your idea of a fun way to spend the day, you may not be aware that there is a really good alternative out there to help you get a good deal on the car you want. I call them automobile brokers. Automobile brokers ...read moreFour Must Have’s For Proper Estate Planning
Friday, October 1st, 2010
Studies suggest and research shows that well over 70% of adults still don’t have basic estate documents in place. And I guess that’s understandable. Who wakes up in the morning in eager anticipation, thinking, “Today’s the day to talk about my estate documents?” Nobody I know of. But regardless of how old you are, everyone of legal age should have these basic documents in place; a will, a durable ...read moreSurviving Spouses – Don’t Make This Mistake And Overpay Your Taxes
Tuesday, September 28th, 2010
The death of a spouse can be a painful and confusing time. Unfortunately, it can also cost the surviving spouse big money in the form of overpaying on their taxes. You probably know that if you inherit an asset and then turn around and sell it, you’re only taxed on the increased value from the date that you inherited the asset. For instance, if you inherit a stock worth ...read moreAdvice For The DIY Investor
Friday, September 17th, 2010
If you are a do-it-yourself investor and are using mutual funds, how could you do it better? Look at lower-cost alternatives to mutual funds, and use ETFs (exchange traded funds). You could go from trading mutual funds to investing in individual stocks. I’ve known folks (but they are rare) that have done just fine getting in and out of stocks over time and taking a long-term view of the ...read moreDoes Your Broker Really Work For Free?
Monday, September 13th, 2010
I can’t tell you, honestly, how many times I’ve heard someone say, “I’m not happy with my broker, but I don’t really pay him, so I can’t really be that upset.” And when I tell that person that while they might not see the money coming out of their account, they’re still paying the broker, the person almost invariably says, “Oh no, I don’t. I don’t pay them anything.” Then ...read moreHow To Take Money Out Of Your Retirement Plan And Avoid The 10% Penalty Tax
Thursday, September 2nd, 2010
Most people know that if they take money out of an IRA before turning age 591/2, they have to pay a 10% penalty tax on the money. But did you know that there are actually some exceptions to the tax code? If you follow them to the tee, you can pull money out of your retirement account and avoid the 10% penalty tax. Here’s how; If you ...read moreThe Hidden Costs Of Your 401k !!!
Wednesday, September 1st, 2010
Most people think that as an employee participating in their company’s 401k plan, that there are no costs to them for their account. Some of the costs are paid by the employer, but some are also paid by the employee, they just don’t ‘see the costs’ deducted from their account! 401K retirement plans are sold by different types of vendors. Sometimes ...read moreShould You Listen To The Economic “Experts?”
Tuesday, August 17th, 2010
I am a financial expert. People turn to me for advice. But I will be the first to tell you I certainly have no way of knowing what’s next in terms of where the market is headed in the near future. And I want to remind you to avoid anyone who says or thinks they do. Everybody’s got an opinion. Everybody can back it up ...read moreIs The Economy Really Recovering?
Tuesday, August 10th, 2010
After a rocky period, right now the US economy seems to finally be doing better. Corporate profits the first quarter of 2010 increased to almost $117 billion over the fourth quarter of 2009, when corporate profits were almost $109 billion. We don’t have the results in for the second quarter just yet, but corporate profits certainly seem like they’re starting to increase. Which means things ...read moreWhy You Should Own Your Own Home Free and Clear
Friday, July 30th, 2010
From my experiences over the last couple of decades, I’ve observed that folks tend to have a less stressful and more worry free retirement when they don’t have the burden of debt in their life. Which is why I believe your ultimate goal should be to own your home free and clear at or before retirement. But occasionally, I get challenged on that concept on one ...read more4 Big Mistakes People Make Hiring A Financial Advisor
Friday, July 16th, 2010
I get a lot of calls and emails from people who aren’t happy with their investments – people who were led in a certain direction by a financial advisor, only to learn later on they didn’t have all the information they needed to choose the best financial advisor for them. The fact is, there are a lot of people out there calling themselves financial advisors, but sometimes ...read more4 Little Known Strategies To Boost Your Social Security Income
Thursday, July 1st, 2010
Whether you are collecting social security benefits now or looking forward to that day at some point in the future, there are some options a lot of people just aren’t aware of. They may or may not apply to you -- everybody’s situation is different – but they’re good to know about in case one of these strategies might be appropriate for you. The first strategy is ...read moreHow To Make Even More Money With Your Favorite Stock!
Wednesday, June 16th, 2010
Do you have a stock – a favorite company that you are partial to -- that you don’t want to get rid of regardless of what all the research or tea leaves might be indicating? We call this stock a legacy holding. If you have this kind of relationship with a favorite stock or two, then read on for some advice on how to make money – or at ...read moreHow Much Money Can You Safely Withdraw From Your Investments?
Friday, May 28th, 2010
It’s a common misconception -- that in order to have enough money to get through the rest of your life, you want a withdrawal rate of no more than 4-6% of your investment account(s). Maybe you are following this so-called rule right now. I don’t argue with the science or research behind the 4-6% rule. However, when you apply it to the real world; I think it is ...read moreThe Single Biggest Money Mistake Couples Make
Monday, May 17th, 2010
Years ago, I got a phone call from a gentleman, and the moment he called, I knew without a doubt something was wrong. How? Because this man had never taken an interest in his and his wife’s finances – he had delegated the job to her, and he never dealt with it. She and I would meet every two or three years. She ...read moreWill The Uptrend In The US Stock Market Continue?
Friday, April 30th, 2010
It seemed like the markets started off 2010 very similar to last year. Not quite as stressed out, but January and February were not, shall we say, stellar in terms of market performance. And then in March things came roaring back with a vengeance. So of course the big question now is, “Will the up trend continue?” It’s amazing what has transpired over the ...read moreNot Once, In 10 years, Did She Get A Single Sell Recommendation!
Monday, April 19th, 2010
Well, our friends in Washington DC pulled another fast one. No, I’m not talking about Obamacare. There’s a bill making the rounds in Congress called the “Restoring American Financial Stability Act of 2010”. There was also an ‘add on’ bill called the Financial Planners Act of 2010 that would have required anyone who held themselves out as a financial planner to register with a financial planner oversight board, ...read moreHope Springs Eternal…Even After Obamacare Has “Passed”
Tuesday, April 13th, 2010
In case you’re wondering, I’m not a fan of Obamacare. Even though it’s gone through, I’m still the eternal optimist. Here’s why. Some of you may remember over 10 years ago, Congress pushed through a tax that was referred to as the “Medicare Sur-Tax”. It affected people who were already receiving Medicare benefits and whose incomes were above a certain threshold amount – the number escapes ...read moreHow Much Of Your Money Is Going To Those Fat-Cat Wall Street Bonuses?
Wednesday, April 7th, 2010
We keep hearing stories about all those big Wall Street brokerage firms giving out multi-million dollar bonuses. I’ve even heard of a secretary getting a bonus of over $200,000! So how do you know if it’s happening to your money, and what can you do, if anything, to prevent it? The problem starts with where you’re getting your investment advice – especially if it’s from ...read moreReal Estate – Is It Time To Buy Yet?
Monday, April 5th, 2010
Depending on where you are in America right now, real estate might look like a very tempting investment. Across the board, housing prices have dropped by 50% or more, and interest rates have never been lower in our lifetime. What could possibly be bad about taking some money and putting it back in the housing market right now? Unfortunately, quite a few things can be bad. ...read moreOne Of The Best Gifts You’ll Ever Give Your Family!
Wednesday, March 31st, 2010
No one really likes to talk about death – especially with our families. It’s not exactly a way to lighten the mood at Dad’s birthday party or your child’s graduation. So we talk about football or swap recipes instead. The problem is, when we don’t talk about what we want, or what we’re planning, or what’s going to happen after we go, it all remains a mystery ...read moreINSIDE THE INHERITANCE TAX MESS
Monday, March 8th, 2010
I think by now most of you have heard that there’s no inheritance tax or estate tax this year. So if you’re planning on passing away anytime soon, this would be a good year to do it -- at least from an estate planning point of view. I’m kidding, of course. But in case you decide to take me seriously, you should know there’s ...read moreBond Strategies in a Rising Interest Rate Environment
Monday, February 22nd, 2010
It seems to me like we’ve been getting more and more calls and inquiries about the concern over bonds. People are wondering how they are going to perform when interest rates start to go up. In general terms, when we put bonds into someone’s investment account, we are buying an individual bond, and we intend to hold that bond until it matures or it’s called by ...read more
