Category: Financial Advice
A financial advisor is an invaluable asset to managing your finances and providing you with personalized advice specifically for you. When you begin your relationship with your financial advisor you tend to have many face-to-face interactions as the long-term relationship is being established. Once a plan is in place the meetings slow down, but don’t...
“Awareness is like the sun. When it shines on things, they are transformed.” Thich Nhan Hanh Becoming aware of our spending is one of the most powerful tools we have. Why? In examining our spending we become aware of ourselves. Budgeting is simply being aware of our spending. Why is this keeping track of how...
Employer-sponsored retirement plans offering a Roth 401(k) have been slow to adapt to offering the Roth 401(k) alternative to their participants. In 2011 only 49% of plans included a Roth 401(k) option, however, in 2021 that number spiked to 88%. Although subtle, there are some differences between a Roth 401(k) and a Roth IRA we...
Cable and online financial news (for the average investor) can also be overwhelming and cause investors to make mistakes. The term I use for this news is “Financial Pornography”. I can think of many bad decisions made by viewers of financial porn but narrowed it down to four mistakes the average investor is likely to...
As a professional investor for almost 30 years, I rely on my own experiences to help guide my investment approach. Every crisis is different, but they often have things in common. The financial crisis of 2007-2008 was a difficult time for many investors, with stocks and bonds experiencing significant losses. While it’s impossible to predict...
A bucket list are activities we’d like to do before we die. Everyone has a bucket list, even if it isn’t written down. Don’t you catch yourself saying things like “one day I’d like to…” or “before I die, I’m going to…”? How will you fund those adventures if you aren’t planning for them? Frequently...
How widespread is the current banking turmoil? Should we be concerned about our bank deposits? Are the current challenges unique or similar to other banking turmoil in the past? Are there investment opportunities in this economic environment?
Although there is no foolproof formula for investing success or failure there are traits that those who do well over the long term possess.
As a financial planner with 25 years of experience, I have seen many investors succeed and others struggle. Through my experience, I have identified three primary characteristics or habits of a good investor and three characteristics or habits of poor investors.
As tax season is upon us, let’s talk about them! We know they are an essential part of our society, but nobody wants to pay more taxes than necessary. Fortunately, there are numerous ways to reduce your tax liability. Tax deductions are expenses that reduce your taxable income. There are several tax deductions available, such...
Retirement is a stage of life that everyone looks forward to, after years of hard work and saving. However, the key to a happy retirement is having enough money to sustain you during this phase of your life. One of the most important decisions you will make during your retirement is how much of your savings you can safely spend each year. In this blog post, we will outline the top 5 retirement spending strategies that retirees can use to plan their retirement spending.
by Randy Chalmers on May 5, 2023.
