This is a mercifully short blog just to drive home a few points.First, the heading -30 + 43 = 13 is indeed a myth, it is false . . . if we’re talking about rates of return. The correct math is this; -30 + 43 = 0 or, more precisely, -30% + 43% = 0% […]
I should point out, again, that the titles of these blogs are Financial Myths. Especially this one.Conversions from your pre-tax retirement accounts such as: Traditional IRA SEP IRA 401k 403b SIMPLE IRA TSA. etc. must be calculated every year to be sure you don’t bump yourself up into the next tax bracket . . .
EVERYONE SHOULD DO ROTH CONVERSIONS Read More »
Well, all know this isn’t true. But it isn’t your fault. This last year Gary Duell was the procrastinator. None of the smartest people in the room (not including yours truly) could agree on what was going to happen and what to do about it. Now that a major source of craziness will largely
Financial Advisers Keep Their Clients From Procrastinating Read More »
Well, this is a solid myth, that’s for sure. Smart and ethical CPAs are recommending that their clients not just walk, but sprint away from the Memorandum Deferring Payroll Tax Obligation. Let me preface this by declaring that I’m not an attorney and that all of this is my opinion. But I can read and
MYTH : Trump’s Social Security Tax Holiday Will Help Employers and Their Employees Read More »
I want to profusely thank Brian Love for his excellent Behavioral Finance article in the latest issue of Financial Advisor IQ (The Incredible “Shrinking” Advisor). Love’s article reiterates why the most important aspect of our profession is not securities analysis or projecting rates of return. So I title this post with the myth that you should
I hope it isn’t getting too redundant for me to remind you gentle readers that the headings of these posts are MYTHs. This one is no exception. Sort of. Depending on who they work for and the kind of work they do, financial advisers are indeed somewhat screened by regulators. After all, there are education,
All Financial Advisers Are Screened by State and Federal Regulators Read More »
Well, according to a recent survey by John Hancock Retirement Plan Services (as reported by the American Retirement Association) there is “an impressive retirement preparations gap among those who use the services of a financial advisor”(sic) and those who do not. Here are some stats: Regarding 401(k)s, those with advisers were more than twice as
ADVISERS DON’T MAKE ANY DIFFERENCE Read More »
Well, according to a recent survey by John Hancock Retirement Plan Services (as reported by the American Retirement Association) there is “an impressive retirement preparations gap among those who use the services of a financial advisor”(sic) and those who do not. Here are some stats: Regarding 401(k)s, those with advisers were more than twice as
ADVISERS DON’T MAKE ANY DIFFERENCE Read More »
This blog heading is colloquially true, especially when it comes to Investment Adviser contracts. A recent review of compliance violations found- first of all- that 22% of advisers didn’t have contracts with their clients. A contract isn’t required unless a fee of some kind is collected from or owed by a client. So if you
THE DEVIL IS IN THE DETAILS Read More »