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 »
Would you like to know why I’ve gotten zerofreaked-out calls or emails from my clients because of the coronavirus, political upheaval or [insert your own freak-out factor]? It’s because we’ve already tested even worse scenarios (like the 2001-2003 recession) in their written retirement financial plans and they know they will be OK. However, that doesn’t
6 Financial Steps You Should Consider NOW Read More »
This is a myth. I don’t use some of them, the expensive ridiculously high commissioned restrictive poorly performing ones. But I agree with the authors of the article below: I neither like nor dislike “annuities” as a class because they are a widely divergent collection of financial tools. Some are indespensible and some are useless.
MYTH: I Hate Annuities Read More »
This is a solid, proven myth. The only trouble Social Security is in is the same trouble it’s been in since before it was signed into law 84 years ago: ignorant, malicious attacks by self-righteous ideologues. As quoted in Social Security Works: The most important takeaways from the 2019 Trustees Report are that (1) Social
MYTH: Social Security is in Trouble Read More »
The title of this post is a possibility, that holistic financial planning can be fun! But in my experience that is almost, without exception, a myth. Because holistic planning involves frank discussions of the following not-so-fun topics: Death– I ask my clients to complete a Life Expectancy calculator. Approximate longevity is essential for Social Security
Holistic Financial Planning is Pleasant ! 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
Yes this is a myth. And here’s a case in point from IRA guru Ed Slott’s recent article in Financial Planning magazine. The Greens were awarded $50,000 by the arbitrator! PRACTICE FINRA Award Goes to Client After Advisor’s Tax Oversight By Ed Slott April 11, 2016 Twitter LinkedIn Facebook Google + Email
All Advisers Are Well-Versed On Distributions From Retirement Plans 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 »
The heading of this post is, as usual, a myth. You can save money this year. Thanks to WealthManagement.com for some of these tips: I think all parents of college-bound kids are aware of the FAFSA. There is no charge for this application for student aid. And the early bird gets the worm; funds are limited.
I CAN’T AFFORD TO SAVE ANY MONEY THIS YEAR Read More »