Financial Myths

Ensuring your prosperity in the years to come using resources you have today.

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MYTH: Just Ignore Mail from the IRS

Another obvious financial myth, this title  “Just Ignore Mail from the IRS” is true only if you want your life to become more difficult and expensive.  In one of dozens newsletters I subscribe to, this one entitled IRS Tax tips provides a list of what To Do and Not To Do with IRS correspondence. (By …

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Cryptocurrency is Just a Fad

I don’t believe the title of this blog is true, any more than the Internet was ever just a fad.  Crypto and and hard & soft technology underlying it is simply too deep, complex, varied and vast to just disappear. This article by Gritt Trakulhoon (love that name) is the most realistic, reasoned take I’ve …

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Is the Sky Falling (Again)?

There’s a lot going on in the world right now. I thought this was going to be about the $3.5 trillion budget deal or what to do with any child tax credits that may be heading your way. But then global markets jolted on fears of new viral variants. Is the sky actually falling? Could …

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It Is Reasonable To Expect 8-12% Market Returns Over The Next Ten Years

The title of this blog is indeed a solid myth. Before I project asset growth and income flow in Retirement Analyzer I have analyzed the client’s current portfolio and compared it to my recommended allocation.  To their disappointment, I routinely reduce the assumed rate of return (ROR) by half while keeping the same volatility.  So, for example, …

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You Can’t Spend More Than 4% of Your Retirement Savings Without Going Broke

Yes you can!  Another easily disproved myth. In their study “Why Annuities Work Like a License to Spend”  David Blanchett and Michael Finke* conclude:. . .every $1 of assets converted to guaranteed income will result in twice the equivalent spending compared to money left invested in a portfolio. The size of the effect is large enough …

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