Blog


Jul

16

2014

Be Careful of Best/Worst Lists

The Concept of Subjectivity   Everyone has opinions, and some you like less than others. The reality is, as we go through life we form our own opinions and beliefs based on our own personal experiences, feelings and desires. This is called subjectivity. This is the opposite of objectivity which is a philosophical concept related to reality and truth. For example, I knew a person...

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Jun

17

2014

Being Rich Doesn’t Make You Smart!

Take athletes & celebrities for example. They are no different from the rest of us when it comes to making major money mistakes. It has been reported that 78% of NFL players, 60% of NBA players, and a large percentage of MLB players file bankruptcy within 5 years of retirement. Recently, we lost actor Phillip Seymour Hoffman at the young age of 46 and actor...

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Jun

03

2014
There is no such thing as a “Free Lunch”

There is no such thing as a “Free Lunch”

  There is a quote in our business that says, “Fees are only relevant in the absence of value.” I truly believe this quote to be accurate in not only our business but in most. It is true; most everything that involves advice or work involves a fee. What we receive in value from the fees we pay will determine if the fee is worth...

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May

20

2014
Are You Ready To Retire?

Are You Ready To Retire?

Retiring can be a very intimidating subject. Where is your income going to come from once you pull the plug? How much will you need? How long will you need the income? These are all important questions you need to address. You have one chance to get this right and the more prepared you are the higher the probability of success for your retirement. There...

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May

06

2014

When is 20% not 20%

Well actually, this is kind of a trick question, but here it goes. I give you a dollar bill and the next year you lose 20% of it in an investment. The good news is the very next year you make back the 20% you lost, how much do you now have? The knee-jerk answer is “well I lost 20% but made my 20% back...

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Apr

28

2014

What Is Important to You About Your Money?

What a simple yet powerful question. Ask yourself “what is important to me about my money”. The answer will vary for everyone, yet most will be similar in nature. Answers will be very personal, honest, and sometimes passionate. The bottom line is that the answer to this question will reveal your true feelings, hopes and fears about money. I ask this question to all new...

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Apr

13

2014

Investing & Dieting have a lot in common

We are not as smart as we think! There is no question that today we know so much more about investing than we did, say 40 years ago. We have low cost investing, internet trading, infomercials running 24/7 on how to make money, and advice on gold, oil and lakefront property everywhere we turn. You name it, it’s out there. The problem is that even...

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Apr

04

2014

The Retirement We Imagine vs. The Retirement We Live

Everyday in the Midwest, we see what imagination vs. reality is like, and I am not talking about the stock market. Let’s look at something as easy to predict as the weather. How often do you hear of a 70 degree, sunny day yet it turns out to be 58 and cloudy? Practically every day it seems lately. Let’s relate this to retirement. To some...

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Mar

31

2014

The market is at an all-time high – what do I do now?

Well, that really depends on which direction you are looking. Certainly, looking backwards in time we are at or near an all-time high. The Dow Jones is sitting at 16,300, the S&P 500 is at 1,855 and the NASDAQ is at 4,226. Do you remember NASDAQ 5,000? That was 14 years ago; we still have a ways to go to get there! In most cases,...

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Mar

24

2014

Life Insurance – Cont’d

Last week we looked at the need for personal and business life insurance and how to go about determining how much protection is needed.  This week we’ll focus on the types of life insurance available, term and permanent. Term life insurance is protection for a specific period of years or offered by employers through a group plan. The costs are the lowest I’ve seen in...

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