Blog


Oct

09

2014

Is A Plan In Your Future?

According to Allianz Life, at the end of 2013 only 16% of Americans were including Financial Planning in their 2014 New Years Resolutions. Believe it or not, that was less than half who included Financial Planning in their resolutions in 2009. Why? Why is setting up a Financial Plan so difficult or uninteresting to the majority of people? Here are some common answers: – 26%...

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Oct

03

2014
Golden Years Losing its Luster?

Golden Years Losing its Luster?

You and your spouse have weathered a lot; raising children, sickness & health issues, saving for retirement and caring for aging parents. Yet an unfortunate trend seems to be occurring. Fidelity Investments came out with a new study “2013 Couples Retirement Study”. The executive summary has some interesting statistics: – Less than one half (45%) or couples agree that day-to-day financial decisions are made jointly....

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Sep

25

2014
The High Cost of College

The High Cost of College

It’s hard to succeed in today’s world without an education; no one will argue that. However, the cost of college is ever increasing and unfortunately, more students are graduating with a tremendous amount of debt and the inability to pay it off. The statistics don’t lie: – According to the Federal Reserve Bank of New York, in 2012, more than 30% of student loan borrowers...

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Sep

15

2014

The Market Will Crash!

All right, now I have your attention. You probably assume I mean the stock market, right? Remember what they say about assuming. Well, I have no clue when or if the stock market will crash, but just for fun let’s take a look at some facts. The current Bull market is almost 5.5 years old (the average bull is 4.05 years) and the S&P 500...

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Sep

02

2014

No Trust in Big Brother – A Lesson in Irony

As I listen to our younger generation, I often wonder how they will do in retirement. The statistics are not good. According to a recent column in the Sunday Review (4/12/12), only 43% of eligible workers under 25 and 62% between 25 and 34 participate in 401k plans. This is low compared to the 70% or more of those over 45. Additionally, those under 25...

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Aug

19

2014

The Pension Dilemma

According to the Bureau of Labor Statistics, less than a third (31%) of employees were offered a traditional pension at work in 2010. Even though that is a very small number, it is very important that you know what you have and how it works. For those of you who have a traditional pension (defined benefit plan) it may be one of the biggest financial...

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Jul

25

2014

Classic 401k Mistakes

With so many people invested in 401k’s and so many employers dropping their defined benefit plans (pensions) it is no wonder that we get so many 401k questions on our live call in radio show. With this in mind, it’s important that you don’t make any of these classic mistakes. Not contributing up to at least the match. If your pension plan has a match,...

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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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