Financial Advisor / Wealth Management

In January, I hosted a webinar looking at President Biden’s proposed tax plan from the campaign trail. The webinar reviewed his proposals, assessed likelihood of passage, and shared ideas on minimizing taxes. This week we have a draft House tax bill attempting to act on his ideas. This follows action by the Senate over the summer. Directionally, the draft legislation feels similar to Biden’s proposals, but there are major differences. In January, I shared that items on the left had a higher chance of passing than items on the right. Minor Tweaks vs. Major Overhauls Source: Fiducient Advisors That prediction…
Loss is never easy, but grieving the loss of a spouse is especially tough. Losing your life partner can make it especially challenging to make decisions on your own. Not because you aren’t capable, but because you’re used to having someone by your side. Even though money may be the last thing you want to worry about when you become a widow, working through it and learning to balance your money won’t just help you financially, it will help you on your healing journey, as well.…
Modern Monetary Theory. MMT for short. Nonsense, or an innovative theory liberating us from deficit fears so we can invest appropriately in our country’s future? Reading The Deficit Myth: Modern Monetary Theory and the Birth of the People’s Economy by Stephanie Kelton helps give you an answer. Kelton is an economics professor and leading MMT expert.  The Deficit Myth explains MMT by first shattering what she calls the deficit myth and then presenting a framework for fixing the country’s ails through more spending. The myth-busting was somewhat informative and accurate. The conclusions drawn from that myth busting were less so…
Many of us in the working world dream of retirement — but a good portion of millennials don’t think they’ll ever make it to this phase of life. A recent GOBankingRates survey found that about 1 in 5 millennials (19.6%) believe that they will never be able to retire — and they have legitimate reasons to feel this way. “There are certainly mounting obstacles for millennials preparing for retirement,” said John Graves, founder and managing partner of G&H Financial Group in North Canton, Ohio. “As a whole, they have less inflation-adjusted real income, more debt and almost zero possibility of…
Something I’ve noticed after years as a wealth manager helping individuals plan for the future and invest their money is that we get much busier after Labor Day. Summer vacations are over, kids are back in school, and people focus more on their finances. If you’d like to get stuff done, but aren’t sure where to start, this updated wealth management checklist can help guide you through a Fall financial check-up to wrap up important personal finance items by year-end. The checklist has six sections. I’ll highlight four overlooked or impactful priority items below. Work on one a month. By…
For thirty-one years, the Employee Benefit Research Institute (EBRI) and independent research firm Greenwald & Associates have been conducting a Retirement Confidence Survey (RCS) measuring the attitudes toward and preparation for retirement of American workers and retirees. As of January 2020, the RCS found that Americans had near-record-high levels of confidence in having enough money to live comfortably throughout retirement, and these levels held as late as the end of March 2020. Encouragingly, the 31st Retirement Confidence Survey found that confidence in having enough money to live comfortably increased again to record levels for Americans in 2021. It seems…
About 40% of my clients are business owners, or retired business owners. Starting in 2013, I noticed that deal activity was picking up for those owners. Low rates, lots of money in the system, and other factors led to interest in buying good private companies. That activity has increased over time. It’s a seller’s market for business owners, so whether or not you had planned to sell your company you may already have received (or will receive) an unsolicited offer to buy your business. What should you do? Sell! Just kidding. You should listen though since this seller’s market can…
Put your cash to work. To build enough wealth to accomplish your long-term goals, you not only have to make money and save it, you have to allocate that money correctly. Money should go where it belongs.  Cash you don’t need for a long time should be invested aggressively, money you need in the next few years should be in the bank, and then there’s a category in between.  New clients we work with are usually sitting on too much cash. I’m not talking about folks who just sold their business or somehow acquired a lump sum and came to…
Don’t fight the Fed. It’s an investing mantra that should be an investment guideline. Don’t fight the fed means that investors should be bullish on stocks when the Fed has an easy monetary policy and bearish on stocks when the Fed is tightening the money supply through higher rates and other means. You ignore this at your peril, and if you know anyone who has been bearish since the last recovery started in 2009, you’ve probably heard them mutter that if it wasn’t for the damn Fed manipulating interest rates and pumping money into the system all their pessimism would…
During my family’s Hilton Head summer vacation, I read two new books about the Trump presidency’s final year or so. “Frankly, We Did Win this Election” The Inside Story of How Trump Lost by Michael C. Bender and I Alone Can Fix it: Donald J. Trump’s Catastrophic Final Year by Carol Leonnig and Philip Rucker. Some people despise Donald Trump. Some love him. My personal opinion doesn’t matter and isn’t what drove me to read these books. Why I Read Them – 2008 Echoes After the 2008 Great Financial Crisis, I learned a lot about the economy, markets, business, and…