Financial Advisor / Wealth Management

The year is 2020. A global pandemic has swept the nation and a highly controversial presidential election looms on the horizon. The market fell significantly in Q2 and has been highly volatile ever since. So, why could now be the right year to take advantage of a Roth IRA conversion?   Essentially, three conditions unique to this year could make a conversion more appealing: the waiver of Required Minimum Distributions under the CARES Act, the volatility in the stock market, and the possibility that you may have earned less income this year than in year’s past. Of course, there are a…
In this interview conducted by Russell Benaroya, Partner at Stride, titled ‘The Strategic Value of a 401(k) with Pete Ravani, Advisor, CBIZ’, Pete spends time with us chatting about the strategic value of a 401(k) for business owners. We discuss the rules of managing a 401(k) and the benefits to recruitment, retention, and long term wealth creation. The retirement plan industry is pretty opaque and Pete does a nice job helping business owners understand both the opportunities and risks. Here is the link to the interview: https://stride.services/stride-freedom-speaker-series-landing-page/#str
Stuff worth sharing from the past week Latest original posts: Don’t Ignore International Stocks – Investors are subject to recency bias – loving what has done best recently and hating underperformers. This is something to avoid. A timely example is international stocks, which deserve a place in your portfolio. Top Investment Advisor Recognition – This month Heritage Financial was included in Forbes and Financial Advisor magazine’s national top registered investment advisor rankings. _____________________________ We Expect Fed Rates to Remain at Zero For Years https://t.co/ESsNh3E2aY — John Waggoner (@JohnWaggoner) September 1, 2020 Here’s what the Fed expected rate policy might mean…
This month Heritage Financial was included in Forbes and Financial Advisor magazine’s national top registered investment advisor rankings. Financial Advisor’s list is based on firm size, while Forbes uses a mix of qualitative and quantitative criteria, including “factors like revenue trends, assets under management, compliance records, industry experience and those that encompass best practices in their practices and approach to working with clients.” At Heritage we like to say that Every Detail Matters, and we strive to make a lasting financial impact on the people in our lives and those we serve. 2020 has been a challenging year for many, and I’m…
One of the blog’s key themes is that you can get rich through disciplined investing in stocks and learning how to avoid the infinite short-term traps that keep us from realizing our fair share of market returns. Owning stocks is theoretically the easiest way to build wealth – buy a diversified portfolio of ETF’s or mutual funds, turn off CNBC, don’t check your balances, and add money to your portfolio whenever you have extra long-term cash. If only. Because markets are volatile, money matters are emotional, and we’re not hardwired to handle financial stress, sticking to the basics becomes difficult.…
Stuff worth sharing from the past week ICYMI: Using Debt Smartly to Build Wealth – When building your wealth it can be a mistake to not take advantage of all of the resources available to you, including debt, even though borrowing presents risks. The key is having a plan and doing it smartly. _____________________________ The dollar has weakened against other currencies which has real investment implications you should understand. What a Weak Dollar Means for Your Portfolio by Christine Benz and Susan Dziubinsk _____________________________ Are U.S. stocks outperforming? That depends on how you measure it. On a market cap basis,…
This post about using debt effectively is excerpted from my personal finance book, Beyond the Basics: Maximizing, Allocating and Protecting Your Capital (available here), which provides an overall capital allocation framework to build wealth. Debt is an important tool for any capital allocator. It’s also a complicated one. Debt means borrowing money and paying interest. For some, that’s not an issue, while others have an emotional or even a spiritual aversion to it. Emotions complicate investing. Debt can enhance returns, which we’ll get to shortly, but it comes with greater risk, as it can multiply your losses and wipe…
Stuff worth sharing from the past week ICYMI: An Investing Legend’s Latest Insight – Investing legend Howard Marks has been thinking about the things we want answers to – COVID-19, shape of the economic recovery, investment outlook, and the economy. _____________________________ I’ve never seen anything so clearly illustrate how S&P 500 performance has been driven by FAANG stocks. pic.twitter.com/9qqn1bQvL9 — Peter Mallouk (@PeterMallouk) August 14, 2020 _____________________________ Two articles explaining that we are in a new bull market and that the worst of the economic decline may be behind us and where we could go from here. Here’s a list
Howard Marks, co-founder and co-chairman of Oaktree Capital Management, a large distressed capital investing firm, is out with his latest memo, Time for Thinking. Regular readers know how much I respect his works, which I have shared before in my Wednesday Reading Lists (here and here). This piece deserves more attention. Marks has been thinking about a few things worth sharing: The Health Crisis Shape of Economic Recovery Investment Outlook Why the Reported GDP Decline is Wrong and Meaningless Health Crisis The global economy was shut down to social distance and avoid the large loss of…
It’s pretty simple: having financial resources translates into freedom—the freedom to travel, live where we want, help others, send our kids to the best schools, and decide when, how, or if we want to work. Wealth grants us the freedom to enlist the help of others when time or energy is limited, help those we love when they are in need, or contribute to the community at large in generous and impactful ways. Fundamentally, wealth grants us options and choices to live a fulfilled life.  Even though it may feel overwhelming at first, accumulating wealth doesn’t have to be hard…