Mental Missteps – 3 Questions Worth Re-examining
Several weeks ago we celebrated our son’s birth, and since then we’ve been lucky to get a few hours of uninterrupted sleep each night. I would find myself asking the same questions over and over… the very ones that behavioral economists warn you about when it comes to financial and investing decisions.
The Foundation of Wealth – Savvy Cash Management
Happy New Year! January 23rd, 2012 marks the beginning of the year of the dragon according to the Chinese zodiac; the dragon year is said to bring prosperity and good fortune to everyone. Although good fortune may have something to do with one’s wealth, we believe that a solid foundation built on intelligent, efficient cash management is one of the greatest keys to success for all of us. Since there is no better time to work on your new year’s resolutions than now, we’d like to discuss a few cash management tools that you may want to consider using when refining your household budgets for the new year.
Experience & Youth – The Perfect Combination
Jonathan Burton of The Wall Street Journal recently wrote an article entitled, “Older but Wiser: Middle Age Is a Prime Time for Finance”. In the article he cites scientific research on cognitive function that paints middle age as something of a golden age. He asserts that not only financial judgment, but social skills and general well-being reach a zenith as people cross the half-century mark.
Indexed Annuities: A Free Lunch?
Recently we’ve had a number of clients & acquaintances who were approached by salesmen selling what appeared to be a very appealing annuity product that offered not only the upside potential of the stock market but also guaranteed at least a 1% return in a downturn. This sounds like investment nirvana! Who wouldn’t want that? But as the saying goes, “if it sounds too good to be true, it probably is” and that is certainly the case with indexed annuities. Let’s take a closer look.
Networking for Executives – A Smarter Way?
Is there a way that happy and successful executives network that the rest of us may not know about? Rob Cross and Robert Thomas have researched this question for 15 years and provide some guidance that is contrary to many of the self-help books of today.
The Importance of a Beneficiary Designation for Retirement Accounts
Do you have a retirement account such as an IRA, 401(k), 403(b), or 457 plan? If so, this blog offers you one of the most important yet simple estate planning tips you should know about — and the best part is that it will not cost you a dime to update!
Notice Something Missing from Social Security this Year?
No Benefit Statements – Should You Worry?
About 6 months ago, the Social Security Administration stopped sending paper copies of “Your Social Security Statement”. This familiar green and white form listed your work history and projected benefits – and was typically mailed 3 months before your birthday.
At the time they stopped the mailings, the SSA commissioner said the decision was made to save money, and that people under age 60 will receive statements only upon request. To date, there still seems to be no way to request a paper statement or view it online. Is this something to worry about? Is there a plan to cut benefits to those of us under age 60?
Senior Housing Options in Retirement
As baby boomers reach retirement age, many start to wonder what housing options they may have if their health deteriorates. To ensure that you and your loved ones maintain a good quality of life, it is important to start the conversation early and plan ahead. What follows are a few important points I took away from Stephen Maag’s presentation on “The Landscape of Senior Housing Options” at the 2011 FPA Experience conference. Stephen described the array of housing options for seniors, and suggested services that may be valuable to many families. Read more
“Stay Hungry. Stay Foolish.”
As you know Steve Jobs passed away on October 5th. I have to confess that until about six months ago I really did not know much about Jobs. Yes I knew the basics: that he founded Apple, was then fired by their board and went on to help create Pixar before returning to Apple and transforming it into the innovative, iconic company that it is today. But I really didn’t know anything about his personal story until a friend told me six months ago that I should listen to his 2005 Stanford commencement speech on You Tube. I listened to it and wanted to give you the same opportunity if you haven’t already. I’ve provided you a link to the You Tube video and also a written version of his speech. There is something in Job’s message for all of us regardless of our age. Thank you Steve!
