Given the current economic environment where companies are laying off workers and, in some cases, going out of the business, the implications for employer-sponsored retirement plans are significant. Unfortunately, one of the consequences of the pandemic and the economic shutdown is that many companies are laying off workers and, in some cases, shutting down completely.…
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At my core, I am a financial planner. Some may call me a money manager, or an investment advisor or a wealth manager….all terms that could apply, depending on your definition. But, I see myself as a financial planner. When I meet with someone for the first time, more times than not, they are looking…
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Over the last several weeks, the coronavirus has grabbed global headlines. So far, U.S. markets have remained relatively immune. But should you try to dodge markets that have been exposed? The answer to that question is simple: breaking news should not impact your investment program. A portfolio that is invested according to an evidence-based investment…
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In most aspects of our lives, taking action serves us well. We are conditioned from a young age to believe that if we want to succeed at any endeavor – climbing the corporate ladder, excelling at a sport, being a great parent, getting good grades – we must work hard, make tough choices, and put…
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An integral component of a financial plan is making sure that you have adequate cash reserves set aside. But exactly how much is enough? Cash in the bank has several purposes: (1) to fund living expenses; (2) to fund short-term planned expenses (upcoming trips, home improvements, new car, etc.); and (3) to fund unanticipated expenses.…
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When looking for a place to stash your emergency reserves, a visit to bankrate.com is probably your best bet. The popular site provides an up to date list of the banks that are currently paying the highest rates on fully liquid, FDIC insured savings accounts, making it easier than ever for savers to find the…
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We all know that risk and return go hand-in-hand. As investors, we are encouraged to think about how much risk we can/want to assume and then build a portfolio that reflects our risk tolerance and objectives. But, investment risk is not a straightforward concept. There are two, broadly different kinds of investment risks: avoidable, concentrated…
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Stock prices change as new information becomes available. It’s not surprising that many investors believe that it is crucial to follow financial news carefully and then act quickly on news that might be relevant to their investments. While this may sound like a good idea, the reality is that you cannot expect to consistently improve…
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Doctors write prescriptions. Auto mechanics perform tune-ups. Lawyers prepare briefs. Financial advisors help you manage your money. Ultimately, it’s that simple. But like any other profession, we sometimes have a funny way of saying it. Following are a few of the most common terms related to money management. Assets Your assets sustain your financial being…
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As a financial planner, I am always intrigued by the behaviors regarding money that I routinely witness during this time of the year. As soon as the Thanksgiving dinner is cleared from the table (sometimes even before), conversations center around the holidays – the perfect gift for your spouse, tokens to remember colleagues and teachers, the…
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