Month: June 2014
-
Renewable energy report shows progress but overall weak prospects for U.S.
Despite the rosy captions in the “Renewables 2014 Global Status Report” the actual data about renewable energy in the U.S. is quite bleak. It was easy for me to conclude from this report that the U.S. is actually headed toward a nuclear energy future. This is not because nuclear is so superior to renewables but rather that…
-
Busy week for financial planning news
It has been a busy week for financial planners who are trying to keep clients up to date with news affecting their wallets. Here are just four issues that are in the news: 1) A new US Supreme Court ruling calls into question the protections offered to IRAs and traditional planning for these assets. IRA…
-
communication with my homeowner’s insurance agent
A form letter received from my homeowner’s insurance agent prompted tis blog post: Tony Novak: As your Allstate agent, I’m concerned… I’ve just learned that you were sent a notice of Cancellation for Nonpayment of Premium of your Allstate policy… Dear Agent: I’m glad that you are concerned. So am I. I noticed that the…
-
Tax break for small home based businesses
The AICPA points out that people in modest homes with small home based businesses will benefit from using the brand new Simplified Home Office Deduction allowed by IRS for 2013. The deduction is capped at $1500 ($5 per square foot for a 300 square foot working space). But if you have a bigger, more valuable…
-
An Overview of Financial Planning Checklists
I’ve spent some time this past week investigating the topic of financial planning checklists. These are my rough notes: 1) I completely agree with Michael Kitces’ 2013 article on the topic where he notes that checklists should be – but are not yet – implemented as the workhorse of professional practice standards in the financial planning…
-
Whole life insurance revisited
One of the most maddening topics for me as an adviser has been whole life insurance for working class clients. It is clear that whole life insurance is the #1 financial vehicle of choice for the “top 5 percenters” in the wealth scale, often through the corporate entities that they control, but what about the…