Category: Financial Planning
-
The most basic requirement of business success
What’s the one core thing that every business needs to survive? This is not a trick question. Every business needs a competitive marketable product or service. In other words, a business needs to offer something that other people want to have. This is a simple concept but one that is too often overlooked in small business…
-
We all love a good investment story
The hunger for investment stories will never cease nor be replaced by automation. Yet there remains no conclusive evidence of the value of active investment management. My comment is inspired by the great article at http://www.businessinsider.com/meet-blackrocks-impact-investing-team-2016-6 [contact-form-7 id=”3893″ title=”Boilerplate Contact”]
-
How to copy Trump’s financial success
Comedian Steve Martin did a routine in the late 1970s on “how to be a millionaire”. A million dollars seemed to be a lot more money back then and a worthy goal for many. The January 21, 1978 skit on Saturday Night Live was performed for all of America: “You can be a millionaire and never pay taxes!…
-
Investing in an economic collapse
Billionaire investor George Soros is in the news again for returning to investing word after a long hiatus. He is known for his skill in spotting risk and betting against overpriced markets. His moves are generally seen as predicting a Hillary win, a negative performance of U.S. stocks, and are and significantly gloomier worldwide economic…
-
Why should you pay more tax than Donald Trump?
“Politics aside, the real question here is why do you pay more tax than Donald Trump and what do you plan to do about it?” Donald Trump further agitated critics recently by refusing to reveal his income tax details, instead hinting only that he pays as little as possible. ABC News drew attention to the issue.…
-
Should I self-insure long term care expenses?
Recognize that this is our largest financial risk, the largest unknown, when we reach retirement age. It covers the potential cost of assisted living, home health care or living in a community facility that can be astronomical. My suggestions to help reach a conclusion on this question: You only need to worry about this if you…
-
MetLife retirement plan customers may be due refunds
MetLife Inc. agreed to pay a huge fine and reimbursement of $25 million for making negligent misrepresentations and omissions that mislead tens of thousands of its retirement plan customers. $5 million of that will be used to reimburse customers for excess fees charged by the firm. This is the 2nd largest fine ever levied in the regulation of…
-
Now that you’ve filed your tax return
Now that you’ve filed your tax return, here are three simple tips that can make the next step go smoothly: 1) The IRS does not call you to verify or request information before sending your tax refund. If you receive such a call it is a scam. 2) IRS will begin sending notices to many of…
-
Fiduciary rule should raise awareness of more important issues
I have mixed feelings about the new federal push in retail financial market known as the “fiduciary rule”. Depending on the specific facts, there is a strong argument to be made on either side of the issue. One thing that is certain, however, is that the new rule is intended to increase public awareness of the value of…
-
What is the value of a financial adviser?
One of the surprise lessons of this tax season was learning how many sophisticated and successful clients are paying more than five figures annually for what essentially amount to picking mutual funds. Many of the cases I saw while preparing tax returns were fees paid through Charles Schwab for funds offered in retirement plan accounts…