As I’ve been reflecting the past few days, I wanted to share two of my team’s personal experiences as we navigate these unchartered waters. Lesson of Gratefulness AND Sensitivity: I was sitting with a small group of people. One person shared her frustration with her children. She was suddenly forced to homeschool and it had…
DetailsI hope you and you’re family are doing well during this challenging time! I’ve included a short video update below. #2ndHalfWealth
DetailsFirst, I want to share the good news – no more quarantine! As some of you may have heard, I had a bit of a cold at the beginning of the week. I have made a full recovery. Thank you for all your prayers and well wishes. It never progressed to more than a cough…
DetailsHistory in the Making – Coronavirus and Circuit Breakers Last week I was in Atlanta for a 3-day conference. I flew out of Colorado Springs and noticed three or four facemasks on the plane. There was not an empty seat on the plane. In the Atlanta airport, there were a few more masks but it…
DetailsThe Wall Street Journal has done a very thorough job of estimating taxes under each of the Democratic candidates for president. The takeaway is clearly that there’s a possibility that the Democrats may once again control the presidency and one or both houses of congress. When that happens the current plans on the table (representative…
DetailsIt’s a leap year! That means we have twenty-nine days to enjoy in February instead of the usual twenty-eight. But the question is, what should we do with the extra day? Most people will probably treat the 29th like any other day. But as a financial advisor, I have a suggestion. Why not use the…
DetailsYour retirement plans and accounts may remain under threat as our government requires more and more revenue. I am just going to list a few of the threats. I suggest you read the article so you can learn the details, why changes are being considered, and what the implications will be. We have developed strategies…
DetailsWe are well aware of the last two day’s market action. It’s painful to say the least. I’m sharing two resources as an update. The first, from a well-known, distinguished economist, Brian S. Wesbury. In part he says (read his full report here), “From a macro-economic point of view, the real question is how will…
DetailsMore Than Half of Americans Have Avoided Medical Care Due to Cost Healthcare planning is increasing as a concern for overall financial planning for ALL Americans, not just those over age 65. Many Americans are even avoiding getting treatment because there’s uncertainty over their out of pocket healthcare costs. I’ve seen this more than once…
DetailsA new year means new tax changes. With the recent SECURE Act, and the Tax Cuts and Jobs Act back in 2017, there are many updates to the tax code that could affect how much money you keep and how much goes to Uncle Sam. I’ve included some of the most significant tax-related changes for…
DetailsUpper Middle Class, Middle Class Will Feel It The Most It continues to look highly likely that EVERYONE will see higher taxes in the future. Even though politicians say they won’t increase taxes on the middle class and the poor, it is mathematically impossible not to. In my opinion proper financial planning will absolutely be…
DetailsTo some people, the practice of exchanging valentines is great for children in elementary school, but it’s hardly something for adults. Right? Well, one of the toughest, most resilient men you’ll ever meet doesn’t think that valentines are silly. And he should know – after all, he just received over 20,000 of them.1 The Oldest…
DetailsSocial Security has been low and reports show it will continue to be and will remain low. According to the article below, the Social Security cost of living adjustment has averaged 1.4 percent for the last 10 years. That is certainly less than inflation. Social Security’s purchasing power has decreased by thirty-three percent since 2000;…
DetailsHere is a list of reasons this article explains why 401(k)s are not good retirement choices going forward. I will list them, and the article will give you an explanation for each reason. Every distribution you take will be taxed at your highest rate. Double taxation is often the norm. Mandatory withdrawals required at age…
DetailsYou’ve heard about the Coronavirus outbreak in the Chinese city of Wuhan. As I finish this Wednesday afternoon update, there have been over 6,000 confirmed cases, with more than 130 deaths.1 Most cases have been within China itself, but the virus has spread to a small number of individuals in over fifteen countries. As you…
DetailsStates, who cannot print money, are requiring more and more revenue as they fall further behind in retiree pension and health care requirements. It is highly likely that state and local taxes will have to be raised even further. I would like you to visit www.truthinaccounting.org. Some states only have 10 percent of the money…
DetailsThis is a little-known rule that is available to participants of 401k’s and 403b’s. The rule says you can withdraw money from these accounts when you terminate employment at age 55 without paying a penalty. You still must pay the income tax on the money, but there is no penalty. The rule goes into effect…
DetailsThis is a spectacular article written by the actor Rob Lowe, where he – in wonderful detail – describes the amazing emotional, physical and financial stress ALL nonprofessional caregivers must endure. He offers great advice and reassurance. Many of us will find ourselves in this position if we don’t prepare. See more in the Newsweek’s…
DetailsThe father of the 401k, Ted Benna, who created a vehicle that now holds more than $5 TRILLION dollars of Americans’ retirement money believes we should wipe away the whole thing. He believes in 401k’s. He doesn’t believe in the structure which is intended to create fees for companies who administer these plans. He also…
DetailsHope you’ve had a great holiday and are anticipating the new year! With some recent changes there’s more for us to maneuver around. This will be a busy year. The biggest change is the new SECURE Act. There are many provisions. Here are the most important that may affect you. As you read below green…
DetailsWhat to Pay Attention to Now Here are the top recommended Financial Calendar items with Key Dates to pay attention to for tax and financial planning. January Increase Your Retirement Savings The amount you can contribute to your Roth or Traditional IRA is $6000 for 2020 ($7000 if you’re 50 or older). 401(k) and 403(b)…
DetailsDo You Know Why? Although there are holidays and other memorable days in December; there’s one date that, while far less known, deserves at least a little remembrance. I’m referring to Bill of Rights Day. Never heard of it? That’s okay—many people haven’t. But it’s an important date nonetheless, because it’s the day we commemorate…
DetailsChristmas Eve, 1906. It was a cold winter’s night. Countless ships bobbed up and down on the icy sea, crewed by weary sailors stationed far away from their families. As their heads nodded and their tired eyelids drooped, it probably wasn’t sugarplum fairies that danced in their heads, but visions of home, hearth, and a…
DetailsRecently, I asked various people I know the following question: What were you thankful for when you were five years old? Here are a few of the responses I got. “That my mom would read to me every night and comfort me when other kids were mean.” “I was thankful for my Nintendo and my…
DetailsIn 1945, there were sixteen million of them. Today, there are less than 500,000 left. They endured the hardships of the Depression. They watched firsthand as radio, talking pictures, and television changed how we live. They witnessed the dawn of the Space Age. And, of course, they fought to free the world from the evil…
DetailsThe Importance of Asking Questions You’re driving on one of those remote, dusty highways where it seems like there are more buzzards than other cars. It’s been hours since the last town of any size, which is concerning because according to your carefully laid plans, you should have reached your destination by now. There’s no…
DetailsEarlier this year, the House of Representatives passed a new bill called the Setting Every Community Up for Retirement Enhancement Act, aka the SECURE Act. (Acronyms are always a thing in Congress.) As the name implies, the bill has important ramifications for people’s retirement savings. I’ll tell you What I Like and What I Don’t.…
DetailsEver heard the saying, “No man is an island”? It means no one is so self-sufficient that they don’t benefit from the help and comfort of others. It also means that no one is so isolated that their actions affect only them. The decisions we make – including those related to our financial goals –…
DetailsEvery year millions of Medicare beneficiaries are confused about what they should do during the fall annual election period (AEP). You will see the onslaught of television ads and mail in your mailbox, but I know it’s confusing whether the election period applies to you or if you need to take any action. The AEP…
DetailsWhose Idea Was Retirement? According to Dr. William Osler, a prominent physician at John’s Hopkins University, “men over 60 were completely useless to society because of their inelastic minds.”(1) Dr. Osler made his proclamation in 1905 … before AARP! So, just whose idea was retirement anyway? In pre-industrial America, retirement did not exist. Ancient…
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