Weatherman
If you live on the east coast, rain is a regular occurrence and the weatherman’s ability to predict the precipitation is infamously fickle. There is a generations long joke about the weatherman getting it wrong. It seems the stock market works much the same way and analysts are just as woefully unable to predict its […]
Warren Buffett’s $1 Million Bet
Warren Buffett is the man. The Oracle of Omaha just seems to make the right move almost all of the time. One of my favorite Buffett moves has been 8 years in the making…so far. About 8 years ago Warren made a $1 million bet with a hedge fund company that a simple S&P Index […]
Warning for IRA Account Owners with Trust Beneficiaries
Using a see-through trust as a tax-deferred Traditional IRA beneficiary has steadily risen among estate planning attorneys. The benefits of using a trust as the IRA beneficiary includes: Avoids the problem of minor beneficiaries managing investments before their age of majority Protects a spend-thrift heir from self-harm upon the inheritance Protects a married child from […]
Waiting for Perfect
How many opportunities are lost as we wait for the perfect time to start? You do know there is no perfect time, or perfect place, or perfect way. You do the best you can with what you have now. Don’t wait for the perfect stock, or the lowest price, or the perfect job, or the […]
Using a Donor Advised Fund to Reduce Taxable Income
WHAT’S A DONOR ADVISED FUND? A donor advised fund (DAF) is a relatively new tool that helps both taxpayers and charities reduce taxes now while providing planned donation strategies to continue in the future. Much like a deductible IRA, assets contributed to these donor accounts produce tax savings based on specific IRS guidelines. For taxpayers […]
UNDERSTANDING DIFFERENT TYPES OF HOMEOWNERS INSURANCE
Different circumstances call for different types of homeowners insurance coverage. There are eight options for homeowners insurance available and you want to ensure you have the appropriate coverage for your individual needs. Having the wrong coverage could leave you with catastrophic liabilities that could endanger your financial security or independence. HOMEOWNERS INSURANCE POLICY OPTIONS: […]
Two Reasons to Never Convert All of Your Traditional or Rollover IRAs to a Roth IRA
Converting funds from a tax-deferred Rollover or Traditional IRA to a tax-free Roth IRA in retirement can be a smart move for managing your total income tax bill. Often, Roth conversions can be accomplished in lower tax brackets, protecting you from possibly higher brackets in the future and minimizing the income tax bite of Required […]
Trade Wars?
With the new administration in place and President Trump threatening to tax imports from countries like Mexico, some have become concerned that we will set off a trade war with the rest of the world. For many reasons, I hope this is wrong and that, like most of the time, the biggest export from Washington, […]
The Wall
This is one of the walls in the reception area of my office. You can see I like to hang lots of little items there. The items were picked with some care, they are meant to convey to clients and prospective clients a sense of who I am and what I believe in. They are […]
The Sting (1973)
Continuing an Oscar week tribute to financial planning lessons from the movies. Doyle Lonnegan: “I put it all on Lucky Dan; half a million dollars to win.” Kid Twist: “To win? I said place! ‘Place hit on Lucky D’ That horse is gonna run second!” Here’s a warning about putting all your eggs in one basket […]
