The 6th Financial Commandment for Millennials: When it’s (Not) Smart to Max Out Your Retirement Plan
Whether you’re enrolled in an employer retirement plan like a 401k, are self-employed and can utilize a SEP or Solo 401k, or are forced to brave it alone and contribute to a personal IRA – and you’ve completed the previous Financial Commandments for Millennials it’s time to start making the maximum contributions to these plans. First things […]
2018 Review/2019 Preview
Volatility Wow! 2018 went out with a huge rise in volatility as stocks swung from a small gain for the year to nearly reaching bear market territory, before rebounding yet again to end the year down 4.38% as measured by the S&P 500 index For 2019, you should expect volatility to remain high. Markets will continue […]
The 5th Financial Commandment for Millennials: Implementing the Right Asset Al
Asset Allocation & Risk Tolerance Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, understanding risk tolerance, asset allocation, and their relationship, is the foundation of modern portfolio theory. Implementing the proper asset allocation to minimize risk, while still achieving your long-term goals, is crucial to your success and peace of mind. Asset allocation means: […]
The 10 Financial Commandments for Millennials 4th Commandment: Establishing an Emergency Fund
The Emergency Fund: Why, How Much, & Where Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, determining the correct amount, picking a high-yield account, and saving for an Emergency Fund is critical in establishing a solid financial foundation for millennial investors. Before you start investing, you still need to complete one other, vital, […]
How to Start Your Estate Plan
Mistakenly, many believe that they do not have enough assets to worry about estate planning. With today’s $5.6 million exclusion per individual and simplified portability that raises a couple’s exclusion to $11.2 million, estate taxes may not be an overbearing concern. But there are many estate planning steps everyone with heirs and assets should take. […]
What Now For the Markets – November 2018
Scary Movie Part 2 Just in time for Halloween the stock market has pulled back from its all-time highs and volatility has returned in the form of daily changes of more than 1%. After being up nearly 10% this year, the market- as measured by the S&P 500 index, is flat to slightly down as […]
Getting the Right Amount of Insurance – The 3rd Financial Commandment for Millennials
Insurance Coverage: Basic Concepts Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, basic insurance knowledge will help you get the coverage you need and help clarify some misconceptions. Health Employer group health insurance plans are the most common option for young investors. Often, you don’t have much say in the plan, but the pricing […]
The Importance of a Debt Free retirement
I have heard debt defined as work you have yet to do. Thinking of debt in this way highlights the need to be debt free in retirement. If retirement is to be a time when you no longer exchange labor for a paycheck, then you do not want ‘work you haven’t done yet’ to be […]
Getting Out of Credit Card Debt – The 2nd Financial Commandment for Millennials
Get Out of Credit Card Debt: Stop Giving Away Your Money Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, getting out of credit card debt is a crucial component for younger investors to get ahead. Interest payments can absolutely destroy your personal finances while often draining a debtors’ mental well-being as well. When used […]
What Happens if the Market Tanks the Day After You Retire?
Imagine its October of 2007. You have spent the last 30-plus years of your life working and saving for this day, the day you retire. You have watched the S&P 500 Index rise steadily over the past five years, climbing from 837.37 to 1561.80, gaining over 12% a year on average. You have watched your […]
