10 Financial Commandments for Millennials
Budget Allocation: The First Step in Personal Finance Part of Oak Street Advisors’ 10 Financial Commandments for Millennials series, budget building and understanding a general hierarchy of allocating extra income is crucial to getting a head start on retirement planning for millennials. Follow these steps and refer to the Personal Budget Template to begin. Make a budget and stick […]
How a Beneficiary IRA Works
You’ve inherited an IRA- so what happens next? Before we start, we need to understand some key terms: Required Minimum Distribution (RMD): The dollar amount the IRS requires one to distribute from IRAs and defined contribution plans like 401(k)s and 403(b)s. This amount is distributed from your IRA and taxed as normal income unless that […]
Here’s How Trump’s Tariffs Effect You
There’s been a lot of writing about the new Trump Tariffs so I’m not going to delve into any figures, charts, numbers etc. (I started to, but it’s a long way down that rabbit hole). So here’s what you need to know in short form. How this affects US producers of raw materials They win […]
Is your advisor really a fiduciary?
The Department of Labor’s fiduciary rule has died in the courtroom. The Insured Retirement Institute and the Securities Industry and Financial Markets Association along with the Chamber of Commerce brought suit to protect the financial service companies who would prefer not to act as your fiduciary partner. After a three-judge panel ruled the DOL had exceeded […]
What Kind of Life Insurance Do You Need?
Life insurance can be a confusing topic. There are many different flavors and choosing the right coverage for your needs and budget can be difficult. Throw in the fact that life insurance agents goal of collecting a commission check may be at odds with your goal of obtaining the best protection for the lowest price […]
Summer Is Coming
“Sell in May, then Go Away” used to be a common theme in the investment world. This referred to the idea that traders would be occupied during summer months vacationing and enjoying the warm weather and are not as easily available to watch markets and make educated trades. This would in turn reduce liquidity in […]
Of Potholes and Portfolios
Spring is the time of year when all the potholes created by the freeze/thaw cycles of winter become all too obvious. You can damage your car, your tires, and your rims if you are not careful. We all have to slowdown to avoid these cavernous craters on our roadways and we complain to our local […]
The End of a 36-Year Bull Market
The popular press is fond of pointing out how old the bull market for stocks is. After bottoming in 2009 we have seen stocks march upward for for nearly a decade. Many of today’s younger investors, say those in their thirties, have seen the stock market fall, but never felt the pain in their own […]
The Market Correction in Perspective
It has been a long time since we have seen the stock market exhibit this much volatility. Corrections are a normal and healthy part of investing. Corrections weed out the speculators and hot money. For a clearer view of what is happening, we offer a few charts with longer term views.
When Should You Pay Off Your Mortgage?
Carrying mortgage debt can be a contentious subject among financial planners. Some look at the leverage as an opportunity to build net worth. Others see mortgage debt as merely a necessary evil. Often clients believe the mortgage interest deduction is valuable, but with the new income tax rules effective January 1, the deduction is limited […]
