The Magnificent Seven (1960)
In our continuing salute to the movies and financial planning lessons, this line from the 1960 oater classic “The Magnificent Seven” Calvera: If God didn’t want them sheared, he would not have made them sheep. Be careful out there. The investment world is full of charlatans who promise you something for nothing and usually you […]
The Lake Wobegon Effect
You know Lake Wobegon from NPR and Garrison Kielor. It is the mythical place where “all the women are strong, the men are good looking, and the children are all above average.” Unfortunately, we cannot all be above average. However, if asked we will generally claim that distinction no matter what the subject, and this […]
The Importance of a Roth IRA
Roth IRA accounts have been available since 1997. Unlike a Traditional IRA, Roth IRA contributions are taxed in the year of the contribution but never taxed again if certain requirements are met. If you are a single filer with gross income of up to $52,525 or joint filers with gross income of up to $105,050 […]
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 […]
The Hero or the Goat?
When choosing investments all of us sometime fall into the “halo” effect trap. Apple has been strong so let’s get some of that. Netflix is a big winner I’ll take some of that too. We see recent performance in the financial press and have a FOMO moment. But that is not the way to […]
The First Step to Become a Millionaire
This is a real phone call. Caller: Can you help develop residual income? Make the right investments etc.? Me: Sure, but first you need to develop a plan so we will know what steps to take to reach your long term financial goals. Caller: Well, I wasn’t sure if I have enough money to work […]
The Financial Olympian
As the Summer Olympics in Rio kicked offed this past weekend, it is time again for us to marvel at the prowess of the best athletes in the world. They deserve all the awe we can muster, training that hard for that long- many of them all their lives- to finally compete for their respective countries […]
The Estate Plan For Your IRA
Assets can transfer to your heirs in one of two ways when you die. They can transfer by will, which includes probate court and public filing of related documents, or they can transfer by contract. The advantages of having your assets transfer by contract include: Privacy – The details of a contract are private and […]
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 Dual-Income Household’s Secret Weapon: How to Shelter $75,000+ in a State Employee Spouse’s Retirement Plans
If your household has a high private-sector earner and a South Carolina state employee, you may be sitting on the most powerful tax deferral strategy available to any American family — and 2026’s higher limits make it even better. The Dual Income Set Up Most high-earning families think about tax planning the same way: maximize […]
