Authored Articles
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February 08, 2023
One premise I tell my clients up front is, "Don't believe anyone who tells you they are totally objective. Everyone has biases. The important thing is to understand what biases exist with each professional, and then determine if they are acceptable." My best qualification for writing this article is that I've been compensated every way you can be as a financial planner: commission-only, fee-only, and fee-based (fees and commissions). Clearly these 10 things don't apply to every advisor, but hopefully they'll provide some insights to help you know what to watch for.
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Are you investing for absolute returns or relative returns? And, do you need to change your thinking on this?
To begin with, you need to understand what the two terms mean: (From my book, The One Thing)
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Economic uncertainty is always present, but today’s level of economic uncertainty is unlike anything most of us have experienced. Decades-long government deficit-spending policies, combined with actions aimed at diffusing the 2008 financial crisis, have created an investing climate that calls for fresh thinking about how to minimize risk without giving up the opportunity for attractive returns.
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May 28, 2019
Are you the type of person that makes plans or do things just happen to you? Life is hectic. There are issues at work, relationships with our spouses and children, bills to pay, vacations, and weekly activities. There are times that we have a little peace and quiet. It might be when you’re driving in our car to work or taking a stroll on the beach during a vacation. In those moments you may briefly think about life 10, 20, or 30 years down the road. What will it look like? Will I be prepared? Making a financial plan can be the difference between success or an uncomfortable surprise.
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May 28, 2019
How do you handle adversity?
“Everyone has a plan ‘til they get punched in the mouth.” Mike Tyson
Depending upon your age, you might recall the Mike Tyson in his early years of heavy weight fight. Knock outs were the norm. Mike didn’t hesitate. From the opening bell he was across the ring throwing violent punches at his opponent.
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May 28, 2019
First and foremost I want to relieve any guilt parents may be feeling by verifying for you that there is nothing in the Bible or the United States Constitution that says you have to pay for your child’s college tuition. In planning with clients, it sometimes feels like they are putting paying for college ahead of their own retirement. My wife and I are empty -nesters with 3 college graduates. From my experience of saving, incentivizing and spending on college, I don’t think there is much I would change. So here are my top 10 suggestions.
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I pride myself on being objective as possible in writing these articles. That’s why the topic of the Focus article may seem a little self-serving. I have found so much being written in newspapers, magazines, and articles, that I decided to compile the best of each.