My clients and other people may think that I spend my work day watching the stock market and making trades. I actually do neither. My […]
There are times I encounter a familiar face and will get asked – “what did the market do today?”or “the market went up (or down), […]
A retirement party should be a positive experience that transitions older employees from their working years to their retirement years. Unfortunately, these parties occur whether […]
Life would be much simpler if you could input information into a retirement calculator and presto you have an answer that will help you make the right financial decisions for the rest of your life. Unfortunately, life is not that simple. Calculators have three major flaws. They are based on broad assumptions that may or may not be true. They do not account for human nature. And, all of the variables that are input into the calculators is subject to change.
Retirement calculators require inputs to produce outcomes that may or may not happen. Step one is determining your current assets in 401K plans, IRAs, and personal savings accounts. Step two is a savings rate. What percentage of your income, 5%, 10%, 15% will go into these accounts? Step three is your biggest assumption. How will your assets perform over the next 10, 20, or 30 years? Is the number 4%, 8%, or 12%? No one really knows so it is important to base growth rates on conservative, achievable assumptions. […]
Approximately 12 years ago the Securities Industry Association, now SIFMA, conducted a survey that showed more than 60% of investors relied on financial advisors who worked […]