Blog

New Money New Problems?

Jerome Greene, MBA, CRPS®

Thursday, December 10, 2020

Coming into a large sum of money can be a life changing moment for many of us. No matter what the source of the money or the circumstance in which you received it, your life has quite possibly changed forever. Here are some of the...

Living the Good Life Permanently

Jerome Greene, MBA, CRPS®

Monday, December 7, 2020

Cumulative Approach Rather than Spartan Approach What does it take to be a millionaire? It really is not difficult to accomplish that financial goal. All it requires is a combination of skill, luck, and discipline. How each of these...

Aspects of your financial life to review as the year draws to a close. The end of the year can help remind us of last-minute things we need to address and the goals we want to accomplish. To that end, here are some aspects of your...

What you should know about the most recent cost-of-living adjustment. On October 13, 2020, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 1.3 percent cost-of-living...

A Dose of Patience. The upcoming election is prompting some people to reconsider their investment strategy. In fact, 45% of consumers with $100,000 or more investable assets expect to make changes to their portfolio due to the upcoming...

What you should know about the change. The Dow Jones Industrial Average (DJIA), one of the most widely followed stock market indices, has made some key changes to its starting lineup. Salesforce.com, Amgen Inc., and Honeywell...

Looking ahead can help you conquer these unique obstacles. When it comes to retirement, some women face obstacles that can make saving for retirement a challenge. Women typically earn less than their male counterparts and often take...

Your investment portfolio may be off-kilter, and you may not even know it. Everyone loves a winner. If an investment is successful, most people naturally want to stick with it. But is that the best approach? It may sound...

It depends on your goals, time horizon, and risk tolerance. "Will I outlive my retirement money?" That's one of the top fears for people who are starting to prepare for their retirement years. So I have to chuckle a bit when I see...

How do these investment approaches differ? Ever heard the term “strategic investing”? How about “tactical investing”? At a glance, you might assume that both these phrases describe a similar investment approach....

Election years cause some anxiety. With all of the storm and stress of the year 2020, you’d be forgiven if you momentarily forgot that we’re due for another national election in November. Many states will be selecting...

This early financial decision could prove helpful over time. Want to give your child or grandchild a great financial start? A Roth IRA might be a choice to consider. There are many reasons why starting a Roth IRA for a teenager may be...

Some good reasons to retain it. Do you need a life insurance policy in retirement? One school of thought says no. The kids are grown, and the need to financially insulate the household against the loss of a breadwinner has passed. If...

Financial results are reported each quarter. Every few months, you may hear the phrase “we’re entering earnings season” as you read financial news. But what exactly is “earnings season” and why is it...

Prepare now to better protect your business in the future. As a business owner, you’ve worked hard for your success. The long hours, the difficult decisions, and the sacrifices you have made have led to where you are today. The...

If you make too much money to open a Roth IRA, you could create one this way. You can sum up the appeal of a Roth IRA in three words: federal tax benefit. Potential earnings in a Roth IRA grow tax free as long as the owner abides by...

Should you withdraw and reinvest your retirement plan money while you are still on the job? Did you know you might be able to take some or all of the money in your 401(k), 403(b), or 457 plan and roll it over into another type of...

What you should know about them. Individuals hold about $2.2 trillion in annuity contracts; a tidy sum considering an estimated $9.2 trillion is held in all types of IRAs.1 Annuity contracts are purchased from an insurance company. In...

You can plan to meet the costs through a variety of methods. How can you cover your child’s future college costs? Saving early (and often) may be key for most families. Here are some college savings vehicles to consider. 529...

A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider...

The SECURE Act and CARES Act may complicate the decision. As a small-business owner, figuring out retirement choices can be a little intimidating. How do you pick the most appropriate retirement plan for your business as well as your...

Confidence can quickly erode, but it can also quickly emerge. Undeniably, spring 2020 has tried the patience of investors. An 11-year bull market ended. Key economic indicators went haywire. Household confidence was shaken. The...

Is it right for you? The COVID-19 pandemic has shaken up nearly every aspect of American life. To say it’s been a difficult time would be an understatement. However, difficult times may open doors to new possibilities. Businesses...

A look at the maximum amounts you can put into retirement accounts this year. The I.R.S. just announced the annual contribution limits on IRAs, 401(k)s, and other widely used retirement plan accounts for 2020. Here’s a quick look...

Here is what you need to know. Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines. April 1, 2020 is the deadline to take your Required Minimum Distribution (RMD)...

Most people just invest for the future. You have a chance to do more. Across the country, people are saving for that “someday” called retirement. Someday, their careers will end. Someday, they may live off their savings or...

What steps might help you sustain and grow your retirement savings? “What is your greatest retirement fear?” If you ask any group of retirees and pre-retirees this question, “outliving my money” will likely be...

Helpful tips for tax time. Being a small-business owner isn’t easy. After all, balancing payroll, managing employees, drawing up marketing plans, and handling the bookkeeping can be stressful! Luckily, the Internal Revenue...

Here are some things you might consider before saying goodbye to 2019. What has changed for you in 2019? Did you start a new job or leave a job behind? Did you retire? Did you start a family? If notable changes occurred in your...

A look at how variable rates of return do (and do not) impact investors over time. What exactly is the “sequence of returns”? The phrase describes the yearly variation in an investment portfolio’s rate of return....

"Rule No.1: Never lose money. Rule No.2: Never forget rule No.1." – Warren Buffett1 Risk is a factor in any investment decision that you make. Your tolerance for risk is something that you will want to consider when you make...

Things you can do for your future as the year unfolds. What financial, business, or life priorities do you need to address for the coming year? Now is a good time to think about the investing, saving, or budgeting methods you could...

What you need to know. When you reach age 70½, the Internal Revenue Service instructs you to start making withdrawals from your traditional IRA(s). These withdrawals are also called Required Minimum Distributions (RMDs). You...

Global mutual funds vs. international mutual funds. For investors who are looking to diversify their portfolio with exposure to companies located outside the U.S., there exist two basic choices: a global mutual fund or an international...

Three different approaches. The majority of stock market analysis can be lumped into three broad groups: fundamental, technical, and sentimental. Here’s a closer look at each. Fundamental Analysis. The goal of fundamental...

More professional practices (and practice groups) should look into them. In corporate America, pension plans are fading away. Only 16% of Fortune 500 companies offered them to full-time employees in 2018, according to Willis Towers...

Some things to consider. During your accumulation years, you may have categorized your risk as “conservative,” “moderate,” or “aggressive,” and that guided how your portfolio was built. Maybe you...

A good professional provides important guidance and insight through the years. What kind of role can a financial professional play for an investor? The answer: a very important one. While the value of such a relationship is hard to...

Some specifics about the “second act.” Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. Up to 85% of a retiree’s...

Thinking about your mortgage. Buying a home is the single largest financial commitment most people ever make. And sorting through mortgages involves a lot of critical choices. One of these is choosing between a fixed- or...

The hows and whys of college savings. The American family with a child born today can expect to spend about $233,610 to raise that child to the age of 18. And if you’ve already traded that supercharged convertible dream for a...

Too many wealthy households commit these common blunders. Many people plan their estates diligently, with input from legal, tax, and financial professionals. Others plan earnestly but make mistakes that can potentially affect both the...

Express your wishes. Actor Lee Marvin once said, “As soon as people see my face on a movie screen, they [know] two things: first, I’m not going to get the girl, and second, I’ll get a cheap funeral before the picture...

Avoid these situations, if you can. Pursuing your retirement dreams is challenging enough without making some common, and very avoidable, mistakes. Here are eight big mistakes to steer clear of, if possible. No Strategy. Yes, the...

If passed, it would change some long-established retirement account rules. If you follow national news, you may have heard of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Although the SECURE Act has yet to...

Now is a good time to think about a few financial matters. Consider making tax moves earlier rather than later. If you own a business, earn significant investment income, are recently married or divorced, or have a Flexible Savings...

Three important factors when it comes to your financial life. Regardless of how the markets may perform, consider making the following part of your investment philosophy: Diversification. The saying “don’t put all your...

What are they? Why are they important? A self-fulfilling policy. An investment policy statement (IPS) is a document which helps the client and advisor stay “on the same page” by clearly stating the expectations and...

What is it? How might it affect retirement strategy? If you follow national news, you may have heard of the Setting Every Community Up for Retirement Enhancement (SECURE) Act. Although the SECURE Act has yet to clear the Senate, it...

How can you make things easier on them later in life? Worldwide, the number of people aged 60 and older is growing. By 2050, this demographic will be more than twice as large as it was in 2015.¹ Some of these seniors could face a...

The right moves for every age. Have you ever mapped out your financial timeline? If you’re like many Americans, it may have been more difficult than anticipated. One of the most helpful ways to achieve your financial goals is to...

What is your exit strategy? Your company is ripe for sale. Now what? These days, your children or employees may not necessarily want to take over your business, but you still want to sell your business. So, what’s a successful...

Step One: Find a trusted financial coach; Step Two: Listen to your coach. Whether you are a professional athlete, a college amateur, or an aspiring Olympian, you probably know what success feels like. You also know a thing or two about...

Don't let procrastination keep you from pursuing your financial goals. Some of us share a common experience. You’re driving along when a police cruiser pulls up behind you with its lights flashing. You pull over, the officer...

Affluent investors face unique challenges when putting together an investment strategy. High net worth investors face investment challenges that some would consider unique to their financial status. The fundamental tenets of investing...

Delegating responsibilities to others may lead to problems down the road. When you are putting together a household, it isn’t unusual to delegate responsibilities. One spouse or partner may take on the laundry, while another...

When was the last time you looked at the content of your portfolio? From time to time, it is a good idea to review how your portfolio assets are allocated – how they are divided among asset classes. At the inception of your...

A look at where stocks were in 2009 and how they have performed since. Where were you on March 9, 2009? Do you remember the headwinds hitting Wall Street then? When the closing bell rang at the New York Stock Exchange that Monday...

Even the most seasoned investors are prone to their influence. Investors are routinely warned about allowing their emotions to influence their decisions. They are less routinely cautioned about letting their preconceptions and biases...

Examining the potential differences between assumption and reality. Financially speaking, retirement might differ from your expectations. Just as few weathercasters can accurately predict a month’s worth of temperatures and...

What can you do to allay this risk? Knowledgeable investors are aware that investing in the capital markets presents any number of risks – interest-rate risk, company risk, and market risk. Risk is an inseparable companion to the...

What steps might help you sustain and grow your retirement savings? “What is your greatest retirement fear?” If you ask any group of retirees and pre-retirees this question, “outliving my money” will likely be...

If you are between 40 & 60, beware of these financial blunders & assumptions. Mistakes happen, even for people who have some life experience under their belt. That said, your retirement strategy is one area of life where you want to...

Have You Budgeted for Retirement? Creating a strategy for success. Run the numbers. There is a rule of thumb for retirees suggesting that retirement income has a target of 70-80% of the household’s end salary, though this can...

Steps toward saving more & revitalizing your retirement strategy. When it comes to retirement saving, many women lag behind many men. Historically, that has been the case. A recent study by Student Loan Hero offers more evidence of the...

Like a chess grandmaster, it’s worth thinking a few moves ahead. Thinking about retirement might seem unpleasant. As you budget your monthly bills, you might feel as if you simply don’t have enough to handle both your...

When you reach age 70½, they can be a new way of giving. As the owner of a traditional IRA, you are likely aware that you are obligated to make required minimum distributions (RMDs) once you reach age 70½. However, you...

Three common misconceptions to think about. 1 – Assuming retirement will last 10-15 years. When Social Security was created in the 1930s, the average American could anticipate living to age 58 as a man or 62 as a woman. By 2014,...

There are those who favor value and those who favor growth. You might be initially confused by these terms or even suspect they aren’t that different in terms of what each model offers you as an investor, but they are very...

A look at some ways to get ready. Are Americans saving enough? Only 19% of U.S. adults describe themselves as “very confident” when asked about their savings. Worry spots include retiring without enough money saved (16%)...

Behaviors worth changing. Do bad money habits constrain your financial progress? Many people fall into the same financial behavior patterns, year after year. If you sometimes succumb to these financial tendencies, now is as good a time...

Facts about the federal Old-Age, Survivors, and Disability Insurance (OASDI) program. Social Security has been a pillar of retirement life for several decades, but how much do you really know about it? Here are some facts that might...

How do these investment approaches differ? Ever heard the term “strategic investing”? How about “tactical investing”? At a glance, you might assume that both these phrases describe the same investment approach....

If you are one of the many Americans who are in a second marriage, you may need to revisit your estate strategy.¹ Unlike a typical first marriage, second marriages often require special consideration that should address children...