Archive - 2019

1
The Equity-Indexed Annuity
2
Do You Have Investing FOMO?
3
Financial Planning for the Young and Non-Affluent
4
Are Resolutions Worth It?
5
The 457(b) Special Catch-Up

The Equity-Indexed Annuity

If you’re anywhere near retirement age, or if you’re in retirement, chances are you’ve had an Equity-Indexed Annuity (EIA) pitched to you.

Now, if for some reason you’ve missed out on these pitches (Maybe you’ve been out the country? Don’t have a phone? Don’t read your mail?) here’s the gist:  Insurance salesman tells you about this wonderful product that allows you to participate in the stock market’s upside, while not experiencing any of the market downside.  In today’s stock market climate, sounds pretty good, huh?

A couple of things come into play that the salesguy doesn’t highlight for you:

First,

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Do You Have Investing FOMO?

You get it: you need to invest wisely in order to grow your wealth.

You understand the importance of getting your money into the market, and you’ve been diligently contributing to retirement accounts and maybe even a brokerage account for years now.

But you can’t help but wonder… are you investing in the best possible way? Are you potentially missing out on a better investment someone else is using that you don’t know about?

It’s reasonable to feel this fear of missing out on something great — or having a little investing FOMO. It’s when you act on this fear that

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Financial Planning for the Young and Non-Affluent

James B. Cloonan is the founder and chairman of the American Associate of Indivdiual Investors (AAII). Last year he wrote an article for the AAII Journal in which he reflected on the financial services industry and his career in running a financial education non-profit as he approached retirement. At the end of the article he mentioned some of his regrets, writing:

I wish AAII could reach a wider range of investors. We are serving mostly fairly affluent investors who already have a basic or advanced knowledge of investing. Even though our membership fees are low and we have tried programs

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Are Resolutions Worth It?

After the first of the years it’s common of individuals to aspire
to change their lives for the better. Many individuals come up with New Year’s resolutions – with aspirations of accomplishing certain goals or tasks that have eluded them in the past.

But do resolutions really work? In other words, what good is
a resolution without action?

Granted, I am being nitpicky. But think of it this way. If I
were to write down a handful of resolutions that I wanted to achieve in 2019 and beyond – they would simply be words on paper.

Don’t get me wrong, …

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The 457(b) Special Catch-Up

If you’re a governmental employee, you may be aware that
your employer offers a 457(b) retirement plan. Additionally, you likely know that like a 401(k), the 457(b) allows you to contribute $19,000 annually to the plan with an additional $6,000 catch-up for those aged 50 or older.

What you may not be aware of is the special catch-up
provision the 457(b) offers. This special catch-up provision allows a governmental employee that is within 3 years of the normal retirement age (as dictated in the plan) to contribute up to twice the annual amount ($38,000 for
2019).

To take advantage of …

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