Is your advisor held to a fiduciary standard, or a suitability standard? Do you know the difference, and what it can mean to your investments?
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This post was inspired by a recent conversation I had with a former student. As is customary in my classes, I encourage students to contact me if they have questions while in the “real world” after graduation. The student was contemplating contributing the maximum to a Roth IRA for 2018 – which is $5,500, and then potentially doing the same for 2019 – which would be $6,000. His concern was market volatility. He was afraid of contributing to the IRA, then seeing is lump sums of $5,500 and $6,000 respectively plummeting if the market were to drop substantially. I told him to look at it from this perspective. The middle letter in the acronym IRA stands for retirement. This young man is 22 years old, planning to retire in 30 to 40 years. I told him that he could consider contributing the maximum to his Roth IRA every year, regardless […]
The post Focus On The Future appeared first on Getting Your Financial Ducks In A Row.
The 401k plan takes the blame much of the time for the problems individual investors are facing. But maybe adjusting the 401k plan is the real
The post Problems and (proposed) Solutions for 401k Plan appeared first on Getting Your Financial Ducks In A Row.
You may think that your most important asset is your home, your nest egg, your priceless collection of Etruscan snoods. Your most important asset is you – your human capital. Your human capital is your current and future economic contributions to your family. Perhaps you’ve gone to college and majored in a profession to pursue a career. You may have earned advanced degrees and designations to increase your knowledge, professionalism, and income. All of this increases your human capital – your ability to earn, substantially, over your lifetime. Now that you have a family, a spouse and kids to support, you need to hedge your human capital, you need to protect it in the event it’s lost – should you die unexpectedly. No one likes talking about death. Even writing these words, it’s hard to type them. But it’s necessary to convey the importance of life insurance. Life insurance protects […]
The post Life Insurance: Protect Your Most Important Asset appeared first on Getting Your Financial Ducks In A Row.
Any time there’s a down market going on, you’re more likely to get a sales pitch for an equity-indexed annuity. There can be upsides, but mostly downsides.
The post The Equity-Indexed Annuity appeared first on Getting Your Financial Ducks In A Row.
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