I think that personal financial planning is Ground Zero for FOMO (fear of missing out) for those of us over a certain age. Those of us who need FOMO spelled out. 😊 Everyone’s worries are valid, but many times they are overblown or don’t even apply. But some things we worry about are going to…
You’ve made it this far in the RMD Series. And you’re tired of my telling you to just not worry about RMDs. That’s fair. There are legitimate concerns that one might want to plan to avoid. Tax brackets could go higher during your retirement. Estate rules could get even harsher for inherited tax-deferred accounts Your…
Props to Ed Slott, Jeffrey Levine, and Bob Carlson. They sure do get the word out to the public with their RMD analysis. And, I’ll just say it, scare tactics. Witness the blitz of books, blogs, and podcasts about the IRA Tax Bomb, the Minimum Distribution Monsoon, Withdrawal Flash Flood Warnings, and Estate Tax Explosive…
I attended a Red Rocks concert a few years ago where the artist, after doing an excellent cover of a Tom Petty song, declared to the crowd, “As they say in Hollywood, if it’s worth doing once, it’s worth doing again.” At which point he launched into a cover of another Tom Petty Song. And…
If you’ve ever met with a financial advisor, you’ve probably heard something like, “Your plan has an 85% chance of success.” That sounds pretty reassuring—but what does it actually mean? The answer usually comes from a Monte Carlo simulation. Monte Carlo software is a way to test thousands of possible futures instead of pretending anyone…
With back-to-school season in full swing, I bet you are thinking, “Wow, I don’t miss those days of studying and tests.” Not so fast! In honor of Fall, I present to you a quiz on your financial progress over the past year. Question 1: Over the past 12 months, I have done the following (check…
Here is a short list of fraught, nearly unanswerable questions a financial advisor gets at a dinner party: Is $ 1 million enough for me to retire? Will Social Security be there for me? How much will I spend on health care in retirement? How does anyone afford long-term care costs? Is it a good…
Do you think that moving in with a romantic partner is less legally complicated than marriage? Or perhaps you want to go in with your best friend to buy a house in an expensive real estate market. What if your adult child moves in with you to help take care of you in your dotage?…
My friends over at GHP Investment Advisors are killing it with their newsletters lately. I highly encourage you to read the essay by Reed McCoy in the link below. He has so much good information that I don’t want to junk it up with my stuff, so just a few thoughts from me on this…
True, this isn’t a gardening column, but I’m all about living a life of enjoyment today, while still saving for the future. So, let’s get the pretty plants out for a happy summer, but for goodness’ sake, only buy the plants once. If you’ve ever stepped outside in July and immediately questioned your life choices,…
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