If this pandemic has taught us anything it is that everyone has questions, problems, goals, victories, losses, fears, gains, excitement, despair, greed, generosity, and insecurity about money. You don’t have to be poor to worry about money or rich to deserve financial help. That’s right, everyone can use a financial adviser, and you don’t…
In case you are wondering what goes through the mind of financial advisers during brutal stock market downturns, here is a peek behind the curtain. Obviously, just me, I can’t speak for all my adviser friends. Feeling #1: Discouraged. People in the money business invest in the same stock and bond markets as their…
Over the past 15 months, I have been in a LOT of family therapy. And the one thing I have learned is that when a person is feeling strong emotions (fear, anger, insecurity), the rational part of their brain (the pre-frontal cortex) literally is not working. It physically gets no energy and just shuts off.…
So, you’ve seen all the newsletters advising you not to panic and sell as the stock market loses 20% in a week. You may even hear investment folks encouraging you to buy stocks if you have any cash. But, as you watch your accounts drop each day, you can’t help feeling like buying more and…
The first quarter rite of passage for financial advisers seems to be attending economic forecasts. Yes, it is absolutely as fun as it sounds. Zzzzzz. I try to avoid these meetings because market forecasts are almost never right and not one is ever called to account for their not-rightness. Like weather forecasting. Also, I…
An alert reader asked me to elaborate a bit on the SECURE Act in relation to the effect on inheriting IRAs. This has received a lot of press, so I guess a lot of people are worried about it. Is it possible all the press the SECURE Act has received is making people worry? Hmmmm.…
We are in the depths of despair. Okay, maybe not despair, but the depths of the winter blahs at the very least. You may be fantasizing about an escape to warmer climes soon. Fear not, the opportunity is coming. For parents, Spring Break offers an obvious time to plan a beach vacation. Even if you…
Well, in reality, they are here. RoboAdvisors, that is. Over the last few years, people in my industry have made a big deal about selling the services of their RoboAdvisors or hand-wringing that RoboAdvisors are the death knell of human financial advisors. First, let’s clarify what a RoboAdvisor is. And is not. RoboAdvisors offer…
As a financial adviser, it’s a balance between convincing you to save for the future and not being such a total nag that you don’t enjoy your life. That said, the estimated $20 billion expected to be spent on Valentine’s Day gifts does give me pause. Here are the Hallmark Cards I wish were…
And just like that it seems we go from embarrassing, misspelled, grammatically incorrect tweets which just irritate both allies and haters to real missiles being launched at our enemies and friends. Among other worries, you might wonder how the U.S. getting involved in an armed conflict could affect your investments. As always, when predicting the…