Ultra-low interest rates present a dilemma: Great for borrowers (both companies and individuals), potentially great for the stock market, but terrible for people who need risk free savings for emergencies or retirement income. Unfortunately, if you need your money within 1-2 years to spend, there’s not much I can suggest. No growth is the…
Much is made of making your permanent home in retirement in a state that has no state income tax. I posit that there are other considerations. First, what are the no-income-tax states? They are Alaska, Tennessee, Wyoming, Florida, New Hampshire, South Dakota, Texas, Washington, and Nevada. Question #1: The MOST important consideration is do…
When opening your own investment accounts, you have a choice between two major types of companies: Full Service or Discount Brokerage. Which is right for you? Full Service brokerage, like full service anything, will generally cost you more, but with the promise of more personalized attention. Things like trading, money management, and investment choices…
There are a lot of ways to look at funding college for your kids. There is the I-Paid-My-Way-and-Junior-Can-Too. There is the parental guilt trip of putting away any extra money and forgoing retirement savings so young Betty Sue can go to Harvard without lifting a financial finger. Most of us will fall somewhere in the…
One of the first things I tell prospective clients who are looking for investment help is that I don’t advise on buying or selling individual stocks. Why is that? Laziness? Lack of confidence? Don’t have the time? Yes, all of the above. It is my opinion (and it’s my blog so you have to…
Think all workers can participate in a retirement plan? Think again! According to a 2019 study by the Pension Rights Center* out of 139 million full and part-time workers, only 56% are participating in a work sponsored retirement plan. Only 12% of employers with less than 100 employees even offer a 401(k) plan**. As…
Have Suze Orman, Jim Kramer, or Dave Ramsay ever encouraged you to use the back door? No, not a sexy affair with a finance celebrity! I’m talking about a Backdoor Roth Contribution. First, some basics Roth IRAs allow you to contribute up to $6,000 per year ($7,000 if you are aged 50+) to an…
Am I worried about the upcoming election? Sure, who wouldn’t be? No matter where you sit on the political spectrum, you likely think your guy not winning spells the end of the country. That’s not my particular worry. The US has survived bad presidents before, and it will again. No, my concern is how…
Nothing makes me more stressed than listening to Alison Janey on those Kaiser Permanente commercials encouraging preventative care so that we all “Thrive.” She’s a highly paid actress. What about the rest of us who worry about our money lasting through retirement? First, a terminology lesson. Life Expectancy, a term that’s used a…
Annuities are a big business. In 2019 $57.8billion in annuities were sold according to the Insured Retirement Institute. What’s the appeal? First, let’s remember that there are many kinds of annuities: Fixed, variable, immediate, and deferred are the main categories. There are about 1,000 permutations under those categories. Second, I don’t sell any…
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