Many clients have expressed concerns about their own spending. Some new research out of Spain, discussed by Market Watch’s Mark Hulbert, proposes that maybe it’s not your spending, but rather your withdrawal rate. Within this new article, Hulbert discusses the possibility of changing withdrawal rate with the flows in the market; to put it simply, if the economy is in a worse spot than the year before, withdraw less than that year. When the economy starts to perform well again, that money you saved will gain in value. You may find this reduction to be intolerable, but keep in mind the gain in future withdrawals when your savings are ahead of schedule. The even broader implication is that the world is profoundly uncertain, and no amount of good planning can possibly deal with eventuality. So it behooves all of us to plan for flexibility. 09.16.19
Retirement should be a welcome reward for long years of hard work, but without proper planning, it may turn out to be a lot worse that what you expected. Greg O’Donnell, an esteemed investment advisor, runs through five of the biggest retirement mistakes to look out for as you’re nearing or entering this new phase of your life. 09.10.19
This is some serious pillow talk.
Not getting enough sleep — or not getting quality sleep — can impact everything from your mood to your heart health, according to the Division of Sleep Medicine at Harvard Medical School: ”In the short term, a lack of adequate sleep can affect judgment, mood, ability to learn and retain information, and may increase the risk of serious accidents and injury. In the long term, chronic sleep deprivation may lead to a host of health problems including obesity, diabetes, cardiovascular disease, and even early mortality.” 09.04.19
Don’t have a budget? Think again… Have you ever taken a step back to look at your bank accounts and realized that you feel stuck? A budget can fix that. Many Americans find themselves stuck with big homes, big, new cars, and big debts. A budget can solve all of these issues. By looking at what you can spend less on, more money can be freed up for paying off debts, saving for the future, and even into accounts that can be used for vacations or other fun things. By following a few simple tactics for budgeting, your life financial life can be turned in the right direction. 08.15.19
Most people remember the 2017 data breach that happened to Equifax – If you don’t, you were probably affected. Over 147 million people had their information compromised during that breach. Well, there was a settlement announced last week and there may not be much to get from the settlement. Equifax was required to pay $700 million in the settlement and each person could have received $125 to do with what they wanted. Well, if you do the quick math, $700 million divided by 147 million affected people equals about $5 per person, not the $125 stated in the claim. With the already enormous amounts of claims filed, the recommendation is to take the free credit monitoring service as an alternative. You will be entitled to 4 years of free credit monitoring and identity protection. 08.02.19
We have had several clients ask us our opinion on Bitcoin as an investment and our simple answer is that we don’t encourage it. That doesn’t mean you can’t make money on an investment like this, it means that we don’t like the fact that you can’t touch the currency and it is all electronic. In addition, we believe that most people who invest in this type of currency don’t understand what they are investing in. They are just going along for the ride. This caused Bitcoins meteoric rise to almost $20,000 for one coin. An investment that started off in 2012 at less than a penny was soon worth over $20,000 ! It soon came back down to a level around $3,000 but a lot of people lost a lot of money on the way back down. Recently, Bitcoin has risen again to close to $10,000 and this article says that we are going to see a similar fall in the currency just like we saw when it came down from $20,000. The article also compares Bitcoin to past bubbles like the Tulip Bulb bubble ad the South Sea Bubble. We caution anybody who invests in this to be careful and be prepared to lose some or all of your investment. 07.17.19
The new buzzword in the financial industry is FIRE ! It stands for “financial independence, retire early”. This article talks about how to achieve FIRE and also how to raise frugal kids. Teaching children about spending wisely can be very difficult, especially when their friends and classmates have all of the latest gadgets and accessories. Some parents start talking to their children about responsible spending as early as 4 years old. This article goes into specifics on how parents are saving money to get to their financial independence and also how children are learning that going to a state college versus an out of state college can be a much wiser choice. If you have young children, this article is worth a read. 07.14.19
This article takes you inside the mind of a 30 year veteran car salesman and tips on how to get a better deal on a new car. With the internet providing easy to access information, you should start by doing your homework online and finding the car you are looking for and representative prices for that car. According to the article, dealers don’t like to be shopped. Be prepared when buying a new car and do your homework before buying your next car. 06.27.19
Artificial intelligence is putting new teeth on the old saw that cheaters never prosper.New companies and new research are applying the cutting edge technology in at least three different ways to combat cheating — on homework, on the job hunt and even on one’s diet.
In California, a new company called Crosschq is using machine learning and data analytics to help employers with the job reference process. The technology is meant to help companies avoid bad hires and compare how job candidates present themselves with how their references see them. 06.10.19