70s
20 Second Advisor: Protect Yourself from Phishing Scams
What should you do if you get a phone call from someone who knows your name, and maybe some other identifying information, and informs you that there appears to be some fraudulent transactions or issues with your bank or credit card or tax return? “Your account may have been compromised. Did you authorize a $5000…
Read More20 Second Advisor: “Mind the Gap” study shows investors underperform. How can you close the gap?
Morningstar publishes an annual “Mind the Gap” study to show the difference between the returns delivered by all funds and ETFs versus the returns actually realized to investors’ accounts. So, for the 10 years ending Dec. 31, 2022, all funds put together (large cap funds, small cap funds, international funds, etc.) had an average return…
Read More20 Second Advisor: Generational Wealth and Stewardship
The idea of a legacy is intriguing. Many of us feel a call to help provide for future generations or to leave our mark in the world in some lasting way. We strive to be good stewards of our blessings now so that we may not be a burden to others in the future and…
Read More20 Second Advisor: Key Driver For Retirement Happiness? An 85 year Harvard study provides a possible answer.
The Answer: Connections. A Harvard study followed some 724 people over their lifetimes to answer the question: What makes us happy? As the study’s participants entered their retirement years, more and more of them communicated the difficulty of forming new and meaningful relationships outside of work. To maximize your happiness in retirement, I believe you…
Read More20 Second Advisor: Should I just put my money in bank CDs?
I’ve been getting a lot questions from clients on if they should keep their funds in their portfolio or just take it out and put the funds into a bank CD (now paying 4-5%). To me, the question is all about time horizon. Stocks have a much higher expected return (around 10% over the long…
Read More20 Second Advisor: Free Tax Preparation by AARP Foundation Tax-Aide!
If you have friends or family that are over 50 and low-to-moderate income, pass on a tip to them: AARP Foundation Tax-Aide has nationwide, trained and IRS-certified volunteers who will prepare their 2022 tax return FREE of charge! I have been one of those volunteers for 6 years. Most of the taxpayers we serve are…
Read More20 Second Advisor: Age before beauty – how older investors can outperform higher return investments (hint: it’s time!).
I’m reading a book right now that talks about Warren Buffett. Some say he is a great investor. Others say that perhaps he has just been extremely lucky. Or perhaps he is just an old investor (he’s been investing for a long time!). I think Buffett has a good bit of all three: Investment skill,…
Read More20 Second Advisor: SMART goals = intentional life
It’s that time of year when we clean out the junk in our house, take stock of where we are, and maybe make a few goals and plans for the coming year! I love to plan, but I’ve learned that nothing happens by accident. The best way to move incrementally toward the life you envision…
Read More20 Second Advisor: Secret to staying wealthy? Fear.
I just finished reading a fascinating excerpt from the book “The Psychology of Money.” In the article, the author, Morgan Housel, lays out the argument that the skills needed to gain vast sums of money are very different than the skills needed to retain and protect wealth. Specifically, Housel says: Capitalism is hard. But part…
Read More20 Second Advisor: 6% vs 2.5% Mortgage – The impact of rising rates on home affordability
If you’re looking for a prediction on when interest rates will rise or fall, alas, I cannot give you that info as I left my crystal ball at home this morning. But, I want to point out how much the recent rise in interest rates affect the monthly payments homeowners must pay when refinancing or…
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