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20 Second Advisor: Getting prepared for unemployment
Unemployment probably never crossed your mind until COVID-19 hit. If you or someone you know may be affect, here are a few practical steps you can take to make sure you are prepared: Cash is king. Make sure to prioritize beefing up your emergency cash savings. We recommend having 3-6 months worth of expenses set…
Read More20 Second Advisor: 2020 contribution limits
The IRS has announced contribution and benefit limits for 2020. Here is a summary of the updated limits 401(k), 403(b), most 457 plans, and Thrift Savings Plan: contribution limit is increased from $19,000 to $19,500. Catch-up contributions: for employees aged 50 and over who participate in these plans is increased from $6,000 to $6,500. SIMPLE…
Read More20 Second Advisor: Vacation Home – Rent or Buy?
It’s summer time. And that means vacations. Families feel the draw of buying a 2nd home while they’re on vacation. On the trip to Florida, couples may think, “Wouldn’t it be great if we had a beach house?” Before you dig into the financials of buying a 2nd home, here are the top non-financial questions…
Read More20 Second Advisor: Make it happen in 2019!
It’s the most wonderful time of year. That time when you gather with family, celebrate the holidays, and dust the cobwebs off your old budget. But, seriously, I love this time of year. We are looking into the new year and trying to guess/dream/figure out what we’d like to accomplish in 2019. Vision is the…
Read More20 Second Advisor: Midterm elections and what they mean for markets
While it can be easy to get distracted by month-to-month or even one-year returns, what really matters for long-term investors is how their wealth grows over longer periods of time. Exhibit 2 below says a lot. It shows the hypothetical growth of wealth for an investor who put $1 in the S&P 500 Index in January 1926.…
Read More20 Second Advisor: Are you planning on putting your child through college?
According to recent data published by the College Board, the annual cost of attending college in the US in 2017–2018 averaged $20,770 at public schools, plus an additional $15,650 if one is attending from out of state. At private schools, tuition and fees averaged $46,950. Here are some quick tips as you start thinking about…
Read More20 Second Advisor: When is the best time to invest in the stock market?
The media would have you think there are dozens of reasons to buy into or sell out of the market, but what the hard data shows is that most of the time, you should stick to a long-term investment strategy. Here are a few nuggets of wisdom when it comes to investing: I (the advisor)…
Read More20 Second Advisor: Have you been thinking about Bitcoin?
I have received numerous questions about Bitcoin over the last several months. Here are my key takeaways: Prices are driven largely by speculation (supply and demand) Impact of future laws and regulations is unclear It gets a lot of media attention, but in actuality, the total value of Bitcoin (as of 12/7/17) in circulation…
Read MoreHow do you define investment success?
Too often we compare the performance of our portfolios with a benchmark, such as the S&P 500 Index. We may think: The S&P 500 was up 10% last year, so why was my portfolio only up 6%? The S&P 500 may seem like a reasonable performance benchmark. After all, it’s the most widely discussed proxy…
Read MoreYou received an inheritance, now what?
Research shows the average inheritance is spent within five years. As an advisor at Verisail, I have seen both sides of the coin. Some of my clients have done a great job at continuing to live their lives as if the inheritance wasn’t even there. I have witnessed other clients unwisely spend a significant portion…
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