Miami-Dade firefighters have several options to help with health costs in retirement. We take a look at available subsidies.
At its most basic, retirement planning is a mathematical exercise. Inputs include annual savings during your working years, expected return on investments, expected retirement date, expected household expenses during retirement, and life expectancy. Did ya notice that one word popped up an awful lot there? A fairly large amount of the financial planning process is based on expectations..
I received two calls this past month asking basically the same thing. “Hey, Allen, I was talking to this guy, and he said I should do a backdoor IRA. It sounded great! What do you think?” My first thought was “Is someone out there doing seminars on this?” It reminded me of a word that I learned many years ago: Tinstaafl. There Is No Such Thing As A Free Lunch. Or put another way, if it sounds too good to be true, it probably is.
When my son had his first mental health crisis, my wife and I had no idea what was happening to him, what kind of pain he was in, or what we should be doing. But for the next five or six years, we were focused and absorbed on nothing other than seeking out the best treatment possible for him and learning all we could about his mental illness.
Past performance is not a predictor of future returns. Ever heard that one before? We all have. But most investors invest like they haven’t. Or perhaps more accurately, most investors invest like they don’t believe it.
Talk to an active stock trader for a while, and they’ll tell you—well, I’m not positive what they’ll tell you. I avoid talking to active stock traders for a while, or any other length of time.
Yes, I found these on the internet, so probably about 40% of them are true.
When a child is diagnosed with mental illness, the family’s relationship to financial planning changes. Find out what families should know about special needs financial planning.
The market is going to go down! You heard it here first. Well, actually if you pay even slight attention to the financial news, you heard it here one millionth. We are in our eleventh year of a strong bull market and prognostication on the coming bear market has been rampant for approximately all eleven of those years.
You’re 25 years old. You just got your first decent paying gig and you’ve decided to start saving for retirement, which you’ve already got marked on the calendar for mid-2054, thirty-five years from now.
Allen and Gayle Giese to be among the EPIC Award recipients at May 8 luncheon.
To the surprise of nobody, fraud did not let up in 2018. The Federal Trade Commission (FTC) received about 1.4 million fraud reports over the year.
The more wealth you amass, the more likely you are to be taken to court as the defendant in a civil action. That lawsuit could be for real wrongs, imagined ones, or downright nuisance cases.
I remember back about a decade ago when health savings accounts were a thing. Then they weren’t a thing. Now they are a thing again.
It is impossible to separate investing and risk. Whether you choose stocks, bonds, mutual funds, annuities, alternatives like gold and oil, or just a money market account, you run the risk of loss.
The 2018 market year is in the books, and it wasn’t pretty. It wasn’t anywhere near as bad as 2008, which was worse than going to prom with your mother. 2018 was more like going to prom with a second cousin.
Market risk isn’t the only risk you face in your financial journey. You could avoid market risk entirely very easily: Stay out of the market. But can you grow your nest egg fast enough to retire when you want to and have enough money to last your lifetime?
A few months ago, Barron’s issued their “2018 Mid-Year Roundtable” report. A panel of “investment experts” (Barron’s words, not mine) talked about the stock market landscape and gave their predictions for the rest of the year.
We’ve been through this before. We’re going through it now. We’ll go through it again. It stinks, folks. I’m not going to sugarcoat it at all. It stinks to watch the market tumble hundreds of points day after day. It stinks to take a look at your portfolio and watch that value sink day after day. We find comfort in the faith that markets will recover, along with our account balances, but it still stinks.
This was a rare election cycle in which Social Security was not a top debate issue, though concerns remain over the health of the program and status of future benefits. Seems like a good time for a review. What’s true about Social Security, and what’s myth?
It’s once again time for our annual reprint of a handy year-end financial checklist. I think we’re up to about 10 years in a row we’ve done this. As I’m way too lazy to rifle through a decade of old newsletters, I officially, if not accurately, dub this our 10th Annual Checklist.
Rest assured that even when prices are falling, people are still buying. The market is doing its job, and we believe the rewards will be there if you remain disciplined.
Whether you’re recovering from a natural disaster or someone who wants to help with a donation, make sure to protect yourself against scammers.
When a child is diagnosed with a mental illness, parents may feel like they’re sinking into financial quicksand. A new book, When Mental Illness Strikes: Crisis Intervention for the Financial Plan, strives to help parents avoid the quicksand, provide for their child, and safeguard their own future.
Released on Amazon September 25, 2018. Financial advisor Allen Giese understand the impact mental illness can have on a family’s finances. His book covers financial planning and mental illness.
If this article seems familiar, it’s because we’ve covered this topic before. We wrote about it in our newsletter in 2014 following the death of actor Philip Seymour Hoffman. Because his estate plan was not updated, his estranged partner received his entire $35 million estate.
As an investor, it’s important to keep this in mind. You don’t have to win every month, quarter or even every year to end up on the podium wearing the Yellow Jersey. Actually, trying to keep up with the short-term winners can be counter-productive to long-term success. It’ll also burn you out.
Diversification has been called the only free lunch in investing. This idea is based on research showing that diversification, through a combination of assets like stocks and bonds, could reduce risk without reducing expected return, or could increase expected return without increasing risk compared to those individual assets alone.
Stock picking is too risky a game to play. Case in point: Tesla’s down-and-up share price following CEO Elon Musk’s comments.
Have questions about trusts? We talked with estate planning attorney Patricia Voss to get some of the more common questions answered.