If you’ve inherited money, start by knowing it takes a while for the money to land. The executrix needs time — months and months — to get things retitled. Then it takes time for the IRS or the state to release a lien or expedite an audit. Do NOT expect the money all at once. While the estate is being settled, there may be income kicked off by the assets that have not yet been distributed. […]
No investment advisor can honestly tell you that they can use their expertise to make you an additional 10% return on your investments. However, I can honestly say that I can, in many instances, save you 10% of your investment returns through good tax planning to get taxes paid on qualified money at the lowest possible bracket. You don’t want to leave a tip to the IRS! How, you ask? I’ve got a lot of […]
Knowledge workers need to gather together to share information on a regular basis. Fee-only fiduciary planners are a collaborative bunch and naturally want to help each other. The Alliance of Comprehensive Planners is the specific group I belong to. This video about us was shot in November, 2016. – Posted 12/20/2016
Financial services is a young profession and there’s a lot of squabbling going on with regard to what designations are best. There are 100x as many salesmen out there as financial professionals, though, and a bunch of the designations were designed to give them credibility. Quite a lot of the credentials people have can be obtained with a week-end cram course. For tax prep the professionals are CPAs or lawyers, but you have to confirm […]
Ever wonder what happens to you, as a client, when your financial advisor dies? Even though I am barely 50 as I write this, I actually have given this a lot of thought. Here are the things I’ve done to make sure my clients are taken care of in case I am suddenly unable to. (I used to say “hit by a bus”, but a bus driver once vented to me about how much he […]
I’ve talked in the past about the benefits of off-loading risk to an insurance company to create a pension in retirement. When certain cash flow becomes a higher priority than investment growth, I’ve considered single premium immediate annuities (SPIAs) to do the job. Another idea is a bond ladder. It’s a very unsexy solution, but may very well do a better job. I’m putting this article here while I develop this idea more. A Pseudo-Life […]
A fee-only fiduciary certified financial planner is someone who is a financial professional. “Fiduciary” means “putting your interests ahead of my own. Not equal to, but ahead. I have to act as a trustworthy agent for you. It’s the professional standard that you should insist on, but most people never even realize there’s that option. There are over 600,000 broker/dealers in the United States and about 2,500 members of the National Association of Personal Financial Planners (the […]
It’s been hard to find my path as a fiduciary, fee-only financial professional. There are so many sales agents out there that people automatically think I’m just another one. How can they tell, when financial credentials are so thick on the ground? I’ve heard some really ridiculous ones. But a fee-only financial planner who belongs to NAPFA is like the difference between a doctor and a pharmacist. A doctor has a broad range of training […]
